Blockchain Business Innovation

The Endpoint Imperative: Global Security Compliance. Are you ready?

By G C Network | November 12, 2017

    China has its Cybersecurity Law. Next May, the General Data Protection Regulation – or GDPR –goes into effect for the European Union. Research shows most organizations just aren’t…

The Endpoint Imperative: IT Spending: Setting Priorities in a Volatile World

By G C Network | November 5, 2017

  Fast-evolving trends are changing the way IT thinks about security. To stay secure and productive, IT operations must excel at the fundamentals: PC refreshes for security, and optimizing end-user…

Top 1000 Tech Bloggers

By G C Network | October 24, 2017

The Rise “Top 1000 Tech Bloggers” leaderboard recognizes the most inspiring Tech journalists and bloggers active on social media. They use Klout scores (50%) and the blogger’s twitter conversations on…

IBM – The Power of Cloud Brokerage

By G C Network | October 14, 2017

Hybrid cloud adoption is now mainstream and you are making decisions every day about how to transform application and infrastructure architectures, service delivery, DevOps, production operations and governance. With Cloud…

More SMB Love Needed

By G C Network | September 29, 2017

    In a recent post, titled “10 Surprising Facts About Cloud Computing and What It Really Is”, Zac Johnson highlighted some interesting facts about cloud computing in the SMB…

ATMs Are IT Too!

By G C Network | September 5, 2017

That world of homogenous IT technology managed entirely by the internal IT organization has long disappeared.  Operations today require efficient and global management of technologically heterogeneous environments. The challenges and…

Digital Transformation Asset Management

By G C Network | August 30, 2017

Today’s businesses run in the virtual world. From virtual machines to chatbots to Bitcoin, physical has become last century’s modus operandi.  Dealing with this type of change in business even…

The Game of Clouds 2017

By G C Network | July 30, 2017

The AWS Marketplace is growing at breakneck speed, with 40% more listings than last year! This and more insights were revealed when CloudEndure used their custom tool to quickly scan the…

Managing Your Hybrid Cloud

By G C Network | July 14, 2017

Photo credit: Shutterstock   Runaway cloud computing cost may be causing an information technology industry crisis.  Expanding requirements, extended transition schedules and misleading marketplace hype have made “Transformation” a dirty word. …

American Airlines Adopts Public Cloud Computing

By G C Network | June 30, 2017

Did you know that the reservations systems of the biggest carriers mostly run on a specialized IBM operating system known as Transaction Processing Facility (TPF). Designed by IBM in the…

Is there more than bitcoin to blockchain?

 

Absolutely, because today’s blockchain is opening up a pathtowards the delivery of trusted online services.

 

To understand this statement, you need to see blockchain as more that it’s more famous bitcoin use case. As a fundamental digital tool, blockchain is a shared, immutable ledger for recording the history of transactions. If used in this fashion, it can enable transactional applications that can have embedded trust, accountability and transparency attributes. Instead of having a Bitcoin blockchain that is reliant on the exchange of cryptocurrencies with anonymous users on a public network, a Business blockchain can provide a permissioned network with known and verified identities. With this kind of transactional visibility, all activities within that network are observable and auditable by every network user. This end-to-end visibility, also known as shared ledgering, can also be linked to business rules and business logic that can drive and enforce trust, openness and integrity across that business network.  Application built, managed and supported through such an environment can now hold a verifiable pedigree with security built right in that can:
  • Prevent anyone – even root users and administrators – from taking control of a system;
  • Deny illicit attempts to change data or applications within the network; and
  • Block unauthorized data access by ensuring encryption keys can never be misappropriated.

 

From an industry vertical point of view, this approach can:
  • Give financial institutions an ability to settle securities in minutes instead of days;
  • Reduce manufacturer product recalls by sharing production logs with original equipment manufacturers (OEMs) and regulators; and
  • Help businesses of all types more closely manage the flow of goods and related payments with greater speed and less risk.

Innovators within just about any industry can build, run and manage their own business blockchain network. And even if the organization isn’t quite ready to do the heavy lifting, it can consume a blockchain service from companies like IBM.

 
Ready-made frameworks as also available from the Hyperledger Project, an open source collaborative effort created to advance cross-industry blockchain technologies. Available hyperledger business frameworks include:
  • Sawtooth – a modular platform for building, deploying, and running distributed ledgers that includes a consensus algorithm which targets large distributed validator populations with minimal resource consumption.
  • Iroha – a business blockchain framework designed to be for incorporation into infrastructural projects that require distributed ledger technology.
  • Fabric – a foundation for developing applications or solutions with a modular architecture that allows components, such as consensus and membership services, to be plug-and-play.
  • Burrow – a permissionable smart contract machine that provides a modular blockchain client with a permissioned smart contract interpreter built in part to the specification of the Ethereum Virtual Machine (EVM).

 

If you’re team is looking to innovate and take a leadership position within your industry, business blockchainsmay be the perfect enhancement for your business focused application.
 
 

This post was brought to you by IBM Global Technology Services. For more content like this, visit ITBizAdvisor.

 

Cloud Musings

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