6 Questions to Ask When Considering Blockchain Solutions for Enterprise

The potential of the distributed ledger technology (DLT) — an umbrella term of which blockchain is the most popular kind — is enormous. Businesses can use blockchain to secure data, handle supply management, fight copyfraud, automate processes, and so on.

Blockchain may have a major impact on businesses thanks to its unique capabilities to enable transactions and operations without a single authority and unnecessary intermediaries. Many companies are successfully integrating the DLT.

2017 and 2018 were the years of blockchain business trials, as many traditional companies were testing it for various business processes. Today, this technology is already an indispensable part of many businesses.

In the present article, we will go through the six most popular and successful use cases. For the sake of diversity, we’ll discuss a use case for every major blockchain platform available out there.

1. Moderna to Use Blockchain for Vaccine Distribution (IBM Blockchain)

IBM Blockchain is one of the most reliable and widely used blockchain platforms aimed at enterprises. It is used in supply chain management, healthcare, banking, media, and other sectors.

At the beginning of March 2021, biotech firm Moderna, whose mRNA-based COVID vaccine has been approved in the US, the UK, and many other countries, said that it would apply DLT and AI in the vaccine distribution.

Blockchain will help the company provide vaccine traceability. This will enable governments and healthcare provides to check the current status of specific batches as they move through the supply chain.

Moderna is already using IBM’s Digital Health Pass, a vaccine and COVID test credentials verification system that also leverages blockchain.

2. ING, BNP Paribas, Citi, Societe Generale, Shell, Others Use Ethereum for Commodities Trading (Ethereum)

While Ethereum is powering most of the Decentralized Finance (DeFi) space and a great number of DLT crypto assets, the network is used by traditional businesses as well. More than two years ago, a consortium comprising banks and other major companies launched komgo SA, a commodity trading platform that relies on Ethereum.
komgo SA is a platform that speeds up the flow of physical commodity operations. It has two main products: one for KYC (know your customer) processes and another one for digital letters of credit.

ING, one of the key members of komgo SA, is also using Ethereum as part of a payment settlement consortium called Fnality.

Ethereum introduced smart contracts and many other features aimed at enterprises. The Enterprise Ethereum Alliance (EEA) now has over 200 member companies, including JP Morgan, Samsung Group, Mastercard, and Microsoft.

3. SIX Stock Exchange Uses DLT Solutions for Stock Trading, Settlement, and Tokenization (R3’s Corda)

SIX Group, which operates the Swiss Stock Exchange, launched SIX Digital Exchange in 2019, which relies on R3’s Corda Enterprise platform. The blockchain solution is used to run its digital asset trading platform, which operates with tokenized shares. With the help of Corda, the digital exchange is clearing, settling, and providing custody solutions simultaneously.
R3 also runs a consortium that includes many banking giants and other companies testing its Corda platform. Besides the SIX Group, it also includes Barclays, BNP Paribas, Deutsche Bank, HSBC, UBS, and Credit Suisse.

4. Walmart Uses Blockchain for Food Supply Chain (Hyperledger Fabric)

Retail giant Walmart has been using DLT solutions for its food supply chain management. For example, it relies on Hyperledger Fabric’s blockchain infrastructure to trace the origin of over 25 food products from five different suppliers. Initially, Walmart tested the system with its partner IBM. During the trial, the retailer traced mangos sold in the US stores and pork sold in its China stores.

Blockchain is very popular in supply chain management, as it helps businesses monitor and trace the products conveniently.

Hyperledger is hosted by Linux Foundation and is one of the oldest open-source blockchain efforts. It manages a consortium comprising over 180 companies.

5. Italian Copyright Collection Agency SIAE Uses NFTs to Manage Authors’ Rights (Algorand)

Some of the most interesting DLT use cases relate to non-fungible tokens (NFTs), which are booming right now. SIAE (Società Italiana degli Autori ed Editori), Italy’s most dominant copyright collecting agency, uses Algorand’s blockchain to create NFTs representing the rights of authors who are members of the organization. In this way, it aims to fight copyfraud and other forms of copyright infringement as well as help authors monetize their work.

SIAE, which was founded more than 130 years ago, has over 95,000 member authors, most of whom are composers, music authors, book authors, and publishers.

In mid-March, SIAE issued more than 4 million NFTs representing the rights of its member authors. The agency picked Algorand as the main blockchain infrastructure for its databases of millions of authors’ rights. While NFTs are surging in popularity thanks to crypto art, SIAE has been collaborating with Algorand since 2019 for the project.

6. Fundraising Platform Republic Uses Blockchain-Based Authorization and Authentication System (AIKON)

Blockchain business applications are still quite sophisticated, as most companies don’t focus on user experience, which hinders the technology’s wider adoption. To solve this, AIKON’s ORE ID is helping businesses developing blockchain applications onboard their existing client base through a familiar process.

Fundraising platform Republic, which helps startups secure capital from institutional and individual investors, is using ORE ID to onboard its non-technical retail investors to its blockchain application that revolves around Republic Note — a proprietary profit-sharing digital security token. On a side note, Republic is building its blockchain application on Algorand, but it uses AIKON’s authentication platform for the onboarding process and identity management.

ORE ID is a blockchain login authentication system that helps users access blockchain applications by email, phone, or social media accounts.

Republic relies on AIKON’s passwordless authentication solution to enable users who are not tech-savvy to access blockchain DApps in one click.

The Final Note

Some notable mentions of major enterprise-oriented blockchain platforms that were not discussed in the article are Ripple, EOS, and JPMorgan’s Quora, which is a version of Ethereum.

In conclusion, blockchain, along with artificial intelligence (AI), the Internet of Things (IoT), augmented reality, and cloud, is spurring the fourth industrial revolution, which revolves around speed, automation, cyber-physical systems, decentralization, and many things with the smart prefix.

Blockchain is about to transform businesses the same way the Internet did. In a few years, the technology will be omnipresent.

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Enterprise Mobility Solutions | Enterprise App Development Services

Mobiweb, as an skilled enterprise application development company offers well-structured solutions to solve the existing problems of the businesses. Our mobility solution strives to place processes, people and technology together powered by wireless networks. We deliver customized mobility solutions to different enterprises. Our team works with 100% transparency that could make your software safe and secure in terms of data.

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Blockchain Certification | Blockchain Training Course | Blockchain Council

In all the market sectors, Blockchain technology has contributed to the redesign. The improvements that were once impossible have been pushed forward. Blockchain is one of the leading innovations with the ability to influence the various sectors of the industry. It also has the ability to be one of the career-influencing innovations at the same time. We have seen an increasing inclination towards the certification of the Blockchain in recent years, and there are obvious reasons behind it. Blockchain has everything to offer, from good packages to its universal application and futuristic development. Let’s address the reasons why one should go for Blockchain certification.

5 advantages of certification by Blockchain:

1. Lucrative packages- Everyone who completes their education or upskills themselves wants to end up with a good bundle, not only is one assured of a good learning experience with Blockchain, but the packages are drool-worthy at the same time. A Blockchain developer’s average salary varies between $150,000 and $175,000 per annum. Comparatively, a software developer gets a $137,000 per year salary. For a Blockchain developer, the San Francisco Bay area provides the highest bundle, amounting to $162,288 per annum. There’s no point arguing that learning about Blockchain is a smart decision with such lucrative packages.

2. Growing industry- When you select any qualification course, it becomes important that you choose a growing segment or industry that promises potential in the future. You should anticipate all of these with Blockchain. The size of the blockchain market is expected to rise from USD 3.0 billion in 2020 to USD 39.7 billion by 2025. This will see an incredible 67.3 percent CAGR between 2020-2025. To help business processes, several businesses are outsourcing Blockchain technologies. This clearly demonstrates that there will be higher demand in the future for Blockchain developers and certified Blockchain professionals.

3. Universal application- One of the major reasons for the success of Blockchain is that it has a global application. It is not sector-specific. Blockchain usage cases are discovered by almost all market segments. In addition, other innovations such as AI, big data, data science and much more are also supported by Blockchain. It becomes easier to get into a suitable industry once you know about Blockchain.

**4. Work protection-**Surely you would like to invest in an ability that ensures job security. You had the same chance for Blockchain. Since this is the technology of the future, understanding that Blockchain can keep up with futuristic developments will help in a successful and safe job.

**5.**After a certain point of your professional life, you are expected to learn about new abilities that can help enhance your skills. Upskilling is paramount. Upskilling oneself has become the need for the hour, and choosing a path that holds a lot of potential for the future is the best way to do this. For all computer geeks and others who want to gain awareness of emerging technology, Blockchain is a good option.

Concluding thoughts- opting for Blockchain certification is a successful career move with all these advantages. You will be able to find yourself in a safe and secured work profile once you have all the knowledge and information. Link for Blockchain certification programme with the Blockchain Council.

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5 Blockchain Applications That Have Transformed the World of Technology

The blockchain is the decentralized database of the blocks of information, which gets recorded in the chain format and linked in a secured crypto graphical manner. This technology ensures proper safety of the data due to its secure nature, and it totally changes how people carry out transactions. It also brings about a faster and secure process of validating information needed to establish reliability.

Though blockchain technology came into the market to carry out only digital transactions, it is now used in various industries like supply chain, finance, health care, and many more.

The blockchain technology has made its position in mobile app development as well. Blockchain applications are transparent and accountable. From getting easy access to medical records and buying insurance, you can see blockchain applications everywhere.

Here are some of the areas where you can see the use of blockchain applications and how they have changed various industries.

1. Ripple

Ripple is useful for increasing banking transactions. The implementation of blockchain technology in the financial sector is much more profound than any other sector. Ripple proves this. It is one of the greatest tools to record and complete financial transactions.

It develops a large network despite strict physical boundaries. As there is no such third-party involvement present, the cost of these transactions is lower than usual. At the same time, the network also remains transparent and quite secured.

It is normally seen that financial transactions that happen globally are

error-prone and take a lot of time. In addition to this, when the transaction

fees and exchange rates get added up, the total cost usually gets high.

However, Ripple offers real-time international transactions without spending too much money. It has the network of about 200+ institutions making the process affordable, secure, and fast for all sorts of international transactions.

2. Etherisc

This blockchain application helps in automating flight insurance. Insurance is another area where blockchain is gaining popularity. Through this application, insurers can make smart contracts rather than getting involved in the traditional contracts that are usually complex. Etherisc is the blockchain application that helps customers buy flight insurance. If the flight gets canceled or delayed, they do not have to wait for months to get the payment back. This application ensures an on-time payout.

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Blockchain Technology Frameworks | Codezeros

Blockchain has changed how enterprises work. An enterprise cannot afford to build a complete end-to-end blockchain solution without the help of frameworks. The frameworks help to simplify the process and also ensure that the enterprise has the freedom to customize the blockchain network they are building for themselves. With Codezeros, you can easily find the best development frameworks that enable web developers to create Blockchain websites efficiently.

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Enterprise Mobility Solutions | Enterprise App Development Services

Mobiweb, as an skilled enterprise application development company offers well-structured solutions to solve the existing problems of the businesses. Our distinctive team of experts is perfectly equipped to design enterprise mobility software that delivers useful information as per the requirement. We deliver customized mobility solutions to different enterprises.

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