Posts Tagged ‘decentralized business network’

Gopinath says he sees two major hurdles to bringing blockchain technology to supply chains—and neither of them have to do with the tech itself. The first is simply convincing everyone in the supply chain, which can involve dozens of companies, that switching to a new system is a good idea. “You’ve got to make sure that everybody in the ecosystem gets something out of it,” says Gopinath. “That is very hard and it takes a long time to figure out.”

The second problem is governance. Because blockchains aren’t centralized, it’s difficult to decide how they should be managed. “Who can use the data? Who can see the data? Who can do analytics on the data? Can they share the data? All of these questions have to be answered to the satisfaction of the ecosystem,” says Gopinath. It’s likely going to take years to solve these issues and to square them with government regulators. If someone says that they can be solved in six months, “I’ll just laugh at them, because it’s not going to happen. You can just tell them, sorry, I’m just not going to believe you,” says Gopinath.

Source: Following a Tuna from Fiji to Brooklyn—on the Blockchain | WIRED, Louise Matsakis, May 22, 1018

What is required to move those forward, he said, is a decentralized business network.

“You really have to have common standards and common ways for cars to communicate, to identify themselves and make payments,” Ballinger told CoinDesk, adding:

“But if each auto company is trying to develop its own car wallets or its own way of paying tolls, or providing a ride sharing service, it just doesn’t work; it’s the Tower of Babel.”

Dan Harple, the CEO of Context Labs, who is working closely with Ballinger, said the new consortium’s first step will be to establish a “minimum viable ecosystem” for gaining network effect.

Source: BMW, Ford, GM: World’s Largest Automakers Form Blockchain Coalition – CoinDesk, Ian Allison, May 4, 2018