As many of our readers know by now, blockchain is an architecture that allows users to conduct transactions with each other and create an unchangeable, secure record of those transactions. As such, it has attracted an enormous amount of interest by technologists in finance, healthcare, supply chains, shipping, energy and even election voting.
“The applications are endless,” is a common refrain. Another is “blockchain technology will be the next TCP/IP of finance.”
In this new article, Computerworld senior writer, Lucas Mearian, gives us a three-page course on the current state of blockchain adoption across many industries and a look at the challenges they each face. Finally, he gives us a look at the possible future of blockchain deployments and their role in transforming business practices for efficiency, speed and security.
Recently, the House Science, Space and Technology Committee’s Oversight and Research and Technology subcommittees held a hearing titled, “Leveraging Blockchain Technology to Improve Supply Chain Management and Combat Counterfeit Goods.”
Blockchain momentum is accelerating at even the highest levels among decision-makers. In the House or Representatives hearing, a director with the Department of Homeland Security summed up the sentiment on the future of blockchain technology saying, “The applications are almost limitless.”
Representatives from the shipping and supply chain industries spoke up to agree. Click to get the short scoop or full transcript at Blockchainplusthelaw.com.
The Commodity Futures Trading Commission (CFTC) is looking at the possibility of using today’s distributed ledger technology to bring speed, security and other efficiencies to monitoring swap transactions in what is called “Swaps Regulation 2.0.”
The current consideration envisions the CFTC as a supervisory node in a distributed ledger platform, poised to monitor swap transactions as they take place.
In this new Blockchain + The Law article by Cheryl Aaron, a regulator node is described as possibly being a considerable advantage to both regulators and regulated entities. It could enable participants to better comply with their reporting and recordkeeping requirements by accessing the data they need “to properly understand and regulate the market without any intermediaries, and potentially for a lower cost.”
Aaron writes, “By relying on a blockchain-based reporting and recordkeeping system, swap market participants could potentially eliminate the middleman (swap data repositories) entirely.”
CoinDesk reports that “Four of the world’s largest carmakers have joined tech providers and startups to form the biggest-ever consortium focused on applying blockchain tech in the automotive sector.”
The consortium that connects them is the recently launched Mobility Open Blockchain Initiative (MOBI).
MOBI’s goal here is to enable payments and data-sharing between cars through common standards and APIs to open the way for a new digital mobility ecosystem.
The initial work will form project teams focusing on areas such as vehicle identity and data tracking, ride sharing, mobility ecosystem commerce, and data markets for both autonomous and human driving.
Read all about the initiative and get involved in this newest “Big Thing” to hit the economy.
Anne Canfield, writing for Blockchainplusthelaw.com, gives us a brief description of why we need new cryptographic advances and a privacy protocol that delivers blockchain’s advantages. She envisions a decentralized social network that uses nodes to sign a smart contract between new ‘friends’ where posts, statuses and pictures are stored and shared with via the InterPlanetary File System (IPFS) network protocol.
Amazon Web Services has launched their new Blockchain Templates as a way to accelerate blockchain app development on Ethereum or Hyperledger Fabric networks. They expect the offering to give AWS users an easy entry into a wide range of applications, including payments, logistics, contracts and even crowdfunding for starters.
Read the Jennifer Georgino interview David Houlding, Director of Healthcare Privacy and Security at Intel Health and Life Sciences (HLS), about enterprise blockchain implementation, hosted by Blockchain Healthcare Review.
As Houlding says, “There are amazing benefits blockchain technology can bring to the industry in terms of improving the quality of patient care and reducing the cost of healthcare.”
In this article, Anne Canfield writes, “2017 may have been the year of the cryptocurrency, but 2018 is shaping up to be the year of the blockchain.”
She also predicts, “This technology will the next big leap forward in increasing productivity.”
The article describes new developments in Real Estate, Smart Contracts, Pharmaceuticals and Healthcare, and Shipping.
The HIMSS18 Global Conference & Exhibition in Las Vegas has wound up. In the latest issue of Healthcare IT News, Mike Miliard gives us an overview of the hot topics of the week.
Acknowledging that the post-EHR era has fully arrived, he writes, “There was the day-long Machine Learning & AI for Healthcare event and the Blockchain Forum, HIMSS VentureConnect and Rockstars of Emerging Healthcare Technology. The Innovation Live showcase in Hall G was populated with leading-edge companies touting AI, augmented reality, biometrics, IoT and much more. And far from theoretical, many of those technologies are already on the minds of leading CIOs.”
Even if you were one of the “nearly 45,000” attendees, you couldn’t have taken it all in. Here’s a good wrap-up overview of the major ideas, innovations and initiatives that are shaping healthcare today.
Near the end of last year, the Commodity Futures Trade Commission (CFTC) proposed a seemingly esoteric new rule that would define the term “actual delivery” for retail commodity transactions in virtual currency. Learn more about the CFTC’s new “functional approach” to actual delivery of virtual currency and make your opinions known to the CFTC before they define the final rule.
This new article presented by Blockchain + The Law considers the issues from a variety of perspectives, and you can comment to the CFTC before the closing date of March 20, 2018.