Blockchains bring the opportunity to save time, money, and reduce risks for a wide range of industries.
This unlocks possibilities, where new processes can be brought into being. Specifically, Hyperledger Fabric blockchain technology allows innovators from various industries — healthcare, banking, finance, IoT, manufacturing, supply chain — to build customized blockchains combining cross-industry knowledge.
This transformation is powered by Hyperledger, hosted by The Linux Foundation, and can answer specific needs for growing business results with the help of modular architecture that maximizes the resilience, flexibility, and confidentiality of blockchain solutions.
CEO of IBM Ginni Rometty said, “What the internet did for communications, I think blockchain will do for trusted transactions.”
A concern of making transactions really cheap to record and easy to verify is extremely true for worldwide companies.
Fabric is not a “one-size-fits-all’’ solution, but an open-source developer-focused community to benefit an ecosystem of Hyperledger-based solution providers and users, focused on blockchain-related use cases that will work across a variety of industries and sectors. But wait: why should you care?
“There will be many public chains and millions of private chains, potentially each with a different consensus mechanism, preferred smart contract language, and other characteristics,” said Brian Behlendorf, IBM Executive Director. “The more common code underlying these chains, the better for everyone.”
One of the project goals is to create a family of enterprise-grade, open-source blockchain frameworks, platforms and libraries, upon which anyone can build and run their own apps to meet real business needs.
What you have to remember behind these sentences, is that Hyperledger will help you to secure and customize supply logistics, distribution and payment verifications between entities.
Let’s have a closer look at the so-called differentiating design features, presented in the Hyperledger’s white paper, and how you can take advantage.
With this in mind, whether you are an entrepreneur, developer, director, provider or an investor, be careful of which blockchain could answer your needs.
You might think Ethereum and other cryptocurrencies blockchain are necessarily the keys to unlock your industrial issues encountered in the business world, but it can be wrong. Depending on what you’re aiming to achieve, consider consulting with skilled and professional software engineer team.
Hyperledger framework drives the ability to isolate multiple organizations from each other through channels thus organizations without access to the channel cannot see the information in it. Hyperledger also provides a toolkit for creating a network, distributing rights between different organizations in it.
The NIX team had a challenging task to create and confidentially maintain health info about a patient when there are several independent participants in the process. Here is our network structure:
A flow, where several key participants are there — Hospital (Pediatrician) – Parents – Elementary School — contains the following 5 steps:
To restrict access to confidential info about children’s medical records, a different channel was created, accessible only to parents and the hospital. Thus, the elementary school will be not able to store any child’s medical records info on its node. Here is a parent’s advantage — confidential transactions only.
Also, our team created one more channel for reports on a child’s health state with access to all peers.
To get medical record info from another channel, one needs to make several requests to the network: to get medical info and record it into another channel. Since we implemented the cards’ access control with the help of smart contracts, it is not possible for third parties – if it’s neither parents nor a pediatrician – to obtain medical records.
Not only healthcare but various industries needed the same pattern — anywhere you need to manage confidential obligations without passing everything through a central authority.
We are able to create a solution where everyone is working together while ensuring confidentiality, scalability, and security. If you want to figure out more of our expertise, please contact us.
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