Transcript: #StandardsGoals for 2024: What’s new for BISAC - Tech Forum 2024
BLOCKCHAIN EXPLAINED: POTENTIAL USE CASES ACROSS INDUSTRIES
1. WHY WE NEED TO GET
SAVVY ABOUT
BLOCKCHAIN
Origins | Building Blocks|
Potential Scope for Industry
Involvement | Cross Industry
Use Cases
Chris Stanley
Digital Evangelist |
Photographer | Free Thinker
2. BLOCKCHAIN EXPLAINED
Foreword
• About BlockChain
• Executive Summary
• BlockChain as Understood Today
The Building Blocks
• What constitutes a typical Block?
• The BlockChain at work
• Types of BlockChain possible
Potential Involvement
Opportunities
• BlockChain Footprint – growing quick
• Use Cases – Aerospace, Adjacent domains
BlockChain Ecosystem • Players across the BlockChain spectrum
Strategies for
BlockChain Participation
• Strategic Alliances – The HyperLedger Project
• FABRIC | IROHA | SAWTOOTH LAKE
Conclusion • Getting Blockchained
4. ABOUT BLOCKCHAIN
Much has already been said and written about the humble beginnings of
BlockChain from the days of the dark web, let’s suffice to know that…
“ The first Block Chain (Originally), was conceptualized by Satoshi Nakamoto in 2008
and implemented the following year as a core component of the digital currency bitcoin,
where it serves as the public ledger for all transactions. Through the use of a peer-to-
peer network and a distributed timestamping server, a blockchain database is managed
autonomously. The invention of the blockchain for bitcoin made it the first digital
currency to solve the double spending problem, without the use of a trusted authority or
central server. The bitcoin design has been the inspiration for other applications.”
Wikipedia
It was born from the need to have a decentralized system of record, and a
distributed, autonomous authorization entity
A secure, transaction record, that can ensure immediate fraud detection
and prevent misuse
5. EXECUTIVE SUMMARY
This is an attempt to demystify the BlockChain concept and its potential to
develop solutions for, and adapt to, the different Business Scenarios (read
Challenges) that traditional technology apps and business processes are
grappling with
Any new Technology or Innovative Idea has to go through the paces to be
widely accepted and adopted across business domains; this deck contains
some of the challenges and opportunities which present themselves as on
date, as Use Cases
With little or no background to the Bitcoin or the BlockChain ecosystem,
one could begin development of applications using the APKs and SDKs which
are available in multiple development spheres – some find mention in this
deck as well
Most important for any technology to go mainstream is its ability to
respond to business needs in a fair, transparent manner and with minimum
geek intervention, while being able to track both actions and value – The
6. BLOCKCHAIN AS UNDERSTOOD
TODAY
According to the Bank of England, a
blockchain is “a technology that allows
people who don’t know each other to
trust a shared record of events”
Blockchain has the underpinnings for a
next generation IoT (Internet of Things)
architecture. – Gurvinder Ahluwalia, IBM
Despite its richly varied applications, a
blockchain such as bitcoin’s aims to realize
a simple goal. Abstractly, it can be viewed
as creating a kind of public bulletin board,
often called a “distributed ledger.” This
ledger is public. Anyone – plebeian or
plutocrat, baker or banker – can read it.
And anyone can write valid data to it.
7. THE BUILDING
BLOCKS
What constitutes a Typical Block?
The BlockChain at Work
Types of BlockChain possible
8. THE TYPICAL BLOCKS IN
BLOCKCHAIN
Each Block is made up of a
Transaction History
History could be any or all of
Previous Owner of the Block
Previous history of Transactions
Previous value of the Block
Block Time and Security Stamp
information (# Identifier)
Transactions are categorized into
BLOCKS
Each BLOCK is linked as the
transaction progresses into a CHAIN
Each BLOCK is linked chronologically
with the #ash of the previous block,
enabling an auto audit trail
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Secure Identifier
stamp
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Trusted
BlockChai
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9. THE BLOCKCHAIN
AT WORK
https://blockchain.info/
Click on the above link to watch the
BlockChain in action in real time
BlockChain workings are easily
traceable, provided you are one of the
trusted entities who share the network
in which the transactions are taking
place
BlockChain authorization is
autonomous
BlockChain moves virtual currency viz.
the Bitcoin, this is therefore an Internet
of Value, since the Bitcoin value is
constantly fluctuating
BlockChain audit trails are instantly
stored into the Blocks and can be
easily verified, and are available
forever
Image rights acknowledged as borrowed from WEF web publication originally published by
the Financial Times
https://www.weforum.org/agenda/2015/11/how-will-blockchain-technology-transform-
financial-services/
10. TYPES OF BLOCKCHAIN POSSIBLE
Current Banking System
All Banks need to validate
transactions via Central
Electronic Ledger
Public BlockChain
Open Network access available to
anyone who operates on virtual
currency like Bitcoin. Digital Ledger,
open, transparent and run by
everyone who is part of network
Private BlockChain
Open Network access available to
anyone who operates on virtual
currency like Bitcoin. Digital Ledger,
open, transparent and run by
everyone who is part of the chain,
Authenticated by all
12. BLOCKCHAIN FOOTPRINT…
GROWING QUICK
Presently
Mostly Financial Institutions that
track public transactions using
virtual ledgers
Crypto-Currencies
Smart contracts for Financial
transactions
Music Exchanges which rely on
virtual crypto currencies for online
music purchases
Smartphone Bitcoin Purchases in
Europe and UK possible without
Bank Account through a secure
unique QR Code from BitNation
Future
Blockchain in Smart Supply Chains – Aero and Auto Industry
specific
o Automated Supply Chains
o Material Handling Automation coupled with Auto-Payments for
Goods Received
o Pre-Authenticated Supply Networks and Remediation of Short
Deliveries
BlockChain Music Exchanges and DRM enabled Media Banks
BlockChain Identity Mgmt.
Smart Contracts Authority
Secure Data of Patient Medical History and Automated
Medical Therapy Mgmt.
Digital Property Anonymous authentication
Defence Aviation MRO Record Mgmt and Compliance
tracking
13. BLOCKCHAIN USE CASES
Aerospace Manufacturing
Use Case Application
Area(s)
Works best
with..
Precious
Material
shipments
Tiered Supply
Chains
IoT and
BlockChain, ERP
and
HyperLedger
Green Supply
Chains
Ensuring Supply
Chains are
Carbon Neutral
Blockchain, IoT,
Bitcoin(private)
Smart
Procurements
Third party
Pushed
Inventory + JIT
Blockchain,
ERP, IoT, Bitcoin
Tiered MRO
Service Network
Intelligent MRP
and automated
deliveries
BlockChain,
IoT, ERP, Smart
Contracts,
Adjacent Industries
Use Cases Application Area(s) Works best
with..
Employee
Healthcare
Insurance and Healthcare Policy Mgmt BlockChain, ERP,
HyperLedger
Securing the
IoT, Heavy
Industrial
Machinery
All IoT enabled Landscapes BlockChain, IoT
Predictive
Maintenance
Installed Base mgmt. BlockChain, IoT,
Smart Sensors
MRO
Operations
Intelligent MRP runs for JIT BlockChain, IoT,
ERP, Smart
Contracts,
HyperLedger
Shop floor
Security
Critical Installations, Secure DMZ areas in
Defense Mfg. sites
Blockchain, IoT,
ERP
Power
Generation
Ensuring Tap-off and link-up to the
Electrical Grid is seamlessly automated
Blockchain, IoT,
ERP
16. BLOCKCHAIN PARTICIPATION
HyperLedger by the
Numbers
5
Project
s
120 +
Contributo
rs
7
Hackfests
100
Members
The HyperLedger project is an open source collaborative effort created to advance cross-industry blockchain
technologies. It is a global collaboration including leaders in finance, banking, IoT, supply chain, manufacturing
and technology.
Fabric
Fabric is an
implementation of
blockchain technology
that is intended as a
foundation for
developing blockchain
applications or solutions.
Iroha
Iroha is a distributed
ledger project that was
designed to be simple
and easy to incorporate
into infrastructural
projects requiring
distributed ledger
Sawtooth Lake
Designed for versatility
and scalability, Sawtooth
Lake is Intel’s modular
blockchain suite.
Partnering with any of these would
mean you are working on BlockChain
17. CONCLUSION
Getting Blockchained
Identify which segment to partner in
Identify key initiatives you wish to develop upon
Partner with the right players
Create and / or get on to the Ecosystem
Develop and Deploy
Capitalize assets developed and deployed