Posts Tagged ‘provenance’
What 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 MoreBlockchain in action: 5 interesting examples | The Enterprisers Project
“In deciding whether to use blockchain, it is helpful to think about whether [its] unique characteristics provide business value. For example, if an industry has no system of trusted middlemen – or if existing middlemen are expensive or otherwise add friction – blockchain might be a good fit.”
Source: Blockchain in action: 5 interesting examples | The Enterprisers Project, Kevin Casey, July 02, 2018
Read MoreSimply defining Enterprise Blockchain | LinkedIn
Why does Enterprise Blockchain matter?
Because, today, no business operates in isolation. It should not be a stretch to think that multiple institutions could achieve more together then any single institution can alone. By implementing business processes that leverage the collective knowledge of the group, processes can be orders of magnitude more cost efficient. And even more interesting, new processes can be created that were not possible before which open up new opportunity.
Source: Simply defining Enterprise Blockchain | LinkedIn, Jerry Cuomo, June 30, 2018
Read MoreEY Launches Blockchain Content Rights Platform with Microsoft as Partner | CCN
The solution aims to have a real-time visibility of transactions that will hopefully give market participants an insight into the market and better understand the dynamics that underlie the industry. Apart from this, one of the major issues they solve by utilizing blockchain technology is overcoming operational inefficiencies and eliminate manual reconciliation. This speeds up the overall process and polishes the workflow. This new blockchain based solution helps Microsoft’s affiliates gain insights into the transactions much quicker, as compared to 45 days or more on legacy systems.
According to a report by the US department of commerce, core copyright industries grew by 4.8% year over year during 2012-2015, which stood at a massive $1.2 trillion as of 2015. This reflects the explosive growth in the sector and the potential for blockchain technology-based systems to disrupt the space.
Source: EY Launches Blockchain Content Rights Platform with Microsoft as Partner | CCN, June 24, 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
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