What Is Blockchain?

“… blockchain is an incorruptible digital ledger of economic

transactions that can be

programmed to record not just

financial transactions ckchain Revolution

The Way Business is Done

Lack of real-time information visibility within a trading ecosystem

Typical Drivers for exchange across enterprise Error-prone information

Blockchain at the boundaries

Enterprise Delays due to offline

reconciliations

Lack of trust in peer-to-peer

B2B transactions

High risk & cost of fraud in cross-company transactions

Key Features of Blockchain

Tamper-proof, Decentralized non-refutable records

• All parties maintain encrypted records of transactions • Altering would require overriding the entire distributed network

• Data stored across network rather than centrally • Better security and availability: No centralized point of

vulnerability

Interoperable through standards

• Hyperledger Fabric: industry-standard foundation for developing blockchain applications and solutions

• Developed by the Linux Foundation and industry leaders across verticals

Example: Typical International Supply Chain

• Lack of transparency: retailer must rely on wholesaler for sourcing and authenticity information

• Slower processes: delays or problems in one part of supply chain may not be communicated, resulting in delays being amplified through the supply chain

• Increased costs: Due to errors, delays, and miscommunication

Different Types of Blockchains

		Enterprise-Focused → Increased Ownership & Control →
		← Increased Anonymity of Participants / Validators
		Public	Federated Caretaker consortium	Private
Approval to Connect ↑ Trust in Participants / Validators ↓ Anyone can Connect	Permissioned	Example: Controlled by a Ministry of Health for patient record management and exchange	Example: Controlled by a consortium of banks for interbank payments	Example: Controlled by a Ministry of Health for patient record management and exchange
	Permissionless	Example: Most Crypto currencies, Prediction markets, Authenticity tracking of goods	Example: Controlled by several companies for consumers to exchange their loyalty points