While Global Blockchain and HPE blockchain are interested in entering the enterprise space, integrating such a solution with existing IT infrastructures and addressing unique enterprise risks is more challenging. That’s why this article is a Proof-of-concept for financial services. We also explore its potential for enterprise applications and its potential to disrupt cloud behemoths. Read on to learn more about HPE Blockchain. And stay tuned for future blog posts on the topic!
Mission Critical DLT solution
The Mission Critical DLT solution is part of HPE’s overall approach to blockchain workloads. It runs on HPE Integrity NonStop platforms, which process nearly two-thirds of all credit card transactions worldwide. The solution was developed in partnership with enterprise software firm R3 to enable distributed-ledger workloads on mission-critical cloud platforms while ensuring massive scalability and SQL integration with legacy systems.
The Mission Critical Distributed Ledger Technology from HPE enables customers to deploy blockchain solutions rapidly. The new solution uses a decentralized network of computers to record transactions. It’s a critical component of the Critic Blockchain and HPE Mission. The mission-critical platform is expected to be commercially available in early 2018.
Proof-of-concept for financial services
HPE’s distributed ledger technology is being tested on a mission-critical platform for financial services. The company says the technology can be adapted to any enterprise application, including finance and insurance. While no specific application has been chosen, the proof-of-concept will demonstrate its feasibility and usefulness. The project will also showcase how blockchain technology can be applied in financial services. The company is seeking strategic partners to help with the project.
The technology behind blockchain is a distributed ledger system that allows participants to share and record data without the need for a centralized management system. In the present paper, we introduce a Proof-of-Concept (PoC) for financial services based on the Hyperledger Fabric 1.0 blockchain platform. During the PoC, the proposed solution met various system requirements and security criteria, but it did encounter some flaws in the implementation of cryptography function.
As for how this technology can be applied to financial services, HPE is seeking out partnerships and customers in other industries. For instance, a blockchain can be used to track performance and maintenance data on aircraft. The company does not identify its clients, but the development of financial services-based blockchain technology is already starting to attract the attention of strategic partners. Last month, IBM and MasterCard both launched their own blockchain payment system.
HPE also announced a partnership with R3 to develop distributed ledger software. The collaboration will allow HPE to bring the R3 Corda distributed ledger technology to Mission Critical HPE Systems. The R3 Corda blockchain technology is a distributed ledger designed for high-volume transactions, and the partnership with HPE will help HPE make inroads against IBM and other competitors. With this partnership, we are on the right track towards a future where financial services will be at the forefront of technology.
HPE expects the blockchain to fundamentally change business as we know it today. It will reduce barriers to entry, boost efficiency and cut operating costs. It will also allow enterprise users to transact directly with one another, thereby promoting efficiency on multiple levels. Furthermore, it will open up new business models and shift the way we do business. With a little bit of luck, we’ll see more examples of these types of applications in the coming years.
Potential for any enterprise application
HPE has announced its Blockchain as a Service offering that will be available in the first half of 2018. The service will enable companies to deploy blockchain at enterprise scale, utilizing HPE’s purpose-built architectures, end-to-end delivery, and ecosystem of partners. As a decentralized, tamper-proof ledger, blockchain records any transaction in a transparent and tamper-proof way. Every transaction on the blockchain is updated, making it a single source of truth.
In response to the growing interest in enterprise blockchain technology, even household name IT companies are making moves to provide their own blockchain infrastructure IT services. Hewlett-Packard Enterprise (HPE) recently announced Mission Critical Distributed Ledger Technology, a solution that provides enterprise customers with hardware to run distributed ledger workloads on their highest-availability platforms. The mission-critical deployment option enables customers to build and operate distributed ledger applications in mission-critical environments while providing high-availability and SQL integration with legacy systems.
The company is also pursuing the use of blockchain in the automotive industry. In a demo, HPE will demonstrate the use of blockchain to track real-time data from cars using the Streamr platform. The company has been actively involved in the development of enterprise blockchain solutions for many years, and launched its own service for enterprises last year. Mission Critical, an HPE blockchain offering, tracks data produced by everything.
In addition to the aforementioned benefits, HPE and Continental have announced their partnership to launch a new platform for the automotive industry. Through this partnership, HPE and Continental will enable auto manufacturers to share and sell data generated by cars. This decentralized architecture will allow multiple ecosystems to interact and monetize data. Furthermore, the platform will comply with the VDA NEVADA Share & Secure concept developed for the automotive industry.
Potential for disrupting existing cloud behemoths
While Amazon is perhaps best known for its e-commerce success, it has also created an entire aerospace company, Blue Origin, to make space travel more accessible to the general public. With such a broad range of technology, Amazon is poised to create disruption for the average consumer as well. While many of the more interesting technologies are being developed for Amazon’s own use, some could disrupt every industry in the process.