Wine and The Hyperledger Blockchain
That’s where we started the Hyperledger conversation.
The Hyperledger blockchain allows you to track everything about wine. You can track the provenance of grapes, the age, quality – anything. It provides full traceability through the supply.
This means you will be able to scan a product anywhere in the world and see the details. Verified through a smart contract.
Marta goes down into the details of this. Fascinating! She also references the big brother example of this; Blood Diamonds.
We all know of the pain and the size of the problem. Yet, Everledger is redefining the Diamond industry. It’s a project that built on Hyperledger and SAP. It allows you to trace and verification what diamond is from where,
An Evolution, Not A Revolution
As Brett points out this, pulls together many things: IoT, Big Data, Cloud, Artificial Intelligence or Machine Learning. It’s a great point.
Marta makes the point that Blockchain needs to be an evolution – it needs to plug into what you have already. This is a very different way of thinking.
But What Is Hyperledger
Hyperledger is an open source collaborative, hosted by the Linux Foundation. It creates permission based Blockchains for enterprises.
It brings together leaders in finance, banking, IoT, supply chain, manufacturing, and technology.
Marta’s talk showed how this next-generation blockchain is dedicated, adapted and scalable for professional applications.
Opensource and the Blockchain Baking & Cookie Example
Opensource is powerful. It takes the common – or baseline elements of a process, makes it freely available. This allows you build your unique value on top of it and commercialise it.
History has proven that it works.
It is a truly distributed system that balances centralisation and decentralisation. Marta used a great example to help us understand how to use the Hyperledger Blockchain. She talked about baking and cookies.
In essence, Hyperledger provides the piping. This allows a consortium – banks, insurance companies etc – to build a common foundation. They are then able to leverage this through their unique IP or customer experience.
The bottom line is that you can make huge cash while contributing to the greater good!
The Permission vs Permisionless, Public Vs, Private Blockchains Spectrum
There is a spectrum of blockchains. Go listen to get a better understanding.
Marta breaks down the difference using medical records and her desire for a Harvard Degree. A mind-blowing discussion that comes down to incentives and personal motivations around consensus.
Hyperledger has built their own blockchain. It’s not about the currencies and they have built permission-based blockchains.
If you want to learn more about Hyperledger, you can do the free online course.
The Blockchain Africa Conference
The WTF #ThinkDigital Podcast spent two days interviewing many of the groundbreaking speakers at the Blockchain Africa Conference (#BAC18). The big topic was inter-operability and how the blockchain is maturing.