In the latest episode of Cyber Security Inside, Tom and Camille chat with IBM Senior Technical Staff Member, Arnaud Le Hors, about the enterprise use cases for blockchain.
They cover things like:
- The hype of blockchain vs. the reality of blockchain
- Where blockchain fits with supply chain tracking and transparency
- When blockchain makes sense and when it’s overkill
- The network necessity of blockchain
- Balancing transparency with privacy
- And more
Plus, Arnaud shares real world examples of how blockchain’s being used globally and across multiple industries.
Check it out.
Here are some key take-aways:
- The food industry was an early adopter of blockchain, and uses it to improve transparency and traceability in the supply chain.
- Blockchain makes the most sense where trust, transparency, and control/access of data is of concern.
- Blockchain in and of itself is not a solution. It’s a technology that can be built into a solution.
- You can have privacy settings in place with blockchain, so that you’re controlling who can access the information.
- The data is rarely stored on the chain. What is stored is proof that the data is accurate.
Some interesting quotes from today’s episode:
- “I kind of think of blockchain as a way to store data amongst businesses that don't trust each other.”
- “It's not a single player type of technology, right? You cannot just do blockchain on your own. It doesn't make sense. To make sense, you have to have a network of business partners who are going to use it.”
- “The very key aspect of the system being completely decentralized allows us to have the system around the world, literally.”
- “The blockchain itself is a way to actually store data. So it's not just about what's the most current or who's the owner, but it actually keeps all the data, basically since the beginning, as soon as you start tracking, and it just never ends. It’s a present day.”
- “And that’s something that wasn't so clear in the early days. There was, you know, definitely proponents of the notion that everything should be stored on the actual chain. But it's clear that we're evolved from this now, where the chain becomes just like the universal source of truth, where you go as a backup to be able to back your assertions, your claims.”