Appendix CBlockchain Technology
Principal Consultant, Ericsson, India
C.1 Overview
Driven by digital trend explosions, today businesses are under tremendous pressure from new technologies and competition and are constantly looking for new ways to increase their revenue. The existing value chain is in the verge of collapsing in favour of effective ways to store, exchange and track assets in a secure, efficient and trusted manner in the digital multi‐vendor ecosystem. This is the reason why blockchain has gained momentum in the enterprise world.
With cloud computing and the Internet, people are able to have global access to computer applications from a variety of devices. Even though cloud computing architecture is decentralised in terms of hardware, it has given an application level centralisation. Currently we are seeing a transition from centralised computing, storage and processing to decentralised architecture and distributed ledger technology is one of the key innovations making this shift possible.
Blockchain has the power to drive digital transformation across industries.
C.2 Distributed Ledger Technology (DLT)
A distributed ledger is a type of secure data structure which resides across multiple computer devices, spread across locations or regions with no centralised controller. This is a new way of keeping track of who owns financial, physical or electronic assets.
DLT includes a number of innovations such as database entries that cannot be reversed, automated ...