Blockchain

“ Blockchain is an open distributed ledger where transactions between two or more parties can be done in a verifiable and permanent fashion that cannot be changed once recorded. ”

Group50 recognizes the importance of the Blockchain for what it is: A disruptive technology that will drive transformational change to the way business is done both internally and externally.  There are many types of Blockchains and multiple technology platforms.  We have created a plug and play permission based Blockchain solution built on an IoT platform that utilizes a “proof of state” consensus model that is driven by smart contracts.  This approach creates a complete chain of custody with full provenance that mimics the natural value add flow in a supply chain which is applicable to a wide range of use cases. While there are hundreds of uses for Blockchain, we are focused on a critical few supply chain use cases:

  1. Food
  2. Aircraft
  3. Automotive
  4. Compliance and Regulatory
  5. Healthcare: Hospitals
  Announcement
Jim Gitney, CEO of Group50 and Shirish Nene, Managing Director of Group50’s Digital Technology Practice have both become members of CompTIA’s Blockchain Advisory Council

We are building a Blockchain solution that utilizes the Hyperledger and is powered by THINaër, a platform for the Internet of people, places and things ( IoE ), adding the ability to collect any type of sensor data related to a product during its life cycle. This enables a full provenance that is available at your fingertips as shown in the following video.

 

Scioebc™, Group50’s plug and play permission based Blockchain gives you the ability to control who has access to critical data through smart contracts.

Blockchain is in its early stages of development, similar to the Internet in the late 1990’s.  We believe that Blockchain will provide a much larger competitive advantage to early adopters who recognize that Blockchain applications can:

  1. Reduce cost
  2. Eliminate intermediaries
  3. Significantly streamline internal and external operations
  4. Centralize documents and reports required for compliance and regulatory reporting
  5. Automate transactions
  6. Provide fraud/counterfeit detection – IP protection
  7. Transform business processes
  8. Create competitive advantage

Blockchain technology is changing and evolving at a frenetic pace.  It will be impossible for people in your organization to stay abreast of those changes.  As a result, it is important that companies follow a specific methodology for education, planning the use case(s), creating a technology roadmap and implementation. Companies interested in taking that journey can take advantage of Group50’s workshops which can be found on our Blockchain and IoT implementation page.  We recommend that the very first step is a customized Blockchain Immersion Workshop where the entire leadership team can get on the page with understanding Blockchain and IoT business applications.

Group50’s expertise in business process design, organizational design and digital technology, coupled with our unique plug and play technology, positions us to be your partner in adopting and managing this transformative technology in a way that is both scalable and sustainable.

Requesting your help: As part of our education efforts, we are doing a Blockchain research project that will provide detailed insight regarding the current state of Blockchain adoption across various industries and companies of all sizes.  People who participate in this research can get a free overview of the results.  You can take the survey here.

You can speak to a Group50 Blockchain adviser by calling (909) 949-9083, send us a note to Blockchain@group50.com or by requesting more information here.

 

Click below to participate in   

Group50’s

Blockchain

STRATEGY

AND

USAGE RESEARCH PROJECT

Group50 is doing critical Blockchain
research in 20+ industries and
companies of all sizes. 
Survey participants receive a
free overview of the results

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