With this paper, we provide a brief analysis of the most notable differences between the distributed ledger technologies (DLT) Hyperledger Fabric, R3 Corda and Ethereum. Our intention is to give decision makers new to DLT guidance for what use cases Hyperledger Fabric, Corda and Ethereum are most suitable.
Blockchain technology can solve development problems as it improves existing instruments and enables the development of new ones. Blockchain-based applications particularly address institutional weaknesses and financial inclusion because they restrict deception, corruption and uncertainties. In the future, the blockchain can also be a development vehicle empowering people directly and mitigating power asymmetries. The governments of underdeveloped countries should support the implementation of applications to benefit general development. They should, therefore, clarify legal frameworks and establish an encouraging business environment.
The supply chain in the pharmaceutical industry is complex, with drugs changing ownership from manufacturers to distributors, repackagers, and wholesalers before reaching the customer. Consequences include the counterfeit drug problem and inefficient processes for conducting recalls and returns processing. These inefficiencies result in financial losses and loss of trust with consumers. The blockchain could be an opportunity platform to increase trust and transparency, with customers being able to track pharmaceutical products throughout the supply chain. Only trusted parties are granted access to write on the blockchain.
This paper focused on blockchain applications in the manufacturing industry and discloses potentials and challenges. Based on expert interviews and a market survey, a variety of use cases of blockchain technology in the manufacturing industry was identified. These use cases were analyzed using a cluster analysis and evaluated based on criteria for a beneficial application of blockchain. Future research opportunities lie in a deeper analysis of the business processes in the manufacturing industry to further exploit the advantages of the blockchain technology.
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Different to a few years ago, many experts today consider the underlying blockchain technology as the largest potential to disrupt industries far beyond banking. There are indicators that blockchain projects with the primary focus on general-purpose technology and other applications are on the verge of disrupting other industries instead of being a pure store of value. With respect to the chemical industry, we want to emphasize four main blockchain features that can be combined to enable new functionality.
The Internet of Things (IoT) and process automatization will revolutionize many industrial and consumer business applications. With the emergence of the Internet of Things (IoT), new business models have to be created, capable of handling machine to machine communication and the facilitation of micropayments. In this paper, it is examined, how blockchain characteristics and other distributed ledger technologies benefit the IoT development. Furthermore, a new blockchain business model framework for autonomous IoT sensor devices is presented.