Blockchain Archives - Ekino global
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Take the examples of Deliveroo, Uber Eats and Frichti: what we believed was a good experience five years ago – to have a warm margherita delivered to our door in 45 minutes – is today viewed as a little disappointing. Through simplifying the ordering process, providing a wider menu, and having exceptional customer follow-up, these services have completed the satisfaction circle to such an extent that our overall expectation has permanently risen to a higher level.
Companies like these impose new standards of experience that create great satisfaction because their focus is squarely on customer needs. By studying and analyzing these standards, we can learn to optimize customer satisfaction and apply the principles to our own activities.
However, these projects can be complex because, often, the entire service paradigm needs to be redesigned. Satisfaction is resolutely business-critical because it helps to strengthen the brand image and assists in the acquisition of new customers and the retention of existing ones. Customer experience and satisfaction measurement should be a champion of corporate culture and no longer limited to a simple KPI.
Cryptocurrency mining is a well-known use case: the crypto-currency security mechanism ‘Proof of Labor’ requires a large amount of electrical energy, so as to ensure that the cost of an attack on the network is greater than the potential gain of the network. In order to have enough computing power allocated to securing the network, the ‘miners’ are rewarded by the cryptocurrency network. Many companies were created around this activity which became known as ‘cryptocurrency mining’. Now, in order to reduce energy costs, a number of these companies are favouring renewable energies, capitalising on surplus energy produced in renewable power plants to obtain lower rates.
This can be taken into account in ROI calculations for renewable power plant projects: instead of losing energy produced but not used, it can be used to mine cryptocurrencies and therefore make it a more profitable investment. The market is real for the energy sector, and has been developing over several years.
One challenge of energy consumption is determining and monitoring the source of electricity that is being consumed. In the context of green contracts, for example, this can be problematic: how is it possible to guarantee to the consumer that the energy she consumes comes directly from renewable sources? Two companies, Engie and Ledger are working together on a device that guarantees the source of green energy that is produced by storing it on a blockchain which makes it possible to provide transparency to users.
These traceability capabilities can also be useful for local loops – peer-to-peer power generation networks – allowing users to exchange energy with each other. In addition, they can simplify exchanges between different operators, for example, in the case of sales of resources between countries.
It is already possible to industrialize these projects on a certain scale as shown by the collaborative work of Engie and Ledger, and the need is real for consumers. In addition, the prospects related to traceability are numerous, so this is a topic of particular interest today.
Combined with the Internet of Things (IoT), Blockchain technologies can help set up an intelligent monitoring system, which will reduce intervention time during a failure or even anticipate them. IoT accurately measures the data specific to each device, and Blockchain technologies, through their peer-to-peer protocol, can guarantee the integrity of the transmitted data. Imagine, for example, a hacker connection on a power line with a monitoring system consisting of only one IoT box: if the hacker knows about the case, he will be able to bypass it, or send false information. If we integrate this single box with others so that all the boxes of the network validate the integrity of the data – the same validation model that the Bitcoin nodes validate the blocks built by the minors – the boxes of the other equipment will then be able to reassemble the information that the equipment sends. Erroneous information will be quickly detected.
The scalability problems inherent in Blockchain technologies still make the implementation of this type of system complex, but solutions are beginning to emerge. Projects such as IOTA seek to address issues specific to interactions between Blockchain and IoT.
These are just a few cases of Blockchain technologies being used in the energy sector, there will be many more that are yet to be identified. If you would like to find out more, do not hesitate to contact us.
Blockchain and the Transport Sector: threats and opportunities
Cet article est également disponible en français. Could blockchain be used to optimise or even reduce the cost of freight? Blockchain technologies make it possible, above all, to streamline value transfers and streamline certification operations, in particular by making it possible to dispense with trusted third parties on certain processes. In the context of freight transport […]
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With the international coronavirus crisis, retail players will inevitably have to transform to prepare for the end of the crisis and meet consumers’ needs for proximity and transparency. Production chains will also have to adapt to new constraints: border closures, new regulations and even in some cases nationalization of production.
Today’s supply chain is thus being disrupted and needs to be resilient. Tomorrow’s supply chain will have no choice but to be transparent. How can new technologies address these issues? Here are three key elements to improve the resilience and transparency of your supply chain.
1. Graph bases as a performance lever
One of the main challenges of resilience is to maintain sufficient performance despite the increased load. The best way to address this point is to have a very good nominal performance, and one of the most important points for this is the data model that will be used. Today there are three main types of databases.
On the one hand, relational databases such as MySQL, Oracle or PostgreSQL that store data in tables, in a standardized way, and allow you to query them on the basis of more or less complex relationships. On the other hand, NoSQL databases that store data as they are very powerful for simple queries, but handle more complex queries with more difficulty, especially if they require relationships between objects. Finally, graph databases, such as Neo4J, differ from the first two typologies by storing data as an object and its relationships with other objects, which is ideal for logistics monitoring. We can then store our product, its relationships with its components, its location in the logistics chain at a given moment… And this, with optimal performance for the type of processing we will have to do: knowing the state of our product in real time, or being able to quickly identify the sources of anomalies in the production chain.
2. The cloud to address resilience and facilitate deployment
In exceptional cases such as the CoVid-19 crisis, when a significant part of production changes distribution mode, it is important to be able to quickly scale up supply chain monitoring tools. In this context, cloud services have an undeniable advantage: if the architecture is designed with this in mind, the cloud provider can address scaling automatically, based on demand, optimizing both the service according to the load, and the infrastructure costs.
For example, if a pharmaceutical company wants to redirect a large part of its supply chain to the production of an anti-virus treatment, it requires great agility to reconfigure all the tracking and monitoring tools to ensure reliable and error-free production. If these monitoring tools are hosted in the cloud, they will be able to easily absorb the new load, little by little, without having to order specific hardware, configure it and install it upstream.
Beyond the load-holding capacity, cloud platforms also allow smaller players to deploy their services anywhere in the world, depending on technical or legal requirements. But this agility can also be applied to larger players in the deployment of services dedicated to crisis response, for example. Via a cloud infrastructure, there is no need to wait for new servers or their configuration: the time to market is greatly accelerated.
In the real case of the laboratory that will manage to develop a coronavirus vaccine, it will not only be a question of guaranteeing a fast, efficient and reliable production chain. Because the international crisis we are collectively experiencing has reinforced our need for transparency. Because it will not just be a question of simple products, but of strategic public health solutions, we will need to be able to have visibility on these modes of production. The blockchain can today guarantee and respond to this need.
3. Improving data quality with the blockchain
Blockchain technologies enable the rapid deployment of services that can then be used by all, or by pre-identified actors, facilitating interoperability. Through the cryptographic mechanisms on which these technologies are based, it is notably possible to publicly demonstrate the integrity of information. All markets are today impacted by the coronavirus crisis, and consumer needs and habits are already evolving towards a different vision and approach. Whether we are talking about food, healthcare or other consumer products, the quality, manufacturing process and origin of the products will be much more important factors in our choices. Only brands that communicate transparently about how they are made and distributed will be able to stand out.
This will require quality and trustworthy logistics data, and blockchain technologies can be of great help. On the one hand, by facilitating the integration of all supply chain actors into a common tracking tool; on the other hand, by certifying the integrity of the data entered. In this way, we can not only improve the quantity and quality of data entered into the supply chain, by integrating all the players, but we can also improve the reliability of information feedback in the event of anomalies. In the same way, this data can be communicated to the consumer without the latter having to fear falsification, as proof of integrity can be provided through blockchain technologies.
The current global crisis not only changes our vision and consumer habits, but also forces companies to rethink their organizations, distribution channels and supply chains. Tracking tools are being put to the test, and will undoubtedly have to change rapidly, at the risk of seeing their future threatened. Thanks to technologies such as graphical databases, the cloud and blockchain, it is already possible to respond to new consumer needs and uses and thus prepare for the end of the crisis.
Find the JDN Tribune right here.
The Libra Blockchain project
The LibraCoin will be the native crypto-currency of the Libra Blockchain network and will be first integrated inside Facebook’s WhatsApp and Messenger applications.Libra is made up of three parts that will work together to create a more inclusive financial system It is built on a secure, scalable, and reliable Blockchain that offers a global, open, […]
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The first two questions are based on the core functional needs of the project. If it aims to replace a trusted third party, or to digitally transfer value, we are in the core features of blockchain technologies, so they might apply here. Otherwise, we’re better of with standard digital solutions, which will most likely be simpler and cheaper.
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The other questions are there to specify the features of the project, which will help us identify whether the project requires a public blockchain, a consortium blockchain, or if the requirements are not enough to justify the use of a blockchain project (in which case we will still be able to realize the project through standard digital applications). The requirements we identified are most of the time transparency and interoperability, in which case a public blockchain is the preferred solution. If we need to share the governance of the project, we can use a public blockchain, or might prefer a consortium one, but we need to clearly identify the governance rules, as we might be able to answer this without blockchain technologies in some cases.