IBM, Samsung partner to advance blockchain development

Mackenzie GarrityMonday, May 20th, 2019 | Email

IBM has partnered with Samsung SDS to strengthen an existing blockchain-based hyperledger while also improving other blockchain ecosystems.

The Linux Foundation’s Hyperledger Fabric is an open source, cross-industry blockchain that is designed as a foundation for others to develop applications or modular-architecture solutions.

IBM will leverage Samsung’s Accelerator, a blockchain module, to improve transaction speed on the hyperledger. Slow transactions per second is one barrier companies have when implementing blockchain for core business functions.

The two companies also plan to share their research for other companies to analyze. IBM and Samsung most recently published a white paper to highlight to design features of Accelerator and discuss use cases for applying increased transaction speeds on blockchain networks.

To read more, click here.

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Exchange blockchain-based data with Hyperledger Aries

Welcome, Hyperledger Aries, a new infrastructure for blockchain interactions, currently under incubation.

Announced on May 14, 2019, the newest addition to Hyperledger is a “shared infrastructure of tools that enables the exchange of blockchain-based data, supports peer-to-peer messaging in various scenarios, and facilitates interoperable interaction between different blockchains and other distributed technologies (DLTs)”. This marks the 13th project from Hyperledger.

Peer-to-peer interaction

When it comes to adopting the blockchain, ‘identity’ marks of the most discussed aspects and use cases. Hyperledger Aries intends to keep peer-to-peer interaction safe and secure, with a verifiable exchange of information, thus protecting identity.

How does it aim to achieve this?

From the project page, Aries includes:

  • A blockchain interface layer (known as a resolver) for creating and signing blockchain transactions.
  • A cryptographic wallet for secure storage (the secure storage tech, not a UI) of cryptographic secrets and other information used to build blockchain clients.
  • An encrypted messaging system for off-ledger interactions between clients using multiple transport protocols.An implementation of ZKP-capable W3C verifiable credentials using the ZKP primitives found in Ursa.
  • An implementation of the Decentralized Key Management System (DKMS) specification currently being incubated in Hyperledger Indy.
  • A mechanism to build higher-level protocols and API-like use cases based on the secure messaging functionality described earlier.

SEE ALSO: Aion4j: two new tools for building smart contracts with Java

Since this project is related to Hyperledger Indy and Ursa, it uses features of both projects. Therefore, it includes cryptographic support from Ursa.

Project goals

Hyperledger states that “the ultimate goal of Hyperledger Aries is to provide a dynamic set of capabilities to store and exchange data related to blockchain-based identity. These capabilities will range from the secured, secret storage of data such as private key, up to the capability of globally accessible data that can be viewed and accessed by anyone.”

Future plans for Aries include providing features and functionality outside of the Indy ledger. Fully supported Decentralized Key Management Standards are currently in the works thanks to the Sovrin Community’s efforts.

According to Hyperledger, the team also hopes to have a searchable storage layer that can store other associated data needed for identity maintenance. This could potentially include sensitive personal information or photos.

SEE ALSO: Hyperledger Iroha v1.0 arrives with fully operational multisignature

Identity is commonly cited as one of the most promising use-cases for distributed ledger technology. #HyperledgerAries is a new shared, reusable, interoperable tool kit focused on creating, transmitting and storing verifiable digital credentials.https://t.co/5geohMBx5opic.twitter.com/5xYDgbhIFg

— Hyperledger (@Hyperledger) May 14, 2019

Find the code on GitHub. Furthermore, have a look and read more about it on the wiki.

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Hyperledger — Open Source Blockchain Technologies

It is not true that blockchain is being used only in cryptocurrencies. Yes, this technology was first implemented there; however, now the range of its application has dramatically expanded.

Particularly in doing business, practical use of blockchain can minimize costs and time to solve many problems associated with the integration and automation of processes.

Having examined the company’s business processes, you can identify dozens of cases using blockchain and implementing them in software products. Here are just some examples:

  • Data security – the blockchain allows you to create a document storage system in which all changes to the data will be saved.

  • Execution of obligations under transactions and transfer of ownership – the technology of the distributive register gives you a chance to manage a framework that monitors the progress of the contract conditions, and close it after making a payment or transferring property. This is the so-called smart contract.

  • Confirmation of decisions – you can create set up the system in such a way, so that decision-makers need to confirm the launch of specific processes. At the same time, you can make sure whether everything you need is available for launch and, if something is missing, do not put a signature.

Hyperledger is that kind of technology which was created to boost the implementation of blockchain on the new level.

Hyperledger: What does it stand for?

To begin with, Hyperledger is a comprehensive concept, however, it is none of the following statements:

  • Business (a company)

  • Digital Asset (cryptocurrency)

  • Blockchain

Hyperledger is something like a center point for the open improvement of industry blockchains.

In general, it is a joint open source project created to develop and promote new technologies to a mass user through the implementation of the functions necessary for an open, inter-branch standard of distributed registries. The platform includes people from the whole world, and the company itself is an international project which deals with the leading companies in the following spheres: economic, finance, IoT (Internet of Things), logistics field and manufacturing.

Hyperledger logo

Screenshot by U.today

Hyperledger neither supports nor promotes Bitcoin (BTC), Ethereum (ETH) or any other coins or token, but the platform operates with the blockchain technology as a whole vast ecosystem. The founders of Hyperledger repeatedly emphasized that their project is not an ICO, and they do not have any intentions to release their own cryptocurrency. It is a technological platform for the implementation of blockchain and intelligent contracts known as smart contracts in the business. Hyperledger participants develop projects specifically as information technology.

At the core of all projects is a modular structure, which allows you to add or remove the necessary modules depending on the users’ queries.

History of the project and its team

The announcement of the creation of the Hyperledger project occurred at the end of 2015, while the final version of the board and the team of founders were presented in March 2016. At the moment, the governing board comprises of twenty one individuals led by Blythe Masters.

A committee of leaders is the executive branch of Hyperledger, which includes more than 10 members, most of whom have gained vital skills while working in several industries. Moreover, there are also professionals from technological companies, such as IBM and many other IT giants. Members of Hyperledger are professionals in their field, for instance, Richard Brown and Tamas Blumer have lots of skills in blockchain while assisting companies in introducing new technology in their businesses. For these participants, Hyperledger provides not only technical background and software of blockchain structures but also various contacts with prominent figures in the industry.

Currently, Hyperledger members are a large number of reputable companies from around the world, many of which occupy leading positions in their respective industries. These are technological

giants like Airbus and Daimler; IT clusters including Intel, IBM; mobile phone developers, such as Huawei and Samsung; financial and economic enterprises in the ranks of American Express; and one of the largest banking institutions, J.P. Morgan Chase.

Hyperledger targets and goals

The founders and leaders of the project are sure that the Internet in general, and blockchain in particular, are those breakthroughs that can significantly reshape our future and the way we live now.

Blockchain opens up tremendous opportunities for creating transparent, protected from falsification, business processes, legal documents, and financial transactions.

According to the developers and analysts of Hyperledger, the markets have long needed tools that can make it easier and cheaper to exchange data, conduct financial transactions, registration processes and other integral components of management and business. The blockchain, based on open source and decentralization, can satisfy this request for transparency, credibility, and durability.

Hyperledger areas of implementation

Screenshot by U.today

Overall, the final aim of the Linux Foundation project is to coordinate the activities of stakeholders, software developers and companies belonging to various industries on one platform, as well as to promote the development of inter-sectoral cooperation:

To put it briefly, the Linux Foundation project is about the coordination of stakeholders, software developers and companies belonging to various industries on the same platform, and also promotion inter-sectoral collaboration.

Officially, the goals and objectives of Hyperledger are as follows:

  • The creation of a database on the basis of the distributive technology to support transactions made by business entities.

  • Providing neutral and transparent infrastructure to satisfy community needs run by technical and experienced management staff.

  • The creation of a professional community who are eager to improve blockchain and the distributed databases.

  • Educational work on blockchain technology market opportunities.

  • Promotion of community ideas and compatibility of tools with other platforms.

Features of Hyperledger technology

Now, let’s take understand what preferences the platform offers:

  • Hyperledger allows you to create a private rather than a public blockchain.

  • No need for mining and issue of tokens. Inspecting nodes independently notify each other about the operations, reach consensus and create new blocks.

  • Flexible configuration of access rights to the network, the ability to create private systems for getting access blocks – outsiders will not be able to get data from them.

  • Confidential transactions are available for viewing only to selected users who have the necessary encryption keys.

  • Large selection of available programming languages: C ++, JavaScript, Python, Golang, Java.

Hyperledger can be used to create a general-purpose blockchain while competing solutions are designed for specific tasks:

  • Ripple – the organization of payment systems.

  • R3 CEV – traditional transactions and agreements.

  • Ethereum – the creation of a virtual machine for smart contracts usage.

Hyperledger Frameworks

Hyperledger frameworks

Screenshot by U.today

All projects are based on a modular structure that allows you to add or remove necessary modules depending on user requests.

Hyperledger Sawtooth

Sawtooth technology is an innovative modular platform for making, utilizing and running distributed registries. The focus is on flexible use in various business areas. The platform supports custom data models for taking snapshots of the current state of the log, transaction languages ​​for changing the state of the registry, and consensus methods for confirming transactions.

Sawtooth uses a new concept called transaction families. Sawtooth users can create their own specialized “family of transactions” with unique data models and transaction languages. To facilitate initial use, Sawtooth offers three built-in transaction families that implement the most common usage scenarios and provide a registry ready with a fully functioning marketplace for digital assets.

Hyperledger Sawtooth peculiarities

  • The implementation and usage of smart contracts to automate business procedures and vote on changing the configuration of the blockchain (for example, to add new members and smart contracts).

  • Advanced transaction execution engine, which provides parallel processing of transactions to speed up the formation of blocks and their verification.

  • Support for integration with the tools of the Ethereum platform and the ability to run third party smart contracts.

  • The ability to update or replace the consensus building protocol as the distributed network grows. For example, you can switch to more scalable consensus calculation algorithms as they appear.

  • The possibility to create and smart contracts using a variety of methods (programming languages), including Go, JavaScript, and Python.

Hyperledger Iroha

The project was mainly developed by Japanese firms, particularly Hitachi and Soramitsu, as they contributed a lot to its creation. The final goal of the platform is to develop other Hyperledger frameworks, such as IBM Fabric and Intel Sawtooth Lake.

Using Iroha, business corporations can create and manage regular digital currencies, such as different coins or tokens, or complex assets – certificates, patents, and other documents confirming intellectual property rights.

Typical examples of using Irohi include the following operations: the platform allows you to create documents proving the identity and authenticity of diplomas issued to individuals by universities and institutes.

Furthermore, on the Iroha ecosystem, various digital avatars (graphical portrayal of the client or its character) of real assets can be created with low transaction commission or even without any fee.

For example, the owner of an old car can create a digital asset and then register the ownership of it with several account signatures. Once another party is interested in this offer, it accepts the proposal, completes the transaction through the currency transfer to the current owner and receives ownership of the car.

One more area where Iroha functions can be used is identity management for Know Your Customer (KYC) requirements, which are already obligatory in many projects. Clients do not need to submit documents as it usually happens in most projects. Instead of this, they can create the necessary identification in the chain of nodes to which the various qualifying institutions who follow the KYC procedure can apply.

Iroha provides fast service, as well as a comprehensive combination of code libraries for IT specialists to create reliable application development, protected monitoring, management of assets, and modular design architecture to boost the blockchain ecosystem to a new level.

Iroha is different from other widely used blockchain-based projects such as the world’s top cryptocurrency Bitcoin and its rivals Ethereum or Ripple since the last ones operate as diskless registers that allow you to join and provide access to any network platform.

Hyperledger Burrow

Intel and Monx developed Hyperledger Burrow five years ago, in 2014, the main idea of which was to release a project for the needs of commercial companies, so that they could join the benefits of smart contracts.

Barrow is a code based on the Ethereum platform, which provides a first-of-its-kind client blockchain module with an interpreter of smart contracts.

The Chief Executive Officer at Monax, Casey Kuhlman, believes that thanks to the Burrow project, companies will get a chance to create apps with a wide range of functions and potential services which are not easy to incorporate into platforms that are not related to smart contracts.

What is crucial is that Burrow is expanding the list of its strategic partners, and one of the most vital allies is the Ethereum team of developers, including specialists from the Enterprise Ethereum Alliance (EEA).

Hyperledger Indy

Hyperledger Indy is a distributed registry used for decentralized identification. It is an accumulation of instruments, libraries, and reusable components for establishing and implementing independent decentralized digital identifiers that are compatible with various administrative domains, applications, etc.

 Hyperledger Indi logo

Screenshot by U.today

The Evernym team startup blockchain-identity launched the project in early 2018 against the background of the unceasing scandal associated with the leakage of Facebook user data. The Hyperledger Indy code, like the other projects of the consortium, is made publicly available on GitHub.

Hyperledger Fabric

Hyperledger Fabric is the best structure for creating programs and specialized business arrangements based on blockchain.

Hyperledger Fabric ecosystem

Screenshot by U.today

Hyperledger Fabric is the basis for decentralized systems, where all clients have identifiers. If you want to implement a decentralized network, one should figure out if your company needs an idea to utilize a chain to comply with data protection rules.

The greater part of Hyperledger Fabric in the financial and human services branches sectors are subject to data protection laws. In addition, the project was launched by the company for organizations, so the entrance is “permitted by ticket”. The network member must acquire a certificate and be identified; however, different participants may be granted different rights, limitations, and benefits.

Ethereum or Hyperledger Fabric: What to choose?

To get better acquainted with the features of Hyperledger Fabric, you can compare it with the Ethereum network. The peculiarities of Ethereum are decentralized programs (applications or dApps), smart contracts and a public blockchain. Altogether, they are aimed at meeting the consumer demand, or the so-called B2C marketplace.

Meanwhile, organizations willing to develop blockchain applications with solid help for confidentiality and decentralization are guided by Hyperledger Fabric. It works best for developing chain-prepared blockchain-based programs, the creation of intelligent contracts (smart contracts), supporting security guidelines and consent. Fabric’s modular design offers adaptability and is centered around enterprises that want to streamline their work process using innovation in blockchain.

Fabric ecosystem vs Ethereum

Screenshot by U.today

Hyperledger, in cooperation with its partners, mainly operates with transaction-based applications. Despite this, Ethereum also focuses on corporate clients. As an example, we can look at Quorum, which is made and operated by J. P. Morgan. Quorum is an allowed Ethereum-based product; this is what is called the fork of the Ethereum open blockchain.

The Ethereum Enterprise, which was launched at the beginning of 2017, includes more than 20 companies from the Fortune 500 list, as well as ventures, innovators, technology providers, and Ethereum specialists. Among the most prominent members are IT clusters Intel and Cisco, consulting company Accenture, and automobile giant Toyota.

Hyperledger tools

Hyperledger has a few application projects whose purpose is to make the access to the development of blockchains simpler and more productive.

IT specialists predominantly use tools, while the projects themselves are used regardless of the company’s specialization.

Hyperledger tools

Screenshot by U.today

Caliper

Hyperledger Caliper is planned to test the blockchain, which empowers you to evaluate the execution of a particular system. The Caliper can generate reports containing performance indicators, for example, TPS (transactions per second), transaction latency, asset usage, etc. The purpose of developing this tool is to enable users to evaluate and select a specific project taking into consideration specified parameters.

Hyperledger Caliper was represented by IT specialists from Huawei, Oracle, IBM, and many other influential players in the technological industry. Educational institutions, such as the Hungarian University of Technology and Economics, also played an essential role in the development of Caliper.

Cello

This tool supports a set of networks on top of various infrastructures, such as bare metal and other container platforms.

Hyperledger Cello aims to popularize its system to a user, so customers could join its benefits, such as the reduced effort required to create, manage, and terminate the chain.

Composer

Hyperledger Composer is a kind of hub with an open set of tools for the easy use of the blockchain. With this platform, blockchain technology can be easily integrated into existing business systems.

This is a tool for creating blockchain and smart contracts for business, enabling you to create your own applications over Hyperledger Fabric.

Explorer

Hyperledger Explorer

Screenshot by U.today

Hyperledger Explorer is a tool for researching the blockchain developed by consortium members designed to create user-friendly web applications. Using Explorer, you can view all the information stored on the blockchain: transactions, blocks, as well as any other data stored in the ledger. This tool is in the incubation stage.

Quilt

Hyperledger Quilt provides interoperability between registry systems using the Interledger (ILP) protocol, which allows an unlimited number of transactions between different registries using cryptographic escrow and a specialized two-phase acknowledgment protocol.

The Interledger protocol allows you to connect different blockchains using atomic swaps. This tool is in the incubation stage as well.

Ursa

This is a modular cryptographic library, which is intended to give designers a solitary blockchain security toolbox.

The project ought to prevent a waste of time arising from working on duplicate solutions, as well as increase security by simplifying the analysis and contracting the probability that less experienced clients create in their own risky implementations.

It is likewise accepted that Ursa will give a specialist evaluation of the full cryptographic code and improve cross-stage similarity since the projects will utilize a standard library.

The library is partitioned into 2 small divisions:

  • The first one is about simple, standardized, modular cryptographic algorithms.

  • The second is unusual to a certain extent. Examples of it include, for instance, SNARKs and aggregated signatures.

The Ursa code is written primarily in the Rust language, but the software will operate as well with all languages widely used in Hyperledger.

Z-Mix

It is an affiliate project of Ursa that adds support for specific cryptographic algorithms, such as SNARKs or aggregated signatures.

Implementation experience

Large companies successfully use Hyperledger in their products.

  • The Visa payment system uses Hyperledger Fabric for B2B Connect’s corporate transaction service in order to prevent fraud and speed up transactions.

  • Japanese technology giant Hitachi introduced a method for making payments and activating coupons with a fingerprint based on Hyperledger. A distributed registry verifies such transactions.

  • Oracle uses Hyperledger Fabric distributed registry capabilities for supply chain management.

  • The IBM Watson IoT service provides developers with a toolkit for building IoT applications.

The number of projects for medium and small businesses is growing every day, and this technology finds its practical application in various areas: economics, logistics, medicine, retail, and construction. Evrone has applied Hyperledger’s open-source solution to developing blockchain projects: the trading bot Crypton and Trustlogics.

The bottom line

Blockchain technology is capable of completely changing the work of enterprises if it is used in large quantities and in full.

The Hyperledger platform is indispensable for companies that want to minimize time and money, and make their products and services more attractive, reliable and safe for the end customer.

Of course, we are talking about large corporations operating around the world. But do not forget about small and medium businesses. The Hyperledger blockchain will also be useful for them as a strategy plan for developing the company and making effective decisions.

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IBM Partners with Samsung SDS to Improve Blockchain Transaction Speeds for Businesses

IBM Partners with Samsung SDS to Improve Blockchain Transaction Speeds for BusinessesIBM Partners with Samsung SDS to Improve Blockchain Transaction Speeds for Businesses

The blockchain revolution is well underway, and businesses are now focusing on ways to improve performance by bettering throughput speeds.

To this end, Samsung SDS has partnered IBM to create what is considered to be the best blockchain network for application development. The two institutions are also working to improve Hyperledger Fabric, a blockchain framework developed by the Linux Foundation.

Blockchain technology has gained traction across various industries because of its fast transactions speeds, affordable costs and impenetrable security features.

Despite these benefits, only a small percentage of enterprise-level organizations have adopted this technology. This is the reason why Samsung SDS and IBM are working together to create resources that will influence organizational leaders to join the blockchain revolution.

Hyperledger Fabric is an open-source, cross-platform blockchain framework that provides an environment for developing applications and modular architecture solutions. Samsung SDS will integrate its ‘Accelerator’ code with the aim of increasing the framework’s capabilities, improving transaction speeds and enhancing performance as a whole.

The Benefits of Accelerator

While blockchain technology has several benefits, it also has a fair share of shortcomings. The most prevalent challenge across various blockchain networks is slow transaction speeds. Slow speeds are an inconvenience to the network’s users as well as developers who want to build applications on top of such networks.

Obviously, enterprise blockchain frameworks such as Hyperledger Fabric are way faster public blockchain implementations. Regardless, industry stakeholders believe that the existing performances can be bettered, which is yet another reason for the collaboration between IBM and Samsung SDS.

The primary objective of the Accelerator code is increasing transaction speeds on blockchain platforms. The software works by ordering received transactions by destination, collating those transactions into a new batch and routing the patched transaction to a blockchain network for validation.

So far, tests have proven that the Accelerator can process up to 5,000 transactions per second (TPS). This is equivalent to a 10x performance improvement on the current transaction throughput.

The integration of Accelerator into the Hyperledger Fabric framework allows developers to access extra services, build out new capabilities and handle large volume transaction requests from applications without stressing about slow speeds. Moreover, Accelerator integrates seamlessly into Hyperledger Fabric without the need for any modifications. This means that organizations enjoy higher speeds and improved performances instantly.

Real-life Application of Accelerator

IBM and Samsung SDS recently released a whitepaper that indicates the findings of their joint efforts in blockchain development. The document outlines the key features of Accelerator, the result from integration tests, and recommends its use for increasing transaction speeds on permissioned blockchain networks.

These networks are almost risk-free and highly efficient, making them the closest match to enterprise-level networks. Hyperledger Fabric networks with Accelerator are more suited for business applications because of their faster performances

Furthermore, the whitepaper provides a detailed explanation if industrial blockchain applications, as well as a timeline for existing Hyperledger users to integrate Accelerator. It also lists real-world applications of this solution in the finical services industry and the Internet of Things.

One such example is True Tickets, a digital ticketing platform that generates secure and verifiable tickets for events and events. The platform was used to test the impact of integrating Accelerator into a blockchain based on the Hyperledger Fabric framework.

Matt Zarracina, the CEO and co-founder of True Tickets, said that the Accelerator code can potentially take their blockchain-driven solution to greater heights by allowing them to handle high transaction volumes more efficiently.

Impact on Business Innovation

The majority of blockchain enthusiasts are certain that the technology can potentially disrupt any industry. Their assertions are based on the benefits of blockchain technology, such as eliminating intermediaries, increasing transparency, lowering risks, improving traceability, and increasing efficiency of operations.

The integration of Accelerator into Hyperledger Fabric will only improve the benefits of blockchain technology. With these developments, businesses should expect more efficient blockchains in the near future.

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Budapest Bitcoin Events and Blockchain Meetups for 2019, Rated and Reviewed

Budapest city view.

The most complete list of every blockchain and cryptocurrency meetup in Budapest, with ratings! Our custom Bitcoin Market Journal Score is calculated by the number of members, user rating, and activity level. Use it as a guide for which meetups to attend in 2019.

If you’re looking for global events, check out our list of Best Blockchain Conferences.

If you have a meetup that you’d like listed, or represent one of the events below, contact us to manage your listing.

City Meetup Group Name Description Number of Members User Rating Activity Level Overall BMJ Score
Budapest Fintech [email protected] This meetup refers to itself as the first and the best event series in fintech, in surtech, and financial innovation in Central Europe. It aims to bridge the gap between the global fintech scene and Budapest by inviting the biggest players from the field and the region. The meetup is giving the opportunity to fintech entrepreneurs, bank and insurance innovators, or researchers to introduce their work. Next to that, they want to help attendees to connect the right people in the sector, such as investors, entrepreneurs, and competitors. 1887 5 4 3.7
Budapest Kriptovaluták & blokklánc alkalmazása a mindennapokban Cryptocurrencies have undergone major changes, but now a stabilization process can start as a result of favorable regulation and regulatory decision. What would be a positive step? This meetup group is talking about it. 878 5 2 2.7
Budapest Bitcoin Budapest Bitcoin Budapest Meetup is dedicated to bringing people together from the fields of technology and entrepreneurship to create a regional platform where anyone with an interest in cryptocurrencies can join the conversation. If you are mining, trading, accepting, paying with, building a service around, or simply interested in the virtual currency model of bitcoin, you are more than welcome to join.

Despite the name, this meetup group not focused on bitcoin only; Litecoin, Devcoin, Namecoin, *coin enthusiasts are all welcome! The meetups will focus on demos, discussions, debates, networking, and collaboration.

729 5 2 2.7
Budapest Budapesti CryptoValuta Oktatás és Előadás Planned content for lectures include: Present and Future of CryptoValues, Present and Future of Blockchain Technology, How Safely Is BlockChain Technology Built?, and What Can BlockChain Technology Do? Presentations for beginners include: tutorials on how to receive and send BTC and altcoins, how to buy and sell; legal regulation of cryptotranslations; and tax issues. Other topics include: contents of the AltCoin upcoming course, coin exchanges and their business potential, mining and business opportunities, how to recognize scams based on the popularity of bitcoin and coins in general. The content of the presentations may expand and change! 398 4 1 2
Budapest Hyperledger Budapest Hyperledger is an open source collaborative effort created to advance cross-industry blockchain technologies. It is a global collaboration, hosted by The Linux Foundation, including leaders in finance, banking, Internet of Things, supply chains, manufacturing, and technology.

Hyperledger Meetup groups have an informal relationship with Hyperledger, and make up a key part of the Hyperledger ecosystem. Participation in a Hyperledger Meetup group is open to anyone–employees of a Hyperledger member company, Hyperledger contributors and developers, and people just passionate about blockchain technology.

325 N/A 3 2
Budapest Blockchain Stories If you’re interested in the biggest invention of the decade, blockchain, this meetup group is for you. They will have discussions about cryptocurrencies and data science opportunities of blockchain. They will also cover the social media network, built on blockchain, and its data science aspects. Blockchain Stories is dedicated to making the ‘crypto-stuff’ accessible to anyone. 664 4 2 2.3
Budapest Budapest Blockchain Meetup Hang out with people who want to talk about bitcoin and blockchain! Learn from the various speakers they host about topics and projects in the crypto space. Additionally, the MeetUp members are some of the leading experts in cryptocurrencies so there’s a lot of knowledge to tap into here! 369 4 2 2.3
Budapest Open Blockchain – Workshop Series This is a technologically driven, blockchain enthusiast community in Budapest. They organize free workshops monthly, where they code, have fun, and learn! The workshops usually start with theoretical sessions and guest presentations, followed by facultative coding sessions for developers. No one is left behind! There will always be a short recap on what was done last time, making sure that the “first-timers” can get up to speed! 201 N/A 4 2.5
Budapest Budapest Blockchain Developers Meetup What to expect? The lectures approach the technical side of the blockchain. Learn how it works with Ethereum, Hyperledger, NEO, Bitcoin, focus on APIs provided by platforms, consensus protocols, and software development for them. There will be algorithms, demos, code, and headaches. 288 4 2 2.3

Keep up-to-date with everything happening in the blockchain space by subscribing to the Bitcoin Market Journal newsletter.

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Oracle Blockchain Chief: Stacking Technologies Is The Real Key To Adoption

Blockchain technology is continuing to make inroads into the business world, with established tech giants joining startups in seeking new applications for the distributed ledger. However, there several other ingredients are needed before this technological cocktail really starts to fizz.

That’s the message from Anant Kadiayala, senior director of blockchain and IoT at Oracle. In his role, Kadiyala oversees the software giant’s efforts to provide enterprise-ready solutions, such as the Oracle’s Blockchain Platform or the Intelligent Track and Trace application, which are based on Hyperledger Fabric.

Some of these efforts are already paying dividends. “We have a few customers in production,” Kadiyala told Crypto Briefing during the Consensus conference.

One example is Circulor, which is focused on tracking the elements and minerals which are used to produce electronics, such as cobalt and lithium. “They’re tracking the provenance and making sure that the sourcing is from legally sourced mines,” Kadiyala explained. “There are UNICEF reports out there that these mines are rife with child labor and other illegal practices.”

Other clients on the Oracle roster include the World Bee Project, which uses a combination of IoT and DLT technology to track the provenance of honey production; Certified Origins, which tracks the provenance of organic olive oil, and Everledger, which tracks luxury items, gemstones, and high-tech electronics.

Supply-chain problems represent an ideal use-case for blockchain technology, since they require the coordination of multiple parties at every step of the process. “Up until now companies have been putting enormous amounts of manual effort, semiautomated effort, to manage the complex supply chains,” Kadiyala said.

He added:

“Just imagine your lettuce coming from farms in Guatemala to here, and we eat it in a salad without even thinking twice. It takes an enormous amount of care and handling all the way across to get here in a safe way. Up until now it was hard to track and trace, but companies have been doing their best effort. So now we have new technologies like blockchain, when you couple that with IOT and machine learning now we have much better tools to be able to solve these historically challenging problems.”


The other parts of the puzzle.

But there are still obstacles to be crossed before blockchain tech is as ubiquitous as smartphones. One of the major obstacles is the technical complexity of ledger technology, which remains intimidating even to skilled developers.

“As you can imagine, standing up a blockchain network is not for the faint heart. It’s a fairly complicated undertaking,” Kadiyala said. “Developers need to know a lot of different concepts to get it up and running to production successfully.”

Oracle is seeking to streamline those complexities by reducing some of the pain points for developers and businesses. “We’ve done a lot of innovations beyond what Hyperledger Fabric offers out of the box, predominantly in the areas of developer experience,” Kadiyala explained. “We did a lot of automation and simplification to Hyperledger Fabric, making it easily accessible to developers so they can get to production quickly.”

Another obstacle is the lack of complementing technologies, which also need to develop before blockchain tech can realize its full potential. “With all technologies, each one will involve by themselves and come to a point where all of them have a certain level of maturity,” Kadiyala said. “When they click together, all of them have a certain amount of reverberation from there on.”

For example, smartphones were not the result of any single discovery or invention—multiple threads of innovation had to ripen before mobile technology could become a half-trillion dollar industry.

Likewise, DLTrequires mature Internet-of-Things and machine learning technologies before it can realize its full potential, especially in the world of supply chains. “IOT and machine learning are very closely intertwined,” the director explained. ” As the devices are sensing and streaming data, it’s the machine learning algorithm that is really making sense out of it, giving insight into what we’re going to do with it.”

These three technologies could provide a perfect cocktail for the retail and shipping industries, allowing everyone involved—from the senders and receivers to the insurers and recipients—to have access to all relevant data and to act as soon as it becomes available.

“Then one plus one is not two anymore,” Kadiyala says. “It’s five or six, so the cumulative effect or value derived is much more.”

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Five Blockchain Trends From Consensus 2019: From Amazon To Herding Cats

Five Blockchain Trends From Consensus 2019: From Amazon To Herding CatsFive Blockchain Trends From Consensus 2019: From Amazon To Herding Cats

Consensus 2019 was big, but now that it’s over, and if you didn’t visit, you probably want to know what happened.

These are the five main trends that you can see from the discussions that happened at the event, which lasted three days from May 13 to 15.

Amazon Entering the Crypto World

Amazon is probably our most obvious highlight. The company offers blockchain-as-a-service Amazon Web Services (AWS) recently, so it used the conference to showcase a new offering, a Managed Blockchain Service, which will use the Hyperledger Fabric as a basis.

Another important offering of the company was the Quantum Ledger Database (QLDB), which will be a centralized blockchain that will be used for enterprises that want a distributed ledger without losing control.

The focus of this platform will be on the idea of a immutable system of record. Many companies simply don’t care for tokenization or consensus mechanisms, so they may as well use a streamlined product that will only offer them what they really need.

According to the team, many projects which originally used the blockchain technology will end up using only an immutable centralized ledger as this is the only aspect that interests some companies. Rahul Pathak, the general manager of the program, affirmed that QLDB started as a permissioned ledger but it was developed in a different way after they perceived the need in the market.

About CSDs

Central securities depositories (CSDs) were also another point of interest during the conference. CSDs, in case you do not know, are relative to, how to bank securities. The world is starting to understand that CSDs can be tokenized, so they certainly gained the interest of the crowds.

The financial market will certainly change a lot in the future and players like the London Stock Exchange Group (LSEG) and the Depository Trust & Clearing Corporation (DTCC) were around to discuss the future.

A member from the DTCC affirmed that the company is ready to use blockchain technology while highlighting that it can be used to create a post-trade environment that is more reconciliatory and fragmented. With the current technology, it is possible to automate record-keeping and create a system that will be considerably more efficient than it is now.

Kaleido

Kaleido, a company backed by ConsenSys, was also offering more tools for B2B tech stack and a blockchain cloud to be used for business. The idea was to make trading easier and more integrated with the platforms.

The company already has clients like Kroger, Heineken, Fox, Citi Bank, Sony, Union Bank, ING, Shell, T-Mobile and MUFG, a sizeable portfolio.

According to the CEO of the company, Steve Cerveny, the idea of creating a single and yet integrated B2B stack was perfect for the project and helped to create something very unique.

Security Tokens Versus Tokenized Securities

Another panel discussed the differences and similarities between security tokens and tokenized securities. Michael Coleta, the blockchain architect of the LSEG, affirmed that he wanted to be clear about the regulation.

He affirmed that there was a lot of semantics involved and that people should remember that what actually matters are legal definitions and the technology. It was also discussed how to regulate these kinds of assets since they have characteristics which are fairly common to traditional securities and yet they are not exactly the same.

Ajit Tripathi, which works on ConsenSys, affirmed that securities will be eventually all registered on the blockchain and affirmed that innovation was important for the decentralization of the financial system.

Herding Cats

The final highlight was a panel called Herding Cats, which was created in order to gather several companies together to talk about the industry’s subject of blockchain consortiums.

According to Brian Behlendorf, the executive director of Hyperledger, there are three specific types of consortiums. For instance, there are companies like Hyperledger which are focused purely on technology and others like the Enterprise Ethereum Alliance, which are more standard-type consortiums. Finally, there are very particular ones as we.trade.

They discussed consortiums and got to a conclusion: governance and how to deal with it are questions that really have to be taken into account when creating your own consortium or maintaining one.

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Hyperledger introduces Aries; infrastructure supporting interoperable identity

Hyperledger, the open source collaborative created to advance cross-industry blockchain technologies, this week has introduced Aries – the newest Hyperledger project. Aries is a shared infrastructure of tools that enables the exchange of blockchain-based data, supports peer-to-peer messaging in various scenarios, and facilitates interoperable interaction between different blockchains and other distributed ledger technologies (DLTs).

Hyperledger Aries intends to:

  • Provide code for peer-to-peer interaction, secrets management, verifiable information exchange, and secure messaging for different decentralized systems.
  • Foster practical interoperability in support of ongoing standards and extend the applicability of technologies developed within Indy beyond its current community components from the Hyperledger stack into a single, effective business solution.

It includes:

The ultimate goal of Hyperledger Aries is to provide a dynamic set of capabilities to store and exchange data related to blockchain-based identity. These capabilities will range from the secured, secret storage of data such as private keys, up to the capability of globally accessible data that can be viewed and accessed by anyone. An example of such support is the creation of a secure storage solution similar to the wallet available in Hyperledger Indy today.
  • A blockchain interface layer (known as a resolver) for creating and signing blockchain transactions.
  • A cryptographic wallet for secure storage (the secure storage tech, not a UI) of cryptographic secrets and other information used to build blockchain clients.
  • An encrypted messaging system for off-ledger interactions between clients using multiple transport protocols.
  • An implementation of ZKP-capable W3C verifiable credentials using the ZKP primitives found in Ursa.
  • An implementation of the Decentralized Key Management System (DKMS) specification currently being incubated in Hyperledger Indy.
  • A mechanism to build higher-level protocols and API-like use cases based on the secure messaging functionality described earlier.

The generic interface of Aries will initially support the Hyperledger Indy resolver but is flexible enough so that someone could build a pluggable method using other DID method resolvers such as Hyperledger Fabric, Ethereum, or another DID method resolver they wish. These types of resolvers would support the resolving of transactions and other data on other ledgers.

Additionally, Hyperledger Aries will provide features and functionality outside of the scope of the Indy ledger to be planned and fully supported. The Aries development team has already reached out to other groups, including Ethereum-based decentralized identity efforts and others participating at the W3C to contribute to this code base.

With all of these capabilities, the open source community will now be able to build core message families that are necessary to facilitate interoperable interactions with a wide variety of use cases involving blockchain-based identity.

One of the main purposes of this project is to change the client layers in Hyperledger Indy to be interoperable with other identity projects. Hyperledger Indy has been incubating protocol work for peer interactions between identity owners for some time but as the development community has grown, it has become clear that the scope of that work extends beyond the functionality provided by Indy for support of other systems and networks.

Hyperledger Aries provides a shared, reusable, interoperable tool kit designed for initiatives and solutions focused on creating, transmitting and storing verifiable digital credentials. It is infrastructure for blockchain-rooted, peer-to-peer interactions. It includes a shared cryptographic +++wallet for blockchain clients as well as a communications protocol for allowing off-ledger interaction between those clients.

The Aires project consumes the cryptographic support provided by Hyperledger Ursa, to provide secure secret management and decentralized key management functionality. Hyperledger Aries was initially contributed by developers from Sovrin Foundation, the Government of British Columbia, and other Indy community developers.

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Amazon’s Arrival and 4 Other Enterprise Blockchain Trends From Consensus 2019

The intermingling of public and private ledgers emerged as a key narrative in enterprise blockchain discussions at CoinDesk’s Consensus 2019 conference.

At the three-day event, which wrapped up Wednesday, heavyweight companies and infrastructure providers alike could be seen plotting a spectrum of blockchain strategies. Some were new entrants to the space, others were stalwarts, but these were the five storylines that shaped the enterprise conversation at the industry’s biggest conference.

Amazon’s arrival

So-called “Blockchain-as-a-Service” was front and center this year, with Amazon Web Services (AWS) taking to the stage at Consensus for the first time to talk about its new Managed Blockchain Service, which deploys Hyperledger Fabric with public ethereum soon to be added.

AWS was also there to talk about its Quantum Ledger Database (QLDB), a centrally administered immutable data ledger, which Gartner predicts could eat up a sizeable chunk of the enterprise blockchain space.

This is likely to happen as companies realize they don’t need so much in the way of distributed consensus or tokenization, Gartner said, but really just an immutable system of record. (By 2021, at least 20 percent of projects envisioned to run on permissioned blockchains will instead run on centralized auditable ledgers.)

Rahul Pathak, general manager of AWS Managed Blockchain Services, chose not to speculate on whether Gartner’s claims might be accurate, but he did confirm the rumor that QLDB started life not as an alternative to permissioned chains, but rather as an internally developed tool with Amazon’s vast retail business.

Said Pathak:

“We have a very long and healthy tradition of bringing forward internally developed projects at Amazon.”

The ConsenSys contender

Meanwhile, ConsenSys-backed Kaleido was offering an array of new enterprise blockchain tools with its new B2B tech stack, part of the firm’s Blockchain Business Cloud – delivering pushbutton asset tokenization and trading, easy integration and hybrid deployment for blockchain networks.

Indeed, Kaleido has been busy in the enterprise space, with customers that include T-Mobile, Kroger, Heineken, Sony, Fox, Citi, Shell, ING, MUFG and UnionBank.

“Kaleido has uniquely brought together all of the necessary tools and technologies on our platform in a single, integrated B2B stack,” Kaleido founder and CEO Steve Cerveny said in a statement.

Sticking with ethereum, ConsenSys “Seeker of Awesomeness” John Wolpert told CoinDesk that his team is advancing to use the ethereum mainnet as a kind of decentralized middleware or message bus, allowing companies to interact peer-to-peer but keeping a common frame of reference.

“Side chains are the key thing,” said Wolpert, “but we need to give them another name.”

Joining the conversation, Wayne Vaughan, CEO of Tierion, which is building the world’s first global proof engine, said his company was about to announce that it would be using its Chainpoint application to anchor Hyperledger to the bitcoin blockchain.

Wolpert, who was a founding engineer of Hyperledger Fabric while at IBM, countered: “Now, you’ve got to ask, Why do you need to do that?”

Herding cats

Blockchain is a team sport, as they like to say in the enterprise space. That’s why gathering firms together and building consortia to build and execute the technology has become an art in itself. A panel exploring the state of play was aptly named “Herding Cats.”

Brian Behlendorf, executive director of Hyperledger (a chief DLT cat herder), pointed out it’s useful to break down the topic into three basic types of enterprise blockchain consortia:

“There are pure technology consortiums like Hyperledger. There are standards consortiums like the Enterprise Ethereum Alliance. And then there are consortiums focused on one particular vertical, so something like we.trade would be a good example of that.”

Joining Behlendorf, Susan Joseph of B3i, the reinsurance consortium which includes Allianz, Swiss Re and Zurich, was also categorical about consortia governance.

Said Joseph:

“It’s a people problem.”

CSD update

Central securities depositories or CSDs (think: banking for securities) have probably had more than their fair share of threats about disintermediation, as the world has woken up to the fact that those assets can easily be tokenized and live on blockchains.

Debating an uncertain future for this type of industrial-grade market infrastructure were two of the big players: the London Stock Exchange Group (LSEG) and the Depository Trust & Clearing Corporation (DTCC).

DTCC was early to embrace the power blockchain could bring to the fragmented, reconciliation-heavy, post-trade environment. It has taken on an ambitious project to run the Trade Information Warehouse (TIW) on distributed ledger tech, which will automate recordkeeping, lifecycle events and payment management for approximately $10 trillion of cleared and bilateral credit derivatives.

This undertaking is now being tested by a group of banks and is on track to meet its deadline later this year, Robert Palatnick, managing director and chief technology architect at DTCC, confirmed to CoinDesk.

“There’s a lot of work going on right now, but we are looking good and on course,” he said.

‘Security token or tokenized security?’

Meanwhile, LSEG blockchain architect Michael Coletta said he wanted to clear up some confusion in the space with regard to regulation:

“On the question of security token or tokenized security, I would humbly respond by saying it doesn’t matter and is only semantic. Let’s remember to distinguish the legal and the technological. Security, legal; token, technical. To the extent that regulation endeavors to be technologically neutral, and it does, usually, the token concept is irrelevant when considering the legal.”

Ajit Tripathi of ConsenSys conceded that a recent white paper from DTCC, which stated that security token offering (STO) platforms should have the same characteristics from a regulatory perspective as existing trading systems, “seemed logical” but questioned where the likes of DTCC would be once the infrastructure revolution happens.

Tripathi said:

“Securities will be registered on the blockchain, which is already happening in some jurisdictions. Central bank money will be issued in token form, and then we will have DVP [delivery versus payment]. OK, so that might seem far off, but what are you doing now to not be disintermediated?”

Taking a more sober view of certain types of runaway innovation, Preston Byrne, an attorney at Byrne & Storm, took issue with the concept of “superfluid collateral” during a discussion around decentralized finance, adding:

“I like to have my collateral super encumbered.”

From left: ErisX’s Thomas Chippas, TD Ameritrade’s Steve Quirk and CoinDesk’s Noelle Acheson speak at Consensus 2019, photo by Juan Kim for CoinDesk

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Supply Chain has its Temperature Taken

It emerged recently that Swiss Post had announced a collaboration with a local blockchain startup to monitor temperatures of heat sensitive packets through the supply chain. Temperature control in distribution is highly important, particularly when it comes to fresh and perishable produce and medications. Blockchain and internet of things (IoT) technologies are emerging with a distinct use case in this area.

Timeless Swiss Post Partners with Young Blockchain Startup

Switzerland’s national postal service – Swiss Post – made theannouncement at the beginning of last week. The 170 year old publicly owned utility has partnered with blockchain startup, Modum in tracking the temperature of heat sensitive packages through the postal system.

Modum is a Zurich-based startup which wasestablished in 2016. The company specialise in digital supply chain innovation. With that, it centres on IoT and blockchain technology.

Modum Solution Combines IoT & Blockchain Technologies

Modum has developed an IoT based sensor which is placed within the package. The Swiss startup raised $13 million in an initial coin offering (ICO) in September 2017 and on the back of that, it has developed and tested this digital supply chain product.

Whilst Modum claims to be blockchain agnostic, it haslinks with a number of blockchain technologies. It carried out its ICO on the Ethereum ERC20 platform. It’s understood that IOTA distributed ledger technology (DLT) forms the backbone of its network. However, it also has experience with other blockchain technologies such as Hyperledger Fabric and EOS.

“IOTA distributed ledger technology (DLT) forms the backbone of Modum’s network. However, it also has experience with other blockchain technologies such as Hyperledger Fabric and EOS.”

The sensor – which the company dubs the MODsense T temperature logger – is networked, enabling it to report temperature history in real time, automatically. The sender dispatches the package with the item and sensor placed within the box. Temperature is monitored and recorded throughout the transportation route.

As is the nature of modern supply chain distribution, the packet is scanned at various stages along the journey. At each scanning event, temperature data is sent to the sender without ever needing to open the package. If the temperature parameters are broken at any stage in the journey, a record will exist to demonstrate that. This is important not just for the customer but also in terms of the opportunity for Swiss Post to identify specifically where such problems emerge, allowing it to resolve such issues on future deliveries.

Blockchain comes into play in recording the data. It’s practically impossible to manipulate data recorded to the blockchain. Therefore, stakeholders to the process who are given access to this temperature data on a distributed ledger can have a high degree of confidence in its authenticity.

German multinational software company SAP alsoparticipated in putting the service together. SAP’s cloud platform is accessed as part of the overall solution. In a press release, Pascal Hagedorn, project leader at SAP’s Co-Innovation Lab located in Switzerland, spoke to additional opportunities which may exist for further integration:

“The main advantage of the solution is that selective information can be assessed securely by every party to the supply chain.” . . . “Under our co-innovation project, we are currently working with Modum on how to integrate it into SAP’s business process.”

Broader Use of the Technology in Supply Chain

This latest event is just one example of emerging use of both IoT and blockchain technology in supply chain. Swiss Post are not looking at this technology in isolation. Logistics competitor, DHL are well aware of the capabilities of these technologies when it comes to the distribution of temperature sensitive cargo as thisreport from 2018 indicates.

In terms of temperature sensors and data, there are two key industries which are likely to make use of this specific technology – the pharmaceutical and food industries. In pharma, there is a need to keep a wide range of medical devices and medicines within strict regulatory approved temperature parameters.

“There are two key industries which are likely to make use of this specific technology – the pharmaceutical and food industries.”

The food industry has alreadyembraced this technology when it comes to food traceability. However, it’s use in combination with IoT sensors brings more opportunity. Temperature data can ensure and verify that perishable products are kept at the optimum temperature. This should result in a better outcome for retailers and consumers. If smart contracts are enforced which insist on certain temperature parameters and the data for the complete duration can be relied upon, standards are likely to improve. The quality of product that the consumer receives can only be embellished as a consequence.

About a third of all food produced globally iswasted. Taking apples as a case in point, it has been found that up to 25% of the crop is lost or spoiled within the supply chain alone. A bi-product of the implementation of blockchain and IoT technology in distribution systems is likely to be some level of improvement on these statistics.

From a supply chain perspective, we have seen this technology emerge at a developmental, trial and pilot stage in recent times. However, more recently still, real world usage is becoming a reality. Over the coming months, we’re likely to see the roll out of this use of both blockchain and IoT technologies truly flourish.

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