In 2020 we’re beginning to see the emergence of the second generation of blockchain business applications that take a more pragmatic approach.
There are many ways that blockchain can be used in a business context and perhaps shouldn’t. It is a complex multi-party system that can become a burden if used incorrectly, but can also open up new efficiencies, markets and opportunities if well understood and executed in an optimal way.
As we approach the end of this decade, I thought it would be worth having an honest and impartial reflection on how enterprise Blockchain technology usage has evolved over the past five years, since the very first release of Ethereum and smart contracts, and examine where we’ve landed as an industry.
It’s fair to say that it has been a very exciting and turbulent time, and a great privilege to be working in the space as this transformative new technology finds its footing.
There are many different potential applications of Blockchain technology, and I’m going to examine the space from…
Today we’re launching an alpha release of a zero knowledge proof library that we’ve been developing for a while. K0 (pronounced “K-zero”) sets out to generate private digital assets compatible with multiple enterprise blockchains.
We set out to solve two problems.
1. We felt that most enterprise blockchain platforms solve privacy by isolating transactions to very small validator sets (typically only the parties involved in a transaction, and perhaps a notary), at the expense of security provided by a larger validator set.
Before blockchain I worked as a developer, team lead and for many years as a solution architect for large enterprises.
The term architect, like many terms in the software industry, including the term blockchain itself, is widely used, abused and misunderstood.
I learned throughout my own career that there is a major difference between a software developer and a software architect. Between a building a solution that evolves, to one that has been thought through from the ground up, with all of the technical and requirement considerations. …
Applied Blockchain’s founding team has more than 20 years of experience in fields such as IT architecture, big data, and AI, to name a few. By drawing on their experience, Applied Blockchain can build solutions that meet enterprise standards for privacy, security, and integration.
Adi Ben-Ari, our company’s Founder and Chief Executive Officer, came across blockchain shortly after the 2015 release of Ethereum, the open-source platform that introduced Turing-complete Smart Contracts, enabling decentralized, distributed business process execution.
“Smart Contracts completely blew my mind, as a techie and an enterprise architect, I thought this was super interesting, so I started a…
Private: because we don’t want the whole world to access it, or take on the load
Blockchain: because different entities that don’t necessarily trust each other need to transact
Smart Contract: because we’re going to be implementing a workflow and share data between organisations that do not trust each other
Application: because it’s going to do something useful
At Applied Blockchain we’ve designed and built a number of private blockchain smart contract applications, and we thought it was time share some of the lessons we’ve learned. We’ve pioneered an approach we’re simply calling: BApp (Blockchain Application). It is a general…
This time next year, not everyone will be talking about Blockchain. The hype will not last. Blockchain is at the peak of a tech hype cycle. As with any hype cycle, this will not last forever. In fact, by the end of 2016 it’s unlikely to be centre stage. I do however believe that over time, some aspects of Blockchain technology will enable meaningful changes in a number of verticals including financial services.
There is a lot of experimentation and learning taking place, and proof of concepts are being created. However, the transition to production grade, real world applications is…
The reason they’ve chosen Ethereum is because they see the potential of one particular feature: The Ethereum Virtual Machine. This smart contract implementation, together with it’s developer friendly Solidity programming language has sparked a great deal of interest as you know.
Why? Because it is an almost perfect paradigm for designing decentralized permission-based cross-organisational workflow (see here) — without the need for a trusted/centralised intermediary of course. This is achieved by providing a template for sharing and modifying data, and following a sequence of permission-based interactions/transactions in a controlled, accountable way. …
A blockchain smart contract is a piece of code that defines the rules of a transaction. In the original Bitcoin blockchain, a transaction was defined as the transfer of cryptocurrency value from one account to another.
In asset based blockchains, a transaction may be defined as the transfer of an asset (or part of an asset) from one account to another. Smart Contracts allow you to extend that model. …
An ICO is the launch/sale of a new public token, with a view to the token forming an integral part of the proposed application, and therefore backed by the expectation that as the application becomes successful, so the token will gain in value.
The advantages of ICO’s is that they’re open to anyone, and the amount of invested can be very small. This is true democratisation of investment, and is fuelling both investment in the sector, and the creation and growth of new companies. To date almost $500m have been raised in a few short months:
far exceeding traditional VC…
Applied Blockchain builds enterprise grade, future-proof, real world blockchain applications and products for global companies and blockchain startups