Institucion Chaviano De Mayaguez Blockchain Research Discussion

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Institucion Chaviano de Mayaguez

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policy should include the following:

1)Purpose statement of the business network (i.e. blockchain environment)

a.Describe your business environment (what business are you in?)

b.Describe how blockchain technology makes your application possible and more valuable than existing offerings. 

c.Describe what value your blockchain app providesto your existing and potential customers and partners. 

2)Description of the current (base) network (participants and functionality)(For example, who is part of your network now and what does your application do now? Of course, this is where you get to tell the story of the business idea you created. It doesn’t have to be a real, current business.)

3)Brief description of upcoming features in the next quarterly release. (Be creative, but realistic here. Think about what the existing application does, and what features you’d like to add that would increase the application’s usefulness and value. Analyzing current 

functionality and determining which features would best meet business needs will be a big part of assessing this assignment.)

4)Description of application upgrade process that may impact application availability and member business processes. (i.e. How does the business network organization plan to deploy new software features without causing substantial service interruptions?)

5)List of rights and benefits for participants (how does each member benefit and what data/services are available for each member)

6)Membership requirements for new members (minimum security requirements, approval process, decision making rules and authorities, minimum required agreements that new members must accept and agree to)(Remember that members are business partners, not customers. The focus of the whole semester is enterprise blockchain development, not consumer blockchain solutions.)

7)Description of fees for participation and service access

8)Minimum member resource contributions to the business network

9)Process for ending participation in the business network

10)Process for resolving disputes, including appealing the outcome of a resolved dispute.

11)Course of action to initiate an application for membership

Background content for items 1 and 2 will come from your text. Other items will be a combination of content from your text and extrapolation based on what you've learned this semester. Pay careful attention to #3. That one requires that you carefully consider how enhancing the application can help it better align with member (and prospective member) business goals. The purpose of this project is to digest the material you've learned throughout this semester into a white paper that could be used to recruit potential business network members, as well as provide details of the rights and responsibilities of business network members. Policy document should present a clear and concise description of the benefits of being a business network member, why blockchain technology provides superior benefits to solutions based on other technologies, and the onboarding process and expectations once membership is approved

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Hands-On Blockchain with Hyperledger Building decentralized applications with Hyperledger Fabric and Composer Nitin Gaur Luc Desrosiers Venkatraman Ramakrishna Petr Novotny Dr. Salman A. Baset Anthony O'Dowd BIRMINGHAM - MUMBAI Hands-On Blockchain with Hyperledger Copyright © 2018 Packt Publishing All rights reserved. No part of this book may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, without the prior written permission of the publisher, except in the case of brief quotations embedded in critical articles or reviews. Every effort has been made in the preparation of this book to ensure the accuracy of the information presented. However, the information contained in this book is sold without warranty, either express or implied. Neither the authors, nor Packt Publishing or its dealers and distributors, will be held liable for any damages caused or alleged to have been caused directly or indirectly by this book. Packt Publishing has endeavored to provide trademark information about all of the companies and products mentioned in this book by the appropriate use of capitals. However, Packt Publishing cannot guarantee the accuracy of this information. Commissioning Editor: Sunith shetty Acquisition Editor: Tushar Gupta Content Development Editor: Tejas Limkar Technical Editor: Dharmendra Yadav Copy Editors: Safis Editing Project Coordinator: Manthan Patel Proofreader: Safis Editing Indexer: Priyanka Dhadke Graphics: Tania Dutta Production Coordinator: Deepika Naik First published: June 2018 Production reference: 1190618 Published by Packt Publishing Ltd. Livery Place 35 Livery Street Birmingham B3 2PB, UK. ISBN 978-1-78899-452-1 www.packtpub.com mapt.io Mapt is an online digital library that gives you full access to over 5,000 books and videos, as well as industry leading tools to help you plan your personal development and advance your career. For more information, please visit our website. Why subscribe? Spend less time learning and more time coding with practical eBooks and Videos from over 4,000 industry professionals Improve your learning with Skill Plans built especially for you Get a free eBook or video every month Mapt is fully searchable Copy and paste, print, and bookmark content PacktPub.com Did you know that Packt offers eBook versions of every book published, with PDF and ePub files available? You can upgrade to the eBook version at www.PacktPub.com and as a print book customer, you are entitled to a discount on the eBook copy. Get in touch with us at service@packtpub.com for more details. At www.PacktPub.com, you can also read a collection of free technical articles, sign up for a range of free newsletters, and receive exclusive discounts and offers on Packt books and eBooks. Foreword In my role as the chair of the Hyperledger Technical Steering Committee, I've come to realize the great divide between the enormous hype surrounding blockchain and the depth of understanding of how blockchain technology works, where the technology is on the maturity curve, and how it might be leveraged in the context of the enterprise. Most of the hype relates to the cryptocurrency aspects of public, permission-less blockchain—ICOs as a substitute for more traditional IPOs, and the potential for disrupting traditional systems of banking, insurance, securities, and so on. It is the potential for disruption and the asymmetric profits that disruption might yield that have driven many to explore how blockchain might be used to one company's advantage over the rest of a given domain. However, what many are discovering is that blockchain is a team sport, and for blockchain to be successful in an enterprise, it demands a degree of industry collaboration not seen before. The authors of this book take you beyond the hype. They lay a solid foundation for understanding the state of the technology landscape— including active and incubating projects under development at Hyperledger. They provide you with a framework for choosing the right technology platform, designing your solution, and integration with existing systems. And they explain the various governance models for establishing and operating a blockchain business network. If you are an enterprise architect or developer tasked with developing a blockchain solution for your enterprise or industry, this book is a must-read. Cheers, Christopher Ferris IBM Distinguished Engineer, CTO Open Technology IBM Digital Business Group, Open Technologies Contributors About the authors Nitin Gaur, as the director of IBM's Blockchain Labs, is responsible for instituting a body of knowledge and organizational understanding around blockchain technology and industry-specific applications. Tenacious and customer focused, he is known for his ability to analyze opportunities and create technologies that align with operational needs, catapult profitability, and dramatically improve customer experience. He is also an IBM Distinguished Engineer. Luc Desrosiers is an IBM-certified IT architect with 20+ years of experience. Throughout his career, he has taken on different roles: developer, consultant, and pre-sales architect. He recently moved from Canada to the UK to work in a great lab: IBM Hursley. This is where he had the opportunity to join the IBM Blockchain team. He is now working with clients across multiple industries to help them explore how blockchain technologies can enable transformative uses and solutions. Venkatraman Ramakrishna is an IBM researcher with 10 years of experience. Following a BTech from IIT Kharagpur and PhD from UCLA, he worked in the Bing infrastructure team in Microsoft, building reliable application deployment software. At IBM Research, he worked in mobile computing and security before joining the Blockchain team. He has developed applications for trade and regulation, and is now working on improving the performance and privacy-preserving characteristics of the Hyperledger platform. Petr Novotny is a research scientist at IBM Research, with 15+ years of experience in engineering and research of software systems. He received an MSc from University College London and PhD from Imperial College London, where he was also a post-doctoral research associate. He was a visiting scientist at the U.S. Army Research Lab. At IBM, he works on innovations of blockchain technologies and leads the development of blockchain solutions and analytical tools. Dr. Salman A. Baset is the CTO of security in IBM Blockchain Solutions. He oversees the security and compliance of blockchain solutions being built by IBM in collaboration with partners such as Walmart and Maersk, and interfaces with clients on blockchain solutions and their security. He drives the implementation of the General Data Protection Regulation for blockchain-based solutions. He has also built the identity management system, used by Fortune 500 companies involved in global trade digitization, and IBM Food Trust blockchain solutions. Anthony O'Dowd works in IBM's Blockchain team. He is based in Europe as part of a worldwide team that helps users build solutions that benefit from blockchain tech. Anthony has a background in middle and back office systems, and has led the development of key IBM middleware in enterprise messaging and integration. He likes to work in different industries to understand how they can exploit middleware to build more efficient, integrated business systems. Packt is searching for authors like you If you're interested in becoming an author for Packt, please visit authors.packt pub.com and apply today. We have worked with thousands of developers and tech professionals, just like you, to help them share their insight with the global tech community. You can make a general application, apply for a specific hot topic that we are recruiting an author for, or submit your own idea. Table of Contents Title Page Copyright and Credits Hands-On Blockchain with Hyperledger Packt Upsell Why subscribe? PacktPub.com Foreword Contributors About the authors Packt is searching for authors like you Preface Who this book is for What this book covers To get the most out of this book Download the example code files Conventions used Get in touch Reviews 1. Blockchain - Enterprise and Industry Perspective Defining the terms – what is a blockchain? Four core building blocks of blockchain framworks Additional capabilities to consider Fundamentals of the secure transaction processing protocol Where blockchain technology has been and where it's going The great divide An economic model for blockchain delivery Learning as we go The promise of trust and accountability Industries putting blockchain technology to work Blockchain in the enterprise What applications are a good fit? How does the enterprise view blockchain? Litmus testing to justify the application of blockchain technology Integrating a blockchain infrastructure for the whole enterprise Enterprise design principles Business drivers and evolution Ensuring sustainability The principles that drive blockchain adoption Business considerations for choosing a blockchain framework Technology considerations for choosing a blockchain framework Identity management Scalability Enterprise security Development tooling Crypto-economic models Decentralization with systemic governance Enterprise support Use case-driven pluggability choices Shared ledger technology Consensus Crypto algorithms and encryption technology Use case-driven pluggable choices Enterprise integration and designing for extensibility Other considerations Consensus, ACID property, and CAP CAP ACID Attestation – SSCs are signed and encrypted Use of HSMs Summary 2. Exploring Hyperledger Fabric Building on the foundations of open computing Fundamentals of the Hyperledger project The Linux Foundation  Hyperledger Open source and open standards Hyperledger frameworks, tools, and building blocks Hyperledger frameworks Hyperledger tools The building blocks of blockchain solutions Hyperledger Fabric component design Principles of Hyperledger design CAP Theorem Hyperledger Fabric reference architecture Hyperledger Fabric runtime architecture Strengths and advantages of componentized design Hyperledger Fabric – the journey of a sample transaction Hyperledger Fabric explored Components in a blockchain network Developer interaction Understanding governance in business networks powered by blockchain Governance structure and landscape Information technology governance Blockchain network governance Business network governance Summary 3. Setting the Stage with a Business Scenario Trading and letter of credit The importance of trust in facilitating trade The letter of credit process today Business scenario and use case Overview Real-world processes Simplified and modified processes Terms used in trade finance and logistics Shared process workflow Shared assets and data Participants' roles and capabilities Benefits of blockchain applications over current real-world processe s Setting up the development environment Designing a network Installing prerequisites Forking and cloning the trade-finance-logistics repository Creating and running a network configuration  Preparing the network Generating network cryptographic material Generating channel artifacts Generating the configuration in one operation Composing a sample trade network Network components' configuration files Launching a sample trade network Summary 4. Designing a Data and Transaction Model with Golang Starting the chaincode development Compiling and running chaincode Installing and instantiating chaincode Invoking chaincode Creating a chaincode The chaincode interface Setting up the chaincode file The Invoke method Access control ABAC Registering a user Enrolling a user Retrieving user identities and attributes in chaincode Implementing chaincode functions Defining chaincode assets Coding chaincode functions Creating an asset Reading and modifying an asset Main function Testing chaincode SHIM mocking Testing the Init method Testing the Invoke method Running tests Chaincode design topics Composite keys Range queries State queries and CouchDB Indexes ReadSet and WriteSet Multiversion concurrency control Logging output Configuration Logging API SHIM logging levels Stdout and stderr Additional SHIM API functions Summary 5. Exposing Network Assets and Transactions Building a complete application The nature of a Hyperledger Fabric application Application and transaction stages Application model and architecture Building the application Middleware – wrapping and driving the chaincode Installation of tools and dependencies Prerequisites for creating and running the middleware Installation of dependencies Creating and running the middleware Network configuration Endorsement policy User records Client registration and enrollment Creating a channel Joining a channel Installation of chaincode Instantiation of chaincode Invoking the chaincode Querying the chaincode Completing the loop – subscribing to blockcha in events Putting it all together User application – exporting the service and API Applications User and session management Designing an API Creating and launching a service User and session management Network administration Exercising the application User/client interaction modes Testing the Middleware and Application Integration with existing systems and processes Design considerations Decentralization Process alignment Message affinity Service discovery Identity mapping Integration design pattern Enterprise system integration Integrating with an existing system of record Integrating with an operational data store Microservice and event-driven architecture Considering reliability, availability, and serviceability Reliability Availability Serviceability Summary 6. Business Networks A busy world of purposeful activity Why a language for business networks? Defining business networks A deeper idea Introducing participants Types of participant Individual participants Organizational participants System or device participants Participants are agents Participants and identity Introducing assets Assets flow between participants Tangible and intangible assets The structure of assets Ownership is a special relationship Asset life cycles Describing asset's life cycles in detail with transactions Introducing transactions Change as a fundamental concept Transaction definition and instance Implicit and explicit transactions The importance of contracts Signatures Smart contracts for multi-party transaction processing Digital transaction processing Initiating transactions Transaction history Transaction streams Separating transactions into different business networks Transaction history and asset states A business network as a history of transactions Regulators and business networks Discussing events from the perspective of designing a business network us ing Composer A universal concept Messages carry event notifications An example to illustrate event structure Events and transactions External versus explicit events Events cause participants to act Loosely coupled design The utility of events Implementing a business network The importance of de-materialization Blockchain benefits for B2B and EDI Participants that interact with the blockchain Accessing the business network with APIs A 3-tier systems architecture Hyperledger Fabric and Hyperledger Composer Summary 7. A Business Network Example The letter of credit sample Installing the sample Running the sample Step 1 – preparing to request a letter of cre dit Step 2 – requesting a letter of credit Step 3 – importing bank approval Step 4 – exporting bank approval Step 5 – letter received by exporter Step 6 – shipment Step 7 – goods received Step 8 – payment Step 9 – closing the letter Step 10 – Bob receives payment Recapping the process Analyzing the letter of credit process The Playground Viewing the business network A description of the business network The participant descriptions The asset descriptions The transaction descriptions The event descriptions A model of the business network Namespaces Enumerations Asset definitions Participant definitions Concept definitions Transaction definitions Event definitions Examining the live network Examining a letter of credit instance Examining participant instances Examining transaction instances Submitting a new transaction to the network Understanding how transactions are implemented Creating business network APIs SWAGGER API definitions Querying the network using SWAGGER Testing the network from the command line Creating a new letter using SWAGGER Network cards and wallets Access-control lists Summary 8. Agility in a Blockchain Network Defining the promotion process Smart contract considerations Integration layer considerations Promotion process overview Configuring a continuous integration pipeline Customizing the pipeline process Local build Configuring Travis CI Customizing the pipeline using .travis.yml Publishing our smart contract package Configuring your Git repository Setting the code owners of our smart contract Sample content of the CODEOWNERS Protecting the master branch Configuring Git for commit signing and validation Configuring GPG on your local workstation Testing the end-to-end process Creating a new transaction Pushing a commit to the master branch directly Submitting a pull request with an unsigned commit Adding test cases Submitting a pull request with a signed commit Adding the mergeAssets unit test Releasing the new version Updating the network Notifying the consortium Upgrading the business network Downloading a new version Updating the business network Summary 9. Life in a Blockchain Network Modifying or upgrading a Hyperledger Fabric application Fabric blockchain and application life cycle Channel configuration updates Prerequisites for adding a new organization to the network Generating network cryptographic material Generating channel artifacts Generating the configuration and network components in one ope ration Launching the network components for the new organization Updating the channel configuration Adding the new organization to the network Smart contract and policy updates Modification in chaincode logic Dependency upgrades in chaincode Ledger resetting Endorsement policy update Upgrading chaincode and endorsement policy on the trade channe l Platform upgrades System monitoring and performance Measurement and analytics What should we measure or understand in a Fabric application Blockchain applications vis-à-vis traditional transaction processing applications Metrics for performance analysis Measurement and data collection in a Fabric application Collecting health and capacity information Profiling containers and applications Measuring application performance Fabric engineering guidelines for performance Platform performance characteristics System bottlenecks Configuration and tuning Ledger data availability and caching Redundant committing peer Data caching Fabric performance measurement and benchmarking Summary 10. Governance, Necessary Evil of Regulated Industries Decentralization and governance Exploring the business models Blockchain benefits Supply chain management Healthcare Finance – letter of credit From benefits to profits Network business model Founder-led network Consortium-based network Community-based network Hybrid models Joint venture New corporation Role of governance in a business network Business domains and processes Membership life cycle Funding and fees Regulation Education Service life cycle Disputes Governance structure Centralized governance Strategic governance Operational governance Tactical governance Decentralized governance Governance and the IT solution Managed on-boarding Summary 11. Hyperledger Fabric Security Hyperledger Fabric design goals impacting security Hyperledger Fabric architecture  Fabric CA or membership service provider Peer Smart contract or chaincode Ledger Private data Ordering service Network bootstrap and governance – the first step towards security Creating the network Adding new members Deploying and updating chaincode  Data model Strong identities – the key to the security of the Hyperledge r Fabric network Bootstrapping Fabric CA Register Default Fabric roles  Enroll Which crypto protocols are allowed in certificate signing requests? Revoking identities  Practical considerations in managing users in Fabric CA Chaincode security How is chaincode shared with other endorsing peers? Who can install chaincode? Chaincode encryption Attribute-based access control Pros and cons of attribute-based access control Common threats and how Hyperledger Fabric mitigates them  Transaction privacy in Hyperledger Fabric Channels Private data Encrypting transaction data Hyperledger Fabric and Quantum Computing General data protection regulation (GDPR) considerations Summary 12. The Future of Blockchain and the Challenges Ahead Summary of key Hyperledger projects Hyperledger framework – business blockchain technology Hyperledger tools Hyperledger Composer The road ahead for Blockchain Addressing the divide – the enterprise blockchain and crypto asset-driven ecosystem Interoperability – understanding business service integration Scalability and economic viability of the blockchain solution  Staying engaged with the Hyperledger blockchain  Summary Other Books You May Enjoy Leave a review - let other readers know what you think Preface We would like to thank our readers in taking time to consume our collective body of work that is representative of our practice, experience, and knowledge gained along the way. This book was motivated by the desire that we and others have had to contribute to the evolution of blockchain technologies. We were also challenged by a lack of a comprehensive guide that addresses myriad considerations, including but not limited to technology design choices, architecture choice, business consideration, and governance models. The authors of this book represent a unique and diverse set of skills, which should be evident in addressing the depth of the content with ease and simplicity. We have collectively focused on organization and flow to ensure not only an easy-to-follow and natural flow but also topical modularity. The contents of this book are aimed to address a diverse audience, from business leaders to blockchain developers and anyone who would like to learn from practitioners' experience expressed in this book. We believe that not only will the audience enjoy and benefit personally and professionally from the book, but also this book will be used as reference material, a handbook of sorts, and aid in making informed design decisions. We encountered various challenges while writing this book, including our own demanding schedule, but ensured that we deliver up-to date information at the time of release of this content. Blockchain technology landscape is in flux and keeping up with evolution and innovation is a challenge. We have attempted to distill a model that will benefit the reader to create a framework to methodically consume blockchain-related update and build upon the foundation laid out in this book. We have also expended a lot of energy in addressing business design and resulting technology design choices, because unlike other pure technology platforms Blockchain (powered business network), is a very business-specific and technologycentric discipline. We hope the findings and documented considerations from practitioners will arm business leaders and technology managers in making informed decisions and minimizing the failures experienced by the authors. The technical content covered in this book, aims to provide a solid foundation to a diverse set of skills, including IT professionals, blockchain novices, and advanced blockchain developers. Modeled after a real-world use case, the application development story weaves in various steps from infrastructure creation to Dev-Ops models and model-driven development, covering various enterprise technology management challenges with a focus on the blockchain network-centric impact of application deployment. We have provided a framework for security and performance design, which we hope the technical audience find particularly helpful and establish a solid foundation as a technology design consideration. We'll conclude the book with a pragmatic view of various challenges and related opportunities, and call for the community of readers to rise up to the challenges and reap the rewards of the resulting opportunities. While this book focuses on and targets Hyperledger projects, we expect the core topics covered in this book to be universally applicable to the blockchain technology discipline. We sincerely hope that our effort in time and acumen is well received by our readers and arm them with a strong foundation to make impactful contributions to progressing the blockchain innovation agenda. Who this book is for The book benefits business leaders as it provides a comprehensive view on blockchain business models, governance structure, and business design considerations of blockchain solutions. Technology leaders stand to gain a lot from the detailed discussion around the technology landscape, technology design, and architecture considerations in the book. With modeldriven application development, this guide will speed up understanding and concept development for blockchain application developers. The simple and well organized content will put novices at ease with blockchain concepts and constructs. What this book covers , Blockchain - Enterprise and Industry Perspective, you've heard about blockchain and you are wondering, What is all the fuss about? In this chapter, we explore why blockchain is a game changer, what innovation it brings, and what the technology landscape is. Chapter 1 , Exploring Hyperledger Fabric, with an understanding of the blockchain landscape, we turn our attention to Hyperledger Fabric. The aim of this chapter is to walk you through the deployment of each component of Hyperledger Fabric while unveiling/building the architecture. Chapter 2 , Setting the Stage with a Business Scenario, describes a business use case and then focuses on understanding the process of creating a good business network using blockchain from requirements to design. Chapter 3 , Designing a Data and Transaction Model with Golang, aims to define what makes up a smart contract in Hyperledger Fabric. It will also introduce you to some terms regarding smart contracts and get you to experience the development of a chaincode using the Go language. Chapter 4 , Exposing Network Assets and Transactions, leveraging the smart contract written in the previous chapter, this chapter looks at the required integration of application to the network. It takes the readers through the process of configuring a channel, and installing and invoking chaincode, from a client application and considers the various integration patterns that might be used. Chapter 5 , Business Networks, has an objective to introduce and uncover the skills and tools needed to model a business network. Working at a higher level of abstraction, the foundation, tools, and framework will provide the reader with a way to quickly model, design, and deploy a complete end-toend business network. Chapter 6 , A Business Network Example, putting the concepts of Chapter 6 into practice, this chapter walks through the steps to deploy a full business network from end user application to smart contracts. Chapter 7 , Agility in a Blockchain Network, focuses on the aspects required to maintain agility in a blockchain network. Applying DevOps concepts, the reader is presented with a continuous integration / continuous delivery pipeline. Chapter 8 , Life in a Blockchain Network, aims to raise the reader's awareness on the key activities and challenges that organizations and consortium may face when adopting a distributed ledger solution, ranging from management of application changes to maintenance of adequate performance levels. A successful network deployment will hopefully see many organizations join it and the number of transactions increase. Chapter 9 , Governance –The Necessary Evil of Regulated Industries, governance is a necessary evil for regulated industries, but governance is not required only for business network that deal with use cases for regulated industries. It is also a good practice to ensure longevity and scalability of a business network. This chapter explores vital considerations for production readiness for any founder-led blockchain network. Chapter 10 , Hyperledger Fabric Security, lays the foundation for security design of blockchain networks. Various security constructs are discussed and Hyperledger Fabric security is explained in detail. An essential chapter to understand security design considerations. Chapter 11 , The Future of Blockchain and the Challenges Ahead, looks ahead and discusses the challenges and opportunities that lie ahead. Through the use of open technologies, it invites readers to engage in and promote the blockchain innovation agenda. Chapter 12 To get the most out of this book 1. We've focused on organization and flow. The content is made to ensure not only an easy-to-follow and natural flow but also topical modularity. 2. Each chapter explores a facet of blockchain. While Hyperledger projects are specifically discussed, the core areas of focus are universal to blockchain technology discipline. 3. Explore the summary and tips in each chapter to get an essence of topics covered. 4. There are chapters that provide general blockchain business and technology landscape discussions, and there are chapters that go into specific technical how-to. Both are important topics to broaden your knowledge base. Download the example code files You can download the example code files for this book from your account at www.packtpub.com. If you purchased this book elsewhere, you can visit www.pac ktpub.com/support and register to have the files emailed directly to you. You can download the code files by following these steps: 1. Log in or register at www.packtpub.com. 2. Select the SUPPORT tab. 3. Click on Code Downloads & Errata. 4. Enter the name of the book in the Search box and follow the onscreen instructions. Once the file is downloaded, please make sure that you unzip or extract the folder using the latest version of: WinRAR/7-Zip for Windows Zipeg/iZip/UnRarX for Mac 7-Zip/PeaZip for Linux The code bundle for the book is also hosted on GitHub at https://github.com/P acktPublishing/Handson-Blockchain-Development-with-Hyperledger. We also have other code bundles from our rich catalog of books and videos available at https:// github.com/PacktPublishing/. Check them out! Conventions used There are a number of text conventions used throughout this book. : Indicates code words in text, database table names, folder names, filenames, file extensions, path names, dummy URLs, user input, and Twitter handles. Here is an example: "The orderer belongs to its own organization called TradeOrdererOrg." CodeInText A block of code is set as follows: - &ExporterOrg Name: ExporterOrgMSP ID: ExporterOrgMSP MSPDir: crypto-config/peerOrganizations/exporterorg.trade.com/msp AnchorPeers: - Host: peer0.exporterorg.trade.com Port: 7051 Any command-line input or output is written as follows: CONTAINER ID IMAGE COMMAND CREATED STATUS PORTS NAMES 4e636f0054fc hyperledger/fabric-peer:latest "peer node start" 3 minutes ago Up 3 minutes 0.0.0.0:9051->7051/tcp, 0.0.0.0:9053->7053/tcp peer0.carrierorg.trade.com 28c18b76dbe8 hyperledger/fabric-peer:latest "peer node start" 3 minutes ago Up 3 minutes 0.0.0.0:8051->7051/tcp, 0.0.0.0:8053->7053/tcp peer0.importerorg.trade.com 9308ad203362 hyperledger/fabric-ca:latest "sh -c 'fabric-ca-se..." 3 minutes ago Up 3 minutes 0.0.0.0:7054->7054/tcp ca_peerExporterOrg Bold: Indicates a new term, an important word, or words that you see onscreen. For example, words in menus or dialog boxes appear in the text like this. Here is an example: "You can apply for a letter of credit by clicking on the Apply button." Warnings or important notes appear like this. Tips and tricks appear like this. Get in touch Feedback from our readers is always welcome. General feedback: Email feedback@packtpub.com and mention the book title in the subject of your message. If you have questions about any aspect of this book, please email us at questions@packtpub.com. Errata: Although we have taken every care to ensure the accuracy of our content, mistakes do happen. If you have found a mistake in this book, we would be grateful if you would report this to us. Please visit www.packtpub.com/ submit-errata, selecting your book, clicking on the Errata Submission Form link, and entering the details. Piracy: If you come across any illegal copies of our works in any form on the Internet, we would be grateful if you would provide us with the location address or website name. Please contact us at copyright@packtpub.com with a link to the material. If you are interested in becoming an author: If there is a topic that you have expertise in and you are interested in either writing or contributing to a book, please visit authors.packtpub.com. Reviews Please leave a review. Once you have read and used this book, why not leave a review on the site that you purchased it from? Potential readers can then see and use your unbiased opinion to make purchase decisions, we at Packt can understand what you think about our products, and our authors can see your feedback on their book. Thank you! For more information about Packt, please visit packtpub.com. Blockchain - Enterprise and Industry Perspective Blockchain promises to fundamentally solve the issues of time and trust to address inefficiencies and costs in industries such as financial services, supply chains, logistics, and healthcare. Blockchain's key features include immutability and a shared ledger where transactional updates are performed by a consensus-driven trust system, which can facilitate a truly digital interaction between multiple parties. This digital interaction is not only bound by systemic trust, but ensures that the provenance of the transactional record maintains an immutable track record of interaction between parties. This very characteristic lends itself to culpability and non-repudiation, and incentivizes fair play. With the blockchain system design, we are attempting to build a system that has implied trust. This trust system leads to reduced risks, and various applied technology constructs such as a cryptography, encryption, smart contracts, and consensus essentially create gates to not only reduce risk but to also infuse added security into the transaction system. We will be covering the following aspects of blockchain in our discussion for this chapter: Defining a blockchain Building blocks of blockchain solutions Fundamentals of the secure transaction processing protocol Applications of blockchain Blockchain in an enterprise Enterprise design principles Business considerations for choosing a blockchain framework Considerations for choosing a blockchain framework Defining the terms – what is a blockchain? At a technical level, a blockchain can be defined as an immutable ledger for recording transactions, maintained within a distributed network of mutually untrusting peers. Every peer maintains a copy of the ledger. The peers execute a consensus protocol to validate transactions, group them into blocks, and build a hash chain over the blocks. This process forms the ledger by ordering the transactions as is necessary for consistency. Blockchains have emerged with bitcoin (http:// bitcoin.org/) and are widely regarded as a promising technology to run trusted exchanges in the digital world. A blockchain supporting a cryptocurrency is public, or permissionless, in the sense that anyone can participate without a specific identity. Such blockchains typically use a consensus protocol based on proof of work (PoW) and economic incentives. In contrast, permissioned blockchains have evolved as an alternative way to run a blockchain between a group of known, identified participants. A permissioned blockchain provides a way to secure interactions between a group of entities who share a mutual goal but don't fully trust each other, such as businesses that exchange funds, goods, or information. A permissioned blockchain relies on the identities of its peers, and in so doing can use the traditional Byzantine-fault tolerant (BFT) consensus. BFT is a protocol that has been widely used in IT solutions to reach a consensus on the state of faulty nodes of a network. This protocol is based on the Byzantine General's Problem, whereby a group of general need to reach a consensus on their strategy but one of them maybe treacherous. Blockchains may execute arbitrary, programmable transaction logic in the form of smart contracts, as exemplified by Ethereum (http://ethereum.org/). The scripts in bitcoin were predecessors of this concept. A smart contract functions as a trusted, distributed application and gains its security from the blockchain and underlying consensus among its peers. Discerning permissions from a permissionless blockchain is vital for enterprises looking to utilize the blockchain platform. The use case dictates the choice of technology, which depends on consensus systems, governance models, data structure, and so on. With permissioned blockchains, we can do some of the things we already do but in an incrementally better way, which can be significant. In the chart that follows, you can see how a consortium of banks could use Hyperledger, a type of permissioned blockchain, for clearing and settlement without relying on a central clearing house: Clearing house have been created because banks do not fully trust each other and thus as the intermediary between trades, reduces the risk the one party does not honor his terms leads to a never-ending debate around permissioned versus permissionless blockchains, and while this chapter will not address the debate, blockchain can present a way to either transform or disrupt the current business and business models. Most use cases in regulated industries embark on permissioned blockchain models. This is due to regulatory requirements and the economic viability of transaction processing, and while permissionless blockchains provide a platform for new business models such as Peer-to-Peer (P2P) transactions and disintermediation-led models, by definition permissionless blockchain architecture relies on a very compute-intensive compute model to ensure transactional integrity. Regardless of the choice in blockchain models, blockchain provides a lot of possibilities for transformation and disruption. Blockchain has extraordinary potential as a technology platform. In the enterprise, blockchain can provide: A design approach that keeps transaction data, value, and state inherently close to the business logic Secure execution of business transactions, validated through a community, in a secure process that facilities the trust and robust transaction processing that are foundational to blockchain An alternative, permissioned technology that conforms to existing regulations Blockchain promises to solve longstanding industry concerns—and this is where its potential can really be seen, with issues such as modernizing financial and trade systems, and speeding up securities and trade settlements. Four core building blocks of blockchain framworks Blockchain frameworks typically include the following four building blocks: A shared ledger: The shared ledger appends only the distributed transaction record. Bitcoin blockchain was designed with the intent to democratize visibility; however, with blockchain, consumer data regulations also need to be considered. Using a properly configured SQL or noSQL distributed database can achieve immutability, or append-only semantics. Cryptography: Cryptography in a blockchain ensures authentication and verifiable transactions. Blockchain design includes this imperative because of the focus on assuming computational hardness and making encryption harder for an adversary to break. This is an interesting challenge with bitcoin blockchain because of the economic incentive and its system design. When you're working in a less democratic or permissioned business ledger network, considerations around cryptography change. Trust systems or consensus: Trust systems refer to using the power of the network to verify transactions. Trust systems are central to blockchain systems in my view; they are at the heart of blockchain applications, and we believe trust system is the preferred term over consensus system since not all validation is done through consensus. This foundational element of trust dictates the overall design and investment in a blockchain infrastructure. With every new entrant in the blockchain space, the trust system is modified, forming variations that are specialized for specific blockchain use cases. Trust, trade, and ownership are staples of blockchain technology. For inter-company transactions, the trust system governs transactions for trade between participating companies. Much work still needs to be done to define the best trust system for specific use cases, such as P2P and sharing economy models with B2B models. Business rules or smart contracts: Smart contracts are the business terms that are embedded in a blockchain transaction database and executed with transactions. This is also the rules component of a blockchain solution. It is needed to define the flow of value and state of each transaction. The following use diagram gives a good idea of these concepts: The four building blocks are generally accepted and well understood. They have existed for decades prior to blockchain. Shared ledgers are an evolutionary change, similar to the move to computer-based spreadsheets, but the underlying business rules have stayed the same. Additional capabilities to consider What else should be included in enterprise blockchain proposals? Here is a non-exhaustive list of other capabilities to consider: Auditing and logging: Including auditing and logging in a blockchain solution can help with addressing regulations for the purposes of nonrepudiation, technology root cause analysis, fraud analysis, and other enterprise needs. Enterprise integration: It's also worth considering how the solution will be integrated into the enterprise: Integration with the incumbent Systems of Record (SoR): The goal here is to ensure that the blockchain solution supports your existing systems such as CRM, business intelligence, reporting and analytics, and so forth Integration as a transaction processing system: If you want to preserve the system of record as an interim approach to adopting blockchain, integrating it as a transaction processing system makes sense Design with the intent to include blockchain: The path of least disruption to your existing systems will accelerate enterprise adoption of blockchain Monitoring: Monitoring is an important capability for addressing regulations and ensuring high availability, capacity planning, pattern recognition, and fault identification. Reporting and regulatory requirements: Being prepared to address regulatory issues is also very important, even for interim adoption of a blockchain as a transaction processing system. It's recommended that you make connectors to your existing SoR to offload reporting and regulatory requirements until blockchain is enterprise-aware, or the enterprise software is blockchain-aware. Enterprise authentication, authorization, and accounting requirements: In a permissioned enterprise world (unlike permissionless bitcoin blockchains), all blockchain network participants should be identified and tracked. Their roles need to be defined if they are to play a part in the ecosystem. Fundamentals of the secure transaction processing protocol We mentioned previously that cryptography is one of the core building blocks of a blockchain solution. The fundamental security of the bitcoin blockchain is the elegant cryptographical linkage of all major components of the ledger. Specifically, transactions are linked to each other, mainly through the Merkle tree. A Merkle tree is based on the concept of a tree data structure where every leaf node has a hash calculated of its data and where the non-leaf node have a hash of all of their underlying child. This method provides a way to ensure the integrity of the data, but also provides privacy characteristics by allowing one to remove a leaf that is deemed private but leave the hash, thereby preserving the integrity of the tree. The Merkle tree has its roots incorporated into the block header. The block header includes a reference to the block headers that precede it. That cryptographically enforced interconnectivity fosters the stability and security of distributed ledgers. At any point, if a link between any of the components is broken, it leaves them exposed to malicious attacks: Transactions are also cryptographically connected to the rest of the blockchain structure, mainly through the Merkle tree. Once a transaction is modified within a block, with all other parts remaining stable, the link between all transactions of the block and its header are broken: The new resulting Merkle tree root does not match the one already in the block header, hence providing no connectivity to the rest of the blockchain. If we proceed to change the Merkle tree root in the block's header, we will in turn break the chain of headers and thus the security model of the blockchain itself. Therefore, if we only change the contents of a block, the rest of the blockchain components remain stable and secure, especially as the block headers provide the connecting links by including a hash of the previous block header in the header of the next block. Where blockchain technology has been and where it's going Blockchain has already been a business disruptor, and I expect it to significantly transform industries, the government, and our lives in the near future. The great divide A significant divided exists between the cryptocurrency and Initial Coin Offering (ICO) world, and the world of regulated business. The latter consists of banks and financial institutions working collectively to assess market potential and operational efficiencies. Both sides of this division have taken advantage of the momentum around blockchain to further their interests. The blockchain ecosystem has challenged the status quo and defied all odds to make a point—often behaving like an adolescent. It is driven by new business models, promises of disintermediation, and interesting technological innovations. As blockchain gains momentum, the value of bitcoin and other cryptoassets is seeing a meteoric rise, and now that ICO has emerged, it has defied the traditional regulatory framework around fundraising. On the enterprise side, there are a growing number of industry initiatives around clearing and settlement to enable faster settlement and interbank transfers, transparency through digitization, symmetric dissemination of information in supply chains, and creating adhoc trust between Internet of Things (IoT) devices. There's a common theme here—that blockchain is here to stay. As it continues to evolve and generate innovative solutions for industry use cases, it will keep inching towards maturity and deliver on its promises of efficiency and significant cost savings built on the foundation of trust. An economic model for blockchain delivery Business networks, underpinned by blockchain technology, may bring transformation or disruption to industries, but in any case, in order to thrive, blockchain needs an economic model. If disruption is the aim, investments in technology, talent, and market synergy can be combined with the lure of economic incentives. ICOs, for example, typically rely on tokenomics, a term that describes the economic system of value generation in those networks. The token is the unit of value created by the system or network, either through making a platform for providers or consumers, or through co-creating a self-governing value network in its business model that various entities can use to their advantage for creating, distributing, and sharing rewards that benefit all stakeholders. The ICO front, largely funded by cryptocurrencies, has defied current fundraising mechanisms in venture capitalism (led by crowdfunding projects), and, importantly, the struggle to discern the difference between a security and utility coin is disruptive in principle. ICOs are looking to create an economic system built on the principles of decentralization, open governance (or self-governance), and transparency, a system that rewards innovation and eradicates disintermediation. ICOs saw some initial failures and some successes, but they nevertheless provided a preview of the future, where cryptoassets will become a basic unit of value—with valuation and fungibility defined by the network they originate from—fueling an economy built for and around innovation. On the enterprise front, there's been more focus on understanding the technology and reimagining ecosystems, business networks, regulations, confidentiality and privacy, and the business models that impact blockchain networks in various industries. Enterprises looking to explore blockchain want to see quick proof points, use cases that can demonstrate results quickly and help them innovate with blockchain. Blockchain is helping industries move to a more symmetric dissemination of information by providing built-in control of transactional data, provenance, and historical context. This can lead to more efficient workflows and transformed business processes. Many early projects, however, didn't focus on the core tenets of blockchain, leading to disintermediation, decentralization, and robust self-governance models. There's a good reason for it, though: industries and conventional businesses tend to be focused on their current business agenda, models, growth, and preceding all, regulatory compliance and adherence. This emphasis on current business operations means they're not naturally inclined towards disruptive models. Learning as we go With any new technology, there is always a learning curve. As blockchain evolved and we began to work with regulated industries, we quickly recognized that in such industries, there are important design considerations to address, things such as confidentiality, privacy, scalability, and performance. These elements can have significant cost implications when it comes to designing blockchain networks, as well as the business models that govern these networks. These challenges have not only been interesting to solve; they've had a positive effect on conventional, regulated industries and businesses by re-energizing innovation in these organizations and inviting the best talent to join in tackling these challenges. Businesses are seeing that ecosystems and networks driven by blockchain technology will contribute to progress and success. Permissioned networks (regulated, conventional, and enterprise business networks) may also need to begin uncovering an incentive model to motivate organizations to join a platform that promotes the idea of creation, distribution, and sharing of rewards, benefiting all stakeholders. The economic incentives behind tokenomics can't be blindly adopted by a lot of conventional businesses and industries, but that doesn't mean those industries shouldn't start the journey of exploring possible business models that will enable value creation and elevate some desperately needed modernization efforts. The promise of trust and accountability Blockchain technology promises to be the foundation for a secure transaction network that can induce trust and security in many industries that are plagued with systemic issues around trust and accountability. From a technology point of view, blockchain facilitates a system of processing and recording transactions that is secure, transparent, auditable, efficient, and immutable. These technology characteristics lend themselves to addressing the time and trust issues that current-day distributed transaction systems are plagued with. Blockchain fundamentally shifts the multi-tier model to a flat-tier transaction processing model. This carries the promise to fundamentally disrupt industries by disintermediation, by inducing efficacy in new system design or simply by creating new business models. Disintermediation indicates reducing the use of intermediaries between producers and consumers, such as by investing directly in the securities market rather than going through a bank. In the financial industry, every transaction has historically required a counter party to process the transaction. Disintermediation involves removing the middleman, which by definition disrupts the business models and incentive economies that are based on mediation. There's been a wave of disruption in recent years as a result of digital technologies, which have, in turn, been driven by marketing insights and the desire for organizations to provide a richer user experience. Blockchain is a technology that aims to catapult this disruption by introducing trade, trust, and ownership into the equation. The technology pattern represented by blockchain databases and records has the potential to radically improve banking, supply chains, and other transaction networks, providing new opportunities for innovation and growth while reducing cost and risk. Industries putting blockchain technology to work Let's briefly look into blockchain use cases: Blockchain in the enterprise Now that we've looked at where blockchain is emerging in various industries, let's talk about what principles should guide the use of blockchains in an enterprise. Why would an enterprise want to apply blockchain technology to one of its systems or applications? What applications are a good fit? Organizations will need to establish criteria for use during the application design process to help them assess where they can best apply blockchain technology. The following are some examples of criteria that could help an enterprise determine which applications or systems would benefit from it: Applications that adhere to trade, trust, and ownership: As described previously, these three tenets—trade, trust and ownership— are fundamental to any blockchain system. Trade and ownership imply the churn and the transfer of ledger entries, while trust points to the trustless nature of a transaction system. Applications that are fundamentally transactional in nature: There is often a debate about why we can't achieve the benefits of blockchain from a distributed database, that is, a no-SQL or a relational database. But a multi-party transaction is what makes an application suitable for blockchain. There needs to be long-running processes with numerous micro-transactions that will be verified and validated by the blockchain-powered transaction system. However, databases can still be used for persistence or replication to fit enterprise systems. Other considerations include small data set sizes that could increase over time, logging overhead, and so on. Business networks that are comprised of non-monopolistic participants: This third criteria addresses distributed versus decentralized computation models. Blockchain trust systems can work within any model; however, the trust aspect of a blockchain business network comes from multi-party participants with non-monopolistic participation (the consortium permissioned network model). Oligopolistic participation might be acceptable (the private permissioned network model), but it's essential to devise a trust model that assures the prevention of centralized control, even with rational behavior of the participants. Many internal use cases do not adhere to this principle and are more for distributed application models. For enterprises trying to either understand or determine where to employ blockchain meaningfully, there's a simple approach to thinking through use case selection. An appropriate use case for a sustainable blockchain solution will achieve long-term business objectives and provide a strong return on technology investment. This starts with an enterprise problem—an issue big enough for the enterprise to expend resources/time—and the recognition of cohorts that have the same problem. When companies realize that an enterprise problem is also an industry problem (such as security lending, collateral lending, and so on), they've found a use case where the promise of blockchain has the most potential. While organizations are determining the benefits of various aspects of blockchain for their enterprise applications, they also need to recognize the fragmentation of the whole blockchain landscape. There are numerous innovative approaches available for solving a specific challenge with blockchain. A lot of vendors offer variants of the trust system that are specialized to address particular use cases, and they've defined the use cases that will benefit most from blockchain in a given industry, for example. Such specialized vendors often promise a fast solution to meet consumer demands for quick digital interactions. The tenets of blockchain can be instrumental in delivering rapid consumerdriven outcomes such as decentralized, distributed, global, permanent, code-based, programmable assets, and records of transactions. We should exercise caution with regards to thinking of blockchain as a hammer to solve every enterprise application challenge, but it can be of use in many transactional applications. Now, let's discuss how blockchain is perceived in the enterprise and some of the challenges that arise with enterprise adoption of the technology. In the following section, I'll focus on three areas that help set the tone for blockchain in an enterprise context. How does the enterprise view blockchain? Radical openness is an aspect of blockchain as a digital trust web, but in an enterprise, it's vital to consider the impact and implications of radical openness. A public blockchain can operate with extreme simplicity, supporting a highly distributed master list of all transactions, which is validated through a trust system supported by anonymous consensus. But can enterprises directly apply the model of the trustless system without modifying the fundamental tenets of blockchain? Do organizations view this disruptive technology as a path to their transformation or merely a vehicle to help them improve their existing processes to take advantage of the efficiencies that the trust system promises? No matter what, enterprises will want the adoption of blockchain to be as minimally disruptive to the incumbent system as it can be, and that won't be easy to achieve! After all, the design inefficiencies of the incumbent system are what have compelled the enterprise to consider this paradigm shift. A lot of the concepts and use cases for blockchain are still distant from enterprise consumption. The first industry to experiment with and adopt blockchain was the financial services sector, as it has been facing down the fear of being disrupted by another wave of start-ups. Like many industries, it is also driven by consumer demands for faster, lower-cost transactions. Financial services has a well-defined set of use cases including trade financing, trade platform, payment and remittance, smart contracts, crowd funding, data management and analytics, marketplace lending, and blockchain technology infrastructure. The uses for blockchain we've seen in this industry will likely permeate to other industries such as healthcare, retail, and the government in the future. The blockchain is a nascent technology that brings together a lot of good ideas, but it still has some maturing to do for enterprise use. The lack of defined standards to promote interoperability between multi-domain chains could be a challenge. Enterprises that adopt it will therefore need to build competency so that they can contribute to further innovation and help with necessary blockchain standards development. This, in turn, could help bring unique opportunities to both improve existing business practices and develop new business models built in a blockchainpowered trust web: Litmus testing to justify the application of blockchain technology Fundamentally, blockchain addresses three aspects of the transaction economy: Trade Ownership Trust The notable technology elements of blockchain are: Technology behind the trust system: Consensus, mining, and the public ledger Secret communication on open networks: Cryptography and encryption Non-repudiation systems: Visibility to stacks of processes While the implications of blockchain technology may be profound, organizations should devise a set of enterprise-specific criteria that can be applied to existing or new projects that may gravitate towards enterprise blockchains. Given the versatility of blockchain technology and the current hype curve, enterprises should use a chain decision matrix as a tool to ensure that they have a structured approach to apply a foundational technology to a business domain. This approach will also lend itself to a consistent blockchain infrastructure and trust system management, which will prove vital as many application-driven chains evolve and the demand for enterprise visibility, management, and control grow. Integrating a blockchain infrastructure for the whole enterprise Any enterprise adoption of blockchain should have the goal of disrupting incumbent systems. Thinking about integration with enterprise systems of record is one way to work towards this. In this manner, an enterprise can implement blockchain-driven transaction processing and use its existing systems of record as an interface to its other applications, such as business intelligence, data analytics, regulatory interactions, and reporting. It's vital to separate the infrastructure for enterprise blockchain technology from the business domain that uses chain technology to gain competitive advantage. Blockchain can be seen as an enterprise chain infrastructure that's invisible to businesses and operating behind the scenes, while promoting the interprise synergy between various business-driven chains. The idea is to separate the business domain from the technology that supports it. A chain application ought to be provisioned by a business domain that has a suitable trust system. The trust system, as I've stated repeatedly, is central to any blockchain endeavor, and therefore it should be appropriate to the needs of a given business application. The cost of the infrastructure and compute requirements will be dictated by the choice of trust system available to an enterprise. By separating out the blockchain technology infrastructure, designing an architecture around a pluggable trust system by using trust intermediaries and a design that promotes flexibility, and a modular trust system, the business can focus on the business and regulatory requirements, such as AML, KYC, nonrepudiation, and so on. The technology infrastructure for blockchain applications should be open, modular, and adaptable for any blockchain variant, thereby making the blockchain endeavor easy to manage. Interprise synergy suggests driving synergies between numerous enterprise blockchains to enable inter and intra enterprise chain (interledger) connections. In this model, the transactions would cross the various trust systems, giving visibility into the interactions to enterprise governance and control systems. Fractal visibility and the associated protection of enterprise data are important to consider when looking at these interactions between business units and external enterprises. An invisible enterprise chain infrastructure can provide a solid foundation to evolve enterprise connectors and expose APIs to make incumbent systems more chain-aware. Interprise synergy will flourish due to conditional programmable contracts (smart contracts) between the business chains: How can an enterprise know if it is ready for blockchain? More importantly, when considering blockchain consumption, should its focus be on integration with incumbent transaction systems, or an enterprise-aware blockchain infrastructure? To take full advantage of the promise of enterprise blockchain, an integrated enterprise will need more than one use case and will need to drive interprise synergy. The most successful blockchain consumption strategy should focus on technology initially and then consider integration with existing enterprise business systems. This will facilitate collective understanding and accelerate enterprise adoption of the blockchain, hopefully on the path of least disruption. Enterprise design principles As stated previously, blockchain technology promises to be the foundation for a secure transaction network that induces trust and security in industries that are plagued with systemic issues around trust and accountability. It aims to generate market and cost efficiencies. In the past few years, as blockchain technology has come to maturity, we've focused on how enterprises and businesses can use the technology to relieve pain points and herald new business models. Organizations that have begun to see blockchain's potential are now beginning to reshape business networks that are burdened by the systemic costs of archaic processes, paperwork, and technology. Business drivers and evolution In the recent past, organizations would run internal business systems and IT infrastructure out to the internet to harness the collaborative potential of interconnected and accessible systems. Blockchain technology is taking this to the next level, offering true digital interaction facilitated by trusted business networks. In the internet era, successful enterprises adopted and adapted to technological challenges, whereas in the blockchain era, business, rather than technology, is the driver for proliferation. While blockchain technology is interesting on its own, there are a lot of other mechanics of a business network that ought to be evaluated as well, including: Consensus models: Which trust system is most fitting for your business network? Control and governance: What entities are permitted to do what? Who will own the investigative process if there's a system anomaly? Digital asset generation: Who creates an asset in the system? Who governs it? Authority for issuance: In a system that's truly decentralized, the notion of authority does not hold together. So in a blockchain network, who would be responsible for governance, culpability, and eventually regulations? Security considerations: How will the network address enterprise security, including new security challenges imposed by a shared business network? We imagine a purpose-built blockchain network that's focused on a plurality of business domains, for example, mortgages, payments, exchanges, clearing, and settlement of specific asset types. In an enterprise context, we visualize a centralized network in which like-minded business entities share a consensus consortium. There are several practical reasons to back this idea of a centralized network, including the following: The use of domain-specific business language, which leads to the construction, management, and governance of smart contracts as proxy business representations A defined asset type, which leads to governance, management, and valuation (for exchange, fungibility, and so on) of the digital representation of assets Appropriate regulation, given that every industry and business network is regulated separately, and therefore the burden of adhering to regulations and other related costs can be shared in the business network Other related business functions such as analysis, analytics, market data, and so on We've now covered the business drivers for enterprise blockchain, so next let's consider what can ensure the sustainability and longevity of a blockchain network. Ensuring sustainability Blockchain-based business networks are continuing to evolve and grow, and as they do, there will be no turning back on core issues such as trust models, data visibility, and exploiting a network for competitive advantage. Focusing on sustainability can seem paradoxical because it promotes open collaborative innovation while at the same time locking down constructs such as consensus or trust systems and the governance systems for managing assets, smart contracts, and overall interaction in a multiparty transaction network. Blockchain system design needs to take all of this under consideration. A business network with a successful system design needs to align well with the blockchain tenets of trade, trust, ownership, and transactionality in a multi-party scenario. Without building on these core tenets, business networks may not realize the promise of blockchain technology in a sustainable way. Here are seven design principles to support and sustain growth in a blockchain business network: The network participants need to have control of their business The network has to be extensible, so that participants have flexibility to join or leave the network The network must be permissioned but also protected, to safeguard competitive data while facilitating peer-to-peer transactions The network should allow open access and global collaboration for shared innovation The network must be scalable for both transaction processing and encrypted data processing The network has to be able to accommodate enterprise security and address new security challenges The network needs to coexist with established systems of record and transaction systems in the enterprise We will list the design principles graphically as follows: The principles that drive blockchain adoption In any enterprise, blockchain adoption is driven by three principles: the business blueprint, the technology blueprint, and enterprise integration. The following are some indispensable things to consider when choosing a blockchain framework according to these three principles: Business blueprint: Blockchain promises to create a business network of value based on trust. To do this, it's vital to understand how various blockchain frameworks handle network interaction patterns, inefficiencies, and vulnerabilities. Technology blueprint: If technology is to align with business imperatives, organizations need to make appropriate technology and architecture choices for their needs. Transactions per second (TPS), enterprise integration, external system integration, and regulatory and compliance requirements may be taken under advisement here. These decisions are all part of the technical due diligence necessary to properly budget for blockchain adoption. Enterprise integration: Integrating blockchain into enterprise systems, especially an adjacent system, is an important business and technology consideration (because downstream transaction systems affect critical business systems) as well as a cost point. Based on my experience, if organizations don't focus on adjacent system integration early in the planning, it can impede adoption, because it has a significant cost impact on blockchain projects. In the following sections, I cover each of these design considerations in a bit more detail. Business considerations for choosing a blockchain framework Numerous criteria come into play when organizations are evaluating whether to adopt blockchain to address their pain points. Here are some considerations from a business perspective: Open platform and open governance: The technology standards a business chooses will set the stage for enterprise blockchain adoption, compliance, governance, and the overall cost of the solution. Economic viability of the solution: Whatever blockchain framework an organizations chooses should provide cost alignment to its existing business models, charge backs, compute equity, and account management. This flows into ROI. Longevity of the solution: As organizations aspire to build a trusted network, they'll want to ensure that they can sustain the cost and operation of the network so that it can grow and scale to accommodate additional participants and transactions. Regulatory compliance: Compliance issues are closely tied to transaction processing and can include events such as industry-specific reporting and analysis for business workflows and tasks, both automated and human-centric. Coexistence with adjacent systems: A blockchain network needs to be able to coexist with the rest of the enterprise, network participants, and adjacent systems, which may have overlapping and complementary functions. Predictable costs of business growth: Business growth depends upon predictable metrics. Historically, a lot of industries have focused on transactions per second, but that measurement differs from system to system based on system design, compute costs, and business processes. Access to skills and talent: The availability of talent affects costs as well as maintenance and the longevity of a blockchain solution as the industry and technology evolve with continued innovation. Financial viability of technology vendors: When choosing vendors, it's vital to think about their viability when it comes to long-term support and the longevity of your blockchain solution. You should examine the long-term vision and the sustainability of the vendor or the business partner's business model. Global footprint and support: Blockchain solutions tend to involve business networks with a global reach and the related skills to support the network's expansion with minimal disruption. Reliance on technology and industry-specific standards: Standards are critical, not only in helping to standardize a shared technology stack and deployment, but also in establishing an effective communication platform for industry experts to use for problem solving. Standards make low-cost, easy-to-consume technology possible. Blockchain vendors offer various specializations, including: Variant trust systems: Consensus, mining, proof of work, and so on. Lock-in to a single trust system Infrastructure components that are purpose-built for particular use cases Field-tested design through proof of concept The technological risk of a vendor not adhering to reference architecture based on standardized technology set is a fragmented blockchain model for the enterprise. From a business point of view, an open standards-based approach to blockchain offers flexibility, along with a pluggable and modular trust system, and therefore is the most ideal option. This approach keeps an enterprise open to specialized blockchains such as Ripple, provides a provisioning layer for the trust system, and offers a separate business domain with the technology to support it. Technology considerations for choosing a blockchain framework When organizations consider the technology implications of blockchain, they should start with the premise that it is not just another application. It's a production network that involves risks and costs to ensure correct upkeep and maintenance. Here are some important things to ponder when evaluating blockchain's technological impact. Identity management Identity management is a complicated, involved topic, especially in regulated industries where identities must be managed and have significant business consequences, such as around activities including Know Your Customer (KYC), Anti-Money Laundering (AML), and other reporting and analytics functions: Permissioning is the concept of member enrollment certificates (eCerts) and transaction certificates for each member (tCerts); these enable an entity to be permissioned and identified while transactions are completed End user identity, which is maintained by a participating entity in the blockchain network, is the mapping of the LDAP/User registry to the tCerts or transaction ID for the sake of tracing (Know Your Customer, as well as Know Your Customer's Customer) Other identity management considerations include: An LDAP or existing user registry won't go away and has to be considered as a design point, since there's typically been significant investment and security policies in place for mature authentication and authorization systems Trust systems are at the heart of blockchain technology and must pave the way for trust with identity insertion (for use cases that require transactional traceability) The identity on blockchain and for blockchain Identity acquisition, vetting, and life cycle Alignment with trust systems based on use cases Scalability Scalability is both a business and a technology consideration, given the way downstream transaction systems can affect critical business systems. Technology choices for scalability, for example database choices for the shared ledger, adjacent system integration, encryption, and consensus, bring about a system design that can accommodate the predictable costs of growth in network membership or transactions. Enterprise security There are three layers of enterprise security to think about: The physical IT infrastructure layer, which includes use casespecific issues such as EAL5, network, and infrastructure isolation requirements. The blockchain middleware layer, which includes requirements for crypto modules, encryption levels, encryption on data storage, transfer and data at rest, and visibility of data between participants in the network. The blockchain consensus (trust system layer), which is central to blockchain and necessary to guarantee basic data store properties. If there are more players in the network, they have to bring capital equity to scale. This is about building a shared data store with enterprise data qualities at a lower barrier to entry. Consensus, even minimal consensus, is necessary to ensure this on the architecture in place. There's now a divide between cryptocurrency-based trust systems and non-cryptocurrency-based trust systems. The former models, such as POW/PoS, aren't sustainable for enterprise use cases aspiring to create permissioned blockchains. Development tooling Considerations for development tooling include an integrated development environment, business modeling, and model-driven development. Crypto-economic models The crypto-economic model refers to a decentralized system that uses public key cryptography for authentication and economic incentives to guarantee that it continues without going back in time or incurring other alterations. To fully grasp the idea of blockchain and the benefits of cryptography in computer science, we must first understand the idea of decentralized consensus, since it is a key tenet of the crypto-based computing revolution. Decentralization with systemic governance The old paradigm was centralized consensus, where one central database would rule transaction validity. A decentralized scheme breaks with this, transferring authority and trust to a decentralized network and enabling its nodes to continuously and sequentially record transactions on a public block, creating a unique chain—thus the term blockchain. Cryptography (by way of hash codes) secures the authentication of the transaction source, removing the need for a central intermediary. By combining cryptography and blockchain, the system ensures no duplicate recording of the same transaction. Blockchain system design should preserve the idea of decentralized digital transaction processing, adapting it into a permissioned network, while centralizing some aspects of regulatory compliance and maintenance activity as needed for an enterprise context. Enterprise support Having enterprise support for blockchain is important for the same reasons as the reconsideration of estimation effort. Remember that blockchain should not be thought of as just another application. It's a production network that involves risks and costs for upkeep and maintenance, and it won't be able to simply use existing applications for development, infrastructure, and services. Use case-driven pluggability choices To make sure your blockchain solution can allow for use case-driven pluggability choices, consider the following issues. Shared ledger technology The use cases, design imperatives, and problems you're trying to address through blockchain will all help determine the choice of shared ledger and database technologies. Consensus Consensus guides the trust system and drives technology investment in blockchain application infrastructure, and therefore is at the heart of blockchain. Also, there isn't one consensus type that fits all use cases. Use cases define the interaction between participants and suggest a most appropriate trust system through consensus models. Consensus is a way to validate the order of network requests or transactions (deploy and invoke) on a blockchain network. Ordering network transactions correctly is critical because many have a dependency on one or more prior transactions (account debits often have a dependency on prior credits, for example). In a blockchain network, no single authority determines the transaction order; instead, each blockchain node (or peer) has an equal say in establishing the order, by implementing the network consensus protocol. Consensus consequently ensures that a quorum of nodes agree on the order in which transactions are appended to the shared ledger. Consensus, by resolving discrepancies in the proposed transaction order, helps guarantee that all network nodes are operating on an identical blockchain. In other words, it guarantees both the integrity and consistency of transactions in a blockchain network. Crypto algorithms and encryption technology Choosing a blockchain system design may be guided by crypto library and encryption technology as well. An organization's use case requirements will dictate this choice and drive technology investments in blockchain application infrastructure: Asymmetric: RSA (1024-8192), DSA (1024-3072), Diffie-Hellman, KCDSA, Elliptic Curve Cryptography (ECDSA, ECDH, ECIES) with named, user-defined, and brainpool curves Symmetric: AES, RC2, RC4, RC5, CAST, DES, Triple DES, ARIA, SEED Hash/message digest/HMAC: SHA-1, SHA-2 (224-512), SSL3MD5-MAC, SSL3-SHA-1-MAC, SM3 Random number generation: FIPS 140-2 approved DRBG (SP 80090 CTR mode) Use case-driven pluggable choices As previously stated, use cases will define the interaction between participants and will suggest the most appropriate trust system using consensus models. Enterprise integration and designing for extensibility Designing a blockchain network to coexist with existing systems of record in an organization is important as a cost consideration. Integration should be through both business and technology issues, since downstream transaction systems impact essential business systems. By working with many enterprises, I've found that integrating blockchain with the adjacent systems has a significant cost impact on their blockchain projects. It really needs to be addressed early in the planning stages, so not to adversely affect enterprise adoption. It's also important to think about operational issues. By safeguarding the elements of trade, trust, and ownership—and the inherent properties of blockchain such as immutability, provenance, and consensus—a trust system promises to help eliminate redundant and duplicate systems and processes. These duplications cost an organization significant resources, leading to slower transaction processing and associated opportunity costs. One goal with blockchain adoption should be to address the central pain point of the existing process. The aspiration is for a transparent ledger that increases trust, saves time and significant costs, and provides better customer service. As for network extensibility, designing for extensibility means taking future growth into consideration as you plan the implementation. Extensibility measures a system's ability to extend and the level of effort that will be required to implement extensions. Extensibility is important with blockchain business network design, not only to accommodate for the dynamic nature of business (with all its regulations, competitive pressures, and market dynamics), but also to accommodate for network growth (the addition of regulators, market makers, disruptions, service providers, and so on). The following are some design considerations to help ensure network extensibility: Flexibility with membership:A blockchain network may start with a finite group of participants and roles, but new participants could later want to join the network, and others may want to leave. Therefore, you have to consider the mechanics of membership changes, including access to (shared) data. The member type is also an important thought when designing for extensibility, as the roles and type of members may change over time. Compute equity: There's a split between trust systems based on cryptocurrency and trust systems based on compute equity, so this is a fairly new concept. The types of participants and their business interests in the network are determinants of long-term sustainable infrastructure costs and maintenance. For instance, cost models of regulators may differ greatly from cost models of the primary beneficiary of a blockchain-powered business network. Shared business interests: Blockchain networks promise specific advantages for businesses, such as reduced risk, a reliable and predictable transaction network, lower compliance costs, and so on. But these shared interests can lead to other operational issues, such as data sharing and ownership as entities join and leave the network. Since regulations around data ownership evolve, as well as industry requirements for the durability of data, these should be evaluated carefully when you design a blockchain system. Governance: Governance includes managing technical artifacts such as technology infrastructure and governing data and smart contracts in a blockchain network. Layering governance in the following categories is recommended: Blockchain network/technology governance Blockchain data governance Blockchain smart contract governance Blockchain transaction management governance When designing for extensibility, the goal should be to ensure that the blockchain network has sustainable operational elements and business growth elements. For example, in a sustainable model, every participant could deploy the chaincode that governs its own business process as it accepts and deals with digital assets, while also putting business participants in control of changing business processes, policies, and regulatory requirements. Other considerations There are a few other considerations to keep in mind apart from the previously mentioned aspects. They are briefly explained in the following sections. Consensus, ACID property, and CAP A consensus model will never go to 0 because when NoSQL became the standard, various NoSQL systems solved their problems by understanding this CAP theorem, and the RDBMS enterprise community held steadfast to their ACID properties. Blockchain might well provide the primitives to break CAP and maintain ACID. Here are some thoughts. CAP Cap stands for: C—Consistency: Consensus guarantees only one truth of what happened and in what order A—Availability: The fact that all calls to the blockchain are asynchronous allows the invoking application to make progress while ensuring consensus and durability (chaining also guarantees this) P—Network partition: Consensus, again, prevents split-brain with conflicts when things get back together after a network partition ACID ACID stands for: A—Atomicity: The chaincode programming model is an all-ornothing behavior, which allows you to group activities together. Either everything happens, or it doesn't. C—Consistency: We believe the new world of NoSQL fudges this one. I believe this means the same as the C in CAP. I—Isolation: Isolation indicates that two transactions are serialized, which is exactly what block construction and chaining does. D—Durability: The chaining and replication all over the network ensures that if one or more nodes go down, data won't be lost. This is why everyone wants to bring a node and why those nodes should not be not co-located. Attestation – SSCs are signed and encrypted In secure service containers (SSCs), the software, operating system, hypervisors, and Docker container images cannot be modified. Certificates may be included in the SSC so that they can probe themselves into being genuine to a remote a party. For example, including an SSL certificate when building SSCs helps ensure that you're speaking with a genuine instance, since the SSL certificate always stays protected (encrypted) within the SSC. Use of HSMs According to Wikipedia, a hardware security module (HSM) is a physical computing device that safeguards and manages digital keys for strong authentication and provides cryptoprocessing. These modules traditionally come in the form of a plugin card or an external device that attaches directly to a computer or network server. Administering a high-security device such as an HSM can be a real challenge in relation to sufficient security and controls. In fact, today's standards mandate certain methods and levels of security for HSM administrative (and key management) systems. Summary Adopting blockchain in an enterprise will require a balancing act. Organizations will not only have to run, manage, and maintain their existing infrastructure; they'll also need to help pave the way for this new computational model that promises to bring transformation. In regulated industries, organizations could face a dual impact on the cost of compliance, since even a new technology platform still needs to adhere to established regulatory frameworks and proven technology architecture standards and design. Enterprises considering blockchain can look towards a pragmatic approach by adopting a doctrine of layered defense, combining multiple mitigating security controls to help protect their resources and data. With the layered defense approach, digital assets/smart contracts as well as ledger data will be guarded. Exploring Hyperledger Fabric The focus of this chapter is the Hyperledger Fabric project—its components, design, reference architecture, and overall enterprise readiness. We will also discuss the broader aim of Linux Foundation (LF) hosted Hyperledger projects and the importance of open source and open standards. The goal is to build an understanding of the diversity of various Hyperledger projects, and what frameworks and tools may be suitable for particular enterprise use cases and software consumption models. While the blockchain technology landscape is constantly in flux, Hyperledger projects represent a structure that supports a mature and peer-reviewed technology geared toward enterprise consumption and fueled by a diverse set of talent and community interests. This chapter will cover the following topics: The foundation of Hyperledger Hyperledger frameworks, tools, and building blocks Hyperledger Fabric component design Hyperledger Fabric – the journey of a sample transaction Exploring Hyperledger Fabric Understanding governance in business networks powered by blockchain Building on the foundations of open computing Open source projects, such as Linux and Java, have gained strength in mainstream businesses by serving as low-cost alternatives to commercial software. These capabilities rival those of proprietary software, thanks to support from a large developer community. Popular open source projects can also accelerate open standards, the collective building blocks for products, by serving as the common implementation. Businesses and vendors using open standards free up development and services budgets for items that offer higher value and competitive advantage. Open source is a part of the wider open computing movement, along with open standards and open architecture. Together, these initiatives enable integration and flexibility, and benefit customers by helping them avoid vendor lock-in. Enterprises are often required to adhere to various industry compliance and technology governance requirements, so it's important to consider the implications of open technology. While it is a well-understood fact that blockchain technology powers a business network, the issues around compliance adherence and technology governance can have an exponential impact on the cost of technology consumption, governance, and maintenance. Community-driven open innovation brings order to the chaos by providing a guiding framework for blockchain networks around network-centric software provisioning, deployment, governance, and compliance models. Because blockchain technology powers the business network, any application defining the network that represents the business application and therefore the impact—technology adoption, costs, and complexity—is also network wide. Therefore, open community-driven technologies and open standards ought to be viewed as a vehicle to risk management and risk mitigation with linkages to a community-driven governance structure. We aim to discuss this at length with a technological focus in this chapter. Fundamentals of the Hyperledger project To start building an understanding of Hyperledger, let's look at some of the key players and fundamental elements of the Hyperledger Fabric space. The Linux Foundation The Linux Foundation (LF) is a world leader in supporting open technology development, and it is highly esteemed in the developer community. LF is fostering partnerships that address some of the world's biggest challenges through open source computing. It has made enormous investments in open source projects since it was founded in 2000 and helped to build an ecosystem that paved the way for the technologies discussed in this book. Hyperledger Hyperledger is an open source project that came out of the LF and was created in order to help advance cross-industry blockchain technologies. It's a global open source collaboration involving leaders from numerous industries. Open source and open standards As noted previously, the open computing movement laid the groundwork for blockchain and Hyperledger. Open source is a software licensing model. This means that the user has the rights to the code and is free to use it, enhance it, or even redistribute it, provided this is done on an open source basis. One of the major advantages of an open source business application is the high level of flexibility provided through open source code, modular components, and standards adherence. This enables an organization to adapt the technology to achieve true usability with minimal effort. Many applications that are backed by open source technologies can be assembled, like building blocks, to solve business problems. These building blocks come with a core set of functionalities, and each can be enhanced to meet specific business requirements. The different building blocks are easily integrated through the use of open-standard technologies, and additional features that can be custom developed in a modular way. An open source business application can therefore provide a base set of features at a very low cost, while enabling services engagement to enhance or tailor the application to fully meet business needs: The open source community also provides a global, diverse talent pool and community with a wide range of ideas and creativity, which generate more collaborative innovation than any single vendor ever could. It has disrupted markets and created growth opportunities for those who recognize its advantages. Open source technologies such as Hyperledger and its family of projects provide the following advantages to the industry: Lower cost of software consumption: Open source technologydriven projects do involve costs associated with deployment, maintenance, management, support, and so forth. The overall costs of development and costs associated with the talent pool, however, is largely reduced. Linking the internal technology governance structure with the community-driven governance structure of a Hyperledger project can greatly reduce the costs of technology governance and compliance. The growing popularity of Hyperledger projects represents the growth of community participation, implying the availability of a diverse talent pool associated with Hyperledger frameworks and tools. This is a huge cost consideration for enterprise business networks as their requirements and business networks grow. Innovation and extensibility: Enterprise and business networks do not have to have the vendor locked in, but rather can choose from the most innovative and involved communities, taking advantage of fastpaced innovation in blockchain technology space. Piggybacking on community-based innovation will only amplify the business network's ability to leverage new technology and innovation from projects, and simplify business network operations and governance costs, not to mention the wide array of competing and complementing technology sets available, that provide flexibility in enterprise architecture and design. Sustainable development and innovation stream: LF provides governance structure to the Hyperledger community. Sustainable development implies peer review and regular software updates by the community that supports it. This enables a vehicle where business networks can enhance their value proposition and create new business models. In many cases, the business network participants may also represent the Hyperledger community, leading to a bidirectional stream of innovation, where the business network feeds business innovation- led improvements and requirements, with the technology community accepting and enhancing innovation. Security and reliability: The Hyperledger community provides a community of peers that review, debate, and collectively accept the technology's design and innovation. This LF provided governance structure assumes collective responsibility, as Hyperledger projects are implemented and maintained by a large community of blockchain specialists who can find and address a vulnerability at a much faster pace than a vendor who is provided with proprietary software solutions. Because Hyperledger projects include involvement from their members, who share the costs of development and governance, the Hyperledger framework is reliable, as it is openly governed and peer reviewed by the community. Speeds up development and market adoption: Open source projects such as Hyperledger projects have diverse communities and member organizations with common interests and a dedicated talent pool to collectively solve emerging problems. Hyperledger projects and the communities behind them provide developers and business networks the opportunity to contribute and consume software at the pace of innovation. The speed of development and market adoption is a critical consideration for many business networks at this stage of rapid te...
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Running head: BLOCKCHAIN APPLICATION

Blockchain Application
Student’s Name
Affiliated Institution

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BLOCKCHAIN APPLICATION
Blockchain Application
Purpose Statement of the Business Network
The problems associated with time and trust are fundamentally solved by blockchain
together with the challenges of costs and inefficiencies in the supply chain, financial services,
logistics, and healthcare sectors. Shared ledger and immutability are crucial blockchain features
where a consensus-driven trust system perform transaction updates to enhance a digital
connection among different parties (Gaur et al., 2018). The essay is aimed at outlining
Medicalchain whitepaper highlighting its vision and present issues in healthcare, giving a
summary on blockchain technology used by the business to solve challenges to make healthcare
better.
Medicalchain business environment entails the application of blockchain technology to

the digital health records sector. A single version is maintained by blockchain after storage of the
health records. Different stakeholders such as medical institutions and individuals, including
insurers, doctors, and labs seek authorization to access patient’s database from the blockchain.
Patients have authority and control of their health records, while healthcare providers offer better
care on the basis of accurate health record they possess. Medicalchain is focused on putting
patient in control of their health information, offer them platform to share comprehensive form
of the information with stakeholders in their medical network. Healthcare system face inaccuracy
and inefficiencies with fragmented healthcare system.fo a smart collaborative healthcare,
Medicalchain implements blockchain technology to keep health records secure.
A dual blockchain structure created Medicalchain. Hyperledger fabric is used to build
Medicalchain blockchain control access to health records. Another blockchain is supported by

BLOCKCHAIN APPLICATION

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ERC20 token on Ethereum and controls all applications and services in Medicalchain platform.
The application is more possible and valuable since the network is permission based and requires
users to sign up to use. The hyperledger modelling and access control languages controls the
previsioning on the network. Also, the application is more valuable since the platform is
supported by flexible architecture providing high standard of confidentiality, flexibility, and
resilience because the hyperledger fabric is for distributed ledger solutions. Hyperledger fabric is
a closed blockchain, a good solution to maintain necessary privacy need in such an application
since medical records are highly sensitive in social and legal sense. Medicalchain blockchain
technology is more valuable with its hyperledger fabric providing reliable solutions to access
medical data accommodating multiple layers of permission, therefore owner of a group of data
can manage parts of their data accessed. Besides, Medicalchain offers the infrastructure for
digital health applications through implementation of blockchain technology and cryptocurrency.
The user’s health information flawlessly supports these services and applications. The platform
is more valuable than existing offering since users can develop Medicalchain platform and
promote successful ecosystem to give value, minimize costs while improving lives.
Medicalchain blockchain app adds several values to existing and potential customer and
partners. First, it is a decentralized platform with secure, transparent and fast exchange in usage
of health records. The app uses blockchain technology to for user oriented electronic health data
and maintain single original version of user’s information. Medicalchain will empower clients to
give contingent access to various social insurance operators, for example, specialists, emergency
clinics, research centers, drug specialists and safety net providers to communicate as they see fit.
Every collaboration with their clinical information is auditable, straightforward and secure, and
will be recorded as an exchange on Medicalchain's dispersed record. During this procedure, the

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patient's security is ensured consistently. Medicalchain is based on the consent based
Hyperledger Fabric design which permits differing access levels; clients control who can see
their records, the amount they see and for what time allotment. By enabling clients, we can
manufacture the eventual fate of human services together. Medicalchain will be a stage for other
computerized wellbeing applications to create on; clients will have the option to finish
paperwork for these applications and administrations which are fueled by their wellbeing
information and made sure about by brilliant agreements. Medicalchain is presently creating two
applications to work close by the stage: a specialist to-quiet telemedicine application and a
wellbeing information commercial center. The telemedicine application will empower clients to
counsel a genuine specialist remotely (for instance, on their telephone) for a little charge payable
legitimately to the specialist. The Marketplace empowers Medicalchain clients to arrange
business terms with outsiders for elective uses or uses of their own wellbeing information. For
instance, advancing their information to be utilized in clinical research. It is planned that
Medicalchain and others will contribute a lot more applications to the stage - carrying an
incentive to all partners.
Description of Current Network
Medicalchain blockchain technology through linking ecosystem to a general
infrastructure offers solution to the trade-off between operational costs and personalized care.
The shared infrastructure helps the firm to provide global standards without compromising
security and privacy. Medicalchain blockchain network builds an inclusive ecosystem to link
organizations and technologies. Medicalchain integrates with industry leaders to have an
industry-driven approach to infrastructure and application development.

BLOCKCHAIN APPLICATION

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The current medicalchain network can link to any blockchain network by forming adaptable
applications that are flexibl...

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