Why is blockchain that disruptive for public and private organisations?
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Blockchain opens up the possibility to accelerate internal old and sticky processes as well as the transformation to new business models. Business models based on a distributed ledger where all kind of assets can be registered, including precious assets. By having this distributed ledger shared across a network of multiple sites, geographies or institutions, transactions can be done directly between the participants of the network. On top of that, the blockchain technology enables tracking and tracing, without the need of manual controls. The assets may vary from food, jewels, chemicals, identities, land, intellectual property rights, licensed user-rights, or other resources. The direct communication or peer to peer exchange of transactions inspires organisations to start thoughts for redesign existing bureaucratic processes, an extra driver for digital initiatives. That makes the use cases or accelerators on blockchain more than promising. Because in the end, who doesn’t want a more efficient, faster, and secure process? Blockchain can be a game changer.
The blockchain peer to peer high value transactions requires new governance and regulations; nevertheless the experiments are already challenging. On top of the promises of peer-to-peer transactions based on a distributed ledger, huge advantages are expected, the peer to peer transactions will skip most of the overhead or middleman broker actions.
There is no need for brokerage. The distributed ledgers are simple, transparent, safe, trustworthy and accurate. The distributed ledger will comply with the request for confidentiality, integrity and availability. All participants within a network can have their own identical copy of the ledger. Any changes to the ledger are reflected in all copies in minutes. The assets can be financial, legal, physical or electronic. The security and accuracy of the assets stored in the ledger are maintained cryptographically through the use of ‘keys’ and signatures to control who can do what within the shared ledger. Entries in the ledger can also be updated by one of the participants, according to rules agreed by the network. IAM and blockchain
The distributed ledger technology opens up new options to the digital identity. Why should every web shop ask for creation of a user identity and password? And during creation of the user identity quite often raise extra questions before you can continue or complete your request. And why should they store your precious information in their centralized user store where you have little or no insights about the integrity, accuracy or confidentiality measures they take care of.
Making new business models where you, as a user, bring your own identity in the way you get the right comfort feeling is possible. The era for decentralized IAM has started. The user will get ownership of the attributes to be shared or verified to the questions of the web shop. This new way of using electronic or digital business means re-engineering the business processes. Through process reengineering entities (public and private) will rethink reality to reap considerable savings. Blockchain and Sogeti
The blockchain fever is inspiring requests for new business models supporting the next gen of IAM. Public and private companies are challenged to do experiments with the new peer-to-peer model based on the distributed ledger. Sogeti has several business analysts and consultants who have been worked up on Blockchain. Moreover we have developers who script and build, and last but not least crypto experts that can assist you within this journey. Besides our professionals, Sogeti makes use of state of the art preconfigured technical blockchain toolkits via several partners. The technology partners of Sogeti also trained the Sogeti developers in the different architectures and toolkits to give customers a head start.
Lilian Boonstra is Security Program Manager at Sogeti, which hosts the IAM Blockchain event.