T:WTF 008 – Hyperledger – The Opensource Blockchain

Marta Piekarska is the Director of Ecosystem at Hyperledger – and whats really cool about the Hyperledger Blockchain is that is an open source blockchain platform.

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

Blockchain Africa Conference
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.

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Michael Cowen

Michael Cowen

Michael Cowen is the CEO of WTF and co-host on the ThinkWTF Podcast. I focus on helping business build systems where their people thrive. You can book my keynotes on WTF Keynotes

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