Experiments around the blockchain began in very different areas. Here are best projects that we have for you readers ranging from the use of distributed ledger for time stamping of connected objects, registration of diplomas, identification of diamonds, traceability of pork in China (tested by Walmart) and, more classically , interbank exchanges.Blockchains are tested by a number of sectors today to determine how we could take advantage of this distributed general ledger technology that records transactions in a tamper-proof manner .Here are three cases of applications in different areas.
The first is the banks, among the first to be interested in the topic.Perhaps, features that they disliked when they served for bitcoin now interest them in trading between them, in dollars or pounds sterling.The system is public, so banks can see if their counterparties can settle their debts, and it is distributed, allowing transactions to be closed faster than with some central banks.
Thus, the technology of an actor like Ripple allows banks to negotiate with each other globally without passing a central operator. Its partners include UBS, Santander and Standard Chartered. In addition, UBS and Santander are also working on another blockchain project called Utility Settlement Coin, which will allow them to make payments in various currencies with Deutsche Bank, BNY Mellon and other banking institutions. If these systems develop, it is probably only a matter of time before these payment blockchains are reinjected into the economy and compete with interbank transfer mechanisms such as Swift.Project 3: Identify connected objects and verify degreesOn the Internet, you can maintain a certain anonymity and the identity of the connected objects can be just as difficult to establish. This is particularly embarrassing if a company is trying to securely identify equipment that connects to its network and this is what led the US Department of Homeland Security to grant funds ($ 199 K) to a project developed by the Texan Factom. It creates a system for timestamping IoT terminal connections in a blockchain, registering their identification number, their manufacturer, available updates, known security issues and granted permissions. This could be handled in a traditional database, but the US Department of the Interior hopes that the immutability of the blockchain will complicate the task of hackers who want to pretend to be one of these connected equipment by preventing them from modifying Recordings.
It is not only objects that can be usurped. This is also true for qualifications. For example, if a company is looking to recruit someone with blockchain expertise (randomly), and the applicant says they have the professional qualifications, how can I verify that the certifications they have are valid? The software publisher Learning Machine suggests that candidates submit their degrees in their mobile app so that we can check their validity using Blockcerts. This is an open standard designed to store the details of a diploma or certificate in the blockchain so that everyone can be sure of their content and the identity of the person to which has been granted, without the need to contact the school or training organization that has awarded it. Learning Machine co-develops with the MIT Media Lab. The Blockcerts code is published on GitHub.Project 2: List diamonds with EverledgerDiamonds are eternal, they say.
It also means that the system used to track them will have to stand the test of time. Everledger relies on blockchain technology to offer a certification service that can prove the provenance and identify the owner of the diamonds registered in its ledger. The company actually uses two blockchains: the first is private and records information that diamond dealers need to share with acquirers, but they do not want to disseminate widely. The second is the bitcoin public blockchain that provides an indisputable timestamp for private recordings. Everledger has built its first database on the Eris blockchain application development platform developed by Monax, but has recently switched to a system using IBM’s Bluemix PaaS.
Diamonds are minerals that can be specifically identified because they have unique physical characteristics in their raw state. Those who are cut are now marked with a laser engraved serial number. Registering each movement of such valuable items allows insurers to spot fraud and international organizations to ensure that the diamond trade does not fund wars.
Everledger CEO Leanne Kemp believes the system could also be used for luxury goods and the art market.Project 1 :Walmart tests food traceability with IBM blockchainThis is another sector that is being explored in China, the traceability of pork. The Walmart chain tests IBM’s blockchain technology to record the origin of each piece of pork it sells in China, the location and how it was processed, its storage temperature, and its shelf life. If some products need to be recalled, it will then be possible to identify the affected lots, to tell where they are exactly and, if they have already been sold, who bought them. The project could be extended to other products. The US distribution chain has just opened in China the Walmart Food Safety Collaboration Center (WFSCC) to work with IBM and industry partners to improve food safety using technology blockchain.