26 Sep Assetchain On Evolving Business and Technology Sectors with Hyperledger Fabric
Today, Hyperledger Fabric is one of the most popular blockchain framework which allow business networks to make new opportunities and improve efficiency, innovation, and growth while reducing the risk of business-related operations.
This framework was just launched in 2017 and one of the Hyperledger projects hosted by Linux Foundation and is still developing up until now; that aims to use public networks for business-to-business use cases.
These are the 5 main reasons why Hyperledger Fabric is the most suitable platform for Acudeen’s AssetChain business case:
1. Privacy and Security. Hyperledger Fabric uses “Channel” mechanisms that enable two or more network members communicate and pass transactions privately. Unlike any other traditional blockchain networks where anyone can start transactions, in Hyperledger Fabric proper sending of authentication detail is a must before interactions would occur. With this, only those who are exclusively affiliated with transactions will be informed, thus; making business deals private and secured.
2. Language. Hyperledger Fabric doesn’t need an experienced developer with profound knowledge of Solidity. Aside from GoLang, Hyperledger Fabric support NodeJS or Java for example where most developers are familiar with.
3. B2B Solution. Hyperledger Fabric solves performance scalability and privacy issues by permissioned mode of operation. We prefer to use this kind of operation because it fits the business’ needs in terms or privacy and confidentiality. Since the AssetChain is a B2B oriented ecosystem where multinationals and SMEs are key players, Hyperledger Fabric is the best ingredient for the use cases.
4. Flexibility. This platform is the first and only blockchain framework that allows organizations to support numerous use cases for different businesses and industries and has already been successfully implemented in different industries. We have chosen Hyperledger Fabric because this possibly integrates additional layers on the platform. This will also allow the platform to adapt in various environments, both on business and technological sides.
5. IBM. Since they ar`e the known developers behind Hyperledger Fabric, you can be assured that this project is not going to be abandoned soon. Their team is working hard to bring enterprise-grade technologies for blockchain use beyond the basic cryptocurrency applications. In addition to that, Acudeen’s current Human Resources capacity which are composed of Top Engineers are working with IBM to learn and find synergies to make this project a success.