Last year, Consensus was the blockchain event to attend, and this year it’s shaping up to be the same. Presented by CoinDesk, the blockchain technology summit in New York City will feature more than 100 speakers and draw a crowd of over 2,000 attendees. However, a few things will have changed. In 2016, industry leaders were enthusiastically discussing how they would test blockchain technology in various proof of concepts. Blockchain was coming and the way to stay ahead was to explore and embrace the opportunities that disruption would bring. Participants at Consensus 2017 will encounter a whole different atmosphere as blockchain has now been brought to life in several production environments.
Blockchain in production
Blockchain is the underlying distributed ledger technology of Bitcoin, so that is of course the first example of it in production. However, there are many other uses for this technology, and some have already been established. Several IBM Blockchain clients are making blockchain real in a diverse array of use cases and helping to transform their industries in the process.
Northern Trust launched the first commercial deployment of blockchain technology for the private equity market. Blockchain allows a fund to transfer ownership stakes and be managed, serviced and audited throughout the investment lifecycle. The solution is currently available to clients on a selective basis.
Walmart is using blockchain to advance food safety through increased transparency and efficiency along the supply chain. With blockchain, foods can be digitally tracked from source to customer, better ensuring authenticity and making it possible to issue selective recalls in the event a product is contaminated.
Maersk built a blockchain solution designed to help manage and track shipping containers across the world by digitizing the supply chain process from end-to-end. Blockchain can enhance transparency and facilitate secure sharing of information among trading partners. The solution is expected to be widely available to support multiple parties across the ocean shipping ecosystem later this year, and, once adopted at scale, it has the potential to save the industry billions of dollars through reduced administration costs and the elimination of delays due to documentation errors. Check out the video to learn more.
Key to putting blockchain in production for business networks is the technology it is built on. These blockchain solutions are based on the Hyperledger Fabric, an open-source transaction framework built for enterprise and maintained by Hyperledger, an openly governed community hosted by The Linux Foundation.
IBM at Consensus
IBM is excited to be joining the ranks of enterprise tech leaders, industry startups, investors, financial institutions, and academic groups at Consensus this year. The following activities and sessions are confirmed:
On Saturday, 20 May, 9 AM to 9 PM and Sunday, 21 May, 8 AM – 5 PM, teams will compete in a hackathon for some awesome prizes.
On Monday, 22 May, Arvind Krishna, SVP, Hybrid Cloud and Director of IBM Research, will give the IBM keynote from 9:30 – 9:45 AM.
Stay tuned as more information will be released on the IBM booth, additional speaker sessions, the hackathon, and giveaways.
The future of blockchain
Blockchain is real and it’s here to stay. How much it will change the business world as we know it is yet to be seen. Will you contribute to its foundation and help advance blockchain as an enterprise-class, cross-industry open standard for business transactions? Or will you stick to the sidelines? Learn how you can reimagine your industry with blockchain and register for Consensus 2017 to be part of the transformation.Be sure to sign up for the developerWorks newsletter and join the community to stay connected:
There are over 17 million shipping containers in the world, of which five to six million are currently being transported on oceans, rails and roads. In the shipping process, inconsistent information and limited transparency across organizational boundaries can sometimes hinder the efficient movement of goods. These costly inefficiencies could soon be eliminated by blockchain supply […]
After being stagnant for a long time, the global trade finance industry has been on the receiving end of efforts to innovate through new technologies and development. Several of these efforts are based on the use of blockchain, a type of shared, distributed ledger on which the history of transactions is digitally recorded and cryptographically […]
The Linux Foundation’s Hyperledger Fabric is one of the various Hyperledger projects and represents a blockchain for business framework implementation. It’s a permissioned distributed ledger that supports desired enterprise capabilities such as smart contracts, consensus, confidentiality, resiliency and scalability. In this article I will focus on confidentiality, defined as the ability to control access to sensitive […]