Block Chain

Block Chain in pure technical definition is a "distributed, decentralized, public ledger".

In common terms, it is nothing but a set of digital information (aka blocks) stored in a public database (aka chain). It is a new means of record keeping, a digital ledger to keep a record of digital transactions. What makes it unique is that the ledger is shared and hence maintained and verified by several sources simultaneously. This ensures data integrity and avoids situations where data is compromised because the single source of the information is corrupted, manually altered or hacked.

Conventional data engines and enterprise systems also store information in a database which brings the questions

"What is the difference between conventional data storage and blockchain?"

CONVENTIONAL DATABASE

BLOCK CHAIN DATABASE
  • Single source of record keeping
  • Managed by an administrator and centralized
  • Database support CRUD operations (Create / Read / Update and Delete)
  • The data source can be altered / changed or hacked. This causes data loss.
  • Data is private and only the admin can decide which can be accessed publicly.
  • Conventional databases are easy to install, operate and maintain.
  • Databases are extremely fast and offer great scalability.
  • BLOCK CHAIN DATABASE
  • Shared Ledger and data is distributed
  • Distributed and hence not managed by a single administrator
  • In Blockchain you cannot update or delete a block. You can only add and read blocks.
  • All data sources cannot be altered.Even if one data source is altered the majority of the sources have the correct data and will validate and ensure the data integrity.
  • Blockchain offers complete transparency.
  • Blockchain is comparatively harder to install, operate and maintain.
  • Blockchain is distributed and hence is slowed because of the verification and consensus processing.
  • So, who is the winner ?

    Both BlockChain and Conventional Databases have their strengths and weaknesses. We cannot conclude that one of them is a winner because they are designed for implementation of different category of systems.

    Conventional database usecase

  • Systems that need continuous processing and realtime data flow.
  • Systems that need to be responsive and fast.
  • Systems that need to store confidential information
  • System where data has a hierarchy and relational structure.
  • System where lot of information has to be stored.
  • BlockChain Usecase

  • Systems that involved monetary transactions
  • System that trust based transactions like contracts
  • Systems that need data integrity like voting systems
  • Secure sharing of private data like medical information
  • Logistics and Supply Chain tracking
  • Real estate processing of title deeds
  • Buyer and Seller Escrow systems
  • Original content storage and validation
  • Royalties and income tracking
  • Money tracking systems
  • Block Chain Case Study

    Airline Parts Tracker

    A block chain based end to end life cycle tracking system for airline parts.

    Detailed Case Study

    Customer

    One of the largest airline manufacturer in the world.

    Industry and Context

    In the airline manufacturing industry tracking of the lifecyle of each part starting from a nut is very important. The information about when the part was manufactured, by whom, when it was installed and when it came for servicing or repairs etc have to be tracked.

    Problem

    There is no fool proof and immutable mechanism to store the life cycle tracking of the parts used in an aircraft. There is no way to get a reliable information on the history of a part starting from it original manufacturing till the current date. This causes lack of clarity to perform preventive maintenance or analyze any airline crashes or any other investigation.

    Solution Provided

    MacAppStudio created an immutable digital ledger in the form or a private block chain for public use within the airline organization. During each stage of the life cycle of the part, it will be scanned and the action performed on it along with other details like the date /time and the worker details will be documented as a block. Each action on the part will be a block on the chain and new actions will be added to this continuously.

    Technology Used

    Results

    The solution provided created a huge level of transparency and accurate and immutable tracking of airline spare parts. This solution greatly helps in assuring quality of the spare parts and the safety of air travel all over the world.

    Do you need a Blockchain solution for your business?