Blockchain is not just for techies

It’s also essential to have knowledge of both the foundational development aspects (of Ethereum, Hyperledger Fabric and Composer) and functional …
NEW DELHI: Blockchain technology has gone far beyond its association with crypto currency and is finding relevance in a variety of fields including banking, healthcare and logistics.

Blockchain is particularly useful when cross-organisational data is involved. The technology makes it near impossible to modify the data, and that enables trust within the network of organisations involved.

In India, over 14 states, including Karnataka, Andhra Pradesh and Telangana, are running blockchain pilots and projects, and various organisations that have traditionally been competitors are coalescing into industry consortiums to leverage the technology.

Blockchain in India is still in its initial stages, says Manish Jain, partner, digital and fintech, KPMG India. “We could see hiring happening more at the senior architect level. Mass hiring is still some time away,” he says.

Digital lending company CredRight’s co-founder Neeraj Bansal says the startup has been looking for Ethereum (blockchain-based platform) developers who can work with other blockchainbased third-party products. “The demand for blockchain developers and project managers is very high, but availability of talent that can guide startups is very limited,” he says.

Who should upskill?

Blockchain technology is relevant for coders who could look to build blockchain products. It is also relevant for tech managers/ project managers/ tech architects looking at product development and architecting solutions.

It is relevant for banking and finance, legal and other professionals who are evaluating use cases for blockchain application.

Blockchain coders need to have coding experience, preferably in Java, and a good sense of mathematics. It’s also essential to have knowledge of both the foundational development aspects (of Ethereum, Hyperledger Fabric and Composer) and functional aspects (hands-on projects and case studies).

Mayank Kumar, co-founder of edtech platform upGrad, says while the majority of the learners who enrol for the blockchain programme is from tech backgrounds, 30% are finance professionals and 10% are healthcare professionals. “We have seen over 120% quarterly rise in enrollments for our programme launched in September 2018,” he says.

Job roles

Development enthusiasts: Professionals with 2-5 years of experience who aim to understand, develop and deploy the network from scratch. They are wellversed in development platforms like Hyperledger and Ethereum.

Tech architects: Professionals with 7-10+ years of experience in the IT industry, with a strong affinity towards development and implementation of technology.

Blockchain managers: Professionals who have spent over 10 years in the IT industry and who understand the business applications of the technology, and are domain experts

RACE360 Conference

If you are thinking of a career in emerging technologies like blockchain, cybersecurity or artificial intelligence, you should be at RACE360, an emerging technology conference in Bengaluru organised by REVA Academy for Corporate Excellence (RACE) and supported by The Times of India. Among the speakers are Dilip Khandelwal, MD, SAP Labs; Deep Thomas, chief data and analytics officer, Aditya Birla Group; Vishal Salvi, CISO and head of delivery cyber practice, Infosys; Pravin Hungund, CTO, Wipro; Sandeep Vijayaraghavan, VP, cybersecurity practice, Terra Logic; and many more. Apart from the knowledge sessions, there will be workshops, hackathons and panel discussions.


Who should attend: Working professionals


Where: Hotel Lalit Ashok, Bengaluru


When: August 28


To register, log onto: www.race360.in

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Off The Block: IBM Joins Hedera Hashgraph Governing Council

IBM isn’t just about blockchain anymore. In addition to their joint efforts with Hyperledger Fabric and World Wire, Big Blue is now pitching in for a …

IBM isn’t just about blockchain anymore. In addition to their joint efforts with Hyperledger Fabric and World Wire, Big Blue is now pitching in for a different form of DLT: Hedera Hashgraph. The tech giant is now joining Hedera’s Governing Council, along with Tata Communications and a growing cast of council members.

The Governing Council will comprise up to 39 organizations, which currently include Nomura Holdings, Deutsche Telekom, DLA Piper, Magazine Luiza, and Swisscom Blockchain, along with a variety of companies from a diverse range of industries. By joining, IBM hopes to ensure decentralized and responsible governance for the distributed ledger platform.

The addition of IBM and Tata Communications “is a powerful endorsement of the hashgraph consensus mechanism, and further decentralizes the governance of Hedera Hashgraph,” said the CEO of Hedera Hashgraph, Mance Harmon. The Hedera governance model, he explains, “ensures power can’t be consolidated, while at the same time providing a stable and scalable platform on which developers can build.

SIMETRI ResearchSIMETRI Research

Hedera’s Governing Council eliminates the possibility of forks occurring on the platform, with each member having an equal say in updates and policies for Hedera’s network nodes. Each council member may serve a maximum of two consecutive three-year terms.

Jerry Cuomo, Vice President of Blockchain Technologies at IBM, says that the company represents a chance to explore relationships between public and private ledgers. Touting Hyperledger as the “de facto standard” for enterprises to design and deploy distributed ledgers, he believes Hedera could “enhance and simplify the deployment of Hyperledger Fabric in the enterprise, making it easier for groups to build and grow their networks.

Ankur Jindal, Global Head of Corporate Venturing and Innovation at Tata Communications, explained how his company can contribute to Hedera as a global digital infrastructure provider. Innovations in DLT, AI, and IoT can change the way the world interacts, he explained. “These emerging technologies can be harnessed to strengthen our efforts to improve operational efficiencies and enable our customers’ digital transformation worldwide.

Tata Communications will contribute to the council in an effort to “help deliver the potential of DLT to the wider digital economy,” Jindal added.

Hashgraph CEO Harmon expressed the vital role of distributed ledger technology “to the future of digital trust and commerce.” Hedera’s Governing Council, he explained, “lays the foundation for a fair and stable commercial platform,” allowing Hashgraph’s distributed consensus model to provide strong security and high performance for enterprise adoption.

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Seagate to Launch Blockchain Supply Chain Tracking Pilot with IBM

The company has developed a blockchain platform called Hyperledger Fabric, a permissioned blockchain targeted at enterprises. The company is …

Data storage giant Seagate is collaborating with IBM on blockchain-based supply chain tracking solutions. As reported by Forbes contributor Benjamin Pirus, Seagate and IBM have completed the proof-of-concept stage and are now moving onto a pilot implementation. The pilot is designed to test whether the project can scale to the extent required by Seagate.

According to Seagate research group managing technologist of data security Manuel Offenberg, the goal of Seagate and IBM’s blockchain partnership is to reassure customers that the Seagate products they receive are genuine and were manufactured and sent by Seagate themselves. For the purposes of the pilot, IBM will be serving as the customer. Offenberg explained:

“In this case, IBM is both the customer of these drives, as well as the technology provider for the underlying Hyperledger Fabric platform.”

Seagate could also use blockchain technology to ensure that returned hard drives (for example, drives that are defective) have no personally identifiable data on them.

“When a drive fills in a customer’s system and the drive comes back as part of its returns process, if we can prove that the drive was cryptographically erased, and therefore, the information is no longer on the device, then, from a risk perspective, this reverse supply chain can treat that device differently.”

As we know, IBM is one of the leading proponents of blockchain technology for enterprise use. The company has developed a blockchain platform called Hyperledger Fabric, a permissioned blockchain targeted at enterprises.

The company is also working with the Stellar Foundation, and has developed a cross-border payment solution called IBM World Wire that leverages the Stellar protocol.

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Blockchain in Media and Entertainment Market Revenue Growth Predicted by 2019-2024

By platform, the market has been segmented into Bitcoin, Ripple, Ethereum, R3 Corda, Hyperledger, MultiChain, and others. Among these the Bitcoin …

Global Blockchain in Media and Entertainment Market: by Type (Public, Private, Consortium), by Platform (Bitcoin, Ripple, Ethereum, R3 Corda, Hyperledger, MultiChain and others), by Organization Size (Large Enterprises and SMEs), by Application (Content Security, License & Rights Management, Smart Contracts, Payments, Digital Advertising, Royalty Distribution, Online Gaming and others), by Region (North America, Europe, Asia-Pacific and Rest of the World) – Forecast till 2024

Overview

According to Market Research Future, the global blockchain in media and entertainment market has been segmented on the basis of type, platform, organization size, and application.

As an emerging technology for decentralized and transactional data sharing, blockchain has enabled many media companies to store digital records, exchange digital content and implement smart contracts. Blockchain in media and entertainment industry can help worldwide media, advertising, and entertainment organizations to fairly distribute royalty payments with the help of distributed ledger. Further, blockchain technology facilitates transperency of data by providing a public ledger for all the transactions that can be validated real-time. With the help of cryptography blockchain can secure all the transactions eliminating the interference of any third party authority. In November 2019, New-York based media and entertainment company named Littlstar Media, launched Ara, a new blockchain-based platform designed to provide content creators and artists more control over their content. Ara is a suite of blockchain-based protocols that is designed to decentralize the ownership of content such as games, movies, music and images with the help of tokens for authenticating transactions among content creators, publishers and customers. Moreover, an integrated blockchain-based platform reduces the content piracy and copyright infringements and offers effective digital rights management solutions for the media and entertainment enterprises.

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Key Players

The Prominent Players in the market of Global Blockchain in Media and Entertainment market are – Infosys Limited, Bitfury USA Inc., Factom Inc., GuardTime, AS, Auxesis Group, IBM Corporation, Microsoft Corporation, SAP SE, Amazon Web Services, Accenture PLC, Oracle Corporation, Nyiax Inc., MetaX, BTL Group, Voise, and ClearCoin.

Regional Analysis

The market for global blockchain in media and entertainment is estimated to grow at a significant rate during the forecast period from 2019 to 2024. The geographical analysis of blockchain in media and entertainment market has been studied for North America (the US, Canada, Mexico), Europe (the UK, Germany, France, Spain, Italy, the rest of Europe), Asia-Pacific (China, Japan, India, Singapore, Australia, the rest of Asia-Pacific), and the rest of the world (the Middle East and Africa and South America).

At present, North America holds the largest market share due to the growing adoption of blockchain in media and entertainment among enterprises for better employee engagement and workforce collaboration. Among the North American countries, the US accounts for the largest market share due to rising implementation of collaboration tools within large enterprises as well as SMEs in the advertising industry. Europe accounted for the second-largest market share due to rising adoption of blockchain in media and entertainment solutions in countries such as the UK, Germany, France, Spain, Italy, and Sweden. Asia-Pacific accounted for the third-largest market share and is expected to attain the highest growth due to the adoption of blockchain in media and entertainment solutions in China, Japan, India, Australia, Singapore, South Korea, and other Asian countries. South America and the Middle East & Africa region is expected to achieve a substantial market growth with key players focused on investing in this region to offer blockchain in media and entertainment services to small- and medium-sized enterprises.

Segments

By type, the Blockchain in Media and Entertainment Market is segmented into public, private and consortium. Among these, the current market is dominated by public blockchain due to being open and transparent with decentralized consensus mechanisms such as proof of work (POW) and proof of state (POS). Bitcoin and Litecoin blockchain are examples of popular public blockchain.

By platform, the market has been segmented into Bitcoin, Ripple, Ethereum, R3 Corda, Hyperledger, MultiChain, and others. Among these the Bitcoin platform accounts for a greater share owing to its wide scale adoption followed by Ethereum as it is an open blockchain platform letting users to build and use decentralized applications running on blockchain technology. Hyperledger platform is expected to grow at a higher rate during the forecast period owing to its rising applications.

By organization-size, the market has been segmented into large enterprises and SMEs. Among these, the market is dominated by large enterprises due to a large number of applications of blockchain in large media enterprises such as Sony Music Entertainment. The growing number of retail SMEs are expected to implement blockchain at a faster rate to streamline their business processes.

By application, the market has been segmented into content security, license & rights management, smart contracts, payments, digital advertising, royalty distribution, online gaming and others. Among these, the license & rights management segment accounts for larger market share owing to adoption of blockchain for digital rights management by large enterprises such as Sony Music Entertainment to build a digital rights management system. The smart contracts and royalty distribution segments are expected to register a high growth rate during the forecast period due to media and advertising enterprises adopting blockchain for smart contracts and royalty distribution.

LIST OF TABLES

Table1 Global Blockchain In Media And Entertainment Market: By Country, 2019–2024

Table2 North America: Blockchain In Media And Entertainment Market: By Country, 2019–2024

Table3 Europe Blockchain In Media And Entertainment Market: By Country, 2019–2024

Table4 Asia-Pacific Blockchain In Media And Entertainment Market: By Country, 2019–2024

Table5 Middle East & Africa Blockchain In Media And Entertainment Market: By Country, 2019–2024

Continued……

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LIST OF FIGURES

FIGURE 1 Global Blockchain In Media And Entertainment Market Segmentation

FIGURE 2 Forecast Methodology

FIGURE 3 Porter’s Five Forces Analysis Of Global Blockchain In Media And Entertainment Market

FIGURE 4 Value Chain Of Global Blockchain In Media And Entertainment Market

FIGURE 5 Share Of The Blockchain In Media And Entertainment Market In 2019 , By Country (In %)

Continued…….

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MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

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Mindtree unites with Hyperledger to enhance blockchain development

Mindtree, a company called “born digital,” has joined Hyperledger, a provider of blockchain technologies for business. Where Mindtree delivers digital …

Mindtree, a company called “born digital,” has joined Hyperledger, a provider of blockchain technologies for business. Where Mindtree delivers digital transformation and technology services from ideation to execution, Hyperledger is an open-source collaborative effort to advance cross-industry blockchain technologies.

Madhusudhan KM, chief technology officer, Mindtree, said, “Enterprises are seeing the strategic value and want to adopt Blockchain to reimagine some of the current process areas and implement futuristic solutions. With this membership, we will be able to assist our customers in realizing their vision in implementing these solutions,”

Mindtree had made investments in blockchains since 2016, and Hyperledger has been a significant part of the finances. It will join as a general member and will be able to raise the progress of its abilities in addition to providing industry-specific blockchain solutions to its clients. Being a general member, Mindtree will have access to the training materials, whitepapers, use cases, and solutions shared through the community system.

KM also said that to build strong domain expertise around enterprise Blockchain-based solutions that give improved transparency, security, and traceability to their clients across many industries including retail, manufacturing, banking, insurance, airlines & hospitality, uniting with Hyperledger will further extend the company’s efforts.

Hyperledger is hosted under the Linux Foundation and is a multi stake-holder with 14 business blockchain and diverse ledger technologies. Brian Behlendorf, executive director, Hyperledger acknowledged the collaboration and stated, “Mindtree’s large global footprint and ongoing investment in developing blockchain expertise make it a natural fit for our growing community. As enterprise blockchain adoption accelerates, companies that are committed to helping companies put the technologies into production will be a vital part of the ecosystem. We welcome the work Mindtree will do on this front.”

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