Industry Insights
Boiling Down Business Blockchain
April 19, 2017 | Written by: John Palfreyman
Categorized: Industry Insights
We are making considerable progress with blockchain customer projects – at the time of writing, we have some 31 public references! But there is still too much gobbledygook and technical waffle given when answering the simple question “So exactly what is blockchain, in business terms?”.
Maybe this will help . . .
Blockchain is a trusted, distributed ledger with shared business processes where:
Transactions are agreed by business network participants.
There is total clarity of who’s done what, when.
Which results in one view of truth shared across business network.
So disputes are quick & easy to resolve.
And the solution is resilient to failure or fraud.
For those who prefer a short (under 3 minutes) video, this one explains IBM’s approach to blockchain . . .
Want to know more about blockchain? These blog posts talk about different aspects of blockchain for business
- Blockchain Smart Contracts > http://bit.ly/BlockSmartC
- Blockchain Privacy Services > http://bit.ly/BlockPriv
- Consensus for Business Blockchain > http://bit.ly/BlockConsensus
- Cyber Security & Blockchain > http://bit.ly/HackmyBlock
and these cover some cross industry use cases:
- Supply Chain Management > http://bit.ly/BlockWhere
- Provenance > http://bit.ly/ProvBlock
- Asset Management > http://bit.ly/BlockchainBathTub
- Tacking Tax Evasion in a Digital Economy > http://bit.ly/BlockTax
- Blockchain for Asset Registration > http://bit.ly/BlockAssetReg
Comments and discussion VERY welcome!
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Michael Novak
Good overview of Blockchain. The links to other aspects especially useful. Thank you.
John Palfreyman
Thanks Michael – I’m pleased the information was of use!