The Frontier June 2023 Edition

From digital supply chains, RegTech innovations, and the promising future of infrastructure all through the lens of blockchain integration, here’s how our favourite technology is changing the world, industry by industry.
Terry Leonard
Terry Leonard
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In this newsletter:

Tech Spotlight

Digital supply chains – going beyond blockchain

Who would have thought that the secret to success in the digital supply chain was a bunch of tech-savvy flower enthusiasts? 

Imagine a world where every item's journey is meticulously tracked, its origin never a mystery. Of course, finding the source of everything everywhere all at once comes with its own set of challenges, such as verifying the identity of multiple actors and systems generating data, managing complex relationships across borders, and functional needs for trust and traceability.

In the name of data integrity, IOTA Foundation has risen to the occasion. They’ve developed Tangle, an open-source distributed ledger and NoSQL solution, designed to address the challenges of digital supply chains.

Kenya's flower exporters, airlines, and freight forwarders are already reaping the benefits, thanks to expedited export processes powered by Tangle. This new approach is offering African companies a chance to increase their competitiveness on a global scale. THE NEWS STACK

RegTech x Blockchain = a match made in heaven

Is there any form of data infrastructure that blockchain can't improve? Name it. We’ll wait…

Regulatory technology (RegTech) is a data-intensive sector that has yet to embrace the potential for better data sharing.

What is RegTech, we hear you ask? It simply stands for Regulatory Technology, digital solutions whose sole job is the management of regulatory processes, often within the financial industries. With the helping hand of RegTech, companies can more easily gather, store, and analyse compliance-related data. And that’s where blockchain steps in – to act as a proactive risk manager and guardian of data integrity. 

Real-time monitoring and notifications? Check. Identifying and addressing compliance issues in a flash? Check. Stakeholder collaboration and standardisation support? You got it. Not to mention (but we absolutely have to), the process automation, the improved efficiency, and the reduced costs that are part and parcel of blockchain technology. 

The bonus? When you make advances in data management and operations you also get increased scalability and adaptability, which allows compliance teams to catch their breath and focus on carefully navigating forever-evolving regulatory environments. 

Blockchain-driven processes seem like an obvious choice for our RegTech friends. Yet, like any new toy, it comes with a manual and small print you should definitely not skip if you want to avoid costly mistakes. Potential troubles brewing up include inflexibility, overregulation, and privacy concerns. FINANCE MAGNATES

Blockchain industry news 🗞️

Fortune 100 embraces blockchain

Smart contracts are another of blockchain’s superpowers - revolutionising how we do business by automatically executing agreements in a decentralised setting. They bring with them a host of benefits, including reduced risk, lower costs, and improved efficiency. But like using any superpower for the first time, smart contracts aren’t without issues, from ensuring code safety to managing power consumption and addressing legal issues. Platforms like Ethereum, Hyperledger Fabric, and NEM each have their own strengths and weaknesses regarding smart contract development. And as we look to the future, exciting research areas like data science, smart contracts, artificial intelligence, and game theory will keep things interesting. MDPI

A glimpse into the future: blockchain-powered physical infrastructure

Once again, blockchain technology has emerged as a catalyst for reshaping systems old and new. Decentralised physical infrastructure networks (DePINs) are an intriguing new concept where the ownership and operation of network devices is placed directly in the hands of individuals and businesses whilst supporting a specific purpose, such as monitoring air quality.

Within this sophisticated ecosystem, reminiscent of an orchestra for the digital age, each participant contributes to the harmony and performance of the wider infrastructure – whatever instrument they use. Just as a conductor orchestrates a harmonious performance, blockchain harmonises the exchange of services and data, eliminating the need for traditional intermediaries. 

What does this mean for the future of infrastructure as we know it? We foresee a transformative shift in ownership and governance that creates resilient and inclusive networks where everyone involved has a stake in the growth and success of the ecosystem. Think better IOT connectivity and apps that share individual data to create real-time city maps. 

While challenges like the cost of hardware and regulatory considerations loom on the horizon, the promise of DePINs shines brightly. FORBES

ByzGen's world

ByzGen in the news: How our blockchain platform helps our partners secure new projects

Technology Magazine shares our excitement for the boundless potential of blockchain, choosing to feature our pioneering solution in their latest edition. The special feature explores the possibilities of FALKOR SI and how system integrators like Atos/Eviden have used it to help secure £50m in projects.

Taking the stage as a trusty companion in Atos' digital transformation saga, our blockchain solution emerges triumphant, unravelling complex enterprise challenges with ease. Not only does it offer robust security measures, but it also proves instrumental in driving down operating costs and optimising power usage. The end result? Increased efficiency and sustainability in project execution, all thanks to FALKOR – one platform to rule them all. BYZGEN

Keeping business data secure with blockchain

In the wild world of cybersecurity, where hackers roam freely, businesses face a constant battle to keep their valuable data under lock and key. Fear not. Our article predicts that blockchain will ride to the rescue of precious business and client data.

Picture this: your business faces the menace of data breaches, trust loss, financial woes, and disruptive chaos. Enter blockchain in all its decentralised glory, ready to hide data across a network of impenetrable computers, leaving sneaky hackers scratching their heads.

Blockchain's secret weapon is its redundancy and resilience – storing multiple copies of valuable data across the network, ensuring no single point of failure. It also secures data in an unbreakable fortress of encryption, making it tamper-proof and safeguarding its integrity. Plus, its transparency and accountability features quickly expose any villainous activity, shining a torch on all the nasty stuff lurking in the digital shadows. BYZGEN

And be sure to follow us on social media @Gen_Byz on Twitter, or @ByzGen over at LinkedIn.

See you then,

The ByzGen Team

Marcus, Terry, Shristy, Rob and Ryan

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