By leveraging the distributed ledger technology of blockchain, companies are experimenting with new ways to make transactions. The Linux Foundation’s Hyperledger Fabric provides the foundation for developing blockchain solutions. It is designed to enable confidentiality, scalability and security in business environments through modular architecture, pluggable implementations and container technology.
IBM Blockchain partner Loyyal is using blockchain and smart contract technology to reduce loyalty program operation costs through efficiencies and increase revenues through targeting capabilities.After an interview with Loyyal Co-founder Sean Dennis, I wanted to get a developer’s perspective on working with blockchain technology and Hyperledger. Fortunately, the chief architect of Loyyal, Shannon Code, was available to answer a few questions. He has been working with blockchain technology for a little over three years, and oversees the product from a holistic viewpoint. Lately, he’s been focused on deploying the Loyyal stack to IBM Bluemix.
Q: What initially interested you in working with Hyperledger Fabric?
Watson. It’s all about Watson. I’ve been following IBM Watson since watching the Jeopardy matches. I live in the Raleigh-Durham area and thought it would be a fantastic synergy to pull cognitive capabilities into a blockchain. I started with Bluemix before IBM announced Hyperledger Fabric and suggested that IBM investigate blockchain. Long story short, Loyyal became the earliest tester of Fabric and joined the Hyperledger Project soon after.
Q: What kind of work have you accomplished with Hyperledger Fabric?
We’ve built a handful of prototypes on Fabric, from the first release of Marbles to the most recent Fabric Composer release. And now we’re building out an enterprise-grade loyalty platform utilizing Fabric and its newest features.
Q: What have you liked or what has surprised you about the technology?
Fabric has done a fantastic job combining distributed ledger technology in a way that can be used to meet the needs of businesses. The focus on security and privacy combined with modularity means that some of the hard questions that get asked now have answers.
Q: What are your opinions on the Hyperledger Project?
The Hyperledger Project is an obvious first step at global adoption and standardization. Blockchain and distributed ledger technology can’t get the attention it deserves without sharing and discovering the technology’s strengths and weaknesses. Loyyal joined the Hyperledger Project early because we understand this need for coopetition.
The Loyyal platform, built on blockchain, is transforming the loyalty and rewards industry by offering interoperability, multi-branded coalitions, superior liability management and dynamic issuance and redemption options. Where will blockchain take your company? Join the IBM Blockchain Ecosystem to access technical resources and community expertise around Hyperledger and enterprise blockchain development so you can get started on your blockchain transformation.
Also, join the IBM Blockchain community to let us know what you think!
Distributed ledger technology (DLT) has gone beyond its experimental phase and is now actively managing several enterprise workflows around the world in areas like trade logistics, export finance, inter-bank payments, and regulatory compliance. But this has not led to convergence, either to a default technology stack or to a single global network that everyone runs […]
Before cryptocurrencies, blockchain technology was unknown to most people. It was blockchain’s unique ability to manage the ownership of (virtual) currency in a decentralized and reduced-risk manner that made all the difference. The introduction of permissioned blockchains made the same functionality even more appealing to the enterprise world in the context of decentralized business asset […]
Complex business processes that involve hundreds of external partners, thousands of discrete events to be recorded and tracked, and millions in funds are excellent candidates for digital transformation using blockchain. Managing a portfolio of judicial bonds and deposits, also known as judicial guarantees, is one such process. Some countries, jurisdictions and court systems require companies […]