Welcome to The Frontier, February edition. We hope you’re keeping well, and for those of you in the Northern Hemisphere – we hope you’re enjoying the first glimmers of spring. Here’s what's happening in the world of blockchain this month.
Our first brand new blog for you is all about the growth of enterprise wide applied blockchain. According to Daniela Barbosa, General Manager, Blockchain and Identity and Hyperledger, Executive Director at The Linux Foundation, while crypto markets remain ‘volatile’, enterprise blockchain adoption is continuing to grow, with businesses regularly finding new use cases for the technology.
Our second blog this month follows on from this, digging into applied blockchain, and how it can specifically streamline supply chain management. We’re seeing more and more real applied blockchain use cases in this area, and many companies are replacing inefficient, outdated processes with it – creating a much higher level of compliance and transparency. Which can only be a good thing!
This article in WhaTech caught our eye recently as it's all about how enterprise blockchain and autonomous vehicles are a perfect match, with the former used to create a secure and transparent record of transactions and data related to these vehicles including maintenance, software updates and sensor data. Plus securely storing and sharing this data with chosen parties like manufacturers, suppliers and regulatory bodies. According to the piece, ‘60% of automotive companies will invest in blockchain technology for the production of autonomous cars in the future’. And even presently there’s a lot of interest within car manufacturers who are already teaming up with blockchain companies. It’s no surprise that enterprise blockchain is set to be the cornerstone for this future tech, as it provides the maximum amount of trust to all involved thanks to security, transparency, and efficiency.
In other news, this piece in the Coin Telegraph is a hot topic, highlighting the main takeaways from last month's World Economic Forum in Davos – in particular how blockchain is ‘changing the way we fight for sustainability’. It links back into the work we’ve done on tokenisation and blockchain’s role in sustainability, and how it can be crucial when it comes to solving issues like greenwashing, incentivising greener investments, and ensuring the transparency and traceability of impact reporting along the green finance value chain.
And finally the European Commission’s move to set up a regulatory sandbox for innovative use cases in DLT has definitely been on our radar. Its main objective is to support the cross-border dialogue with regulators and supervisors, and between companies and public authorities. But it’ll also help those involved improve their knowledge of DLT-related tech. Any learning experiences will be shared between regulators, leading to the creation of best practices – something we’re very pleased to hear about. Supply chains and verifiable credentials are also mentioned. It’s a huge step forward in our book, and we’ll be watching the outcome with interest.
That’s all for this month. If you're interested in blockchain technology, or what our very own enterprise blockchain platform FALKOR SI could do for your company, get in touch.
See you then,
The ByzGen Team
Marcus, Terry, Shristy, Rob and Ryan