What's New Blockchain for Business (August 2019)
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1) Blockchain adoption is emerging in seven patterns including a decline in proofs-of-concept as the focus shifts to scale and standards, and the emergence of industry consortia. 2) IBM is developing blockchain solutions for trade finance, food supply chains, payments, and identity using Hyperledger and other technologies. 3) Self-sovereign identity allows individuals to control access to their own identity data through decentralized identifiers and verifiable credentials.
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What's New Blockchain for Business (August 2019)
- 1. What’s New Recent developments in blockchain and what’s coming 9 August 2019 Blockchain Explained Series Blockchain Explained IBM Blockchain Platform Explained Solutions Explained Labs Explained What’s New IBM Blockchain Usage Patterns
- 2. 3 Blockchain builds on basic business concepts • Business Networks connect businesses • Participants with Identity • Assets flow over business networks • Transactions describe asset exchange • Contracts underpin transactions • The ledger is a log of transactions Blockchain provides an immutable, shared, replicated ledger
- 3. US$ 23 billion US$ 176 billion 66%10% of global GDP will be stored on blockchains or blockchain related technology by 2025 Source: World Economic Forum business value added by blockchain by 2025, then surging to exceed $3.1 trillion by 2030 Source: Gartner of banks expect to have commercial blockchain applications by 2020 Source: IBM Source: MarketsandMarkets estimated size of the blockchain technology market by 2021
- 4. Topics CommunitiesTechnologies • Bitcoin • Ethereum • Hyperledger • CORDA • Ripple • BigChainDB • Quorum • Stellar • +++ Blockchain in 2019 • Shared Ledger & smart contracts • Public, private • Permissioned, permission-less • Tokens and incentive mechanisms • Identity and Zero Knowledge • Consensus mechanisms • On-chain, off-chain • Systems integration • Inter-ledgering • Physical-digital with IOT • Bitcoin • Ethereum • Linux Foundation / Hyperledger • EEA • ISO/TC 307 – Blockchain & DLT • IEEE Blockchain • W3C Blockchain Community • Accord Project • Sovrin • DIF
- 5. 6 Blockchain adoption: seven emerging patterns 1. Decline of PoCs The wave of PoCs conducted by BC innovators has plateaued; with many new explorers looking to bypass this stage by learning from others. 2. Platform industrialisation With growing comfort that the business and technology concepts work, the focus turns towards scale and resilience 3. Best practices Use cases within industries stabilising and repeating; giving rise to best practices. 4. Centres of gravity Maturity and condensation of interest groups allows the formation of common interest pools 6. Emergence of consortia Supply chain partner and competitors are pooling resources to achieve scale and joint efficiency 5. Emerging standards and governance The need to exchange data and processes is leading to industry standards, legal framework and regulatory guidance 7. Network of networks Portability of data and and trust in maturing BC networks allows for inter-network communications Past …declining… Present …transpiring… Future …forming… 1 2 3 4 5 6 7
- 6. 7 Trade Finance Universal Payments Global Trade Identity Healthcare Bank Guarantees Food Government Distributed Energy Clearing & Settlement Provenance Unlisted Securities Insurance IBM is making blockchain real for business with cross-industry solutions and over 100 active networks.
- 7. 8 • Trade finance platform: backed by a consortium of major international banks • Full function: enables accurate trading posture information, order to settlement control, risk coverage, track and trace options • Near-real time: exchange of information • Discovery: Allows buyers to discover trusted sellers and vice-versa Re-imagining digital business processes World Wire • Connects the ecosystem: brings together ports, terminals, ocean carriers, government authorities, etc • Drives true information sharing: real-time and seamless actionable insight • Fosters collaboration and trust: automate cross-org business processes • Shared visibility and shared state for shipments • Manage quality risk: enable rapid, low cost, food recalls • End to End transparency: data sharing extends beyond 'one up, one down’! • Trust and Audit: ensure provenance with easily trusted, auditable records. • Consumer confidence: comprehensively communicate with end consumer • 24x7 payments: payment support regardless of size, origination, destination or asset type • Higher visibility: for streamlined transactions with reduced disputes and reconciliation needs • Regulatory compliance: enhanced through improved transparency • Secure network: with interaction and eligibility criteria & robust access control
- 8. 9 More than $16 trillion in goods are shipped across international borders each year 80% of the goods consumers use daily are carried by the ocean shipping industry By reducing barriers within the international supply chain, global trade could increase by nearly 15%, boosting economies and creating jobs2 In many cases the administrative cost of moving a container is higher than the cost of physically moving it 1) Maersk Strategy Group (May 19, 2016) based on World Bank data for World Trade Costs 2) The World Economic Forum: Enabling Trade Valuing Growth Opportunities 2013 The cost of global trade is estimated at $1.8 trillion annually1 with potential savings from more efficient processes of ~10% 9 : digitizing the global supply chain
- 9. 10 • We.trade is a blockchain- based international trading platform for a consortium of major world banks • Enables accurate trading posture information, order to settlement control, risk coverage, track and trace options • Near-real time exchange of information • Allows buyers to discover trusted sellers and vice-versa
- 10. 11 IBM Food Trust addresses key issues in the food ecosystem Consumer demandSupply Chain Food wasteFood safety 1 out of 10 contract foodborne illness each year One third of global fresh food is thrown away 80% of CPG business is paper based Only 1 in 4 consumers trust today’s food system *Part of 2018 roadmap for delivery Food Supply Chain Ecosystem Blockchain Technology IBM Food Trust leverages blockchain’s unique properties to create a secure, shared, and permissioned transaction record IBMFoodTrust The result is a safer, smarter, and more sustainable food supply chain
- 11. 12 IBM Food Trust addresses key issues in the food ecosystem
- 12. 13
- 13. 14 Governance of blockchain networks Permissioned Permission-less Permissioned, tokenized tokens N Y policyN Y Digital tokens Digital policy
- 15. 16 Self-Sovereign Identity: Status and Standards OPEN Interoperability & standards Self sovereign identity providers Non-profit foundational network Linux Foundation: Project Indy Open source implementation Standards specification for specifying and verifying credentials Decentralized key management system PortabilityLow High High User control centralized federated Self sovereign User centric
- 16. 17 Self-Sovereign Identity example Doctor Acquires, Stores, Presents Hospital Requests, Verifies University Issues Issues Credential Presents Credential Decentralized Identifiers (DIDs) Blockchain You’re now a Doctor Yes, you’re a Doctor Signs Credential Countersigns Credential Verifies Signatures I’m a Doctor Verifiable credential Verifiable credential Verifiable credential
- 17. 18 Discovery Workshop Engage an IBM Blockchain architect to help you plan and define the architecture for your enterprise blockchain solution, which includes a two-day in person workshop. Design Thinking Workshop Combine an IBM Design Thinking workshop with IBM Blockchain’s approach to solution architecture to define the minimal viable product, as well as, a blockchain solution architecture. Develop a functioning blockchain solution using agile methodologies, leveraging experts in IBM Blockchain, UX/UI design and development, and cloud architecture. Engage with an IBM Blockchain technical expert to learn about Hyperledger Fabric, IBM Blockchain, and general blockchain concepts. Length: Half Day Length: 2 days Length: 4 – 12 weeks Length: 1 week Length: 3 days Length: Up to 1 week Understand market opportunities and select a use case which represents the value your organization and your business network seek, while also gaining a deeper insight in blockchain technology. Architecture Workshop Apply IBM Design Thinking principles to evaluate current business processes, identify business network and define the minimal viable product for your blockchain solution. Design Thinking & Architecture Workshop MVP Build-up Blockchain Education Getting Started Services IBM Cloud Garage with Blockchain Offerings provide you the services you need to get started with Blockchain.
- 18. 19 Quickstart Deployment Provide an expert review of your current Blockchain architecture, configuration and implementation to identify issues and areas for improvement, resulting in recommendations for improvement. Planning Assessment Holistic review of the client app and blockchain network to identify potential performance bottlenecks. Starts with architectural review and leverages an IBM test harness to compare client’s environment to a predefined benchmark. Deploy a custom IBP network on IBM Cloud Private based on recommendations from planning assessment. Suitable for a broad range of requirements and use cases. Length: 1 week Length: 1 week Length: custom Length: 1 week Length: 2 weeks Deploy a Distributed Peer on IBM Cloud Private with an existing IBM Blockchain Platform network instance on IBM Cloud or deploy a Full Network including CA and Orderer. Health Check Evaluate client readiness for deploying IBM Blockchain Platform on IBM Cloud Private. May require multiple 1-week assessments. Performance Assessment Remote Peer Deployment Deployment and Production Services Expert services to help you deploy your network in production and perform at scale.
- 19. 20 The future belongs to a “network of networks”
- 20. 21 Key Takeaways • IBM Blockchain puts the experience of over 500+ client engagements and multiple active networks at your ecosystem’s fingertips. • IBM is the #1 blockchain vendor1 with 32% of the blockchain market2 • It has the only integrated business-ready platform that empowers a group of institutions to activate a decentralized blockchain network in record-time 21 1 Source: Juniper Research 2 Source: WinterGreen Research
- 21. Questions? Tweet us or go to ibm.com/blockchain @IBMBlockchain IBM Blockchain IBM Blockchain Thank you
- 22. © Copyright IBM Corporation 2019. All rights reserved. The information contained in these materials is provided for informational purposes only, and is provided AS IS without warranty of any kind, express or implied. Any statement of direction represents IBM's current intent, is subject to change or withdrawal, and represents only goals and objectives. IBM, the IBM logo, and other IBM products and services are trademarks of the International Business Machines Corporation, in the United States, other countries or both. Other company, product, or service names may be trademarks or service marks of others.