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Looking into our business world, it is wall-to-wall blockchain technology and application — no wonder it become the most sought-after new technology in the IT industry. But what is more fascinating is that this technology can address the trust and security issues of today, despite its unpredictable and boundless possibility. In practice, how can we deploy and apply blockchain into business operations?
Blockchain technology is a decentralized database model for processing and storing data, and it can be found in the banking industry and the manufacturing industry, almost everywhere. What distinguishes blockchain from other technologies is its "tamper-proof, manipulation-resistant and highly traceable" features.
Unlike traditional, centralized database systems that run on central servers, blockchain requires no middleman to operate in various application scenarios primarily due to its distributed ledgers. Without intermediaries, the transactions can be easily completed between the parties on the same supply chain, improving transaction transparency. With its high traceability, enterprises are allowed to access the real-time status of transactions, products and data, and it is assured by its non-manipulative property, which guarantees all the on-chain information is transparent and integral. In terms of auditing processes, blockchain will greatly reduce human errors such as missing information and miscalculation.
In response to the immense potential of and rising market demand for blockchain technology, CITIC Telecom CPC has commenced the start of blockchain 3.0 development. The provision of a highly private and protected blockchain system for one of our clients, with more than 10 nodes built in-house and operated through the Hyperledger Fabric platform enables decentralized management and business operation.
This system reduced the risks of counterfeits entering supply chains because users can verify the authenticity of internal documents and ensure authorized parties on the same supply chain can share and track data. Besides, specific agreements and terms can be written into programs and saved in the system, then the actions will be executed automatically when predetermined conditions are met, which is known as smart contracts. Enterprises can be certain of accurate transaction settlement and audit and the absence of frauds, securing the legal compliance in the production process.
With SmartCLOUD™ Container service, CITIC Telecom CPC’s self-built node deployment need not take days but can be completed within just a few minutes. It is no longer a fantasy to deploy blockchain in an instant.
Given the rising maturity of the core technology of blockchain, it is still inevitable for enterprises to encounter technical challenges when self-deploying blockchain. Thanks to its keen sense of the market, CITIC Telecom CPC offers highly customizable blockchain solutions, which are decentralized enterprise-level applications that meet enterprise business needs and scenarios, empowering enterprises to embrace the advanced technology ahead of others. Please feel free to consult our blockchain experts to learn more.
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