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EDITOR’S QUESTION
SUNNY LU,
CEO, VECHAIN
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F
or most companies, the question of
whether enterprises should seek to
invest in Blockchain has already been
answered. According to the 2018 PwC
Global Blockchain Survey, which polled over
600 executives in different regions and
industries, 84% of the respondents say their
organisations were active in the field of
Blockchain technology.
For executives, the more perplexing issue
centres around the type of Blockchain
solution to invest in – from permissionless and
open networks that offer transparency but
also uncertainty, to private and permissioned
chains that are more secure, but offer
less trust to network partners and clients.
Enterprises must find an intelligent balance
between decentralisation and security in
order to maximise the trustless element of
Blockchain data, This is a task that the global
platform VeChain has set about solving with
their hybrid-public Blockchain ecosystem.
VeChain’s innovative governance model
is based around 101 Authority Nodes,
comprised of industry and research leaders
from around the globe, working together
to authenticate data in a decentralised,
scalable and efficient manner.
Together with enterprise partners like
DNV GL, Deloitte, PwC and BIOS Middle
East, they have built the first enterprise-
grade Blockchain platform. By distributing
network authority among trusted and
reputable organisations, VeChain maintains
a decentralised network while avoiding
the instability often associated with a
completely permissionless Blockchain.
www.intelligentcio.com
The UAE’s leading cloud service provider,
BIOS Middle East, was quick to recognise
the advantages that uploading immutable
data to the VeChain platform provides.
Their Security-as-a-Service platform, known
as BIOS Secured, monitors client systems
and networks while storing encrypted data
about events, threats and incidents on the
Blockchain. This provides an indisputable
log that both clients and BIOS Middle East
cybersecurity experts can analyse to better
safeguard client networks.
“
INVESTING IN
BLOCKCHAIN NOW
ISN’T JUST ABOUT
PROVIDING YOUR
ENTERPRISE WITH
A COMPETITIVE
ADVANTAGE
– IT’S ALSO
ABOUT FUTURE-
PROOFING YOUR
CORPORATE
STRATEGY.
Investing in Blockchain now isn’t just about
providing your enterprise with a competitive
advantage – it’s also about future-proofing
your corporate strategy. Projects in California
are working with soil moisture sensors
on farms to create real-time moisture
distribution maps accessible by third parties
such as sustainable water organisations. In
addition to having better understanding
of how to optimise water usage for each
crop, these smart farms are preparing for
inevitable policies bringing stricter irrigation
regulation. The automated and immutable
nature of the VeChain platform provides
trust when sharing information with third-
party individuals or organisations.
Sharing the data between farms, supply
chains, regulators, and consumers can create
verifiable sustainability solutions that reduce
wasted resources and contribute to a healthy
corporate strategy.
In a future dominated by Smart Cities,
smart manufacturing and autonomous
supply chains, Blockchain will provide the
infrastructure empowering commerce
and business solutions. Taking a proactive
approach to Blockchain investment
will allow enterprises to bring trust,
transparency and a new array of innovative
services to their customers. n
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