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Industrial IoT: Blog Post

Blockchain Use Case for 2018 | @ExpoDX @EFeatherston #FinTech #Blockchain #AI #IoT #DigitalTransformation

Anyone who has ever watched a police procedural understands the basic concept of chain of custody

Will Supply Chain Be the Breakout Blockchain Use Case for 2018?

Supply Chain. Logistics. Provenance. Hot topics around the dinner table with the family I am sure. Okay, maybe not so much. Even so, these all impact our lives daily, while we may be blissfully unaware of it. Take the dinner table for example. That savory grilled salmon filet on your plate may have come all the way from China. Those carrots and asparagus? Possibly shipped in from Peru. The fresh (out of season) fruit? Chile or Mexico could have been the origination point. What gets all those items from their source to your dinner table, while they are still fresh, is all about the supply chain.

Food is a great example to discuss because it is time critical. The product must travel a vast distance, change hands many times, cross borders, pass various inspections and reviews, customs forms, shipping from international to national to local to the last mile. Supply Chain, logistics and provenance are all key to that food successfully making it to your dinner table. Following the ‘chain of custody' (who had what when) and the ‘chain of events' (inspection, customs review) is a critical component for the supply chain to succeed.

So What Does This Have to Do with Blockchain?

While I used food as the example, supply chain fundamentally underlies every single physical item/product in your possession. The plates you eat the dinner on. The table the plates sit on. The lumber and materials used to build the home you are eating dinner in. All got there via the supply chain.

Supply Chain cuts across all industry verticals, and is an extremely complex and difficult process to manage and support. Many in those industries are looking at blockchain technology to help expedite, control, and validate these processes.

Blockchain is a distributed ledger technology. It is the underlying technology that supports the crypto-currency world (Blockchain - Why its so much more than bitcoin). According to Gartner's latest report on the hype cycle of emerging technologies, blockchain has just passed the peak of their hype cycle curve. If you read the news articles about it, one would think it has taken over the technology world. The reality is, as Gartner put it that ‘most initiatives are still in the alpha or beta stages' and ‘Enterprises are still deciding how to navigate this technology'.

Chain of Custody/Chain of Events

Anyone who has ever watched a police procedural understands the basic concept of chain of custody. If I have a piece of evidence, I need to ensure I can document the entire chain of people/places where that evidence has changed hands. For it to be valid evidence in court, that chain cannot be broken. There can be no gap, or gray area as to who had control at any point in time.

Chain of events is similar to chain of custody. Chain of events is exactly like it sounds, tracking a series of events, where it is important to know when the events occurred (e.g. inspections, document signoff). Custody and events could overlap where as well, where knowing who as well as when are critical.

Ultimately, if you think about it, supply chain is all about chain of custody and chain of events. I have product at its point of creation. That product moves through various channels, handled by various entities, until it reaches its destination or consumer. For any industry, knowing where product has been, where it currently is, and where it is going is crucial, and can be a challenge. Various industries and diverse verticals are looking at blockchain as a potential tool to help solve these challenges

  • A group of leading retailers and food companies have formed a collaboration effort and consortium with IBM trying to improve food safety and consumer confidence using blockchain
  • What could be more important than tracking and knowing the provenance of prescription drugs? A group of pharmaceutical companies including Pfizer and Genentech recently completed a pilot blockchain project allowing them to better track their meds,
  • Counterfeit product is a constant challenge for supply chain. Providing provenance of product in many industry verticals is an onging challenge. A great example of this is the diamond industry, which is looking at blockchain to establish provenance and transparency in trading.

Will Supply Chain be the Breakout Use Case

There is no denying blockchain is very high in the technology hype cycle. A lot of the media frenzy surrounds cypto-currencies and the financial services industries. When I look at what blockchain provides in the chain of custody/chain of events scenarios, supply chain could be a huge beneficiary of the business value provided by the ecosystem, providing full transparency, trust, and provenance of the products through the entire life cycle from inception to consumer. If any use case scenario has the potential to break out of the alpha/beta initiative cycle, I think supply chain is a prime candidate to do that breakout this year. Time will tell.

Miami Blockchain Event by FinTechEXPO "Call for Papers" Opens

DXWorldEXPO LLC announced today that "Miami Blockchain Event by FinTechEXPO" has opened its Call for Papers. The two-day event will present 20 top Blockchain experts. All speaking inquiries which covers the following information can be submitted by email to [email protected]Miami Blockchain Event by FinTechEXPO also offers sponsorship and exhibit opportunities.

▸ Session Title & Detailed Description
▸ Speaker Bio
▸ Speaker Photo
▸ Speaker Twitter Handle
▸ Company URL

Financial enterprises in New York City, London, Singapore, and other world financial capitals are embracing a new generation of smart, automated FinTech that eliminates many cumbersome, slow, and expensive intermediate processes from their businesses.

FinTech brings efficiency as well as the ability to deliver new services and a much improved customer experience throughout the global financial services industry. FinTech is a natural fit with cloud computing, as new services are quickly developed, deployed, and scaled on public, private, and hybrid clouds.

Register Here (Early Bird / Group Registration SAVE $200)

Download Slide Deck ▸ Here

Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settlement products to hedge funds and investment banks. After, he co-founded a revenue cycle management company where he learned about Bitcoin and eventually Ethereal. (more...)

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Download Slide Deck: ▸ Here

René Bostic is the Technical VP of the IBM Cloud Unit in North America. Enjoying her career with IBM during the modern millennial technological era, she is an expert in cloud computing, DevOps and emerging cloud technologies such as Blockchain. Her strengths and core competencies include a proven record of accomplishments in consensus building at all levels to assess, plan, and implement enterprise and cloud computing solutions. (more...)

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Blockchain - A Bridge for the Masses

In a environment where increased digitalization is driving new business models, creating more efficiencies in existing ones and cost-savings across sectors, blockchain is finally becoming mainstream. To fully reach its potential though we must embrace even more security and scalable infrastructure solutions to allow blockchain access be as easy as opening up a website - with the security it needs 24/7 and without fear of latency. (more...)

Blockchain and Decentralization: Securing IoT

Product connectivity goes hand and hand these days with increased use of personal data. New IoT devices are becoming more personalized than ever before. (more...)

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Nicolas Fierro is CEO of MIMIR Blockchain Solutions. He is a programmer, technologist, and operations dev who has worked with Ethereum and blockchain since 2014. His knowledge in blockchain dates to when he performed dev ops services to the Ethereum Foundation as one the privileged few developers to work with the original core team in Switzerland. (more...)

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Why Is the Healthcare Industry Abuzz About Blockchain?

Blockchain. A day doesn't seem to go by without seeing articles and discussions about the technology. According to PwC executive Seamus Cushley, approximately $1.4B has been invested in blockchain just last year. In Gartner's recent hype cycle for emerging technologies, blockchain is approaching the peak. It is considered by Gartner as one of the ‘Key platform-enabling technologies to track.' While there is a lot of ‘hype vs reality' discussions going on, there is no arguing that blockchain is being taken very seriously across industries and cannot be ignored. (more...)

Cryptocurrencies, Bitcoin, and Nanocrime

James Carlini - Bitcoins are a digital cryptocurrency and have been around since 2009. As a substitute for legal tender, they are becoming a rage for investors and others but because there is no government agency auditing or performing regulatory oversights, you wonder if it is the perfect breeding ground for electronic nanocrime?

Since the introduction of the Bitcoin, some competitors have emerged and the whole segment of cryptocurrencies are defined as Altcoins. Altcoins include: Dogecoin, Ethereum, Feathercoin, Litecoin, Monero, Novacoin, Peercoin, and Zetacoin. Some of these cryptocurrencies are considered improvements on the original Bitcoin algorithm structure, and they are gaining some traction as well.

Some financial experts and analysts, including Warren Buffett and Ben Stein, are leery of the overall cryptocurrency market. Is it because it doesn't fit into their more traditional due diligence framework when reviewing investments? Or, is it something that they realize needs a whole new set of analytic and regulatory tools that are currently not available? (more...)

Blockchain Is Changing the Retail Industry

Nate Vickery - Blockchain offers impeccable security with its cryptography-based decentralized system as well as the plethora of possible uses retailers could exploit in the near future.

In a world of increasing cyberattacks, internet fraud and online hacking, blockchain comes as a breath of fresh air. With its encrypted data and decentralized network system, it's a thorn in every hacker's side. Generally being associated with the finance sector, blockchain is now taking retail by storm. It's on a course that will change the retail industry as we know it. But how exactly is it going to achieve such a feat?

First of all, what is blockchain? Well, blockchain is a digital ledger which stores its data in the form of interlinked blocks. Each block contains a timestamp of its transaction along with the transaction data. The links between the blocks are secured by using encryption, which prevents data modification of any kind. And once the data is in, it cannot be deleted, unless every previous block (to the one being modified) is deleted along with it. Moreover, it uses a decentralized network system for distributing its data, which means it cannot be remotely accessed, or hacked, from any central point. In short, blockchain is perfect transaction tool. (more...)

Bitcoin Growth and Blockchain Disruption

Simon Dixon - BnkToTheFuture.com is the largest online investment platform for investing in FinTech, Bitcoin and Blockchain companies. We believe the future of finance looks very different from the past and we aim to invest and provide trading opportunities for qualifying investors that want to build a portfolio in the sector in compliance with international financial regulations. We are here to support the growth and disruption being built around Bitcoin and Blockchain as it takes more and more market share from traditional finance and banks. The next phase of our business is to take our traditional equity investments and put them on the Blockchain for added transparency and liquidity in compliance with international securities law.  (more...)

Chatbots and Artificial Intelligence – the FinTech Trends to Watch

Valeriia Timokhina - FinTech is a lucrative, yet quite saturated market. In order to stay competitive, businesses should keep track of the emerging trends and be able to capitalize on them before their competitors do.

Artificial Intelligence is currently among the most promising FinTech trends. Leading financial brands such as Capital One, MasterCard, as well as hundreds of startups have set the pace for the adoption of virtual financial advisors. If you want to stay ahead of your competition or simply explore the opportunities for AI in fintech, this article is for you.

Here is a brief overview of the existing AI-powered personal finance apps as well as some useful tips on how to develop one. (more...)

Privacy and Security on Blockchains

Rostylav Demush - Decentralization of everything, the great new idea of which the web can’t stop babbling, might still seem a bit utopian if you inspect it closely.

Yes, blockchains are likely to reshape our economy, or a huge part of it, and benefit considerably those who are currently unbanked.

They might also facilitate the creation of rating/reputation systems that are not controlled by any single entity and thus allow people (say Uber drivers who’d like to work for Lyft) to switch employers without having to establish their credibility anew.

They might give users complete control over their assets; protect them, to a degree, from being robbed and provide tools to sustain privacy even when a state-level actor – a bank or a government – is after their identity.

But before these things start to happen the issues of privacy and security, which are currently pressing on blockchains, must be dealt with. (more...)

Blockchain Business Innovation

Kevin Jackson - Is There More Than Bitcoin to Blockchain? Absolutely, because today's blockchain is opening up a pathtowards the delivery of trusted online services.

To understand this statement, you need to see blockchain as more that it's more famous bitcoin use case. As a fundamental digital tool, blockchain is a shared, immutable ledger for recording the history of transactions. If used in this fashion, it can enable transactional applications that can have embedded trust, accountability and transparency attributes. Instead of having a Bitcoin blockchain that is reliant on the exchange of cryptocurrencies with anonymous users on a public network, a Business blockchain can provide a permissioned network with known and verified identities. With this kind of transactional visibility, all activities within that network are observable and auditable by every network user. This end-to-end visibility, also known as shared ledgering, can also be linked to business rules and business logic that can drive and enforce trust, openness and integrity across that business network.  Application built, managed and supported through such an environment can now hold a verifiable pedigree with security built right in that can. (more...)

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DXWorldEXPO LLC is a Lighthouse Point, Florida-based trade show company and the creator of DXWorldEXPODigital Transformation Conference & Expo. The company produces and presents CloudEXPO, DevOpsSummitFinTechEXPO Blockchain Event, the world's most influential conferences and trade shows.

More Stories By Ed Featherston

Ed Featherston is VP, Principal Architect at Cloud Technology Partners. He brings 35 years of technology experience in designing, building, and implementing large complex solutions. He has significant expertise in systems integration, Internet/intranet, and cloud technologies. He has delivered projects in various industries, including financial services, pharmacy, government and retail.

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