Blockchain Technology - Any examples of practical application?

[Sidney Vianna]

Blockchain technology is touted as the next revolution, akin to the potential breakthrough which might be brought to the manufacturing world by additive manufacturing.

ISO has recently established a Technical Committee to tackle on blockchain technology, TC 307. From the article:

Blockchain is a shared, immutable ledger that can record transactions across different industries, thus enhancing transparency and reducing transaction costs. It is a digital platform that records and verifies transactions in a transparent and secure way, removing the need for middlemen and increasing trust through its highly transparent nature.

Is anyone here familiar with practical (existing or potential) applications for blockchain technology? Care to share?

 

[Pancho]

Good question Sidney. I'd also love to hear of applications other than crypto-currencies. Land registration is one such application I read about recently.

I think a similar possible application could be in public construction projects. In many countries such projects are one of the largest sources of corruption. Blockchain could potentially be used to track funds and make sure they don't get kicked back to corrupt politicians or others. Perhaps a new ISO standard could be developed for corruption-free government? (One can dream, no?)

 

[howste]

Perhaps a new ISO standard could be developed for corruption-free government? (One can dream, no?)

And then every government would claim compliance with no independent verification.

 

[Pancho]

And then every government would claim compliance with no independent verification.

That's the point of the technology. With blockchain no such verification is needed. The information is complete, distributed and un-falsifiable.

Save​

 

[howste]

That's the point of the technology. With blockchain no such verification is needed. The information is complete, distributed and un-falsifiable.

I didn't see that you were connecting the ISO standard for government anti-corruption with Blockchain technology . In that case, every government would support it for every other government but would exempt themselves for privacy and security reasons.

 

[Sidney Vianna]

I'd also love to hear of applications other than crypto-currencies.

Oh, yeah, cryptocurrencies. Bitcoin and all the others....bubbles to burst soon?

 

[Sidney Vianna]

Perhaps a new ISO standard could be developed for corruption-free government? (One can dream, no?)

Not specific to governmental corruption, but an anti-bribery management system ISO standard has been developed: ISO 37001.

ISO longs for the chance to develop another blockbuster standard, such as 9001.

 

[Pancho]

Thanks for the heads up on this, Sidney. I'll look into it.

We do a lot of work in Mexico and many other developing countries, but seldom for government because most such jobs require bribes. Early in an inquiry we tell clients that we adhere to Principle 10 of the UN Global compact. That usually kills many a government client's interest. Even their architect's.

It is extremely frustrating, as our product would be very useful to their projects.

So, yeah, a standard that would force government transparency would be fantastic.

In the meantime, we, socially responsible companies that meet ISO 37001, or the Global Compact, or the FCPA, are handicapped. And taxpayers in these countries are robbed silly with inferior products and horribly expensive public works.

 

[Eredhel]

I think it would depend a lot on what information is to be shared. I don't see supply chains or purchasers willingly giving up info. For quality management systems our ERP company pitched something similar to me a few months ago. Basically a digital spot to put all the requirements alongside the other stuff the ERP already does for us. Once they got me on the phone I could see pretty quickly it was just a fancy version of the quality manuals and procedures you can buy online. Plus you would lose a lot of the context of an organization that way and be reliant on their interpretations of requirements. They couldn't even answer the most basic questions about specific things they offered.

 

[Pancho]

Oh, yeah, cryptocurrencies. Bitcoin and all the others....bubbles to burst soon?

I don't think so anymore. This will be big. Much more than it is already.

Yup, I sipped the koolaid. Try it. You're welcome.