Welcome to The Frontier, January edition and a happy new year to you if you’re celebrating. We hope you’ve not given yourself too many resolutions to stick to. Although we hear that subscribing to The Frontier would be a great one for the list! Here’s January’s blockchain lowdown.
Deloitte Chief Futurist Mike Bechtel recently announced that blockchain will be driving the next data storage revolution. It’s something we’ve long agreed with here at ByzGen, and in our brand new blog we explain how the business world (and our target SI market) is moving rapidly towards seeing blockchain as an essential part of trustworthy data sharing – instead of confining it solely to the world of crypto.
Introducing polls! We will be putting a few polls out on social media in the coming months, to get an idea of the kind of thing you’d like to read about in our blogs. It’s important to us that you have your say, so keep an eye out on Twitter and LinkedIn. And give us a follow @Gen_Byz.
Blockchain infiltrates the automotive sector! This article from RTT news, reveals that luxury car maker BMW is set to use blockchain technology in Thailand for their daily operations. BMW Thailand has partnered with blockchain company Coinweb to develop tools to automate their financing processes and loyalty program. It’s a pretty big step and definitely newsworthy for both industry insiders and customers alike, with a shift of manual paperwork towards immutable records on the blockchain and a blockchain-based rewards program for car owners (an area we’ve already seen taking off in other industries and projects). One of Coinweb’s customised applications will have transactions broadcast to multiple blockchains, which is also something we do in our FALKOR platform. And overall, it reminds us of the Smart Manufacturing Data Hub project FALKOR SI is involved with, which has similar characteristics.
In other news, the Internet of Things (IoT) is taking off and almost every industry is looking to take advantage of what it has to offer. Things like factory machines, traffic lights, aeroplanes all have the ability to talk to one another thanks to IoT. But all this data needs to be stored and processed correctly. Which is why, according to this article in Crypto Daily, blockchain (including our platform FALKOR SI) is the perfect partner for IoT. Blockchain provides a reliable, secure, non corruptible method of storing data that’s generated and processed by intelligent devices. And it has many more benefits over more typical and widespread cloud solutions. And when it comes to compatibility issues, IOTA has developed a specific IoT compatible blockchain, which we’ve already brought into our FALKOR platform. With so many sectors enjoying the benefits of IoT (smart meters in the energy industry and smart cars in the automotive industry for example), we’re most certainly looking at the combination of blockchain and IoT as part of our future.
And finally, this piece in Blockchain Reporter outlines six of the main reasons why organisations are still reluctant to implement blockchain based solutions including lack of information and lack of resources and expertise. As ever, it's fascinating for us to read about this, as our FALKOR SI platform approach can help to solve so many of these challenges. We have real use cases and project examples which organisations can use to find similar challenges or characteristics of challenges to what they’re experiencing. Plus our platform was developed to support the deployment and integration of blockchain technology, and takes away many of these feared IT challenges! Our phase one implementations are quick and cheap to implement, proving the benefits of the technology before it’s deployed on a wider scale. So that’s just one integration layer to meet multiple use cases and deployments. FALKOR SI also supports multiple blockchain solutions and compatibility between them, and provides ongoing innovations based on client needs. Crucially without imposing too much additional work to the organisation.
With that said, if you’re interested in blockchain technology, or what FALKOR SI could do for your company, get in touch!
The ByzGen Team
Marcus, Terry, Shristy, Rob and Ryan