Telefónica joins Hyperledger to develop new services with blockchains

Telecommunications corporation Spanish Telefónica joined Hyperledger, of the Linux Foundation, to develop new services targeted to their customers and business models with blockchains. So informed both parties this Thursday 21 November.The alliance formalizes the relationship that began this year and that has in TrustOS the first product to blockchain of Telephone-based Hyperledger Fabric, one of the solutions of Hyperledger to implement this original technology of Bitcoin as the digital system.On this association, José Luis Núñez, responsible for the Competence Center of Blockchain of Telefónica, says that the key word is confidence that blockchains can offer to the industrial sector. At its discretion the implementation of proposals with blockchains, in the field of business, will only be successful if it is done in an open and collaborative manner.”It is a firm commitment to build ecosystems and networks that provide confidence to the operations of the companies (…) to join Hyperledger reinforce the strategy of Telefónica to create business in networks blockchain by adding a layer of trust to the operations of our customers. Open innovation and collaboration between industries is the only way of dealing with blockchain”, shared the executive on Twitter.

Development and innovation

The that Telephone set an agreement with Hyperledger confirms the trend, among large international companies, wanting to adopt networks, blockchains to integrate them into their production processes, but with actors that are already recognized in the ecosystem and do so in a collaborative way.In addition to Telefónica, Hyperledger also announced that it welcomed its community to BlocWatch, BondEvalue, Ledger, Leopard, LimeChain, Tech Mahindra and Vonechain Technology. Other companies who are already working in Hyperledger are IBM, Cisco, American Express, Consensys, Intel, NEC, SAP, Hitachi, and J. P Morgan, among others.It is important to remember that the Phone also features Wayra, a network of acceleration of projects being developed by the program Blockchain Activation. The intention in this case is to foster the creation of solutions with blockchains so that more companies local or international the incorporate, and thus to improve its productive processes, in case you need an application based on this technology. It is here where works TrustOS.In recent statements offered to Breaking News Núñez noted that the company relies on the blockchains due to the fact that “no one has to validate, certify, or audit what is happening on the network, because the network itself will through that new layer of blockchain”.Hyperledger Fabric is not the only enterprise solution of Hyperledger for the use of blockchains, but the most well known. They are also Hyperledger Besu, Burrow, Indy, Iroha and Sawtooth, each with their specific characteristics for use, for example, contracts intelligent, network, test, algorithms, consensus, or interoperability with other strings.Also known as the technology blockchain technology or accounting distributed (DLT) it is a mechanism that allows you to make secure and reliable transactions peer-to-peer, over the internet, without the intervention of a central authority or intermediaries.It is an articulation of various technologies in that it has action mining, digital nodes, digital wallets and ledger in which are grouped the transactions in the form of a block which are linked linearly to each other. In the case of Bitcoin is used in the area of finance with cryptocurrencies, while that in the business cases what is sought is to improve processes, services or products, without the need for the use of cryptocurrencies.

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Hyperledger Labs

The growth in the number of blockchain platforms is booming. That is a good thing. Looking beyond a “one size fits all” platform sparks new possibilities and may lead to platform innovations we have yet to imagine. But the ecosystems developing around platforms must also interact for blockchain to achieve its full potential.

With the future state of interoperability as an end goal, last year Accenture announced that we developed and tested two solutions that allow two or more blockchain enabled ecosystems to integrate. Since then, we developed a new solution specifically created for permissioned blockchains that works without a central connector node. I am happy to announce that we open sourced this new solution as Blockchain Integration Framework, a Hyperledger Lab.

Blockchain Integration Framework defines a communication model that lets permissioned blockchain ecosystems exchange any on-chain data or custom assets, independent of the platform. Specifically, it introduces an “interoperability validator” overlay network for each of the blockchain networks for which you want to exchange assets. Interoperability validators are known or broadly discoverable by the ecosystem and typically participants already taking part in the governance or consensus.

High-Level Workflow

Interoperability validators will collectively handle export requests from local nodes by verifying against their version of the ledger (steps 1 to 3). Each request is answered by a (configurable) minimum quorum of validator signatures (steps 4 and 5). The network can continue working even if some validators are down or not participating, assuming the minimum quorum can be guaranteed. Any secure off-chain communication system can deliver messages certified by a distributed ledger’s transfer validators (step 6). A proof coming from a foreign distributed ledger can be verified against the public keys of the transfer validators of that foreign distributed ledger either locally by the recipient or using on-chain logic – typically smart-contracts (step 7 and 8).

This tutorial demonstrates how to transfer a simple asset between a Hyperledger Fabric and a Quorum network. If you have a favorite DLT network, please consider contributing a connector. We encourage you to have a look at the source code and welcome any contributions no matter the size. Please reach out on the #blockchain-integration-framework chat channel with any questions.

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The Company Already Rolled Out Blockchain-Based Supply Tracking For Over 25 Products

The Company Already Rolled Out Blockchain-Based Supply Tracking For Over 25 Products


Walmart, one of the world’s biggest retailers, entered the blockchain revolution with a global tracking product in cooperation with Hyperledger’s Fabric. Now, Walmart’s Canadian branch is launching the first all-in-one production blockchain solution, with the help of DLT Labs.

Walmart has been looking for ways of utilizing the blockchain technology for years. Thanks to its collaboration with Hyperledger and IBM, the company managed to provide enhanced speed and transparency to its food supply chain. Since implementing the food tracking system, the time to prove the origin of mango fruits dropped from 7 days to just 2.2 seconds.

The Senior Director at Walmart Technology Karl Bedwell, admitted that at first, Walmart VP’s were skeptic about the use of blockchain technology. Still, after conducting two proofs-of-concept (PoC) projects for food traceability, Frank Yiannas gave the team the “green light” to develop such a solution.

Walmart and IBM chose the Hyperledger Fabric because of its modularity and hosting of “chaincode” smart contracts. Тhe PoC projects helped tracing pork in China and mangoes in the US, proving their origin and route. Immediately after the two PoC projects were classified as successful, Walmart expanded its decentralized food tracking system with other food suppliers. The collaboration resulted in the creation of IBM Food Trust, with partners like Nestle and Unilever.

Now, Walmart is diversifying its blockchain solutions apart from food tracking. Walmart’s Canada branch rolled out a new tracking, payments, and transaction verification system, in partnership with DLT Labs. The new system would be integrated into Walmart’s legacy blockchain solution. Walmart Canada’s VP of logistics, John Bayliss, stated that utilizing blockchain made a significant impact on processing vast amounts of inventory data.

“The new system allows faster and more transparent data transfer between Walmart Canada and our carrier partners. The improved efficiency also cuts down expenses and creates a greener supply chain. The lowered ecological footprint proves Walmart’s place in environmental sustainability,” Bayliss added.

While Walmark is taking a proactive stance in adopting blockchain technology into its operations, others claim that blockchain only creates “a false sense of transparency.” Craig Heraghty of PwC stated his skepticism about Walmart’s transparency. He noted that the system might have tamper-proofed data, but the point-of-entry is still simple and easy to use with minimal chance of error occurrence.

BlockchainBlockchain DevelopmentBlockchain Development CompanyBlockchain Applicationsupply chainSupply ChainsBlockchain NewsBlockchain technology

Blockchain Platforms Software Market to Garner Overwhelming Hike in Revenues by 2027 | Key …

Blockchain technology was first utilized for financial transactions but can be applied to a variety of industries such as e-commerce, supply chain management, and data integration. This self-sustaining database can be used by businesses for documenting exchanges and eliminating fraudulent transactions. These software solutions provide the framework to create applications that rely on any kind of transaction.

Blockchain technology is a decentralized solution to tracking, documenting, and facilitating transactions. These tools create a public ledger relying on globally distributed historical transactions to prevent tampering and fraud. Each interaction is documented in a database that relies on each previous, time-stamped transaction to verify and execute an exchange.

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Top Companies of Blockchain Platforms Software Market :

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How Bitcoin And Blockchain Technology Evolved | Avast

Some 20 years ago, the founders of Amazon and Google essentially set the course for how the internet would come to dominate the way we live.

Jeff Bezos of Amazon, and Larry Page and Sergey Brin of Google did more than anyone else to actualize digital commerce as we’re experiencing it today – including its dark underbelly of ever-rising threats to privacy and cybersecurity.

Today we may be standing on the brink of the next great upheaval. Blockchain technology in 2019 may prove to be what the internet was in 1999.

Blockchain, also referred to as distributed ledger technology, or DLT, is much more than just the mechanism behind Bitcoin and cryptocurrency speculation mania. DLT holds the potential to open new horizons of commerce and culture, based on a new paradigm of openness and sharing.

Some believe that this time around there won’t be a handful of tech empresarios grabbing a stranglehold on the richest digital goldmines. Instead, optimists argue, individuals will arise and grab direct control of minute aspects of their digital personas – and companies will be compelled to adapt their business models to a new ethos of sharing for a greater good.

At least that’s a Utopian scenario being widely championed by thought leaders like economist and social theorist Jeremy Rifkin, whose talk, “The Third Industrial Revolution: A Radical New Sharing Economy,”has garnered 3.5 million views on YouTube. And much of the blockchain innovation taking place today is being directed by software prodigies, like Ethereum founder Vitalik Buterin, who value openness and independence above all else.

Public blockchains and private DLTs are in a nascent stage, as stated above, approximately where the internet was in the 1990s. This time around, however, many more complexities are in play – and consensus is forming that blockchain will take us somewhere altogether different from where the internet took us.

“With the Internet, a single company could take a strategic decision and then forge ahead, but that’s not so with DLT,” says Forrester analyst Martha Bennett, whose cautious view of blockchain we’ll hear later. “Blockchains are a team sport. There needs to be major shifts in approach and corporate culture, towards collaboration among competitors, before blockchain-based networks can become the norm.”

That said, here are a few important things everyone should understand about the gelling blockchain revolution.

How public blockchains work

A blockchain is nothing more than a distributed database that functions as a shared ledger between multiple parties. The ledger can be shared among folks with a singular interest, such as Bitcoin holders. Or it can be a ledger for just about any type of information shared between companies or between people and organizations. A live copy of the ledger is distributed to the computers of the participants, and advanced cryptography prevents past ledger entries from being altered.

There’s a big difference between public blockchains like Bitcoin and Ethereum and private DLTs, like those leveraging the open-source Hyperledger framework backed by IBM, Intel, Cisco and dozens of other corporate giants. (More on private blockchains coming up.)

In public blockchains, anyone can participate. The ledger is 100% decentralized, and a completely transparent view of all ledger entries is always accessible to one and all. Public blockchains typically rely on a computational contest, called proof-of-work, to attract participants and to enable the blockchain to function without needing someone to act as the trusted middleman.

Bitcoin mining, for instance, is a contest to solve a difficult cryptographic puzzle in order to earn the right to add the next block of validated ledger entries to the historical chain of ledger blocks. The winning miner gets a token — one Bitcoin. All of the other miners, by competing against one another, serve to validate the ledger, thus eliminating the need for a trusted middleman.

It’s difficult to pinpoint the number of true public blockchains, but there are now a few dozen prominent ones that issue tokens. Thus, peripheral services have cropped up to support trading and speculation of blockchain tokens, aka cryptocurrencies, and the attendant speculation roller coaster gets a lot of attention.

However, cryptocurrencies are only one small part of blockchain technology.

The disruptive component of public blockchains is not what many folks think. It’s not just about issuing digital currency.

Supplanting middlemen

The disruptive component of public blockchains is not what many folks think. It’s not just about issuing digital currency. The real power of blockchain lies in its potential to decentralize many other types of ledger keeping.

Sometime in the next 10 to 20 years, blockchains could begin to profoundly supplant all types of middlemen who now control the flow of finances, the movement of goods and services, and the distribution of digital content. This includes eliminating the roles of business leaders the likes of Facebook CEO Mark Zuckerberg and Twitter CEO Jack Dorsey, whose companies control the flow of social discourse.

Social commentators like Rifkin and technologist Andreas Antonopoulos have garnered global followings talking about how blockchain can empower people to control and monetize many aspects of their digital lives. For instance, I attended a provocative talk Antonopoulos gave on this topic in Seattle titled “Escaping the Global Banking Cartel.”

Efforts are underway to develop and someday widely deploy public blockchains that could decentralize how legal documents are issued; distribute and keep track of digital IDs for impoverished people; and divide and distribute fragmented payments to participants in supply chains. Brainstorming has even commenced for making distributed ledgers the basis of fraud-proof blockchain voting systems.

What makes private DLTs tick

By contrast, private blockchains are essentially the product of the corporate sector recognizing something big is going on and reflexively scrambling for a foothold, so as not to be left behind. Private DLTs don’t have any need for a proof-of-work mechanism. This is because a single corporate entity, or a group of entities, retains full control of validating new blocks of entries and adding them to the standing ledger. You have to be invited to participate in a private blockchain, and the view of the ledger is restricted to permissioned users. Of course, everyone in a private blockchain must agree to abide by a set of rules established and enforced by the governing corporate entity or entities.

The big attraction for corporations to implement private blockchains is that the ledger data gets distributed across many machines, boosting the efficiency and flexibility of transactions in a way that is very accurate, and very difficult to maliciously alter. However, after an initial burst of exuberance, enterprises today are no longer racing after blockchain systems just to be able to say that they’re doing something innovative, Forrester’s Bennett told me.

Fewer projects are getting launched by the corporate world, and the initiatives that are getting greenlighted tend to focus on mapping the cultural and technical obstacles that lay ahead and setting technical ground rules everyone can agree on. This queuing is most notably taking place within Hyperledger, a consortium hosted by the Linux Foundation whose founding members happen to be 30 corporate giants in banking, supply chains, manufacturing, finance, IoT, and technology, led by IBM and Intel.

Since private blockchains don’t use any type of proof-of-work mechanism – the very thing that makes public blockchains next to impossible to alter – traditional cybersecurity concerns apply.

Since private blockchains don’t use any type of proof-of-work mechanism – the very thing that makes public blockchains next to impossible to alter – traditional cybersecurity concerns apply. With no miners vying to win tokens and validating the accuracy of historical records, a trusted middleman is needed. And that trusted middleman remains the same as always: a vulnerable corporate entity. In fact, with so many more interfaces swirling through a blockchain system, it becomes even more important for enterprises to adhere to very strict cyber hygiene practices, and everything, security-wise, must go right for them. How often does that happen today?

“Those involved in the most advanced privacy DLT initiatives have discovered that operationalizing and scaling this technology is a major challenge,” Bennett says. “Some of these challenges will disappear over time as tooling improves, but others won’t, such as making the system and all its interfaces secure.”

Open source collaboration kicks in

This is the reason for Hyperledger, which is not a blockchain, per se, and cannot issue any type of cryptocurrency of its own. IBM and Intel would like nothing better than for Hyperledger to arise as the go-to framework for both public and private blockchains, standardizing, as much as possible, around reliable open-source components. Again, think back 20 years. This is exactly how Linux evolved from a hobbyists’ operating system to a commercially viable OS widely used in enterprise networks.

I ran this by Avesta Hojjati, head of research and development at DigiCert, a Lehi, Colo.-based supplier of digital certificates who’s an active participant in Hyperledger. “You can think of Hyperledger Fabric as a car chassis that’s been welded, painted and maybe has wheels on it,” Hojjati told me. “You still need to add an engine and a number of different things to make it fully functional. But you’re able to work with something that’s very easy to maintain and deploy.”

Launched in 2016, Hyperledger has begun incubating projects such as Hyperledger Ursa, which is intended to be a go-to, shared cryptographic library. “In the past, utilizing such technology would have required subject matter expertise,” Hojjati says, “whereas today, any developer can utilize the Ursa library and implement projects based on these capabilities.”

Capturing public-private synergies

New tools under the Hyperledger umbrella could be used to tilt us into an age of much more democratized global commerce. Or they could turn out to be the tools that help today’s corporate captains remain in power.

I’ve come to believe that it’s probably going to be something in between. Public and private distributed ledgers have already begun to converge. A ton of innovation is under way. Difficult tradeoffs must be made and pivotal architectural advances must be achieved. Enterprises will remain at the table because improved productivity and greater profits are possible. But is it conceivable that the hybrid blockchains of the near future could also blow up the existing digital gold mines and democratize who gets access to the gold dust?

Forrester’s Bennett has observed and analyzed emerging tech for 30 years, the past five looking at distributed ledgers. I asked her what role she thought blockchains will play 10 years from now. Her answer:

“The only thing we can say for certain is that it’ll look nothing like what we’ve got today. I’m not anti-blockchain, I’m just aiming to be realistic. While the technology won’t deliver miracles, it does provide us with the opportunity to do things differently – radically differently – from today. In other words, blockchains can support new business and trust models – but we need to design them first. And while some compromises will no doubt be necessary, the technology issues are more likely to be solved more quickly than all of the non-technical aspects.”

When you put it that way, it’s difficult for me to visualize the complete extinction of today’s top middlemen. But maybe they’ll get shoved down a few notches by a new breed of middlemen.

The blockchain revolution has commenced, folks. There’s no turning back. It very well could take us to improved privacy and cybersecurity. Going forward, one thing is certain: It won’t be dull. I’ll keep watch.

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FiO brings AI and big data to the Block 3.0 party

HONG KONG, Oct. 15, 2019 /PRNewswire/ — Blockchain technology’s incoming third wave promises to radically alter the digital economy by incorporating Artificial Intelligence and big data. One of the companies leading the way is FiO, an innovative new “middleware” ecosystem that has partnered with IBM and is set to help businesses take advantage of the latest blockchain technology.

Following Blockchain 1.0 (digital assets) and 2.0 (smart contracts), the approaching Blockchain 3.0 era promises to create compliant independent financial markets and economies that will force businesses to join in order to stay competitive.

Yet, constantly evolving technology and exorbitant research and development (R&D) costs make blockchain technology still prohibitively unaffordable for small-to-medium enterprises (SMEs). FiO aims to decrease the barriers to entry and help SMEs integrate blockchain and big data-driven targeted marketing into their businesses. FiO is in its final stages of development and will be completed by the end of October; furthermore, FiO will be online by the end of 2019.

Blockchain-as-a-Service (BaaS)

Blockchain technology is decentralized, incorruptible, and immutable by design in order to facilitate secure data storage.

FiO, an official IBM Hyperledger partner, builds on this with a seamless plug-and-play solution that uses a simple API protocol to effortlessly integrate with companies’ existing software.

FiO’s MCC (multi-cross-chain) solution acts as a flexible layer that allows clients to keep their data on either a private or public chain (or both), while its tokenization service foils traditional provenance fraud and theft by transforming ownership certificates into immutable blockchain records.

AI-enhanced Targeted Marketing

Additionally, FiO clients can also easily collect anonymized, GDPR-compliant user data. FiO uses IBM Hyperledger Indy’s Decentralized Identification (DID) to enhance blockchain big data with cutting-edge AI applications.

FiO’s tech-driven targeted marketing platform will create a sharing economy set to mutually benefit both businesses and their customers. The concept is simple participants are incentivized to provide data, yet retain full control over their privacy. By compensating users who share data via a subscription-based model, it allows businesses to optimize their targeted marketing strategy.

In addition to partnerships with IBM and leading R&D partners, FiO also has the financial backing of Forbes Asia and Infinity Leadway, an Israel-based venture capital fund. FiO is currently rapidly expanding in Asia, with offices in Taiwan, Hong Kong, mainlandChina, Japan, and Singapore.

To learn more, visit fio.one.

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Unique Blockchain Course Focuses on Management Tactics

Bitcoin first captured popular interest in blockchained cryptocurrencies, but Lee McKnight, associate professor at the iSchool, envisioned more far-reaching distributed ledger technology applications. He understood that students could benefit most from that widened perspective, too.

Lee McKnight

Lee McKnight

As a verified ledger of all transactions, the technology could create trusted, secure, and virtually impenetrable records, making it perhaps the most significant innovation since the dawn of the Internet, he recalls thinking.

“Malware and social engineering make it too easy to crash into a system that is not architected properly. We already know we can’t trust 50% of the devices out there and we can’t trust many applications. Some fraction of solving these complex issues is using blockchain for verification of trust,” he explains. “Going to a cloud operating model where blockchain is one of the back-office solutions used for trust automation won’t be the only thing, but it will be one of those key tools that makes sense for many new applications.”

McKnight began teaching Blockchain Management at the iSchool in 2017 as experimental pedagogy, even though blockchain platforms were still extremely unstable and decent textbooks were unavailable, he says. He improvised by teaching core technology concepts, conducting hands-on labs in Ethereum and Hyperledger, and guiding students to ideate new blockchained business applications for presentation at a Shark Tank-style final class session with high-level industry guest judges. One first-year student startup, Joshua Jackson’s “Promptous,” presented to angel investors after the course ended then partnered with IBM to leverage Hyperledger to simplify dental benefits.

While many universities now teach blockchain courses, most still heavily focus on cryptocurrencies. Uniquely, the iSchool’s courses always centered on managing blockchains for enterprise applications. The courses were ready to be regularized and entered into the curriculum for undergraduate and graduate students by the end of 2018, “making these the first-in-the-world blockchain management courses taught at any university anywhere,” McKnight adds. He and IBM Business Executive Phil Evangelista now teach the graduate and undergraduate courses, respectively.

Arthur Thomas, associate dean for academic affairs, notes that with the support of its Board of Advisors and corporate and community partners, the iSchool consistently offers students opportunities to quickly tool new learning experiences that involve direct, hands-on application of prototype concepts well before they become commonplace. “Courses in the areas of Blockchain Management, Cloud Architecture and Management, Leading Issues in Information Security, Financial Systems Architecture, Network Virtualization, Digital Forensics and others keep our students ahead of the curve,” he says.

Meanwhile, news of McKnight’s ideas on how blockchain could remedy unstable and insecure Internet and IoT connectivity ‘cloud to edge’ soon spread. He spent much of 2018 presenting around the world, at MIT, Boston, and Fordham Universities, the University of Alaska, at the U.S. Congress, UN-IGF 2018 at UNESCO in Paris, and VMware in Palo Alto, as well as the First Liberian Inter-Agency Task Force and Advisory Group Meeting, the Alliance for Science and Technology Research in America, and Smart Cities Connect Conferences.

McKnight continues his research for the “the Open Specifications Model v0.5 for Blockchaining IoT,” designed to create authenticity in Internet and Internet of Things applications by closing the gap between the usefulness of IoT and its insecurity by making data and devices safer and less easily manipulated. Several volumes of his research are on tap to be published by 2020.

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IBM Blockchain Platform Optimized to be Deployed on Red Hat OpenShift

IBM announced the latest version of its Blockchain Platform software on September 24, 2019. The new version is optimized to be deployed on the Red Hat OpenShift, the Container Application Platform by Red Hat which is developed on Kubernetes and Docker. In the announcement, IBM said that this would further enhance developers’ ability to create blockchain networks anywhere.

Per the announcement, the company’s Blockchain Platform features the most comprehensive blockchain software, tools, sample codes, and services available, allowing the network participants to develop, operate, grow and govern blockchain networks. Moreover, the collaboration will offer more flexibility in selecting where to deploy the blockchain networks components, be it in public clouds, a hybrid cloud architecture or on-premises.

Throwing more lights, the company said that the latest offering along with Red Hat OpenShift, would deliver simplicity, reliability, as well as flexibility. Not only it will be possible to containerize peers, ordering services, smart contracts, and certificate authorities, but deploying them within preferred environments will be easier as well.

The amalgamation of OpenShift and IBM Blockchain Platform will offer mission-critical availability and performance in each phase of the blockchain development, production, and deployment, as stated in the announcement post. The new version is a perfect choice for entities that:

  • Wish to run workloads and maintain a ledger copy on their very own infrastructure for risk mitigation, compliance, or security reasons
  • Require data storage in particular locations in order to fulfill data residency needs
  • Require deployment of blockchain components in numerous hybrid cloud or cloud architectures for meeting consortium requirements

In addition to that, the Platform’s advanced tooling delivers additional value around Hyperledger Fabric, an open-source by The Linux Foundation. The artifacts generated by the Platform have 100% compatibility with the Hyperledger Fabric, providing total freedom on the network. It also facilitates interoperability with vendors offering services, solutions, and products based on the Hyperledger Fabric.

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IBM Announces Latest Version of Blockchain Platform Software; Optimized to Deploy on Red Hat …

This integration means that users can now have even more flexibility when choosing where to deploy blockchain network components, whether on-premises, in public clouds, or in hybrid cloud architectures.

IBM recently announced its latest version of IBM Blockchain Platform software, and it is optimized to deploy on Red Hat OpenShift, Red Hat’s state-of-the-art enterprise Kubernetes platform.

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With this, users can now have higher flexibility when choosing where to deploy blockchain network components, whether on-premises, in public clouds or hybrid cloud architectures. Out of the box, the software includes the tools to build, operate, govern, and grow blockchain networks.

The IBM Blockchain Platform together with Red Hat OpenShift, delivers:

Simplicity

Highlighting the complete blockchain software, services, tools, and sample codes available, IBM Blockchain Platform gives everything for the network participants required to build, operate, grow, and govern the blockchain network.

Flexibility

With IBM Blockchain Platform and Red Hat OpenShift, users can containerize smart contracts, peers, certificate authorities and ordering services and efficiently deploy them within the preferred environments.

Reliability

The combination of IBM Blockchain Platform and Red Hat OpenShift offers high performance and availability in every stage of blockchain development, deployment, and production.

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Through hundreds of customer engagements, IBM sees a variety of network models with individual requirements. The IBM Blockchain Platform and Red Hat OpenShift are perfect for organizations who:

-Want to keep a copy of the ledger and run workloads on their infrastructure for security, risk mitigation or compliance reasons.

-Need to store data in specific locations to meet data residency requirements.

-Need to deploy blockchain components in multiple clouds or hybrid cloud architectures to meet consortium needs.

Also, the enhanced tooling of the IBM Blockchain Platform gives

More value around The Linux Foundation’s open-source Hyperledger Fabric. The platform produces artifacts that are 100 percent compatible with the Hyperledger Fabric, providing users the complete choice of action over the network. This lets users interoperate with other vendors that produce Hyperledger Fabric-based products, services, and solutions.

Jerry Cuomo, IBM Fellow, Vice President Blockchain Technologies, quoted, “IBM BlockchainWith the combined power of IBM Blockchain Platform and Red Hat OpenShift, it’s never been easier to ignite transformation in your enterprise and across your business network.”

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Wazabi Debuts As Cannabis Blockchain

DMG Blockchain expects Wazabi to solve key issues in the global cannabis supply chain, which include a lack of trust & transparency across the ecosystem, fragmented non-interoperable technologies, lack of timely market insight, and regulatory compliance validation.

How Does Wazabi Work?

Wazabi is based on Hyperledger Fabric, an enterprise-grade distributed ledger framework emphasizing transparency and immutability through a permission blockchain. Hyperledger Fabric is hosted by the Linux Foundation.

Furthermore, Hyperledger Fabric is open source and does not require a mining consensus to complete transactions. This allows the framework to be implemented without necessitating a large pool of processing power.

What Does It Bring to Enterprises?

Wazabi provides an irrefutable single source of truth in terms of all data. The cannabis industry currently utilizes various seed to sale, ERP, logistics, shipping, warehousing and point of sale systems, none of which can talk to each other without significant custom development work which becomes arduous and costly to maintain.

When a product changes custody along the supply chain, Wazabi tracks the transfer and ensures that government regulators, seed to sale systems, and POS systems can view where each batch of cannabis is located and how it got there. In other words, this data is then stored on an immutable and transparent distributed ledger.

DMG’s CEO Dan Reitzik commented “…Parties provide information with their digital signature so you know the information is from the respective parties. In a supply chain with two or more parties this becomes extremely effective in providing transparency. Similarly, it also fosters trust while also reducing system integration costs…This modern platform is built to allow for easy integration into other modern platforms. It also facilitates and accelerates global cross border shipping and resale of edibles through the supply chain of large retailers.”

Conclusion

DMG Blockchain plans to monetize the platform through charging producers a few cents per gram for Wazabi certification. In addition, there are commissions earned on products sold wholesale through their marketplaces. Likewise, other cognitive platforms, Wazabi’s success depends on the adoption of its product by producers, retailers, and government entities.

Tags: cannabis supply chainHyperledger FabricWazabiPeter Buffo
Peter Buffo is a tech and culture journalist who has worked forvarious publications since 2016. He currently attends LoyolaUniversity New Orleans on a full ride scholarship. Previous ArticleMoscow’s Blockchain Voting Results

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