A warm welcome to the first ever ByzGen newsletter. This is your one-stop shop for ByzGen announcements, events, and updates – as well as the stories that have caught our attention this month in the wider world of DLT and blockchain news.
First of all, we’re very excited to announce a brand new partnership. We’ve joined forces with innovation creators Whitespace, to bring bespoke discovery workshop opportunities to those of you looking to develop a private blockchain solution for your business. This is a unique opportunity to discover whether a blockchain based data exchange is the right solution for your company, so why not find out more here.
We’ve also been working on an exciting new platform wide capability in the area of blockchain based events monitoring. ByzGen CTO Terry Leonard explains the concept and the benefits in our latest blog.
You can also check out more of our blogs, and any upcoming events on our Insights page.
This month, we’ve had our eyes on blockchain and the nuclear industry – one of the most specialised and highly regulated sectors in the world. However, with a supply chain that is still predominantly paper-based, it gets its fair share of security concerns, which is why the industry is turning to blockchain. It’s interesting to us, as one of our main target use cases is supply chains – both the tracking of processes, and data management elements. We’ve also discussed nuclear decommissioning at a detailed level with a client of ours.
In other news, a new report by Juniper Research reveals that blockchain-based insurance is expected to transform claims administration. Claims are anticipated to exceed $10 billion in cost savings globally by 2024 (up from $1.1 billion in 2021). It's good news for us, as our DLT, FALKOR can bridge multiple blockchain solutions to support all types of transactions possible in this sector. Plus we’ve ironed out a lot of the problems and difficulties of getting this capability delivered.
And finally, blockchain gets funded! Innovative company, Tata Consultancy Services (TCS) has become a leader in Enterprise Blockchain Services. According to this report by Market Screener, TCS' ‘verticalized approach coupled with its flagship products such as Quartz™, results in the development of accelerators for many use cases.’ It’s great news, as it shows a large entity putting the required funding into blockchain services and backing it. High five to TCS!
Until next time,
The ByzGen Team
Marcus, Terry, Matt, Shristy, Rob and Ryan