A set of cybersecurity strategies that prevents unauthorized.

Blockchain case studies

Blockchain has the potential to be a disruptive technology across industries, with varying impacts on finance. While many applications are still at the exploration stage, there are plenty of examples demonstrating how the technology could be used. Here you can read case studies gathered by the Tech Faculty and Deloitte.

There are a range of different ways blockchain technologies can be used to generate business benefits, such as improved visibility and near real-time reporting. Some applications are built around the synchronicity of the ledger and its ability to simplify reconciliation, while others are focused on removing middleman from systems, reducing cost and bias. A third group, meanwhile, are dedicated to hosting smart contracts, automating and adding certainty to contractual arrangements and transactions.

Network services form the backbone of modern communication and data exchange, enabling seamless connectivity across various devices and locations. These services encompass a wide range of functionalities and technologies that facilitate efficient data transmission, resource sharing, and collaboration within organizations and beyond. From basic internet connectivity to complex virtual private networks (VPNs) and cloud integration, network services play a crucial role in supporting business operations, enhancing productivity, and enabling digital transformation.

#1. Asset registry

This causes problems in that the register must reliably reflect real-world existence and condition of assets, and there must be legal mechanisms for enforcing ownership rights when blockchain records indicate these are held, even against parties who are not part of the blockchain, or do not recognise it as legitimate.

• Perhaps the clearest case for where blockchain could be advantageous is provenance and transfer of ownership of assets, and land registry is a particularly good case. There have been several pilot studies and proofs-of-concept made, including in Georgia, Sweden and Honduras, but none have yet reached large-scale testing

• If property transactions were handled on a blockchain, it could record the entire transaction history of a property, which would increase the efficiency of transaction processing and fight corruption by distributing the maintenance of records to all parties.

• Using smart contracts, asset exchange could also follow specific instructions encoded as part of the transaction to be executed automatically once agreed criteria have been met, further increasing the efficiency of the exchange process.

• A land registry blockchain would have to start by tokenising land assets – that is, creating a representation of each section of land as a legally-equivalent digital asset, stored on the blockchain. This would be followed by ensuring the present owners had the ownership of the appropriate tokens assigned to them. This is no small undertaking as existing systems are already very complex, and there is a need to be flexible in future if existing land deeds are altered or split.

• While bitcoin works because it is a wholly online system, with all participants agreeing to the ownership and provenance records, blockchain application in areas like land registry is more complex due to the need to register the ownership of assets and tie the records to the real world. This causes problems in that the register must reliably reflect real-world existence and condition of assets, and there must be legal mechanisms for enforcing ownership rights when blockchain records indicate these are held, even against parties who are not part of the blockchain, or do not recognise it as legitimate.

#2.Cryptocurrencies

Bitcoin is an online cash currency launched in early 2009. Bitcoin was created to be a form of electronic cash that could be sent peer-to-peer without the need for a central bank or other authority to operate and maintain the ledger, much as how physical cash is used.

• The engine that runs the bitcoin ledger is original and largest blockchain, while other blockchains run several hundred other similar currency projects with different rules.

• Bitcoin works by paying miners – those that do the computational legwork of posting new transactions – with newly-minted bitcoins. As long as the currency is desirable, it is self-sustaining. The system automatically adjusts the difficulty of posting transactions and the reward for doing so to control inflation.

• Encryption and Authentication: Utilizing encryption protocols and strong authentication mechanisms to secure data in transit and authenticate users accessing network resources.

#3. Bitcoin is attractive to users for several reasons:

NNetwork services facilitate efficient resource sharing and collaboration among users and devices, regardless of geographical location:

• payer-borne transaction costs are low;

• the valuation of the currency has generally been growing strongly since its creation

• the system is much less restricted than traditional banking.