Enterprise blockchain and Industrial IoT are a match made in data management and governance heaven. The use cases are endless, but at a high level, the use of an immutable, decentralized system solves for current and future challenges through secured ownership, access control, data logging, increasingly complex supply-chains, quality control, regulatory requirements, and more.
Earlier this year, ClearBlade demonstrated the integration of blockchain to create transparency throughout the supply chain process, using an AMD Ryzen™ Embedded V1000, creating supply chain transparency, while reducing operating costs and keeping consumers safe.
Using the processor, we created a unique Edge Computing experience for enterprises that enables them to act on data from devices, even in moments of limited network connectivity.
We began working with AMD in 2017, and wo years later showcased the power of our combined Edge and Industrial IoT platform, Blockchain and Smart Contract to track progress in an encrypted, secure and trusted environment, during each step of the contract.
As the speed and accuracy of deliveries continues to evolve, with Amazon’s Prime Air trials, and Google’s Project Wing (a GoogleX project) already delivering merchandise from Walgreens to houses within six miles, shopping is more convenient, delivery costs are dramatically reduced, and given use cases including rushing medication or equipment, lives can be saved.
In 2018, the FAA predicted that 452,000 commercial drones would be in use by 2022, but revised its forecasts to say that number could manifest in 2020. The FAA predicts the commercial drone market will reach 835,000 aircrafts by 2023.
Without proper auditing, tracking and security, drone technology adoption could be slowed. By combining sensors, networks, and distributed ledgers to challenges including the need to protect privacy and to validate receipt, regulatory agencies will be more likely to support these hyper-distributed delivery models, and perhaps more important, insurance companies will agree to fund services from companies like Walgreens and other pharmacies knowing they are not compromising on security.
Imagine the development of a tiny blockchain-registered IoT device on a drone that will facilitate all drone to ledger transactions, directing communications to the ledger without any middlemen or intermediary servers.
This is just one example of how the combination of an IoT platform, hardware and firmware, local secure networks and blockchain can create a decentralized, resilient, secure, scalable and economically feasible enterprise solution.
With the right network service provider, and the use of unique cryptographic keys, digital identities, signatures and ownership can be verified and recorded the ledger, with a permanent and indisputable audit trail.
We’re delighted to have joined the new Blockchain Network Fusion consortium, given the clear opportunity to co-create solutions pulling together all the elements required to connect the physical and digital world in sustainable ways. Our view of the hyper-connected world aligns with the views of the charter consortium members, who recognize as we do that the entire way goods and services are delivered, whether physically through innovations like drones, or digitally through a new generation of data exchanges, has changed forever and will continue to rapidly evolve as new paths to value are recognized.