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Saturday, July 21, 2018

Description of Enterprise Blockchain

To the point and non-technical.

The blockchain beyond bitcoin

Taking blockchain technology private for the enterprise.   By Jim Scott in O'Reilly

Check out Jim Scott’s session “Using the Blockchain in Enterprise” at the Strata Data Conference in New York City, Sept. 11-13, 2018. Early price ends July 27.

Blockchain technologies have been made popular by the creation of bitcoin, but how exactly can a blockchain benefit an enterprise? A blockchain provides an immutable store of facts. This model delivers significant value in the face of regulatory oversight by providing irrevocable proof that transactions occurred. Some even refer to these uses of a blockchain as enterprise resource planning (ERP) 2.0.  ... " 

" ... The concept of smart contracts  .... 
While the initial blockchain implementation (bitcoin) wasn't intended to deliver a smart contract platform, it inherently contained a mechanism for keeping track of ownership of bitcoins. The expansion of this concept within a blockchain was exposed by Ethereum. But what exactly is a smart contract? To put it as simply as possible, it is a mechanism for ensuring that software can be executed, audited, and prove what it did. Fundamentally, a smart contract can be created with nothing more than a microservice with a trigger event, otherwise known as function-as-a-service (FaaS) or a serverless model. .... " 

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