The Blockchain Revolution
Why are some of the biggest names in business diving headfirst into the murky waters of blockchain? Well, it turns out that interoperability is more than just a fancy buzzword—it’s the lifeline for enterprises looking to ride the blockchain wave. Walmart’s Archana Sristy has a thing or two to say about this.
Decentralization: The Key to Success
At the Hyperledger Global Forum 2020, Sristy stressed the importance of decentralization, confirming that this isn’t just a boardroom talking point. In the spirit of blockchain, she emphasized the need for open networks that welcome others with open arms, saying, “Networks need to be open and inviting.” Think of it as a digital potluck; everyone should be able to bring their dish to the table without trying to hog the whole buffet.
Open Source vs. Open Culture
Hyperledger’s executive director, Brian Behlendorf, made a clear distinction between open-source code and open culture within enterprises. Simply put, while the code might be available for all to see, the actual participation often comes with a few stipulations—enter the world of permissioned networks. It’s like joining an exclusive club where you can see the cool stuff, but not everyone gets a membership card.
Why Permissioned Blockchains are Here to Stay
So why should we care about permissioned networks? As Honeywell’s Lisa Butters pointed out, Fortune 500 companies may hesitate to join a free-for-all blockchain. If you don’t establish some ground rules, it’s just like trying to run a marathon where everyone pushes ahead, and the finish line is a mystery. Constraints aren’t just advice—they’re essential for corporate participation.
The Future is Bright for Blockchain
As Walmart continues to expand its role in blockchain, joining forces with IBM’s Food Trust Network, it’s clear that the company is committed to leveraging this technology for more than just food traceability. Expect to see Walmart hopping onto more pilot projects, including those in the pharmaceutical sector, while Honeywell aims to tackle greenhouse gases with blockchain tech. Even American Express is looking to get into the action, claiming the role of settlement payment provider. Talk about a blockchain bonanza!
