Enterprises are exploring the immense opportunities of DLT and blockchain, and they acknowledge the strategic and long-term benefits of this disruptive technology. However, there are various challenges associated with DLT and blockchain that need to be mitigated before they are adopted by enterprises. This section summarizes the challenges faced by DLT and the opportunities it offers.

This section covers the main challenges of the adoption of DLT.

The perceived immaturity of the underlying technology...

The evolution of a human being to being able to understand exchanging value has its roots in the level of uncertainty. The greater the uncertainty, the less the trust in the exchange of value. The higher the certainty, the greater the exchange of value. There are various traditional challenges that blockchain tries to solve, such as trust, intermediaries, confidentiality, robustness, resilience, and availability. Let's go over them now:

• Trustless: When you deal with a centralized system, you place trust on the system and the underlying set of people and machines that are responsible for taking care of the system and its security. Your inherent trust is in the organization you are dealing with. For example, we are using an email service for many years and sometimes send important personal emails as well. We have inherent...

This section will cover the details around designing a blockchain solution to build a business network. Many enterprises, entrepreneurs, and organizations are analyzing blockchain. They are adopting blockchain to gain transactional speed for business-to-business transactions, store information in an immutable way, and share it securely. For businesses, blockchain is a platform where peers exchange values via transactions, without the interference of a central arbitrator. All of this is good; however, where should we start? This section covers defining a design strategy for blockchain.

I have used the following terms from my book, We Wake With Noah, and found it interesting that the self-improvement concepts I explored in that book can be applied to technology as well :

DLT, like blockchain, is exemplified as one of the most disruptive technological advancements of this century. Although there are many regulatory challenges that it needs to overcome before being part of the majority, there are various properties of blockchain that make it truly revolutionary. It is the properties of blockchain that offer numerous potential for various industries. In this section, we will talk about blockchain properties and the use cases that are catalyzed by those properties.

With the immense success of blockchain's first application, Bitcoin, and then the emergence of Ethereum and Hyperledger, enterprises, organizations, industry leaders, entrepreneurs...

Broadly speaking, blockchain is an ideal use case for the decentralized consensus on ledgers that are appended by themselves on agreed transactions that are non-commutative. In this section, I'm going to categorize blockchain use cases into a few categories; however, I believe that there are millions of use cases, which is the result of non-commutative state transition functions. The listed categorization of use cases is exhaustive.

Let's start by simply putting the definition of blockchain into an equation:

When is the timeline, while How much is the quantity. However, What, is the topic of discussion here. My efforts to categorize blockchain are centered on What and Who.

WHAT: What represents the assets; essentially, the scarce assets that are valuable. Assets such as identity, currency, land title...

In the Design strategy section, we tried to define a design strategy for a blockchain-based business solution, which has five steps: explore, engage, experiment, experience, and influence. In this section, we will concentrate on the first step. In this step, we will explore a few blockchain use cases. They are as follows:

• Real property registry and transfer of ownership
• Know your customer
• Invoice factoring

Real properties are recorded and maintained by governments, mostly at the local government level. For example, a country assessor is responsible for recording and maintaining the country's property records. Although a few countries...

In the Design strategy section, we tried to define a blockchain design strategy that consists of five steps: explore, engage, experiment, experience, and influence. In this section, we will concentrate on the second step. During this step, we will engage with one of the use cases we defined in previous section. Chapter 5, Managing Solution on Oracle Blockchain Platform, and Chapter 6, Developing Solutions on Oracle Blockchain Platform, take care of experimenting with the solution. There, we will define another use case and try to build the chaincode for the solution. We will also set up and configure a blockchain network to run the chaincode and use integration via REST to connect with the chaincode.

In this chapter, while engaging with the use case, we will start by defining the flow—first the as-is flow and then the to-be flow. We have covered...

This chapter highlighted the challenges and opportunities of DLT and blockchain. This chapter also drilled into various properties of blockchain and how those properties are upheaving the usage of blockchain in various scenarios. In this chapter, we also delved into modeling a use case and demonstrated the integration aspects and infrastructure for implementing a use case. The Design strategy section mentioned the five stages of this—explore, engage, experiment, experience, and influence. We also covered the initial two stages (explore and engage) of the design strategy. We explored the design strategy by examining various use cases, justifying the adoption of blockchain, and also tried to formulate an equation to justify/quantify the employment of blockchain for a given use case. Later, we engaged in the design strategy by defining a blockchain-based business network...