Posts Tagged ‘minimum viable ecosystem’
Blockchain for Airlines and Aircraft Leasing | LinkedIn
The aircraft leasing industry is one of the fastest- growing industries globally. A number of factors have resulted in this growth, including but not limited to, a year- on-year increase in passenger traffic, the rise of low-cost carriers (LCC) and the growth of the APAC market.
Given the nature of this capital-intensive industry, it is interesting to note some of the antiquated systems and practices, which are still commonplace. For example, the maintenance of an aircraft is a process that uses cumbersome databases at best and, at worst, a paper- based system prone to losses and errors throughout.
With the rapid rise of digital technologies in other industries, it seems only a matter of time until the aircraft leasing game is affected. To that end, this article will explore the potential benefits of adopting Blockchain technology in the aircraft leasing industry and assess a number of potential use cases, which have a truly disruptive potential for all stakeholders involved.
Source: Blockchain for Airlines and Aircraft Leasing | LinkedIn, Hans Casteels, IBM | September 4, 2018
Photo by Mircea Iancu from Pexels
Read MoreGlobal Blockchain in Business Survey 2018: PwC
What is the state of blockchain today? In PwC’s 2018 survey of 600 executives from 15 territories, 84% say their organisations have at least some involvement with blockchain technology. Companies have dabbled in the lab; perhaps they’ve built proofs of concept. Everyone is talking about blockchain, and no one wants to be left behind.
Four key strategies can help them build trust and stay on a path toward successful execution.
Source: Global Blockchain in Business Survey 2018: PwC
Read MoreWhat Blockchain Can’t Do
As the ecosystem around blockchain technology develops, new types of intermediaries will emerge that turn the last-mile problem, of keeping digital records in sync with their offline counterparts, into actual business opportunities. While the technology is early stage, as these key complements mature, blockchain has the potential to fundamentally reshape ownership over digital data, and the digital platforms we use every day.
Source: What Blockchain Can’t Do, Catherine Tucker & Christian Catalini, June 28, 2018
Read MoreDeloitte Blockchain Boss Departs To Build Ethereum Supply Chain
there are a number of entirely new business models that could be tapped by moving the supply chain to a shared, distributed, immutable ledger.For example, Coble described future supply chain products that flipped the current system on its head by letting parts suppliers publicly broadcast real-time details about unused goods that could be used in any number of products.Coble described her vision for this type of functionality in the future:It provides an environment, a marketplace, for trading partners across the supply chain to be in one place. It allows for this new buy and sell functionality that has never been put together.
Source: Deloitte Blockchain Boss Departs To Build Ethereum Supply Chain,
Read MoreBlockchain-Based Marine Insurance Is Live
Over the first year of its use in a commercial environment, the group expects Insurwave to execute over half a million automated blockchain transactions for more than 1,000 vessels. EY also plans to extend the application to other types of business insurance, including global logistics, aviation and energy.
Source: Blockchain-Based Marine Insurance Is Live, Sead Fadilpašić, May 25, 2018
Read MoreWal-Mart and IBM want to harness blockchain to improve food safety | The New Food Economy
The Walmart-IBM software may facilitate digitization, certificate management, and interoperability. But while these things can improve traceability and transparency, the human element of the food supply chain is far more resistant to control and far less predictable. If the ultimate success of the blockchain relies on self-governance, we may be a long way from it being a food traceability backbone we can truly rely on.
Source: Wal-Mart and IBM want to harness blockchain to improve food safety | The New Food Economy, Jessica McKenzie, February 4th, 2018
Read More3 Innovative Ways Blockchain Will Build Trust In The Food Industry | Forbes
For example, let’s say dozens of customers fall ill with listeria after eating at a restaurant chain. The restaurant tests the food and discovers raw vegetables are the culprit. Using a blockchain track-and-trace solution, the restaurant will be able to track the serial number associated with the vegetable shipment back to the distributor and then to their original supplier. If they find the vegetables are contaminated, that supplier will immediately be flagged on the blockchain, and anyone who has sourced or bought the vegetables will be made aware of the danger.
Source: 3 Innovative Ways Blockchain Will Build Trust In The Food Industry | Forbes, Samantha Radocchia, April 26, 2018
Read MoreCould blockchain be the food chain’s answer to romaine lettuce E. coli and other outbreaks? | Retail | Dallas News
The whole system gets blamed when something spoils or is contaminated with salmonella or E. coli, or a distribution center fails to store product at the right temperature.“
We need to shift this from fault-finding to fact-finding,” Yiannas said. “If no one is eating romaine, the entire system loses.”
Source: Could blockchain be the food chain’s answer to romaine lettuce E. coli and other outbreaks? | Retail | Dallas News, Maria Halkias, June 21, 1018
Read MoreFollowing a Tuna from Fiji to Brooklyn—on the Blockchain | WIRED
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
Read MoreGolden State Foods: Ensuring food quality with fresh thinking in blockchain, AI and IoT – YouTube
Read MoreBridget van Kralingen, Senior Vice President, Global Industries, Platforms and Blockchain for IBM and Bob Wolpert, Corporate Senior Vice President and President, Logistics for Golden State Foods, explore the immutability of blockchain for supply chain.