Category "Blockchain"

Among many college students, blockchain has a branding problem. “I thought it was synonymous with Bitcoin,” says Andrea Christie, a graduate student at RMIT University (formerly known as Royal Melbourne Institute of Technology and Melbourne Technical College). “Like many people, I thought that blockchain was electronic money, and it was a scary concept.”

After studying blockchain for the past year, however, Christie is seeing a much broader horizon for the technology. She’s now focused on studying the application of blockchain technology in the nonprofit sector. It could be used, for example, to track vouchers given to disaster victims to better understand what they’re purchasing, or to track charitable donations to ensure they comply with donor expectations.

While blockchain isn’t a mainstay yet in college curriculums, more universities are offering courses exploring the technology and business and industry use cases. It’s an area of intense focus at RMIT, which has set up a Blockchain Innovation Hub that draws students from the business and technology schools and offers courses in blockchain technology to both groups of students.

“Every new technology that arises goes into a popularity cycle,” says Dr. Arthur Adamopoulos, a lecturer at RMIT. “My goal is to ensure that students come out of my classes knowing how to cut through the hype and that they have realistic expectations of what types of problems blockchain technology can solve.”

Blockchain technology builds a list of unalterable records—called blocks—that link together through cryptography to form an open ledger that can record transactions securely and permanently. The technology allows organizations that might not fully trust each other, or even be aware of each other, to agree on a single, highly secure source of truth.

Adamopoulos uses Oracle Blockchain Platform in his curriculum. He started using it in the spring of 2019, after a colleague connected him with Callan Howell-Pavia, principal cloud solutions consultant for Oracle Australia, who helped Adamopoulos set up blockchain in his classroom and provided him with materials—even updating them for Adamopoulos’ specific needs.

“I wanted Oracle because I wanted a cloud blockchain,” says Adamopoulos. “Although cryptocurrencies run on their own networks, most companies are not really interested in running their own blockchain networks on their own platforms. I think a lot of industry blockchains will be in the cloud.” Students also have the benefit of learning about a blockchain service that offers flexible implementation options, including standalone cloud services and capabilities built into other types of applications, such as supply chain and HR.

According to Franco Ucci, Oracle’s innovation and strategy leader for Australia and New Zealand, blockchain has been a trending topic across industries, but most students still lack an in depth-knowledge of the technology. “A key part of this is collaborating with the industry partners and finding specific use cases,” says Ucci. “Everyone wants to be part of it but they need to be able to see the true potential.”

Key to RMIT’s focus on blockchain is a clear vision into the potential of the technology. Michael Fairbairn, associate director of Business Operations and Engagement at the Blockchain Innovation Hub, believes that blockchain is on a similar path to that of the internet, where it took years for people to understand its capabilities. “The Bitcoin conversation is a dual-edged sword. On the one hand, Bitcoin really proved the technology and viability of blockchain. On the other hand, it was used at times for nefarious activities, such as the dark web, and that put some people off,” says Fairbairn.

Blockchain’s complexity and processing requirements can make it an expensive way to collect and consolidate data. However, once people understand the broad value for blockchain across industries, Ucci says he expects that many organizations will find specific, high-value purposes for the technology. “It’s like a knife that’s very sharp,” he says. “You don’t need to use that very sharp knife all the time.” Organizations shouldn’t ask themselves, ‘What can I use blockchain for?’ Instead, they should identify the objective, then determine if they need blockchain’s ‘distributed’ control of data, or whether the centralized control offered by a database would solve the problem more economically. For example, Jyoti – Fair Works, a small German “fair fashion” label, tracks its materials from cotton field to textile maker to weaver so it can show buyers what went into their product.

Building the Chain

At RMIT, interest in Bitcoin is driving blockchain class registrations. But once students arrive in class they start to learn how blockchain can be a driver of overall business communications and trust. “Most of my students aren’t going to become blockchain developers,” says Adamopoulos. “A lot of them will become accountants or marketers and will land in companies that want to try blockchain for some key processes. My students will understand the technology and be able to make an immediate contribution.”

The industries and lines of business that students can move into is almost limitless. “Business and IT and logistics are the obvious areas,” says Fairbairn. “On the policy side, governments are going to need blockchain experts. Or you might work for a shipping transport company, a healthcare company, or an educational institute.” And those students are likely to find a welcoming job market. In 2019, the Australian Computer Society reported that there were 10 jobs for every blockchain-trained job seeker.

Blockchain may be in its infancy, but it’s poised to become the connective tissue in almost any kind of relationship that relies on a ‘trust but verify’ model. Christie believes that people who have these skills will be at a huge advantage when it comes to employment. “My advice for any student who’s even mildly curious about blockchain is to go for it—jump down that rabbit hole and never look back,” says Christie. “It’s the perfect time. Blockchain is in its very early stage, and no one really knows what impact it will have on the world.”

Source: https://www.forbes.com/sites/oracle/2020/05/27/blockchain-gets-university-credit/#595dc89f1806

The Bank of Lithuania finished its research phase on the LBChain’s blockchain project that aims to provide a regulatory infrastructure.

As of May 27, the Bank of Lithuania, or BoL, has finished the research phase of its blockchain-related project, LBChain. In the next phase, the institution will create a sandbox that mixes technological and regulatory infrastructure for the technology.

The platforms used for the research phase include Hyperledger Fabric and Corda, which were developed by IBM Polska SP. Z.o.o and TietoEVRY.

Adapting blockchain technology into different business sectors

LBChain allowed market participants to test their business solutions in a controlled environment by assessing the critical needs of fintech and startups. They then provided them with the ability to carry out blockchain-oriented research and adapt blockchain-based services into their businesses.

Andrious Adamonis, LBChain Project Manager at the Bank of Lithuania, commented:

“LBChain has proved to have enormous potential. It is the cradle of future technologies, offering the opportunity of creating state-of-the-art solutions. Having been already tested by financial market participants, the platform may also be applied in such fields as energy or healthcare.”

LBChain is a first-of-its-kind platform developed by a financial market regulator. Its development took two years and was split into three stages.

Latest developments on the BoL’s interest towards blockchain

On May 26, the BoL unveiled its long-term plans to develop its blockchain platform for use beyond the financial services sector.

Among the projects mentioned, LBChain included a solution for blockchain-based regulatory reporting, a blockchain platform for green bond issuance, and a blockchain-based digital bank.

At the end of 2019, Cointelegraph also reported on the Bank of Lithuania’s plans to release a digital, blockchain-based collector coin dedicated to commemorating Lithuania’s Independence.

Brave, the privacy-centric cryptocurrency-powered web browser has launched in-browser video calls featuring end-to-end encryption.

The encrypted video service, dubbed ‘Brave Together’ can be used to make unlimited encrypted video calls featuring two participants. All Brave users can access the feature, with no account sign-ups needed.

Brave revealed that video conferencing supporting more than two participants is currently being tested on Brave Nightly — the development version of the browser.

Brave Together is based on the open-source encrypted video software Jitsi — which was vouched for by NSA whistleblower Edward Snowden in 2017.

Video conferencing software demand spikes

The move comes following an explosion in the use of video conferencing software amid the COVID-19 pandemic and lockdown, with Zoom seeing an enormous spike of usage.

However, Zoom has received criticism concerning privacy and security, with ‘Zoom-bombings’ emerging as a rampant phenomenon during the lockdown. In April, an internal memo revealed that Elon Musk’s company SpaceX had banned its employees from using the video conferencing software due to “significant privacy and security concerns.”

Zoom will also introduce end-to-end encryption to protect its 300 million daily users this week.

Brave adoption grows

Co-founded by Javascript creator and former Mozilla CEO Brendan Eich, Brave pays its users Basic Attention Token (BAT) for viewing ads. It has made steady gains in adoption over recent months. The firm’s marketing head Des Martin tweeted that the platform surpassed one million new users during March alone.

Despite the strong uptake, Brave CEO Brendan Eich recently remarked that only a small percentage of its users take full advantage of the browser’s privacy features. As of this writing, more than 662,000 content creators have signed up to Brave’s publisher program. 53% of Brave publishers operate on Youtube.

Source: https://cointelegraph.com/news/brave-browser-launches-encrypted-video-calls-before-zoom

Always be wary when you see two technology buzzwords in one sentence. But the US Department of Transportation (DOT) makes some interesting cases for why the secure ledger tech of blockchain could help make drones safer and more accountable.In essence, there’s a lot to keep track of with drones, especially commercial drones that are carrying packages across the sky. So the DOT makes the case in a new paper for how sharing that information securely could keep everyone better informed.

Quick refresher on blockchain. It’s essentially an encrypted database that exists in multiple synchronized copies. You can’t add or change something in this database without agreement from all the parties that maintain it. As such, it’s theoretically safe from forgery or other tampering. A second benefit to blockchain is that, since all the parties hold a copy, they all have ready access to the data stored on the ledger.

Drones on the blockchain

So what information about drones could go in here?

The DOT suggests several, such as a blockchain-based flight recorder. Flight data would be streamed to and recorded on the blockchain. If there’s been an accident or near miss, regulators would know they have the true, unaltered report of where and how the drone flew. They wouldn’t have to request it from the drone operator, who might have incentive to fudge the data. And it’s not just for mishaps. Insurers might want access to the data to judge how safely a company that it underwrites has been operating its drone fleet.

The paper has one especially dramatic example: organ transplant deliveries by drone. (This has occurred before, and some healthcare delivery projects are talking about doing more.) With blockchain, everyone involved could have up-to-the-second info on all aspects of the operation. This includes recording the drone’s status. Where is it currently? Where’s it headed, and at what speed? How are the battery and other critical readings?

Likewise, there could be stats on the organ itself. How long has this, say, kidney, been outside the body of the donor? What temperature is it at? Both the hospital providing the organ and the one expecting it would have constant updates on its status. A team could be kept ready on the receiving end to get the organ and patient into surgery as soon as possible.

Source: https://dronedj.com/2020/04/29/us-government-blockchain-make-drones-safer/

The privacy and security of consumer data are highly essential in 2020 and beyond, to maintain the credibility of systems and foster trust among its users. In this case, the user has sole ownership of their data and has the right to decide on whether to share such data. Nonetheless, the latter has not been the case since some communication systems are either hacked, or the company itself willingly shares user data.

In 2019, for instance, Mobile TeleSystems (MTS), a Russian company was hacked, and unauthorized access was gained to 100 million customer records. Verizon Communications was also hacked in 2016 due to a security flaw. As such, 1.5 million Enterprise customer records were accessed.

To that effect, privacy and security are the two major problems of the telecommunications industry. This sector needs to hold large amounts of user data without compromising them or leaking it to the public. This means that processes like billing systems, roaming, and supply chain management have to be handled more efficiently.

Telecommunications companies could take it one step further to provide users with an efficient way of tracking how their data was obtained. Individuals would also have the right to withdraw or take back consent for their data to be accessed. Consequently, data misuse or data breaches would be a thing of the past due to this high level of transparency.

Inefficiencies In The Current System Due To Rigid Operational Structures

On the other hand, telecommunications companies are still relying on a centralized operational structure. What this does, is to create inefficiencies that may result in expensive usage fees, inaccurate billing, and security issues. At the end of the day, this mounts more costs on customers who may also have to deal with inflexible terms and plans.

In line with that, the advent of social messaging apps like Facebook, WhatsApp, etc. has stolen a significant portion of the market in the communications industry. It has led to declining revenues for telecom companies in the industry. The migration of users from these companies can largely be tied to their rigid operational structures.

The telecommunications industry, however, can return power to customers as the sole owner of their data. This is by prioritizing privacy and security through the creation of a proper and ethical foundation for data management. The first step to achieve this is by adopting a customer privacy-centric strategy that can also reduce costs significantly. This strategy involves the use of Blockchain technology in its processes.

Blockchain’s Features That Make It Impactful

Blockchain technology was launched in 2009, and it improves the way we to store, share and access data, as well as perform transactions. The technology comes with several features that can be impactful in the communications industry.

One notable characteristic of the Blockchain is its decentralized and distributed nature which brings about transparency. This is because there is no central authority to manipulate data. Also, different users can see the same data in real-time, and there is no potential for fraud.

Other selling points of the distributed ledger technology include its enhanced security. The reason can be tied to the fact that the distributed ledger offers data encryption, thereby making it more secure. Its decentralized nature also helps to ensure the security of the peers’ identity. What’s more, newer blockchain solutions are now offering faster speed for peer-to-peer transactions.

Ways Blockchain Can Influence The Telecommunication’s Industry

Blockchain offers several uses cases in various industries ranging from banking to logistics, and the same can be said about the telecommunication industry. Some ways it can impact this industry include:

1. Fraud Detection And Prevention:

In the U.S, over $38 billion is spent annually to cover the costs of fraud. On the other hand, blockchain proffers an effective and sustainable way of detecting and preventing fraud in the communications industry. This modern technology can be implemented in processes such as roaming, billing systems, and identity management.

Take roaming fraud, for instance, a subscriber may access the resources of a Host Public Mobile Network (HPMN). However, HPMN, who is a service provider may be unable to charge the subscriber. The fraud may also take longer to detect since information is transmitted between parties and there could be delays. A permissioned blockchain used by these participants would allow for the instant verification of transactions.

2. Secure Messaging:

A subscriber’s identity can also be compromised using email phishing, SIM cloning, etc. Once the user’s ID is stolen, it can be used to access the multiple-play services offered by telecom operators. It, therefore, mounts more losses on the user. In contrast, Blockchain allows for the decentralization of data, thereby ensuring that only the owner of such data can access it. The data is also secured using a private key while the subscriber is uniquely identified using a corresponding public key.

3. Data Management:

The Blockchain provides enhanced data management, which takes away the need for a person to always prove their identity to a vendor using physical or digital documents. Often times, not all the information required by the company is used. And there may be a need for the user to create an account on Google and Facebook just to supply information.

The latter is less convenient compared to the blockchain which ensures that data can be entered, reused, and accessed in real-time. Therefore, Telecoms companies can create digital data of their customers and store it on the blockchain. This data can be accessed by the companies’ partner websites if authorized access has been granted.

4. Micropayments:

Blockchain technology enables faster payments with low-cost fees. For this reason, it can enable telecom companies to provide micro-payments. Customers can use these payments to obtain online mobile games, music, videos, etc. They can also do this in a secure way since they do not have to reveal their bank account details, credit card info, or other sensitive information.

Conclusion

Privacy and security are important to every industry since it can make or mar it. While there are several modern technologies that can offer these benefits, blockchain technology increases transparency and efficiencies. It can also save telecom companies a lot of money, time, and reduce the potential for fraud.

Source: https://cryptodaily.co.uk/2020/05/future-2020-blockchain-will

Rapid Supplier Connect is designed to help health systems and government agencies identify and onboard alternative vendors when certain supplies and PPE are in shortage.

BM this week launched Rapid Supplier Connect, a blockchain-based network it says can help healthcare organizations, whether hospitals or government agencies, address equipment shortages during the pandemic by helping them find alternative suppliers.

WHY IT MATTERS

Northwell Health, the largest healthcare provider in the state hardest hit by COVID-19, and the Worldwide Supply Chain Federation are two organizations that have joined the network so far, according to IBM.

 

The goal of the initiative is to help members navigate the challenges and confusion of the pandemic by connecting them to a broader range of suppliers – those who exist outside of their traditional supply chain, who have reoriented their processes to produce much-needed masks, gowns and other personal protective equipment, according to IBM.

A more efficient supplier-onboarding process, with validation checks and inventory information made available in near-real time, is meant to help streamline the process. Suppliers on the network have portable online identity, access to user feedback, and the ability to post and manage inventory availability.

IBM is using the blockchain-based Trust Your Supplier identity platform, from Chainyard, for qualification and identification, in conjunction with its existing Sterling Supply Chain Suite and Inventory Visibility services.

While Rapid Supplier Connect complements existing supply chain networks, buyers also have the option to use the services of CDAX, a third-party paymaster, for a fee.

As part of the initiative, IBM is working with several other organizations to ensure integrity:

• Project N95, a clearinghouse for information on COVID-related suppliers, will help vet suppliers
• Dun & Bradstreet brings its identity resolution, firmographic data and supplier-risk scores
• RapidRatings provides financial health data on suppliers
• KYC SiteScan will provide “Know Your Business” due diligence report access
• Thomson Reuters, meanwhile, is offering its CLEAR customer due diligence tool, giving real-time data to vet suppliers and identify potential fraud

IBM says in most instances it takes just 30 minutes to join the network, and its operational support center can help with onboarding. Big Blue will make the tool available at no cost through August to qualified buyers and suppliers in the U.S. and Canada.

 

THE LARGER TREND

The coronavirus crisis has presented huge challenges and disruptions to healthcare and other supply chains, in many cases posing big safety risks to frontline care workers who lack sufficient PPE.

Many large and small businesses from outside traditional healthcare procurement processes have stepped in to produce masks, gowns and other essential supplies. But to buy them at scale, healthcare organizations – hospitals, state procurement divisions, pharmacies and others – need help identifying, vetting and gaining insights into their production capabilities.

With rapid Supplier Connect, IBM aims to offer that help.

Of all the many potential healthcare use cases where blockchain can help with security, integrity, visibility and efficiency, supply chain has long been among the most promising.

This week, Healthcare IT News published a guest post from a nurse and health policy master’s degree candidate, who proposed a blockchain-based supply network to help address these critical PPE shortages.

ON THE RECORD

“Northwell Health has had adequate supplies to protect patients and our staff during the increase in New York COVID-19 patient cases,” said Phyllis McCready, vice president and chief procurement officer at Northwell Health. “It is through creating our own GPOs and supply chain, and joining forces with non-traditional suppliers that we have maintained an adequate stockpile of PPE and other equipment and supplies, so we are pleased to join IBM Rapid Supplier Connect.”

Source: https://www.healthcareitnews.com/news/ibm-launches-blockchain-network-bolster-medical-supply-chain-during-covid-19