This is a Charles Brett’s start-of-the-week Enterprise Times ‘blockchain catch-up’ Week 16. Necessarily it is idiosyncratic and selective.
It is not intended to be comprehensive but does seek to highlight ‘Quick Takes’ on specific developments as well interesting pieces to read, a listing of some (not all) announcements/press releases and pointers to upcoming events.
Quick Takes – Charles Brett’s Blockchain Catch-up Week 16
Unlocking blockchain RoI: UT study examines opportunities, limits
A new study – When is(n’t) blockchain right? – from the Global Supply Chain Institute (GSCI) examines whether and where blockchain is relevant for businesses. “The only thing certain today is that uncertainty will continue,” says Alan Amling, GSCI fellow at the University and Tennessee, Knoxville’s Haslam College of Business, an author of the report.
GSCI undertook multiple case studies and interviews with leaders from a broad range of industries. The objective was to discover the current benefits and limitations of blockchain. The resulting report:
- breaks down the terminology and structure of blockchain technology
- seeks to help supply chain management professionals understand how they might blockchain
- examines how organizations are using blockchain
- explores they (management and supply chain professionals) might know if blockchain will enhance business.
“Determining the ROI of blockchain can be challenging for many supply chain management professionals, who usually haven’t fully explored its capabilities and compared them to their business models,” co-author Randy V. Bradley, associate professor of supply chain management at Haslam, says. “Too many businesses waste time and effort on blockchain archetypes for problems that already have solutions in the market.”
Quick Take: the conclusion says: “You’re now ready to ‘cross the jungle’ between blockchain theory and implementation. Use the Blockchain Screener along with the 15 questions in the Decision-Support Framework to map out blockchain opportunities with your colleagues. Before you know it, you too will have created a path through the jungle that can be easily followed!” These are bold claims. But enterprises can, at no significant cost to themselves, cast a wary eye on whether they wish to pass down the blockchain highway.
Can a blockchain be green?
A new blockchain research report, from Power Transition, looks at the energy efficiency of some of the most prominent blockchain networks for applications. The results are attention-grabbing. Bitcoin and Ethereum use the same energy per year as entire countries (for example, Ireland and Argentina). Yet, not all blockchains are built equal. Some prove to be much more sustainable.
To put this in context, Power Transition is a decentralised peer-to-peer energy marketplace. Power Transition’s report exploits its experience with renewable energy projects and different Distributed Ledger Technology (DLT) networks.
Quick Take: the report’s conclusion says blockchain (and even a decentralised web) are not be feared. While, at least to date, blockchain energy consumption is excessive, this does not mean this is unimprovable. Newer, more efficient networks (for example, Hedera) and improvements to others (like Ethereum) have the potential to function in a greener future. What matters, the report argues, is consideration of the sustainability of any network you might choose. For a network to be truly sustainable, it suggests you should assess for each blockchain:
- the economic, social and environmental impact(s)
- the governance model and whether and/or how will dictate its environmental impact.
7 pieces to read – Charles Brett’s Blockchain Catch-up Week 16
- Bank of England boosts payments competition with new account
- Is the central bank panic about the PBOC coin justified? (paywall)
- UK considers creating central bank digital currency (paywall)
- Blockchain: time-stamping, smart contracts and time-stomping
- LVMH, Richemont and Prada unite behind a blockchain consortium (paywall)
- Chainstack’s Enterprise Blockchain Protocols Evolution Index 2021
- ECB report examines the use of DLT in post-trade processes.
Selected announcements/press releases/opinions – Charles Brett’s Blockchain Catch-up Week 16
- The top 50 countries most interested in cryptocurrency (blog)
- Eftpos reveals plans to power Australian smart cities with blockchain tech (comment)
- RapidRatings and Trust Your Supplier announce the integration of supplier profiles with The FHR Network (announcement)
- Bahamas ranked first for retail CBDC development, according to PwC (comment)
- Deutsche Telekom invests in blockchain payments platform Celo (announcement)
- Blockchain technology and the inherent impact on taxes (opinion)
- Smart contracts market size to reach US$345M by 2026 (with CAGR of >18%) (report).
Selected upcoming events
- Polkadot Decoded (20th May 2021)
- Blockchain Fest 2021 (10th-11th June 2021)
- Global DeFi Summit 2021 (24th June 2021)
- Blockchain Conference/Blockchain Expo Europe 2021 (23rd-24th November 2021)
- LA Blockchain Summit (November 2nd-3rd, 2021)
- Blockchance Europe 2021 (8th-10th December 2021 – was July 7th-9th, 2021).