Blockchain technology is gaining popularity exponentially. Industry and enterprises have started realizing the promise of blockchain as a technology with great impact. The real question is how to start this journey and how to make the right choices.
Let’s look at the key concerns an enterprise might have in blockchain adoption
Data Privacy and confidentiality: Enterprises have confidential data which cannot be shared with the entire world even though it needs to be shared with multiple entities. Enterprises have specific agreements with certain partner organizations which needs sharing of information but not necessarily to everyone like public blockchains.
Efficiency and speed of transactions: Enterprises have high volume transactions, but cannot afford delays for a transaction to commit due to business reasons.
Modular design approach: One size fits all is not pragmatic when it comes to enterprise ready solutions. Enterprises have existing frameworks which needs to be leveraged. A typical example is the reuse of LDAP or any identity management capability an enterprise already have.
Hybrid approach: As an enterprise, there are key processes in the value chain which can greatly benefit from Distributed Ledger Application and needs to integrate and co-exist with the other process within the enterprise.
B2B focus: In large enterprises, one of the key technology challenges relates to B2B scenarios or working with partners. This is mainly due to the difference in technology each of these parties in the ecosystem which makes data sharing and integrations painful and expensive.
Mining and legal restrictions on location of nodes: Enterprises often have legal regulations or policies on where the data can reside. There are specific regulations in North America for certain industries and similar regulations exists in European Union. Publically mined blockchain is not an option due to these considerations.
Alignment with the vision of going digital Digital transformation is on the way. Blockchain adoption needs to be complementary to digital transformation investments in an enterprise. Above concerns are critical in any selection process for an enterprise grade solution. Such an evaluation is the key for discerning one technology over another.
HyperLedger answers all these concerns for enterprise and promises to be a solution for many of its use cases.
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Hyperledger is a good choice!
Hyperledger is enterprise ready, designed and developed with an enterprise view.
It’s an open source technology from Linux foundation backed up by leading technology players like IBM, SAP and supported by leading corporates. · It has all the core features of blockchain as a technology and more.
Hyperledger is a Permissioned blockchain and have addition features like channel for enhanced data security and confidentiality.
Enterprise / consortium can decide where the nodes should be and it does not need public miners to sustain.
Modular design approach enables Hyperledger to plug and play different elements in the stack based on specific requirements for an enterprise.
Easy integration with other Digital technologies - and proven by integration with IBM Watson, SAP Leonardo to name a few.
Hyperledger Fabric 1.0 is production ready Want to learn more? Reach out to us.