Blockchain Enterprise implementations and Use cases
Blockchain is a buzz word in the market since last 5 years.I feel very fortunate to get involved in this beautiful technology when it was getting evolved for enterprises. I am a Blockchain Developer and also a Consultant working for companies like Deloitte, Dell, Cognizant, Mercedes ,Redington Gulf and couple of more companies in the Fortune 500 club. Companies consult me for Proof of Concepts and training their executives for Development ,Deployment and Functionality discussion depending upon the requirements.
Blockchain is a technology which is responsible for Tracking and Traceability . But what is kind of Traceability or Tracking do we plan to solve or what is the solution we want to come up with ?
With this article I will tell you how to come up with an Enterprise use case in the field of Blockchain. The formula I use to explain this is “ATOMIC”.
A-:Assets Tracking
T:Trust-less Protocol
O: Ownership Tracking
M:Money
I :Identity Tracking
C:Smart Contracts
Best ways to learn the implementations of Blockchain is to see the case studies of different sectors in which Blockchain is already been used:
Lets take use cases one by one :
A:Assets Tracking and Ownership Tracking
For this I would like to take an example of Everledger (https://www.everledger.io/) which is a Diamond Tracking solution implemented by IBM (IBM) .Imagine a situation in which you are buying a Diamond from a merchant , you have finalized the design, but when you go to the merchant he tells you that it will take 3 more days to prepare the diamond,when you go after 3 days he says it will take 2 more days .So why is this Delay happening ?, its because he is just another middle-men who had given contract to a 3rd party vendor and charging commission for the final diamond prepared. Everledger allows you to trace the diamond from preparation to delivery stage by stage by sitting at your home (Like you monitor your Amazon delivery packages).Kindly go through this video of Everledger.
This satisfies A-asset tracking,T:Trust-less protocol, O-Ownership tracking of Diamond, M-money .
T:Trustless Protocol
The world is moving towards Decentralization , which is based upon web 3.0 ,Web 1.0 was based upon static websites creation, Web 2.0 was about social networking and interactive webapps like Facebook ,Instagram and Linkedin. Now we are moving towards making these platforms Decentralized(not being controlled by a Central authority) Web 3.0.
Recruiters active on platforms like Linkedin often face the problem of fake credentials or recommendations being uploaded by individuals on Linkedin and later wasting everybody’s time at the time of offer .We have the Web 3.0 version of Linkedin which takes care of this , this Webapp is Springrole.com . You can import your details from Linkedin and all the credentials you upload will be Digitally Signed by the Human Resource Incharge and Previous managers ,buddies of your company who used to work with you and only once its signed by them it will be considered as a Valid uploaded credential.You can go through this video for the same:
M-Money
Bitcoin is very popular since 2010, its due to the decentralized money transfer in between two participants without the need of any middlemen like any banks or any trusted third party.We have many more cryptocurrencies like Ether, Ripples(XRP) etc.
I-Identity Tracking
In a country like India, to prove my identity I have too many cards available, like Adhar cards, PAN cards, Election card ,Ration card and many more. What if I say there is a single QR code or a Number or Hash ID which can identify people uniquely with itself, and also link it to the place where all the cards are linked to one another and stored at a single place.
Imagine that if you are going for a trip out to Europe, you need to have passport, tickets ,immigration documents etc .What if I say that a single QR code links everything together and when you go to Europe just scanning of the QR code is good enough for your identity to be established while travelling in Trains of Europe or visiting different destinations or staying in different hotels.For deeper understanding of this just go through this video.
C-Smart Contracts
Imagine that you go to board a Flight and you dont reach the airport 45 mins prior to the departure ? Do the Airlines folks allow you to board ? Do they even co-operate with you for any 2–3 mins of being late ? No they dont. But what if your flight is Delayed? Do you claim your refunds ? No you dont, because you dont have to go through the Hassle of proving them wrong. What if I say that we make a Digital Contract in between you and Airlines about the policies being followed and also have a transparent policy if flight delayed by more than 40 mins , customer account should automatically be credit with 30 % refund and further more policies added into a detailed contract.So this is implemented by Etherisc which is making Insurance Decentralized.You can go through this video for the same.
I have delivered a talk for Ahmedadbad Management Association about introduction of Blockchain and its applications , you can go through this in the below youtube link.
For any further Queries or anything related to Blockchain or Devops you can DM me on Linkedin.
