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Enterprise Blockchain


Learn about how NiyamIT is advancing the healthcare industry with technology solutions using cloud, bid data and more.

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Enterprise Blockchain


Learn about how NiyamIT is advancing the healthcare industry with technology solutions using cloud, bid data and more.

Fast, Indelible, Trusted

Anticipated in use by up to 65% by 2020, Blockchain As a Service is a key offering for many market segments. We are learning, experimenting on the Hyperledger Project with IBM, to try on possibilities for a ‘System-of-Records’  in Federal IT systems on Blockchain Technology, for faster decision making, creating an indelible audit trail for trust and accountability.

The Beginnings

The first Bitcoin transaction was a pizza order on May 21st, 2010 for 10,000 BTC in Jacksonville, FL. On January 2, 2017, Bitcoin hit a three-year high, with value reaching as much as $1,033.

Bitcoin, the rebel money, had been lurking in the background as a mysterious cryptocurrency, used by gamers, money launderers and others in the dark alley and now, is at the threshold of a revolution. The excitement is not just about the emergence of a new alternate currency that is not governed by dynamics of any government like traditional currency, but also the technology that makes it happen – The Blockchain Technology.

But as of now, the technology is under developed and not enterprise worthy. The mysterious crypto-guy lurking in the dark alleys needs an extreme makeover to earn a seat in high profile enterprise board rooms. 

More: Challenges facing Blockchain in Enterprise IT

Trends so far

Banks have spent more than $1 billion on blockchain projects in 2016. Financial institutions are the early adopters of Blockchain technology, at the same time thought leaders from varied business domains like healthcare, supply chain, energy utilities, music industry, transport etc. are trying to become the disrupters.

The Potential

Blockchain has the potential to transform transaction based business models drastically. The outcomes may lead to better security, extremely transparent and highly efficient systems. 

Why Blockchain?

Its a peer-to-peer database of which every participant has a copy. Transactions recorded in this distributed database are immutable, unchangeable, written in stone. The only way to make a change is, to record another transaction that modifies the original transaction. Blockchain by design offers security, transparency and efficiency to solutions built on top of it.

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Kinks in the Blockchain


Learn about how NiyamIT is advancing the healthcare industry with technology solutions using cloud, bid data and more.

Kinks in the Blockchain


Learn about how NiyamIT is advancing the healthcare industry with technology solutions using cloud, bid data and more.

Challenges facing blockchain in enterprise it

Permissionless

Blockchain’s debut vehicle, Bitcoin, is a permissionless implementation. Anyone can join. But not everyone in the enterprise scenario has access to every bit of information. There are laws governing privacy and confidentiality. A permissioned blockchain with better support for confidentiality overcomes this challenge.

Consensus Mechanism

In Blockchain’s existing DNA, transactions can be validated by anyone who is able to contribute massive amounts of computing power or most proof-of-work (the longest chain). Validation in an enterprise system is governed by business rules. This will be fulfilled by a consensus mechanism in which all network validators come to agreement on the state of a ledger (Pluggable Consensus or Consensus -as -a- Service)

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Coexist, How?

In an enterprise IT scenario, Blockchain cannot reside in a silo, by itself. The Blockchain ecosystem needs to coexist with other subsystems to add value. Adding Interoperability with APIs that talk to at least one node in the block chain takes care of this. (gRPC, REST API, SDKs)

 

Scalability

With Blockchain as is, every node is burdened with many functionalities, i.e. execution, validation, ledger maintenance and implementation of consensus logic. This causes performance and scalability issues, in addition to the ever-growing data store. The hyperledger architecture aims to separate these functionalities into pluggable components i.e. pluggable consensus service and pluggable data stores

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Hyperledger fabric: The makeover


Learn about how NiyamIT is advancing the healthcare industry with technology solutions using cloud, bid data and more.

Hyperledger fabric: The makeover


Learn about how NiyamIT is advancing the healthcare industry with technology solutions using cloud, bid data and more.

The Make-over: From Dark Alleys to Enterprise IT

Hyperledger Fabric is an open source collaborative effort, where communities of software developers blockchain technologies are being leveled up for mainstream commercial enterprise adoptions. Hyperledger participants are exploring, building and improving a new generation of transactional applications that establish trust and transparency while streamlining business processes. The blockchain is being designed to be modular and pluggable to fit a variety of use cases.

Bitcoin to Enterprise Blockchain

Hyperledger Fabric is managed by the Linux Foundation. It is an open source collaborative effort to bring about the much-needed extreme makeover for Blockchain to develop enterprise solutions. Industry-leading organizations have joined the Hyperledger Project to develop an enterprise-grade, cross-industry open platform for distributed ledgers.

Hyperledger consists of

1.       Membership services (manages identities, certificates of participating nodes)

2.       BlockChain (distributed ledger)

3.       Consensus mechanism (Set of rules that maintain a coherent set of facts between participating nodes)

4.       Chaincode or Smart contracts which is a set of application specific business rules or a Rules engine

 

Call for a New Operating System for Business Processes: Be a part, Innovate

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Be a ParT, Innovate


Learn about how NiyamIT is advancing the healthcare industry with technology solutions using cloud, bid data and more.

Be a ParT, Innovate


Learn about how NiyamIT is advancing the healthcare industry with technology solutions using cloud, bid data and more.

Hyperledger Fabric is actively seeking innovators to contribute to the project. Pick an area of your interest and join any of the Hyperledger project working groups. Get started with obtaining a Linux foundation user ID for free.

 

Working Groups:

1.       Requirements group – Gathering use cases, requirements

2.       Whitepaper group –  Publish whitepapers, maintain knowledgebase

3.       Architecture group – Build the Reference Architecture for Hyperledger Fabric

4.       Identity group – Focus on different aspects related to identity management like membership services, federation, permission less, permissioned, etc.

There are many projects in incubation stage, for eg.:

1.       Blockchain explorer – tool to allow seeing nodes, transactions in user friendly interface

2.       Fabric – Permission network

3.       Fabric API – Java API to interact with network

4.       Fabric chain tool – testing, developing deploying chaincode