Research Paper
Dr Daniel Barreto's class: Leading Trends in IT.
Grade: 97%
Co-written by Christina Rentschler, Victor Gardrinier and Dean Rauschenbusch.
Date: 08/2017
From Bitcoin to Blockchain: Industry Review April 2017 from OLMA NEXT LtdOLMA Capital Management
When the Bitcoin cryptocurrency was released in 2009, its underpinning, the blockchain distributed ledger system was the real technological breakthrough, a formulation that promises to change the basis of all types of transactions globally.
Blockchain technology has paved the way for an Internet of Transactions. Blockchain technology has already proved its worth in such areas as means of payment, interbank exchanges and international remittances. Touted as the next digital revolution, blockchain technology has the potential to transform traditional industries and alter society through disintermediation of trade. Any situation that involves an intermediary that is expensive or fallible represents an opportunity to create a blockchain application case. No industry is immune to the blockchain’s disruption potential.
In 2017, the blockchain technology is at an inflection point. The industry is in a state of transition and must move to Blockchain 2.0, which means the adoption of more sophisticated applications, such as micro-payments and smart contracts. Having outgrown its original bitcoin community, the majority of blockchain applications have yet to pass beyond the prototype stage to make blockchain technology the greatest restructuring technology of the next decade.
One of the most hyped IT buzzwords to have emerged in the last couple of years. Blockchain has found its way into major media headlines on a near-daily basis, but a year and a half ago, it was a word used by a relatively small number of people to describe the peer-to-peer distributed ledger technology.
Upfront Ventures blockchain and crypto deckMark Suster
Mark Suster of Upfront Ventures gives a presentation primer on Cryptocurrencies & Blockchain. This is best consumed with a video that will be released and available on Upfront's YouTube page: https://www.youtube.com/user/upfrontventures/videos
Magister Advisors - Blockchain & Bitcoin in 2016 - A Survey Of Global LeadersJeremy Millar
As Bitcoin and Blockchain investment fast approaches $1bn, we have spent the last three months speaking with over 30 of the leading Bitcoin and Blockchain companies globally, plus industry groups, financial institutions and investors, to gain detailed insight and understanding of the development of the market and the direction these fascinating technologies will take in 2016.
We are pleased to share our work and findings with you and the broader community.
You can read our report ‘Bitcoin and Blockhain in 2016: A Global Survey’ here.
If you are interested in a personal briefing or a briefing for your firm, please feel free to contact us (jmillar@magisteradvisors.com).
Ethereum Sentiment Research Spotlight StudyCoinDesk
CoinDesk’s Ethereum Sentiment Research Spotlight Study is our inaugural research coverage of Ethereum. It takes a deeper dive into the past few months for the Ethereum and polled 240+ startup execs and enterprise blockchain leads to assess the impact of the DAO hack and subsequent hard fork.
You'll be able to read analysis of the key trends in this article: http://coindesk.com/coindesk-research-spotlight-study-q3-ethereum-hard-fork
To read the full Q3 2016 State of Blockchain report, please go here:
http://www.coindesk.com/research/state-of-blockchain-q3-2016/
We'd appreciate feedback on our research:
https://www.surveymonkey.co.uk/r/6W6WHST
Overview of bitcoin regulation challenges and opportunities.
The research focused on ineffective controls used by western regulators to control Bitcoin and cryptocurrency .
From Bitcoin to Blockchain: Industry Review April 2017 from OLMA NEXT LtdOLMA Capital Management
When the Bitcoin cryptocurrency was released in 2009, its underpinning, the blockchain distributed ledger system was the real technological breakthrough, a formulation that promises to change the basis of all types of transactions globally.
Blockchain technology has paved the way for an Internet of Transactions. Blockchain technology has already proved its worth in such areas as means of payment, interbank exchanges and international remittances. Touted as the next digital revolution, blockchain technology has the potential to transform traditional industries and alter society through disintermediation of trade. Any situation that involves an intermediary that is expensive or fallible represents an opportunity to create a blockchain application case. No industry is immune to the blockchain’s disruption potential.
In 2017, the blockchain technology is at an inflection point. The industry is in a state of transition and must move to Blockchain 2.0, which means the adoption of more sophisticated applications, such as micro-payments and smart contracts. Having outgrown its original bitcoin community, the majority of blockchain applications have yet to pass beyond the prototype stage to make blockchain technology the greatest restructuring technology of the next decade.
One of the most hyped IT buzzwords to have emerged in the last couple of years. Blockchain has found its way into major media headlines on a near-daily basis, but a year and a half ago, it was a word used by a relatively small number of people to describe the peer-to-peer distributed ledger technology.
Upfront Ventures blockchain and crypto deckMark Suster
Mark Suster of Upfront Ventures gives a presentation primer on Cryptocurrencies & Blockchain. This is best consumed with a video that will be released and available on Upfront's YouTube page: https://www.youtube.com/user/upfrontventures/videos
Magister Advisors - Blockchain & Bitcoin in 2016 - A Survey Of Global LeadersJeremy Millar
As Bitcoin and Blockchain investment fast approaches $1bn, we have spent the last three months speaking with over 30 of the leading Bitcoin and Blockchain companies globally, plus industry groups, financial institutions and investors, to gain detailed insight and understanding of the development of the market and the direction these fascinating technologies will take in 2016.
We are pleased to share our work and findings with you and the broader community.
You can read our report ‘Bitcoin and Blockhain in 2016: A Global Survey’ here.
If you are interested in a personal briefing or a briefing for your firm, please feel free to contact us (jmillar@magisteradvisors.com).
Ethereum Sentiment Research Spotlight StudyCoinDesk
CoinDesk’s Ethereum Sentiment Research Spotlight Study is our inaugural research coverage of Ethereum. It takes a deeper dive into the past few months for the Ethereum and polled 240+ startup execs and enterprise blockchain leads to assess the impact of the DAO hack and subsequent hard fork.
You'll be able to read analysis of the key trends in this article: http://coindesk.com/coindesk-research-spotlight-study-q3-ethereum-hard-fork
To read the full Q3 2016 State of Blockchain report, please go here:
http://www.coindesk.com/research/state-of-blockchain-q3-2016/
We'd appreciate feedback on our research:
https://www.surveymonkey.co.uk/r/6W6WHST
Overview of bitcoin regulation challenges and opportunities.
The research focused on ineffective controls used by western regulators to control Bitcoin and cryptocurrency .
Blockchain Insider | Chapter 2: The Name of The GameKoh How Tze
All things blockchain, ledger technology, and cryptocurrencies.
If you don't believe me or don't get it, I don't have time to try to convince you, sorry. I don't know the future. I didn't write this to tell you how this is going to end. I write about how it all begins. I'm going to show you a world without boundaries. A world where anything is possible. Where we go from here is a choice I leave to you.
This is part of my project related to Blockchain technology. If you like the work above, and would like to make a contribution to this work, you are welcome to make some Bitcoin donation in support of this project to this wallet:
1PuENxGUTYxMe5tSk53kCPXPaoFVN2vKTU
You can also reach me at SteemIt community here, if you are a Steemian:
https://steemit.com/@howtze
For project related updates, kindly visit the official website:
http://www.BCInsider.MY
Thank you.
UNBLOCKED: The Power of Blockchain Technology to Establish Trust, Build Brand...Ogilvy Consulting
UNBLOCKED: The Power of Blockchain Technology to Establish Trust, Build Brands & Transform Business shines light on the myriad capabilities, applications and benefits of blockchain technology for enterprises. It frames key questions for business leaders that open paths to unlock the value of the technology. It places the customer at the center of business strategy development. And it focuses on the ultimate end game, leveraging blockchain to prevent disruption and provide competitive advantage.
A wide-ranging overview of the state of the digital currency economy and blockchain technology from CoinDesk's lead analyst and economic historian at the London School of Economics, Garrick Hileman. This was our curtain-raiser of our Consensus 2015 conference.
State of Blockchain 2017: Smartnetworks and the Blockchain EconomyMelanie Swan
Blockchain is a fundamental IT for secure value transfer over networks. For any asset registered in a cryptographic ledger, the whole Internet is a VPN for its confirmation, assurity, and transfer. Blockchain reinvents economics and governance for the digital age. The long-tail structure of digital networks allows personalized economic and governance services. Smartnetworks are a new form of automated global infrastructure for large-scale next-generation projects.
Bitcoin and APIs are acquiring becomes an increasingly important consideration in the financial sector. Find out in this ebook what is blockchain and the importance of bitcoins, among many other things. More information in http://bbva.info/2t1NEv7
Smart Network Economics:
Debt, Risk, and Payment Channels
Smart networks are intelligent autonomous networks, a new form of global computational infrastructure in which intelligence is built directly into the software such that an increasing degree of autonomous operation is facilitated. More formally, smart networks are state machines that make probabilistic guesses about reality states of the world and act upon this basis, particularly in economic domains, hence, smart network economics.
The distributed ledger technology that started with bitcoin is rapidly becoming a crowdsourced system for all types of verification. Could it replace notary publics, manual vote recounts, and the way banks manage transactions?
Blockchain, whose origins are blended (and often blurred) with the cryptocurrency Bitcoin, is a disruptive technology with the potential to transform how goods and services are exchanged over the internet. Blockchain allows complex transactions to be carried out transparently and securely, on a distributed interaction model that ousts multiple established intermediaries, eradicating the control held by central authorities in traditional methods of digital transaction.
Economics, broadly defined, is concerned with the description and analysis of the production, distribution, and consumption of goods and services. Also related is how individuals and groups make choices about these goods and services, and the consequences of their decisions. Decisions might be explicitly in regard to money and resources, but the same principles pertain to any kind of decision. The general form of the problem is that wants are bigger than resources, and even if two choices are both free, there is an opportunity cost in terms of deploying resources or focus into one area and not another. The same structure of decision-making among multiple options, with there being an opportunity cost to the road not taken, may persist regardless of domain, whether in classical economics or distributed ledger economics.
My special "Blockchain ICO" presentation at the Canadian Crowdfinance Summit in Toronto on March 1, 2017. National Crowdfunding Association of Canada. http://crowdfundingsummit.ca/
The title of this PPT is "Blockchain 50 Companies".
This document is based on CB insight.
My favorite companies are Funderbeam, Augur, CHRONICLED, mediachain, OpenBazaar, and ripple.
I strongly believe that blockchain will change the world.
I would be glad if I could help you even just a little bit.
Whether you are planning for establishing a white label crypto exchange software development company or a centralized trading development in the Middle East, you must know about compliance and taxation outlook in this region. This article will give you a better understanding of legal regulation and taxation in the Middle East.
BITCOIN: LEFT FOR DEAD HUNDREDS OF TIMES – STILL ALIVE AND KICKINGSteven Rhyner
Bitcoin has been left for dead… hundreds of times in the last 5 years. But it’s still here between us, in better health than ever and there’s no sign it’s going to leave us anytime soon. The question is: why so many experts keep failing at declaring it dead ahead of time?
Blockchain beyond fintech by ridgelift.ioUdayan Modhe
A comprehensive paper on blockchain technology. It covers blockchain technological aspects, blockchain evolution, future trends in blockchain implementation and reference architecture.
Naos Blockchain presents this report with the following objectives:
1. Describe the evolution of the crypto market and give a
comprehensive summary of the current market situation.
2. Provide detailed information regarding major factors
influencing the market. Drivers, restraints, opportunities,
and challenges.
3. Present the outlook as perceived by the NAOS Team.
This report was created at the beginning of 2019, therefore all data up to February 2019 is historical data, with the base
year for calculations being 2018.
Blockchain Insider | Chapter 2: The Name of The GameKoh How Tze
All things blockchain, ledger technology, and cryptocurrencies.
If you don't believe me or don't get it, I don't have time to try to convince you, sorry. I don't know the future. I didn't write this to tell you how this is going to end. I write about how it all begins. I'm going to show you a world without boundaries. A world where anything is possible. Where we go from here is a choice I leave to you.
This is part of my project related to Blockchain technology. If you like the work above, and would like to make a contribution to this work, you are welcome to make some Bitcoin donation in support of this project to this wallet:
1PuENxGUTYxMe5tSk53kCPXPaoFVN2vKTU
You can also reach me at SteemIt community here, if you are a Steemian:
https://steemit.com/@howtze
For project related updates, kindly visit the official website:
http://www.BCInsider.MY
Thank you.
UNBLOCKED: The Power of Blockchain Technology to Establish Trust, Build Brand...Ogilvy Consulting
UNBLOCKED: The Power of Blockchain Technology to Establish Trust, Build Brands & Transform Business shines light on the myriad capabilities, applications and benefits of blockchain technology for enterprises. It frames key questions for business leaders that open paths to unlock the value of the technology. It places the customer at the center of business strategy development. And it focuses on the ultimate end game, leveraging blockchain to prevent disruption and provide competitive advantage.
A wide-ranging overview of the state of the digital currency economy and blockchain technology from CoinDesk's lead analyst and economic historian at the London School of Economics, Garrick Hileman. This was our curtain-raiser of our Consensus 2015 conference.
State of Blockchain 2017: Smartnetworks and the Blockchain EconomyMelanie Swan
Blockchain is a fundamental IT for secure value transfer over networks. For any asset registered in a cryptographic ledger, the whole Internet is a VPN for its confirmation, assurity, and transfer. Blockchain reinvents economics and governance for the digital age. The long-tail structure of digital networks allows personalized economic and governance services. Smartnetworks are a new form of automated global infrastructure for large-scale next-generation projects.
Bitcoin and APIs are acquiring becomes an increasingly important consideration in the financial sector. Find out in this ebook what is blockchain and the importance of bitcoins, among many other things. More information in http://bbva.info/2t1NEv7
Smart Network Economics:
Debt, Risk, and Payment Channels
Smart networks are intelligent autonomous networks, a new form of global computational infrastructure in which intelligence is built directly into the software such that an increasing degree of autonomous operation is facilitated. More formally, smart networks are state machines that make probabilistic guesses about reality states of the world and act upon this basis, particularly in economic domains, hence, smart network economics.
The distributed ledger technology that started with bitcoin is rapidly becoming a crowdsourced system for all types of verification. Could it replace notary publics, manual vote recounts, and the way banks manage transactions?
Blockchain, whose origins are blended (and often blurred) with the cryptocurrency Bitcoin, is a disruptive technology with the potential to transform how goods and services are exchanged over the internet. Blockchain allows complex transactions to be carried out transparently and securely, on a distributed interaction model that ousts multiple established intermediaries, eradicating the control held by central authorities in traditional methods of digital transaction.
Economics, broadly defined, is concerned with the description and analysis of the production, distribution, and consumption of goods and services. Also related is how individuals and groups make choices about these goods and services, and the consequences of their decisions. Decisions might be explicitly in regard to money and resources, but the same principles pertain to any kind of decision. The general form of the problem is that wants are bigger than resources, and even if two choices are both free, there is an opportunity cost in terms of deploying resources or focus into one area and not another. The same structure of decision-making among multiple options, with there being an opportunity cost to the road not taken, may persist regardless of domain, whether in classical economics or distributed ledger economics.
My special "Blockchain ICO" presentation at the Canadian Crowdfinance Summit in Toronto on March 1, 2017. National Crowdfunding Association of Canada. http://crowdfundingsummit.ca/
The title of this PPT is "Blockchain 50 Companies".
This document is based on CB insight.
My favorite companies are Funderbeam, Augur, CHRONICLED, mediachain, OpenBazaar, and ripple.
I strongly believe that blockchain will change the world.
I would be glad if I could help you even just a little bit.
Whether you are planning for establishing a white label crypto exchange software development company or a centralized trading development in the Middle East, you must know about compliance and taxation outlook in this region. This article will give you a better understanding of legal regulation and taxation in the Middle East.
BITCOIN: LEFT FOR DEAD HUNDREDS OF TIMES – STILL ALIVE AND KICKINGSteven Rhyner
Bitcoin has been left for dead… hundreds of times in the last 5 years. But it’s still here between us, in better health than ever and there’s no sign it’s going to leave us anytime soon. The question is: why so many experts keep failing at declaring it dead ahead of time?
Blockchain beyond fintech by ridgelift.ioUdayan Modhe
A comprehensive paper on blockchain technology. It covers blockchain technological aspects, blockchain evolution, future trends in blockchain implementation and reference architecture.
Naos Blockchain presents this report with the following objectives:
1. Describe the evolution of the crypto market and give a
comprehensive summary of the current market situation.
2. Provide detailed information regarding major factors
influencing the market. Drivers, restraints, opportunities,
and challenges.
3. Present the outlook as perceived by the NAOS Team.
This report was created at the beginning of 2019, therefore all data up to February 2019 is historical data, with the base
year for calculations being 2018.
Crypto currencies usage is growing in a more connected world. The traditional banking industry is being disrupted by a decentralized network, rich in computing resources and connectivity.
Full quality version here -> https://www.scribd.com/document/333257162/Crypto-Currency-Mining-Science
The Blockchain is a technology created with the bitcoin, which has become the world's 8th currency in terms of amounts exchanged. The Blockchain brings with it new promises of innovation in all sectors, but also of disruption of dominant economic models. By taking an interest now in its potential applications, we can be one step ahead of the next stage of the digital revolution and the advent of a "horizontal" society,
without intermediaries or centralized authority...
The Blockchain is probably set to revolutionize transactions and exchanges; in the same way that Internet enabled peer-to-peer communication, in the years to come the Blockchain will provide the means for peer-to-peer transactions under a decentralized and autonomous rationale.
Cryptocurrency Alliance Super PAC-The Global Emergence of Cryptocurrencies an...Casey Botticello
The Cryptocurrency Alliance Super PAC-The Global Emergence of Cryptocurrencies and Blockchain Technology. This presentation provides an overview of the origins, technology, and applications of cryptocurrency and blockchain technology. Presented by Casey Botticello, President of The Cryptocurrency Alliance Super PAC.
For more information about The Cryptocurrency Alliance Super PAC and to get the latest crypto updates, go to: www.cryptocurrencyalliance.org
To get exclusive access to business content, from Casey Botticello, go to: www.caseybotticello.com
Social Media/Content Links:
Super PAC: www.cryptocurrencyalliance.org
Projects: www.caseybotticello.com
Medium Articles: https://medium.com/@caseybotticello
LinkedIn: https://www.linkedin.com/in/caseybotticello
Twitter: https://twitter.com/caseybotticello
Private Equity Investments: www.botticello.com
Bitter to Better — How to Make Bitcoin a Better Currency.Qutomatic
Bitter to Better — How to Make Bitcoin a Better Currency.
Bitcoin is a distributed digital currency which has attracted a substantial number of users. We perform an in-depth investigation to understand what
made Bitcoin so successful, while decades of research on cryptographic e-cash
has not lead to a large-scale deployment. We ask also how Bitcoin could become
a good candidate for a long-lived stable currency. In doing so, we identify several
issues and attacks of Bitcoin, and propose suitable techniques to address them
How to Make Bitcoin a Better Currency.
Bitcoin is a distributed digital currency which has attracted a substantial number of users. We perform an in-depth investigation to understand what
made Bitcoin so successful, while decades of research on cryptographic e-cash
has not lead to a large-scale deployment. We ask also how Bitcoin could become
a good candidate for a long-lived stable currency. In doing so, we identify several
issues and attacks of Bitcoin, and propose suitable techniques to address them
Blockchain insider | Chapter 3 : Smart MoneyKoh How Tze
What we have now is truly borderless, programmable money
backed by immutable computer systems based on pure logic & mathematics.
3.1 ABCDs That Are Changing The World
3.2 A Century of Technology Innovation
3.3 Two Monetary Worlds
3.4 Three Phases of Cryptocurrencies
Corporate Currency
CBDC, Central Bank-issued Digital Currency
The Money Flower
Money Trees
3.5 The Creation of Capital In Its Simplest Form
3.6 Incentivizing Good Behaviour
Smart Mobility - Ethical Driving and Data Sharing
Resilient City - Impactful Positive Behaviors
Social Contributions - Datanomics
3.7 Bringing Down Borders
Assets Backed Tokens
Security Token Offering
Do We Need A Nation-State Backed Crypto Exchange?
Blockchaining Sukuk
3.8 Summary
Programmable Money for Effective Resources Distribution
IS BITCOIN DEAD? NOT THE PART THAT MATTERSSteven Rhyner
Like many in the digital currency community, I’m tired of the "bitcoin is dead" line that has permeated mainstream coverage of high-profile software developer Mike Hearn’s decision to quit the "failed" bitcoin experiment.
UiPath Test Automation using UiPath Test Suite series, part 3DianaGray10
Welcome to UiPath Test Automation using UiPath Test Suite series part 3. In this session, we will cover desktop automation along with UI automation.
Topics covered:
UI automation Introduction,
UI automation Sample
Desktop automation flow
Pradeep Chinnala, Senior Consultant Automation Developer @WonderBotz and UiPath MVP
Deepak Rai, Automation Practice Lead, Boundaryless Group and UiPath MVP
Kubernetes & AI - Beauty and the Beast !?! @KCD Istanbul 2024Tobias Schneck
As AI technology is pushing into IT I was wondering myself, as an “infrastructure container kubernetes guy”, how get this fancy AI technology get managed from an infrastructure operational view? Is it possible to apply our lovely cloud native principals as well? What benefit’s both technologies could bring to each other?
Let me take this questions and provide you a short journey through existing deployment models and use cases for AI software. On practical examples, we discuss what cloud/on-premise strategy we may need for applying it to our own infrastructure to get it to work from an enterprise perspective. I want to give an overview about infrastructure requirements and technologies, what could be beneficial or limiting your AI use cases in an enterprise environment. An interactive Demo will give you some insides, what approaches I got already working for real.
Elevating Tactical DDD Patterns Through Object CalisthenicsDorra BARTAGUIZ
After immersing yourself in the blue book and its red counterpart, attending DDD-focused conferences, and applying tactical patterns, you're left with a crucial question: How do I ensure my design is effective? Tactical patterns within Domain-Driven Design (DDD) serve as guiding principles for creating clear and manageable domain models. However, achieving success with these patterns requires additional guidance. Interestingly, we've observed that a set of constraints initially designed for training purposes remarkably aligns with effective pattern implementation, offering a more ‘mechanical’ approach. Let's explore together how Object Calisthenics can elevate the design of your tactical DDD patterns, offering concrete help for those venturing into DDD for the first time!
Connector Corner: Automate dynamic content and events by pushing a buttonDianaGray10
Here is something new! In our next Connector Corner webinar, we will demonstrate how you can use a single workflow to:
Create a campaign using Mailchimp with merge tags/fields
Send an interactive Slack channel message (using buttons)
Have the message received by managers and peers along with a test email for review
But there’s more:
In a second workflow supporting the same use case, you’ll see:
Your campaign sent to target colleagues for approval
If the “Approve” button is clicked, a Jira/Zendesk ticket is created for the marketing design team
But—if the “Reject” button is pushed, colleagues will be alerted via Slack message
Join us to learn more about this new, human-in-the-loop capability, brought to you by Integration Service connectors.
And...
Speakers:
Akshay Agnihotri, Product Manager
Charlie Greenberg, Host
Securing your Kubernetes cluster_ a step-by-step guide to success !KatiaHIMEUR1
Today, after several years of existence, an extremely active community and an ultra-dynamic ecosystem, Kubernetes has established itself as the de facto standard in container orchestration. Thanks to a wide range of managed services, it has never been so easy to set up a ready-to-use Kubernetes cluster.
However, this ease of use means that the subject of security in Kubernetes is often left for later, or even neglected. This exposes companies to significant risks.
In this talk, I'll show you step-by-step how to secure your Kubernetes cluster for greater peace of mind and reliability.
LF Energy Webinar: Electrical Grid Modelling and Simulation Through PowSyBl -...DanBrown980551
Do you want to learn how to model and simulate an electrical network from scratch in under an hour?
Then welcome to this PowSyBl workshop, hosted by Rte, the French Transmission System Operator (TSO)!
During the webinar, you will discover the PowSyBl ecosystem as well as handle and study an electrical network through an interactive Python notebook.
PowSyBl is an open source project hosted by LF Energy, which offers a comprehensive set of features for electrical grid modelling and simulation. Among other advanced features, PowSyBl provides:
- A fully editable and extendable library for grid component modelling;
- Visualization tools to display your network;
- Grid simulation tools, such as power flows, security analyses (with or without remedial actions) and sensitivity analyses;
The framework is mostly written in Java, with a Python binding so that Python developers can access PowSyBl functionalities as well.
What you will learn during the webinar:
- For beginners: discover PowSyBl's functionalities through a quick general presentation and the notebook, without needing any expert coding skills;
- For advanced developers: master the skills to efficiently apply PowSyBl functionalities to your real-world scenarios.
GraphRAG is All You need? LLM & Knowledge GraphGuy Korland
Guy Korland, CEO and Co-founder of FalkorDB, will review two articles on the integration of language models with knowledge graphs.
1. Unifying Large Language Models and Knowledge Graphs: A Roadmap.
https://arxiv.org/abs/2306.08302
2. Microsoft Research's GraphRAG paper and a review paper on various uses of knowledge graphs:
https://www.microsoft.com/en-us/research/blog/graphrag-unlocking-llm-discovery-on-narrative-private-data/
Key Trends Shaping the Future of Infrastructure.pdfCheryl Hung
Keynote at DIGIT West Expo, Glasgow on 29 May 2024.
Cheryl Hung, ochery.com
Sr Director, Infrastructure Ecosystem, Arm.
The key trends across hardware, cloud and open-source; exploring how these areas are likely to mature and develop over the short and long-term, and then considering how organisations can position themselves to adapt and thrive.
UiPath Test Automation using UiPath Test Suite series, part 4DianaGray10
Welcome to UiPath Test Automation using UiPath Test Suite series part 4. In this session, we will cover Test Manager overview along with SAP heatmap.
The UiPath Test Manager overview with SAP heatmap webinar offers a concise yet comprehensive exploration of the role of a Test Manager within SAP environments, coupled with the utilization of heatmaps for effective testing strategies.
Participants will gain insights into the responsibilities, challenges, and best practices associated with test management in SAP projects. Additionally, the webinar delves into the significance of heatmaps as a visual aid for identifying testing priorities, areas of risk, and resource allocation within SAP landscapes. Through this session, attendees can expect to enhance their understanding of test management principles while learning practical approaches to optimize testing processes in SAP environments using heatmap visualization techniques
What will you get from this session?
1. Insights into SAP testing best practices
2. Heatmap utilization for testing
3. Optimization of testing processes
4. Demo
Topics covered:
Execution from the test manager
Orchestrator execution result
Defect reporting
SAP heatmap example with demo
Speaker:
Deepak Rai, Automation Practice Lead, Boundaryless Group and UiPath MVP
3. Introduction
“Every informed person needs to know about Bitcoin because it might be one of the
world’s most important developments.” Leon Luow, Nobel Peace prize nominee
“We have elected to put our money and faith in a mathematical framework that is free of
politics and human error.” Tyler Winklevoss, Co-founder of ConnectU, CEO of Gemini
Blockchain has been a “hot topic” in the last couple of years. Topics like AI, Big Data,
IoT, Blockchain and especially Bitcoin are buzzwords that tend to be overused and
sometimes overhyped by the general public. In this paper, the view we shall argue is
that tokens like Bitcoin and Ether only represent the tip of the iceberg: the Blockchain
technology exists outside of Bitcoin and even outside of any cryptocurrencies. As long
as transactions are made and third parties are involved, a disruptive innovation using
blockchain can be made.
As mentioned in Sapiens , by Yuval Noah Harari, money is a concept that only exist1
thanks to our imaginative behaviors. Money is not just coins and bills but actual trust. Its
value depends on our trust in the system. Harari explains that money is the most
pluralistic system of mutual trust ever devised.
Therefore for transactions to occur, users must trust the system. And that is where
blockchain really adds value. According to The Economist , the blockchain lets people2
who have no particular confidence in each other collaborate without having to go
through a neutral central authority. Simply put, it is a machine for creating trust, not only
for digital payments but for a wide array of services.
Taking this into account, we will first have a quick look at the history of blockchain, the
past successes and failures and the potential market opportunities for this particular
technology. Thereafter, a more in-depth analysis of the underlying technology will be
carried out to help understand the real added-value behind the buzzword. In a third part,
we’ll discuss the business and social consequences related to its use before analyzing
its potential applications in a modern society.
1
Harari, Yuval N., et al. Sapiens: a Brief History of Mankind. Vintage Books, 2015
2
“The Trust Machine.” The Economist, The Economist Newspaper, 31 Oct. 2015
3
4. Blockchain can be defined as “a digital ledger in which transactions made are recorded
chronologically and publicly” . As the name suggests, it is an irreversible chain of3
blocks, where each block contains a list of transactions. The latter is connected to the
transaction before and after it. The users agree on a shared ledger to prevent fraud and
inefficiencies. The network is distributed and works on a consensus-based approach to
remove any third parties and to prevent any system administrators from deleting or
modifying a valid transaction, or on the contrary, to integrate any fraudulent transaction
in the chain.
Quick historical recap
Ironically enough, the history of blockchain starts with Bitcoin.
Bitcoin was first mentioned in the now famous white paper, Bitcoin: A Peer-to-Peer
Electronic Cash System . In the latter, the one who goes by the name Satoshi4
Nakamoto introduced the idea of a cryptocurrency that could delete third party’s
involvement in digital payment transactions and prevent the reproduction of the digital
information or what we call “the double-spending problem”.
Mathematicians, computer-scientists and game-theorists then quickly realized that,
although Bitcoin had potential, the real treasure was residing in the underlying
technology now known as blockchain. Realizing that was the second main discovery in
the short but compacted “blockchain history”.
Introduced to the general public two years ago, Ethereum: the Bitcoin’s main rival in the
crypto world, has seen an incredible growth with more than “2,000 percent so far in
2017” .5
Without going into too many details, the Ethereum platform uses blockchain to create
peer to peer smart contracts. The official token is called Ether and was, quite ironically,
first mentioned in 2013 in a paper written by a Bitcoin programmer, Vitalik Buterin, in
response to the rigidity of the Bitcoin blockchain system.
The most recent innovation regarding the blockchain is the proof of stake. In a few
words, the proof of stake is set to replace the proof of work, an algorithm which currently
ensures the security of the blocks. Proof of stakes systems are expected to provide a
similar level of security without using such an incredible amount of computational
power.
3
“Blockchain - Definition of Blockchain in English | Oxford Dictionaries.”
4
Nakamoto, Satoshi. “Bitcoin: A Peer-to-Peer Electronic Cash System.”
5
“The History Of Ethereum, In One Infographic.” Benzinga
4
5. Market opportunities
Such a disruptive technology, although young, has shaken the market since its creation.
Blockchain killer apps (Bitcoin and Ethereum), are known to be extremely volatile and
risk-averse investors usually tend to avoid them. Early investors in Bitcoin or Ether
have experienced several crashes and recoveries per year. A crash in the stock price in
January could be followed by an incredibly fast recovery of the same cryptocurrency
reaching record price the month after that. As usually mentioned, investing in the
Blockchain cryptocurrencies is not for the faint-hearted. However, in the medium to long
term, those early investors who had the “stomach to hold onto their stakes have been
handsomely rewarded” .6
Betting on the NYSE Bitcoin Index level is not the only way to benefit from those
blockchain applications. Paying goods or services using Bitcoins in countries affected
by a colossal inflation can also be presented as an opportunity for investors. Countries
considered politically unstable are the most susceptible to suffer from inflation and
therefore benefit from the use of cryptocurrencies to transact.
Notable Successes...
Bitcoin
As previously mentioned, the Bitcoin blockchain is by far the most popular one.
Considered as the original “blockchain”, bitcoin has seen an incredible growth in terms
of market capitalization since its introduction in May 2013. Its market capitalization was
multiplied by almost 30 in four years, going from an initial value of 1.575 B$ to 44.58 B$
in June 2017 (see graph below).
6
“The History Of Ethereum, In One Infographic.” Benzinga
5
6. Graph 1. Bitcoin Market cap and Price evolution - Highcharts.com
One can also note how volatile the price (USD) has been this year. Going from less
than 1000 USD$ to almost 2950 USD$ in a couple months.
Ethereum
Ethereum can be seen as an improved Bitcoin. Not only can it be considered as a digital
currency, using the Ether as a token, but it is also an open source software. The latter
allows the emergence of new blockchain-based businesses by facilitating the process of
creating blockchain applications. Instead of starting from scratch, Ethereum provides a
platform that allows one to build potentially thousands of new applications on top of it.
In other words, any business that is currently centralized can be decentralized using
Ethereum. Musicoin, which allows singers and musicians to license their works and
FirstBlood, a decentralized eSport reward platform are both built on top of the Ethereum
platform .7
Ethereum’s shares in the cryptocurrencies market has risen astronomically over the last
few years. From 3-5% in the beginning of 2017, it quickly rose to almost 30% in June
2017 . However, it is undeniable that its main weakness remains its tremendous8
volatility. A weakness that all blockchain-based cryptocurrencies seem to share.
7
Initiative, HBS Digital. “Will Ethereum Be the Platform That Successfully Brings Blockchain into the
Mainstream?” Medium, Digital Initiative Digest, 7 Mar. 2017
8
Chaparro, Frank. “Ethereum's Share of the Cryptocurrency Market Has Exploded.” Business Insider,
Business Insider, 13 July 2017
6
7. The advent of the blockchain allowed many other companies to thrive. To pay in bitcoin,
one might use BitPay or Bitstamp. To get the latest news and market capitalization of
bitcoin or other cryptocurrencies, one might use coindesk, Coin telegraph or Bitcoin
news. If a new cryptocurrency startup wishes to raise capital without going to the
Venture Capitals or the traditional banks, it can do so via an ICO (Initial Coin Offering).
The early investors in this new startup will be rewarded in percentage of this new digital
currency in exchange for Bitcoin .9
… and Failures
Although the Blockchain technology offers a very secure distributed system, it is not
flawless and has been exposed to a few cyber attacks in the last decade . As of today,
the main pillars of the Blockchain are the digital currencies. According to the Financial
Times, cyber attacks targeting digital currency apps using blockchain “has left the
financial services industry wondering whether new blockchain technology can be made
secure enough from criminals” .10
Apart from the downturn in bitcoin and ether prices, the blockchain has known other
failures. The sudden failure of the biggest bitcoin exchange platform: Mt. Gox, in 2014
provoked the vanishing of more than 450 M$. Black hat hackers highlighted the
importance of security in cryptocurrency exchanges. Another significant hack was the
collapse of the DAO (decentralized autonomous organization) in June 2016 which
resulted in the DAO being delisted from major trading platform built on top of the
Ethereum platform (Poloniex, Kraken) .11
The blockchain ecosystem is flourishing as years pass. The number of players involved,
of applications created and of ICOs are key metrics that assess this positive evolution.
These impressive disruptions are mainly due to the blockchain technology in itself,
which we will analyze in more-depth in the next paragraph.
9
Momoh, Osi. “Initial Coin Offering (ICO).” Investopedia, 3 Aug. 2017
10
Kuchler, Hannah. “Cyber Attacks Raise Questions about Blockchain Security.” Financial Times, 12
Sept. 2016
11
“The DAO (Organization).” Wikipedia, Wikimedia Foundation, 9 Aug. 2017
7
8. How does the Blockchain work?
The Blockchain is a quiet complex concept with a vast array of applications. But to
understand its potential for the future one should try to understand its technical
foundation. The Blockchain uses a Distributed Network, Encrypted Communication,
Hashing to ensure uniqueness and Proof of Work to offer trustless consensus. This
section aims to explain those four key concepts and how they are used in the
Blockchain.
A Distributed Network
The Blockchain relies on the participation of a large network of computers that store a
local copy, also called ledger, of the Blockchain on their computers. Networks can be
set up in many different ways and, depending on the requirements, each type of
network has benefits and disadvantages. The Distributed Network Architecture that
Blockchains uses ensure that this system is extremely stable and cannot be controlled
or destroyed by a single computer or even a larger group of computers. As illustrated in
Fig. 1, a centralized network is very basic and therefor simple to set up. But there is a
single critical node that controls the entire system. Furthermore it is only working for
small networks as all the traffic has to go through the main node. A Decentralised
Network is more reliable as it has fewer critical nodes and not a single node which
would destroy the entire system. A Distributed Network on the other hand is extremely
reliable and stable once set up as there is not a single critical node and barely a
possibility to destroy the system with a bundle of nodes.
Figure 1: Centralized vs Decentralized vs Distributed Networks
8
9. Public Key Encryption
Figure 2: Illustration of Public Key Encryption
All critical communication in the Blockchain is encrypted and verified. The Blockchain
usually uses Public Key encryption which is illustrated in FIgure 2. Every node in the
network owns a private and a public key. Each pair of keys is entangled with one
another. That means, that if the private key encrypts only the public key can decrypt and
vice versa. Every node makes their public key publicly available and tags it with their ID
so that everyone knows who it belongs to. Now packages can be send encrypted
through the network. Lets use the example of Bob and Jane from Fig 2. to give an
example. In order for Bob to encrypt his message to Jane, he takes her public key and
locks the message with it. If Bob now sends it to Jane, only she would be able to
decrypt the message. The problem is, that she is not able to verify where this message
came from. So what Bob also does is, that he encrypts his message with his own
private key. Having encrypted it with his private key and Janes public key, Jane now
can open the message with Bobs public key to see if he was the one who locked it and
then decrypt it with her private key to view the message. This is a simple explanation of
how encryption usually is handled on the Blockchain.12
12
Public Key Cryptography - Computerphile. Computerphile, 22 July 2014
9
10. Hashes and Merkle Trees
What is hashing? To put it into simple words it is just a way of transforming a string of
words into a long sequence of characters and numbers which seem to be complete
gibberish.
Figure 3: Illustration of how hashing ensures unique Hashes for Inputs
As Figure 3 shows, these hashes that are being generated are unique (in the huge
majority of cases) and can therefore act like a unique ID to a string without actually
revealing anything about it. The concept of using hash values by itself would not be very
useful in the Blockchain, but in combination with Merkle Trees it becomes a vital
component of the technology. So in the Blockchain every single transaction is sent
through a hash function to create its unique hash value.
A Merkle Tree applies the concept of hash values to many transactions and results in a
single hash value which is dependent on every previous hash. It does it by inserting
pairs of hashes into a hash function until there is only a single hash left, the so called
Merkle Hash. So if anyone tries to change a previous transaction it will be directly
visible, since this will change the big Merkle Hash.
10
11. Proof of Work
The last major concept involved in the Blockchain that this paper will cover is the idea
behind Proof of Work. It is the missing part in a Block that we have not covered yet.
Figure 4: Illustration of the Proof of Work process
The Proof of Work is basically a very complex mathematical problem which is sent into
the network to be solved. The problem is so complex, that it has to be solved using
brute force which requires a huge amount of CPU power. And even with a large CPU,
one is not guaranteed to solve the Proof of Work. In the Blockchain, this Proof of Work
uses the hash from the previous block in the Blockchain, the Merkle Hash of all the
transactions in the new block and a temporary Nonce Value (Hash). These three
hashes in addition with a Proof of Work Hash need to result in a certain number. An
example could be something that starts with five 0’s. This is enormously difficult to
compute. The first node to calculate this Proof of Work Hash gets to add the Block to
the Blockchain and gets a reward since it is very expensive (energy cost) to compute
such complex problems. Since the PoW problem can only be tackled by Brute force and
can be tackled by every node in the network it is not possible to be sure, that one will be
able to add a new Block to the Blockchain which destroys the incentive of manipulating
the Blocks in any way.
11
12. Blocks and the Blockchain
The Blockchain is a ledger which records all the transactions in a highly secure and
incorruptible way and stores those on each node in the distributed network making it
very reliable and democratic. It does this by
creating so called Blocks. Any node in the network
can attempt to create and add a Block to the
Blockchain.
A Block contains a list of transactions which are
gathered from the ether of transactions that haven’t
been formally verified and recorded in the ledger
yet. This list of transactions is then hashed through
the Merkle Tree leading to a Merkle Hash of all
these transactions. The Block furthermore contains
the Hash of the latest Block that has been added to
the Blockchain as well as a Nonce Value which is
needed to compute the Proof-of-Work Hash which
in return will be the unique Hash of this Block. This
puzzle is sent out to be solved and once a node in
the network finds the correct Hash this Block of
transactions is added to the Blockchain.
The Blocks can have a lot more information tags
depending on its implementation. Some of the
most common features are version information,
timestamps and information about the current
complexity of the network.
Since the Blockchain is only a technology, there
are many version of the Blockchain depending on
what it is used for specifically. One can almost see it
as some kind of operating system that runs the above applications namly Bitcoin,
Ethereum or similar.13
13
D'Aliessi, Michele. “How Does the Blockchain Work?” Medium, 1 June 2016.
12
13. Business and Social Benefits of Blockchain
After discussing the technical details and explaining the underlying components as well
as the mathematical concepts this subsection aims to bridge the technological aspects
to potential applications in the future. Basically the focus lies on the business point of
view to formulate general benefits generated by the technology and identify
characteristics which are responsible for the disruptive nature of the Blockchain
Technology.
Besides benefiting businesses, Blockchain technology also has social benefits, for
instance the increasing transparency empowers users and enables trustworthy
transactions between two parties. Thus the technology’s inherent transparency
characteristics has the potential to affect many different transaction processes where a
third party, the so called intermediary, was needed to build trust between two opposed
parties with diverging interests, where the intermediary ensured the correct execution of
a defined task. With Blockchain Technology the intermediary gets obsolete because
cryptographic characteristics and transparency secure a trustless two-party exchange,
which in essence describes the need for trusting the technology but not necessarily the
participants in the process . As a result users are empowered and have the opportunity14
to control their information and transactions themselves. All these aspects are mostly
supported through the application of a consensus mechanism in a distributed network
with direct communication and redundant stored information.15
On the business side a durable and reliable transaction system is achieved. Enabled by
the Blockchain’s underlying distributed topology in form of a peer-to-peer-network and
the replication of information within this network provides a highly available system,
mostly because it is very unlikely to crash the whole system and the failure of a single
node does not cause harm to the network and its functionality. Furthermore the data is
complete in every node, because the whole blockchain data is stored and replicated
across the network.16
As stated beforehand the users need to trust the technology or moreover the process’
integrity, which ensures an execution exactly as agreed between the parties. But not
14
Berg, Henry. “What Does It Mean That Bitcoin Is Trustless?” Quora, 1 Nov. 2016
15
Boersma & Bulters. “Blockchain Technology: 9 Benefits & 7 Challenges.” Deloitte Nederland, 5 Apr.
2017; Bashir, Imran. “Benefits and Limitations of Blockchain.” Packt Publishing Ltd., 2017
16
Boersma & Bulters. “Blockchain Technology: 9 Benefits & 7 Challenges.” Deloitte Nederland, 5 Apr.
2017; Bashir, Imran. “Benefits and Limitations of Blockchain.” Packt Publishing Ltd., 2017
13
14. only the execution also the immutability is secured by the protocol, thus tamper proof
records can be provided to a business. The immutability thereby relies on hash values
and Merkle Trees, which make it possible to detect frauds more easily, because only
one minor change in a block is leading to a totally different hash value of the block and
therefore also of the whole blockchain. Records and changes are visible to every
involved party and a risk reduction in businesses consisting of different parties can be
achieved.17
To conclude the Blockchains impact on businesses the simplified process should be
mentioned. Complex interactions through intermediaries are replaced with direct
communication and the recording of transactions in a secure public ledger which
support the efforts of companies to make their processes more time and cost efficient.
The opportunity to directly transact any kind of information to the counterpart at any time
can reduce cost through the loss of the intermediary and saves time because it does not
need to be processed by the third party.18
Potential Applications
The Blockchain Technology is often only associated with the finance industry and its
disruptive power in cryptocurrencies. The following section aims to show the
technology’s potential to change several industries and processes besides finance.
Therefore current problems and inefficiencies will be indicated and it is discussed how
the application of blockchain benefits these processes.
Internet of Things (IoT)
The Internet of Things (IoT) is a concept where physical objects are enhanced with
sensors, actuators and communication modules, to gather data and connect with other
devices as well as processing entities via the Internet Protocol (IP) to analyze and
obtain important information not accessible before. Through these information smart
devices can enhance our daily life in smart home applications, production process due
to the Industrial Internet of Things (IIoT) and driving experiences with connected cars.19
Besides the improvement achieved through the connectivity of the technology, a major
challenge is to deal with security aspects. Security, reliability and privacy issues need to
17
Boersma & Bulters. “Blockchain Technology: 9 Benefits & 7 Challenges.” Deloitte Nederland, 5 Apr.
2017; Bashir, Imran. “Benefits and Limitations of Blockchain.” Packt Publishing Ltd., 2017
18
Boersma & Bulters. “Blockchain Technology: 9 Benefits & 7 Challenges.” Deloitte Nederland, 5 Apr.
2017; Bashir, Imran. “Benefits and Limitations of Blockchain.” Packt Publishing Ltd., 2017
19
Chui, Michael, et al. “The Internet of Things.” McKinsey & Company, Mar. 2010
14
15. be addressed to secure IoT systems in homes, cars and factories and prevent
manipulation of processes and recorded data. This can be referred to the underlying
client-server-model. In a centralized network the IoT-devices are connected with the
cloud to process and store the produced data, because of the device’s limited
computational power. Furthermore single points of failure, where hackers can place
misleading algorithms and tamper data, need to be eliminated to prevent the corruption
of the whole system, which can cause serious financial damages or leads to dangerous
traffic situations.20
Blockchain can address these issues by offering a distributed network and resilient IoT
ecosystem, where IoT devices can be connected, their transactions processed and
historically recorded as well as their communication coordinated. Through the
elimination of a single point of failure it is easier to prevent the system from malicious
manipulations. Similar to the protected transactions in cryptocurrencies like Bitcoin data
flows within the Internet of Things can be tracked and secured in a tamper-proof public
ledger. Also in regards to the Industrial Internet of Things compliance and regulatory
requirements can be met due to the immutable record of transaction and
communication.21
Some companies are already working on combining their IoT solution with Blockchain
Technology to achieve a secure system. One example is IBM’s Watson IoT Platform
and its built-in capability to add IoT generated data to a private blockchain. The IoT
devices are connected to the Watson IoT Platform, which manages and analyzes the
received data. Moreover, it filters the data and translates its format to fit the blockchain
contracts API, so only the required information is sent to the IBM Blockchain. The latter
is a private blockchain, which replicates the device data into its distributed network and
runs transaction validation through the application of smart contracts. This enables a
transparent and protected sharing of device data among all involved business partner.22
At the end of May 2017 Toyota Research Institute announced to build a consortium with
several blockchain startups and research institutes to uncover the potential of using the
blockchain in the context of developing driverless or autonomous cars. They want to
determine ways to enable level 5 autonomous driving and moreover define use cases
regarding services all around driving, like toll payment and insurances. Their vision is to
make driving and testing data accessible for all players in the autonomous driving field
20
Banafa, Ahmed. “A Secure Model of IoT with Blockchain.” OpenMind, 21 Dec. 2016
21
Banafa, Ahmed. “A Secure Model of IoT with Blockchain.” OpenMind, 21 Dec. 2016; Compton, Jason.
“How Blockchain Could Revolutionize The Internet Of Things.” Forbes Magazine, 27 June 2017
22
“Implement Your First IoT and Blockchain Project.” IBM Watson IoT - Private Blockchain, IBM
Corporation, 2017
15
16. by a secure and distributed ledger to reach the goal of autonomy faster while still
fulfilling safety aspects. The collaborating startup Oaken also mentioned the possibility
using the blockchain to store a digital identity of the vehicle and as result enabling
time-stamped location tracking.23
Supply Chain
“Global supply chains rely on a system that locks billions of dollars in a complex network
of intermediaries and financiers.”24
A supply chain is a process connecting different players to enable the production and
sale of a specific good for the costumer. It consists of raw material vendors, producers,
warehouses, distributors and retailers all interconnected and linked to each other with
the mutual goal to deliver the product to the customer.25
These interplays involving several different parties require, as stated in the quote above,
trustworthy, third parties, known as intermediaries to manage their complex interaction,
verify the authenticity of goods and guarantee proper transportation, storage and
manufacturing conditions.26
The main issue regarding supply chain is the question, if the process of complex
interaction via intermediaries can be somehow simplified by making the third party
obsolete. According to Wipro the supply chain comprises the connecting thread which
encapsulates certain, reoccurring problems. The following tasks need to be regarded
when managing a supply chain successfully, besides contracts, payments and logistics,
labeling, sealing as well as securing the process against counterfeiting and frauds.27
Knowing the benefits Blockchain can provide in terms of building a trusted process to
secure interactions between two parties might be the key to design a simpler supply
chain. Not only the Blockchain but also the Internet of Things, discussed in the previous
section, needs to be taken into account as illustrated in Figure 6. In combination these
concepts can enable a transparent view on the whole supply chain as well as its
traceability. Therefor goods need to be enhanced with sensors and communication
components to detect and communicate predefined measurements to the blockchain,
23
Prisco, Giulio. “Toyota, MIT Developing Blockchain-Based Project to Federate Data Generated by
Connected Cars.” Crypto Insider, 25 May 2017
24
“Watson IoT and Blockchain: Disruptor and Game Changer.” IBM Corporation, 27 Oct. 2016
25
“Supply Chain.” BusinessDictionary.com, WebFinance Inc.
26
“Watson IoT and Blockchain: Disruptor and Game Changer.” IBM Corporation, 27 Oct. 2016
27
Greenfield, David. Is Blockchain Coming to Manufacturing? LinkedIn Corporation, 26 June 2017
16
17. where these information are shared between all involved parties and furthermore stored
immutably. Thereby trust between all participants can be supported and the business
partners can interact directly.28
Figure 6: Illustration of a Supply Chain using IoT to connect to the Blockchain
IBM for instance teamed up with several industry partners to provide an IoT and
Blockchain solution to support the supply chain and transportation processes. One
partner is Maersk a global container shipping company and the other one is Walmart to
secure food safety in its supply chain. Both examples are outlined to display
opportunities achieved with the application of Blockchain.
On one hand Maersk as the world largest shipping company has to deal with a lot of
manual and analog paperwork during the transportation of goods. The supply and
transportation processes are currently inefficient in terms of non-digitized processes in
the shipment of containers and thereby highly reliable on timely human effort, because
the shipment documents have to pass many different hands which can lead to delays.
According to IBM a single shipment “can require sign-off from 30 unique organizations
and up to 200 communications” . In this process documents can get lost or overlook,29
which is why containers can stuck in ports, the whole supply chain is delayed and cost
are increasing.30
28
“Watson IoT and Blockchain: Disruptor and Game Changer.” IBM Corporation, 27 Oct. 2016;
“Implement Your First IoT and Blockchain Project.” IBM Watson IoT - Private Blockchain, IBM
Corporation, 2017
29
“The Paper Trail of a Shipping Container.” IBM Corporation, 3 Mar. 2017
30
Haswell & Storgaard. Maersk and IBM Unveil First Industry-Wide Cross-Border Supply Chain Solution
on Blockchain. 5 Mar. 2017
17
18. Through the application of blockchain the process can be digitized by keeping the
shipments transparent to all participants while still keeping up security aspects. The
whole container shipment is traceable at any time through a shared, distributed ledger,
recording all the supply chain events and information documented. The progress of a
shipping gets viewable due to the end-to-end-visibility and documents, like bill of lading
and customs status, get accessible in real time. The modification, deletion or appending
of information requires the consensus of the network. Which is why frauds and errors as
well as waste and costs can be reduced and as a result the whole process gets
improved.31
On the other hand Walmart utilizes the combination of Blockchain Technology and the
Internet of Things to guarantee food safety to its customer. Food retailers struggle with
the socalled food safety challenge. Occurring contamination outbreaks need to be
prevented or at least traceable to determine its source and thereby distinguish between
contaminated and non-contaminated chains or suppliers. In the past the process to
narrow down the possibilities to the responsible origin took too long and in the
meantime whole food segments could not be sold to the customer, which led to financial
losses of several suppliers and moreover good food was wasted, as seen in 2006 with
the spinach outbreak in the United States. If many foods contain one ingredient
depending on one supplier, this can lead to a serious domino effect.32
Walmart and IBM want to face this challenge by connecting every business partner
involved in the supply chain through the blockchain. Information about farming,
production, packaging and transportation should automatically be synchronized and
documented in the tamper-proof ledger of the blockchain, to enable tracking of
conditions as well as allow customers to have a traceable insight into were the product
came from. This can be achieved through using smart devices in the whole chain, which
are communicating with the blockchain and for instance temperature, location and
harmful conditions can be immutably stored.33
This approach also provides a way to prevent food frauds like the horse meat scandal
2013 in Europe, because the verification of authenticity is enabled. This aspect will be34
regarded in the next section.
31
Haswell & Storgaard. Maersk and IBM Unveil First Industry-Wide Cross-Border Supply Chain Solution
on Blockchain. 5 Mar. 2017
32
Genius of Things: Blockchain and Food Safety with IBM and Walmart. IBM Watson IoT, 16 Feb. 2017;
“Blockchain and Food Traceability Infographic.” IBM Corporation, 2016
33
Genius of Things: Blockchain and Food Safety with IBM and Walmart. IBM Watson IoT, 16 Feb. 2017;
“Watson IoT and Blockchain: Disruptor and Game Changer.” IBM Corporation, 27 Oct. 2016
34
Genius of Things: Blockchain and Food Safety with IBM and Walmart. IBM Watson IoT, 16 Feb. 2017
18
19. Verification of the authenticity
The verification of authenticity of goods and thereby the traceability of origins is one
major goal of applying supply chains and the food safety activities of Walmart and other
retailers. But many producers and retailers across industries struggle with counterfeiting
and trademark piracy.35
According to David Greenfield’s article Is Blockchain Coming to Manufacturing? “ 7-8
percent of global trade is comprised of counterfeit/pirated goods” . Currently, validation36
and verification of goods and services within the supply chain cannot be done in a
reliable way due to the lack of transparency. Not only can companies lose their
reputation but counterfeit products can set its user or consumer on health and safety
risks. Wipro wants to counteract the transparency issue and provide a reliable way to
verify goods by registering every product with a unique identifier and its key information
on the blockchain. Along the supply chain the authenticity is verified at every step and
information can be added to the blockchain. Through the tracking and traceability, the
originality of a product can be proven to the customer.37
Another blockchain-based application is provided by Project Provenance Ltd to support
retailers, producers, shoppers as well as partners like certification organizations or NGO
and build trust in products. Their goal is to provide customers a transparent view on
“origin, journey and impact” of the products they are buying and support businesses in38
enabling them to prove their competitive attributes like origin of ingredients or “impact
on environment and society” . Quality can be guaranteed and the authenticity of fair39
trade products or cloths can be proven through the secure, public ledger of blockchain
technology.40
For example to proof sustainability of tuna they started a pilot in Indonesia using
“mobile, blockchain technology and smart tagging” . The fisherman is registered and41
certified by a local NGO. When he catches tuna he is sending a simple SMS to register
its catch on the blockchain. Afterwards it gets transferred to the supplier and the
following steps on the supply chain. Every step is added to the existing information on
the block chain and a product history is created.42
35
Greenfield, David. Is Blockchain Coming to Manufacturing? LinkedIn Corporation, 26 June 2017
36
Greenfield, David. Is Blockchain Coming to Manufacturing? LinkedIn Corporation, 26 June 2017
37
Greenfield, David. Is Blockchain Coming to Manufacturing? LinkedIn Corporation, 26 June 2017
38
“Every Product Has a Story.” Project Provenance Ltd, 2017
39
“Every Product Has a Story.” Project Provenance Ltd, 2017
40
“Every Product Has a Story.” Project Provenance Ltd, 2017
41
“From Shore to Plate: Tracking Tuna on the Blockchain.” Project Provenance Ltd, 15 July 2016
42
“From Shore to Plate: Tracking Tuna on the Blockchain.” Project Provenance Ltd, 15 July 2016
19
20. All in all the application of blockchain technology in the context of authenticity simplifies
verifying as well as proofing the originality of not only fair trade products, foods and
clothes but also files being unaltered.
Conclusion
Verification processes, Supply Chains and Internet of Things scenarios are exploiting
the capabilities the Blockchain Technology has to offer. Mostly because the blockchain
can provide secure transactions and communications between participants with
diverging interests. The blockchain stores information immutably and makes it
accessible for every participant, which enables a overall transparency and traceability of
actions.
The Internet of Things is just one of many sectors that could be disrupted by the
blockchain technology in the upcoming years or decades. Blockchain-News does an
incredible job at displaying the potential uses of Blockchain in different sectors. It
includes the Financial Sector with micro-finance, loan records and derivatives (forward
and futures contracts) as well as the Public Sector (Voting, Passport data, court
records..), the private one (storage of medical data, private contracts, HR records..) and
even extremely sensitive information such as nuclear codes .43
However, the Blockchain Technology still has to face a few challenges in the upcoming
years. Democratizing such a disruptive technology will take time. The example of
Bitcoin shows how complicated it is for a customer to shift from the traditional banking
system to a digital currency one. As we have seen, an incredible amount of
computational power is also required to validate the transactions. As the technology
gets more popular every day, the user base grows and the number of daily transactions
with it. To overcome this limitation, computer scientists often refer to blockchain scaling.
To prevent every computer in the distributed network to process every transaction, a
scaled blockchain would theoretically divide the work efficiently and without
compromising its security. Increasing the validation process would then allow
blockchain to widen its scope… but at what price?
43
“Potential Uses of Blockchain.” Blockchain News
20