Blockchain review

BOND project (Blockchains Boosting Finnish Industry) report

Research output: Book/ReportReportProfessional

Abstract

Blockchain is a decentralized transaction and data management technologydeveloped first for Bitcoin cryptocurrency. The possibilities of the blockchaintechnology has inspired and fueled an entire ecosystem around it, focused onfully unleashing its potential. The area has had exponential growth in the pastcouple of years, leading to a number of platforms, applications, startups,projects and research around this new invention. Several companies and publicorganizations/foundations develop blockchain platforms that are mostly opensourced. The platforms enable fast prototyping, development and deployment ofnew blockchain applications. There are also new kind of platforms underdevelopment all the time, including Industrial Internet of Things based on theblockchain technology. The feasibility of blockchain technology depends on theuse case where it will be applied. The use case should have clear needs fordatabase shared by multiple parties and multiple writers, consensus, interactingmodifications, trust and undesirability for intermediation. Blockchain technologyhas the potential to improve the efficiency and security of transactions andrecord keeping across a variety of mainstream processes and regulatedindustries. Most of the realized use cases of the blockchain relate to the financialsector, but there are many non-financial use case ideas that might realize in thefuture.
Original languageEnglish
Place of PublicationEspoo
PublisherVTT Technical Research Centre of Finland
Number of pages55
ISBN (Electronic)978-951-38-8649-3
Publication statusPublished - 2017
MoE publication typeNot Eligible

Publication series

NameVTT Technology
PublisherVTT
No.330
ISSN (Print)2242-1211
ISSN (Electronic)2242-122X

Fingerprint

Patents and inventions
Ecosystems
Information management
Industry
Electronic money
Internet of things

Keywords

  • blockchain
  • blockhain platform
  • distributed ledger
  • consensus
  • blockchain use case

Cite this

Backman, J., Valtanen, K., Laikari, A., Vallivaara, V., & Ilomäki, J. (2017). Blockchain review: BOND project (Blockchains Boosting Finnish Industry) report. Espoo: VTT Technical Research Centre of Finland. VTT Technology, No. 330
Backman, Jere ; Valtanen, Kristiina ; Laikari, Arto ; Vallivaara, Visa ; Ilomäki, Juuso. / Blockchain review : BOND project (Blockchains Boosting Finnish Industry) report. Espoo : VTT Technical Research Centre of Finland, 2017. 55 p. (VTT Technology; No. 330).
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Backman, J, Valtanen, K, Laikari, A, Vallivaara, V & Ilomäki, J 2017, Blockchain review: BOND project (Blockchains Boosting Finnish Industry) report. VTT Technology, no. 330, VTT Technical Research Centre of Finland, Espoo.

Blockchain review : BOND project (Blockchains Boosting Finnish Industry) report. / Backman, Jere; Valtanen, Kristiina; Laikari, Arto; Vallivaara, Visa; Ilomäki, Juuso.

Espoo : VTT Technical Research Centre of Finland, 2017. 55 p. (VTT Technology; No. 330).

Research output: Book/ReportReportProfessional

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Backman J, Valtanen K, Laikari A, Vallivaara V, Ilomäki J. Blockchain review: BOND project (Blockchains Boosting Finnish Industry) report. Espoo: VTT Technical Research Centre of Finland, 2017. 55 p. (VTT Technology; No. 330).