Global Blockchain Platforms Software Market 2020 (COVID – 19 UPDATES) – IBM, Intel, Microsoft …

Blockchain Platforms Software

Latest News 2020: Blockchain Platforms Software Market analysis by COVID19 Impact Analysis With Top Manufacturers Analysis

The Blockchain Platforms Software report showcases the Blockchain Platforms Software market’s comprehensive study and reliable market statistics. The report offers complete information to the clients about the market and its outlook. The report can be considered as a useful source of data that will enhance the decision-making capability in terms of Blockchain Platforms Software market business development. The research study includes inclusive study of all the leading market players in the Blockchain Platforms Software industry such as IBM, Intel, Microsoft, Ethereum, Ripple, Quorum, Hyperledger, R3 Corda, EOS, OpenChain, Stellar, SAP, Amazon, Mastercard. The profiling of these giant industry players include its market share, new product developments, strategic methods, sales, mergers and acquisitions, and much more.

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Moreover, the research data includes the major market segmentations {Private, Public, Consortium}; {E-Commerce, Finance, Medicine, Real Estate}. Any market depends upon these common segmentations such as application, end-use industry, service and solution, component, and majorly on the regional significance. The Blockchain Platforms Software market study is inclusive of all these factors and also comprise of drivers, restraints, opportunities, and market challenges. The research report includes more of graphical representations in order to make the information more clear and crisp.

The qualitative data represented in the report are supported by secondary points. Any kind of analysis within the report is obtained from reliable sources. The market analysis is not only limited to the past and the present trends but also encompasses the future impact. Months of efforts in analyzing the databases and interviewing the market experts has led to the Blockchain Platforms Software market statistics.

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Some TOC Points:

1 Scope of the Report

2 Executive Summary

3 Global Sales Management Tools by Company

4 Sales Management Tools by Regions

…Continued

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dltledgers’ Hyperledger-Based Blockchain Solution Facilitates $12M International Trade

Reading Time: 2minutesbyOgwu Osaemezu EmmanuelonApril 16, 2020&nbspBlockchain

dltledgers, a Singaporean blockchain startup has announced that its Hyperledger Fabric-based blockchain solution has been used by Cargill, a global agribusiness corporation and Agrocorp, a leading integrated agricultural commodity and food solutions provider, to facilitate a $12 million export of wheat from North America to Indonesia, reports Jumpstart on April 16, 2020.

dltledgers Blockchain Reach Significant Milestone

At a time when some critics still doubt the potential of distributed ledger technology (DLT), dltledgers, a Singapore-based blockchain project has proven once again that there’s more to the innovative technology than just powering bitcoin (BTC) and altcoins.

Per sources close to the matter, the dltledgers blockchain solution has successfully facilitated a $12 million commodity trade deal of wheat from North America to Indonesia between Cargill and Agrocorp.

Reportedly, the team leveraged the trustless nature as well as the immutability and transparency properties of blockchain technology to reduce the trade settlement time to just five days.

Other players that also contributed to the deal include Rabobank, a Dutch multinational financial services firm, Transmarine and Amarante.

Commenting on the exciting development, Rabobank’s Singapore and North American facilitators, Mario Cortinhal and Olivier De Jong said:

Consensus-driven smart contracts in this deal minimized our time spent on processing documents by more than half. Riding on the success of his test-case, Rabobank is excited to advance the $10 trillion trade-finance industry.

DLT Revolutionizing Trade Finance, Supply Chain and Logistics

Notably, the dltledgers’ blockchain solution is built upon the open-source Hyperledger Fabric platform and has reportedly helped its 400 global traders, and 45 banking partners to facilitate trade finance transactions worth SG$3 billion.

Brian Behlendorf, executive director of the Hyperledger Consortium noted that the blockchain platform is capable of handling complex transactions that include “multiple unconnected counterparties, represent tens of millions of dollars, and involve the registration of hundreds of different data points into the platform.”

It’s worth noting that adoption of dltledgers’ blockchain solution has been on the increase in recent times.

Last September reports emerged that Abu Dhabi Commercial Bank has integrated dltledgers blockchain solution into its processes and used it to facilitate the movement of $6.5 million worth of goods from Canada to Bangladesh.

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Tesla, BMW Jump on Board Blockchain Bandwagon as Companies Focus on Process Improvement

The financial world, at the moment, was going through one of its worst crisis periods in history. With stocks falling to all-time lows and Bitcoin going against the ‘safe-haven’ concept, 2020 has been nothing short of dramatic.

As the world learns to cope with the coronavirus crisis at hand, some companies were venturing into uncharted territories to create a more sustainable financial ecosystem. Tesla and BMW, two of the biggest names in the automobile industry were the latest entrants to the blockchain technology. The organizations intended to use decentralized technology to improve their native processes.

Elon Musk’s Tesla was recently involved in a blockchain pilot project that sought to improve sea waybill information. This was done so that all the participants in the program who owned large shipping companies could easily transport goods without the logistical hassle. Using blockchain technology, shipping containers filled with Tesla auto parts were able to be released faster with accelerated cargo pick-up.

According to reports, Tesla used CargoSmart which claimed to improve features such as display, appointment date fixtures, and terminal release date fixtures. With this inclusion, shippers will be able to have better visibility and track of all their cargoes. Lionel Louie, the Chief Commercial Officer of CargoSmart stated:

“The GSBN aims to accelerate digital transformation of the shipping industry. It intends to provide a platform for all shipping supply chain participants to work collaboratively to accelerate technology innovation and develop solutions through trusted and secure data exchange platforms.”

CargoSmart uses Hyperledger Fabric to cater to customer needs across the board. Hyperledger was used so that global connectivity could be achieved quickly. Aside from Tesla, BMW was the other automobile honcho wading into blockchain waters. The German carmaker revealed that they will be looking into blockchain to optimize their processes from A to Z.

Andreas Wendt, a member of the BMW AG board of management informed shareholders that their latest blockchain initiative will be called ‘PartChain’. PartChain is set to take care of the digitization aspect of BMW Group’s purchasing wing. The company envisions to create an open platform that will allow data within supply chains to be shared in total security and privacy.

Using PartChain, BMW plans to add an extra layer of secure and verifiable data. As an initial test, BMW used the technology to trace parts such as the front lights with later tests set to cover other sectors as well. BMW has partnered with 10 other companies, to begin with as the Bavarian company reiterated on its mission to change the manufacturing game.

Experts have said that blockchain technology would enable big companies to cater to a larger customer base. New technologies such as smart contracts and blockchain come with benefits such as improved cost savings and traceability. The cryptocurrency community now has to wait with bated breath to see if more companies will follow suit and adopt disruptive technologies such as blockchain.

Tags:BMW

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How Tesla And BMW Are Leading A Supply Chain Renaissance With Blockchain

Tesla Logo

Tesla logo

Getty Images

The list of enterprises that have turned to blockchain in order to improve their supply chain production processes just got bigger, with two very significant names. In the past week, BMW released details about their project called PartChain that utilize blockchain technology in their logistics operations. Another big name, Tesla Inc, was also involved with a blockchain pilot project that provided improved sea waybill information and thus efficiencies for all participants in the project ran by a large shipping consortia. This comes as no surprise as, previously, large enterprises like Walmart and Nestle utilized blockchain as part of their involvement in IBM’s Food Trust provenance project. Interestingly, in all those cases the preferred blockchain protocol was Hyperledger Fabric, which is establishing itself as the dominant protocol for supply chain applications.

The blockchain consortia Global Shipping Business Network (GSBN), which is subject to obtaining the requisite regulatory approvals before its official establishment, consists of the industry-leading ocean carriers operatorslike CMA CGM, COSCO SHIPPING Lines, Evergreen Marine, OOCL and Yang Ming and port terminals like COSCO SHIPPING Ports, Port of Qingdao, PSA International, and Shanghai International Port Group (SIPG) and Hutchison Ports. CargoSmart is using the Hyperledger Fabric blockchain and recently did a pilot project with terminal operator Shanghai International Port Group SIPG and ocean carrier, COSCO. In this specific project, in line with the industry trend of digitalization of the usually very paper-intensive process, the handling of documents was done on a blockchain. Before, the shipping companies and the port needed to check and clear the paperwork separately, but now with the use of blockchain technology they are able to see the same amount of data at the same time and sign it off seamlessly. The containers filled with Tesla auto parts were able to be released faster with accelerated the cargo pick up with the one-stop, zero-latency and zero-touch blockchain advantage using the Hyperledger Fabric protocol. The pilot was technically supported by CargoSmart, a leading shipment management technology solutions provider based out of Hong Kong, which leveraged Hyperledger Fabric in order for the ultimate customer, Tesla, to receive the auto parts faster and cheaper. Recently, CargoSmart further enhanced the application to display laden gate out, appointment date, and terminal release, enabling shippers to have better visibility of their cargoes.

The GSBN aims to accelerate digital transformation of the shipping industry. It intends to provide a platform for all shipping supply chain participants to work collaboratively to accelerate technology innovation and develop solutions through trusted and secure data exchange platforms.

Lionel Louie, Chief Commercial Officer of CargoSmart

Similar to Tesla, the German automaker BMW, the world’s fourteen-largest producer of motor vehicles, looked into blockchain in order to optimize their processes, and are taking it a step further by starting their own blockchain initiative called PartChain.

BMW Blockchain PartChain

BMW Blockchain PartChain

BMW Group

One of the members of the board of management of BMW AG responsible for purchasing and supplier network, Andreas Wendt have explained that PartChain adds in an extra layer of tamper-proof and verifiable collection of data in their supply chain processes. While the first pilot was just to trace front lights, the roadmap is to also include raw materials, and the platform will provide end-to-end transparency and traceability, from the mine to the factory.

This move is designed to take the digitalisation of purchasing at the BMW Group to the next level. Our vision is to create an open platform that will allow data within supply chains to be exchanged and shared safely and anonymised across the industry.

Andreas Wendt, member of the board of management of BMW AG

It’s no shock that large automakers like Tesla and BMW are taking the lead in innovating and improving their supply chain processes. The benefits driven from using blockchain, like improved cost savings, enhanced traceability and increased transparency, are strong drivers for such innovations. In 2018 the specialized consortia Mobility Open Blockchain Initiative (MOBI) was co-founded by BMW Group and 120 other leading automotive, mobility and technology companies. The future is to connect as many counterparties as possible on the same network, and using advanced new technologies like Internet of Things, artificial intelligence, enhanced GPS, 5G wireless and, of course, blockchain are the stepping stones in a new connected future.

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Confidentiality in Smart Contracts

Smart Contracts in Blockchain

Some new smart contract models are ideal for various applications where it is favorable to use the blockchain properties of a decentralized, distributed, and immutable ledger.

This happens to be particularly true where processing data has to remain confidential, even from that blockchain network’s running participants. Confidentiality, by itself, is not enough to make sure that participants can genuinely trust a smart contract of such nature. It needs cryptographic integrity so that participants are certain that the smart contract is what they agreed to make use of, and that no one has tampered with it.

Execution of Blockchain Smart Contracts: A Current and Future Application

Lately, a great number of projects have been making use of Intel Software Guard Extensions TEE Trusted Execution Environments. (Fabric Private Chaincode is a case in point of such a project). TEE is a main processor’s secure area. It guarantees to safeguard data and code inside with respect to integrity and confidentiality. These include the Hyperledger Avalon project. Hyperledger Avalon will allow the execution of off-blockchain smart contracts, and provide other offerings like the IBM Cloud’s data-in-use Protection.

BM and Intel are also working together on the Fabric Private Chaincode (FPC) project. This would allow new and more effective trust models for real-world and practical blockchain applications.

Intel and IBM have shown the privacy-enhanced capabilities that the FPC project brings to a very famous blockchain framework for the company. This framework is the new Hyperledger Fabric. Such capabilities enable Fabric chaincode to work on and maintain encrypted data.

Blockchain: A Great Solution

Decentralization is an important property of smart contracts. Instead of focusing on a single central server, Smart contracts distribute by several network points, so they are decentralizing in their scope.

For storing smart contracts, a blockchain is a perfect space. As a decentralized system, it does not need the presence of intermediaries at the time of signing deals. As a one-time written code, these contracts stay in the distributed registry. They perform their work courtesy to a computer network controlling the blockchain. Hence, no one will be able to modify or tamper with the code.

The utilization of smart contracts has just started to become prevalent. Current limitations of the development of such a deal signing type owing to a few technical elements can soon be gone. This is due to platforms like “ Credits.” The system, when writing and transferring smart contracts in blockchain, makes use of a very effective encryption system and has a Turing Completeness.

For the sake of comparison, a Bitcoin protocol with its limited functionality allows only monetary transactions. It does not provide the possibility to transfer assets or store smart contracts. Needless to say, in this aspect, Bitcoin pales in comparison to blockchain technology!

To conclude, there is no denying that blockchain is a very confidential space for storing smart contracts.

Tags: Blockchain TechnologyConfidentialityBrandi Marcene
Brandi Marcene has a passion for writing for the blockchain and cryptocurrency niche. She has over a decade of experience under her belt as a copywriter. Some of the niches she likes to write about are technology, fashion, real estate, finance, food & beverages, personal hygiene, and health and wellness.

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