Readable piece that covers positives and negative cautions. Which gets to some reasonable rules of useful application. In PDF form.
Blockchain Technology: What Is It Good for? in Queue ACM.
Industry's dreams and fears for this new technology
By Scott Ruoti, Ben Kaiser, Arkady Yerukhimovich, Jeremy Clark, and Robert Cunningham
In 2008, an author using the pseudonym Satoshi Nakamoto wrote a white paper describing Bitcoin, a new decentralized cryptocurrency.8 Unlike past attempts at forming a cryptocurrency—attempts that relied on preestablished trusted entities for the system to operate correctly—Bitcoin's design runs on the open Internet, with no one in charge, while maintaining tight security. While the building blocks of Bitcoin were not novel, the composition of these properties into a single system was a meaningful contribution,9 and Bitcoin became the first cryptocurrency to achieve widespread attention.
In response to Bitcoin's success, the technology was quickly dissected to understand how it works and what is new about it. Its most innovative component has been labeled blockchain technology, a decentralized mechanism for participants to agree upon data and computation.
Technology news commonly leaves the cheery impression that blockchain technology reduces or even completely eliminates the need for trust. The use cases of such an innovation stretch the imagination. Occasionally, there is a contrarian take.12
The truth is, trust is complicated. Blockchain technology does eliminate specific, narrow reliances on trust, but it also requires new assumptions that might be better or worse for specific use cases. Thus, there are not many single-sentence talking points that will be accurate about blockchain technology's efficiency, security, cost, etc.
It is clear that this technology requires a more nuanced discussion. Business executives, government leaders, investors, and researchers frequently ask the following three questions: (1) What exactly is blockchain technology? (2) What capabilities does it provide? (3) What are good applications?
The goal of this article is to answer these questions thoroughly, provide a holistic overview of blockchain technology that separates hype from reality, and propose a useful lexicon for discussing the specifics of blockchain technology in the future. ... "
Showing posts with label Distributed Ledger Technology (DLT). Show all posts
Showing posts with label Distributed Ledger Technology (DLT). Show all posts
Thursday, January 02, 2020
Sunday, June 02, 2019
Monitoring and Improving Process by Trusted Measuring and Adapting
Considerable article brought to my attention my Alex Renz. Connecting Distributed Ledgers and Operations Technology, Ultimately my closest goal. How do we improve process by measurement, goals and analytics? Here a novel direction example:
“OT is hardware and software dedicated to detecting or causing changes in physical processes through direct monitoring and/or control of physical devices such as valves, pumps, etc.”
— Gartner IT Glossary, as of Jan. 2019
IILA x IOTA — Bridging the Gap between OT and IT in Production Metrology
Creating a Wireless Smart Device Gateway for Quality Applications using Mahr Measuring Instruments
By Daniel Trauth
Co-Authors: Ashri Anggia, Semjon Becker, Sascha Kamps
Quality Applications in Production Metrology
Quality applications and production measurement technology (referred to as Production Metrology) cover an important market, see Figure 1. In Germany alone, revenues from the manufacture of measuring and testing instruments rose from USD 28 billion to USD 38 billion between 2010 and 2016. According to a statistic by Statista, a further increase to USD 41 billion is expected in Germany by 2020. Although Germany is an important industrial nation, the figure below shows an incredible worldwide potential in the field of quality applications and production measurement technology.
In quality applications and production metrology, measured data — referring to the quality of a product — is exchanged between manufacturers (e.g. OEMs) and their suppliers; most probably in a different variety of formats and in a short notice. This non-standardised exchange of quality data is associated with considerable financial losses, because on one hand there is no reasonable exchange standard and on the other hand cooperation between manufacturers and suppliers without exchange standard simply does not work.
In recent years, few attempts for exchange protocols like Quality Data eXchange (QDX) or Advanced Quality Data Exchange Format (AQDEF) have become increasingly common in use. For direct integration of devices into Statistical Process Control (SPC) software, some standards such as the MUX-50 data format are available. However, this is an error-prone process with low trustworthiness.
It is imperative that the measured data should be transferred immutably conforming high data security standards and existing data exchange protocols. With advancing digitisation and globalisation, the use of Distributed Ledger Technology (DLT) as a decentralised protocol can lead to a worldwide backbone for measured quality data, enabling trust, data security and widely useful exchange format. But first, one needs a concept to combine Operational Technology (OT) and Information Technology (IT). .... "
“OT is hardware and software dedicated to detecting or causing changes in physical processes through direct monitoring and/or control of physical devices such as valves, pumps, etc.”
— Gartner IT Glossary, as of Jan. 2019
IILA x IOTA — Bridging the Gap between OT and IT in Production Metrology
Creating a Wireless Smart Device Gateway for Quality Applications using Mahr Measuring Instruments
By Daniel Trauth
Co-Authors: Ashri Anggia, Semjon Becker, Sascha Kamps
Quality Applications in Production Metrology
Quality applications and production measurement technology (referred to as Production Metrology) cover an important market, see Figure 1. In Germany alone, revenues from the manufacture of measuring and testing instruments rose from USD 28 billion to USD 38 billion between 2010 and 2016. According to a statistic by Statista, a further increase to USD 41 billion is expected in Germany by 2020. Although Germany is an important industrial nation, the figure below shows an incredible worldwide potential in the field of quality applications and production measurement technology.
In quality applications and production metrology, measured data — referring to the quality of a product — is exchanged between manufacturers (e.g. OEMs) and their suppliers; most probably in a different variety of formats and in a short notice. This non-standardised exchange of quality data is associated with considerable financial losses, because on one hand there is no reasonable exchange standard and on the other hand cooperation between manufacturers and suppliers without exchange standard simply does not work.
In recent years, few attempts for exchange protocols like Quality Data eXchange (QDX) or Advanced Quality Data Exchange Format (AQDEF) have become increasingly common in use. For direct integration of devices into Statistical Process Control (SPC) software, some standards such as the MUX-50 data format are available. However, this is an error-prone process with low trustworthiness.
It is imperative that the measured data should be transferred immutably conforming high data security standards and existing data exchange protocols. With advancing digitisation and globalisation, the use of Distributed Ledger Technology (DLT) as a decentralised protocol can lead to a worldwide backbone for measured quality data, enabling trust, data security and widely useful exchange format. But first, one needs a concept to combine Operational Technology (OT) and Information Technology (IT). .... "
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