The document provides an overview of blockchain technology and its business applications, focusing on smart contracts, which automatically execute agreements based on pre-defined conditions. It discusses key features of blockchain, such as accountability, redundancy, transparency, and integrity, while addressing common misconceptions about the technology. Additionally, it outlines potential uses for blockchain in areas like compliance, supply chain management, and cybersecurity.

1. An Introduction to Blockchain
& its Business Uses
Blockchain
smart contracts
A smart contract is a program
developed on blockchain which
automatically executes, controls or
documents legally relevant events,
transactions and actions according
to the terms of a contract
or an agreement.
Smart contracts are most effective
when parties have unequal oversight
of contractual fulfilment and when
using Internet of Things (IoT) data
e.g. sensors.
Atkins capabilities
in Blockchain
› Smart contract development
using Ethereum and Hyperledger
› Technology
consulting/architecture
Blockchain key features
Accountability
Each block is
timestamped and
signed with the
author’s public
key – providing a
clear provenance.
Redundancy
Replicating the
ledger across nodes
removes a single
point of failure for
malicious actors.
Transparency
Data is distributed
across all nodes
and not held by a
privileged authority.
Integrity
Blockchain is
append-only.
Consensus
mechanisms guard
against false data.
‘Chaining’ blocks
together makes
tampering apparent.
Misconceptions
about Blockchain
1. Blockchain is cryptocurrency
Cryptocurrency is one, albeit
the most famous application
of blockchain. Applications
exist beyond finance.

2. Blockchain is immutable
As an append-only ledger secured
by a consensus mechanism,
blockchain is almost immutable.
Data though, can be altered if a
malicious party takes over more
than half of a network’s nodes.

3. Blockchain is file storage
Blockchain is a distributed ledger
of electronic transactions/
interactions – it cannot store
conventional file types such
as PDFs, JPEGs etc.

4.
Blockchain guarantees the
truthfulness of information
Network members agree what
information should be added
to the ledger via a consensus
mechanism. This agreement does
not necessarily equate to the
truthfulness of information.

5.
There is one
Blockchain platform
There are multiple blockchain
platforms which differ in: use
cases, governance, and other
factors. Popular platforms include:
Ethereum, Hyperledger Fabric
and R3 Corda.

What is Blockchain?
› Blockchain acts as a write-only ledger of electronic transactions/interactions
bundled into units called ‘blocks’. The blockchain ledger is not centrally stored
nor is it maintained by a single party. Rather, it is stored across multiple network
members (nodes) who each hold a copy of the ledger and contribute to it.
› Blocks are submitted by nodes for inclusion in the ledger and are permanently
recorded only after validity confirmation by a consensus mechanism. Upon
the successful inclusion of a new block, the ledger is updated and replicated
across all nodes.
› Each block includes a hash uniquely computed from its contents and the
previous block’s hash. Alterations to a previous block will invalidate the hashes
of all subsequent blocks (hence, blocks are ‘chained together’).
› Every block is time-stamped and ‘signed’ by its author through public key
cryptography. This creates a ‘digital footprint’ of activities.
For futher information please contact:
Faraz Ahmad,
Principal Consultant
Faraz.Ahmad@atkinsglobal.com
atkinsglobal.com
snclavalin.com
Compliance & Audit
› Provide greater audit assurance
› Real time compliance monitoring
› Reduce manual audit processes
Supply Chain Management
› Trace goods & services through
the supply chain
› Automatically execute contracts
› Automate ‘back-office’ functions
› Onboard new suppliers more quickly
Information Assurance
› Secure records of file
authorship/ownership
› Detect unauthorised file modification
Commercial Contract Management
› Automatically execute
commercial contracts
› Simplify dispute resolution
› Automate benefits management
Self Sovereign Identity
› Automate ID/qualification verification
› E-governance/verify eligibility
for government services
Cybersecurity
› Secure cyber physical systems
› Secure public key infrastructures
› Secure software code signing
Potential uses of Blockchain