Blockchain paves the way to the Internet of Value
Blockchain technology enables transactions to be done and verified between companies, private individuals or public entities virtually in real time.
Blockchain provides new ways of making business processes less susceptible to error, faster, more effective and more traceable. The upshot is lower costs, with a substantial reduction in the risk of fraud. Deutsche Bahn has long recognised the potential of this technology for its business models and is already trialling it as part of various business processes. These include the supply chain, documenting energy trading, as well as document and identification management.
How does blockchain work?
Blockchain is a distributed, decentralised database that documents in unalterable format all transactions ever made. The database is extended chronologically in linear fashion, like a chain, with new elements continually added to the end.
Once a block is complete, the next is generated. Each block includes a checksum of the previous block (the hash value). All transactions are encrypted within a block and the blocks stored on a large number of computers. All this takes place with no intermediaries or other intermediate entities. As a result, information is stored in a forgery-proof and yet transparent manner.
Blockchain rose to fame as the technology behind Bitcoin. But there is much more to it than that. Blockchain can be seen as the basic technology for "exchanging values" securely, independently of Bitcoins. Seen in Deutsche Bahn terms, blockchain would be the rails, and Bitcoin a train.
The advantages of blockchain:
- Saves time
Transaction and synchronisation times slashed from days to virtually real time
- Eliminates costs
No overhead or intermediary costs
- Reduces risk
Potential threats from tampering, fraud and Internet crime reduced
- Bolsters trust
Shared processes and recording increase reliability
The applications are varied…
As an active pioneer in the Deutsche Bahn Group, we help you to customise this technology to your process landscape. Potential applications include mapping a complete supply chain, (sub-)automation of internal accounting processes, to concluding contracts between machines and objects. We have already successfully implemented various pilot projects and understand how blockchain can significantly improve your processes. We focus on the financial as well as on the technical aspects.
Thanks to our intensive engagement and experience with blockchain, we can help you to understand this technology and apply it to your business models effectively. We offer you a range of services that are precisely tailored to your needs:
Together with you, our consultants analyse your business processes, architectures and models with an eye to deploying the blockchain technology.
- Drawing up applications, including financial considerations
- Identifying possible pilots
- Supporting you in integrating the blockchain technologies into your portfolio
- Determining the impact of the blockchain technologies on your business as well as your IT strategy
Our experienced developers implement your visions technically.
- They work hand in hand with you to develop strategy concepts
- In line with your strategy, they develop the blockchain solutions and architectures that are right for your company
We provide you with training on introducing blockchain technologies, ideally preparing you for the digital future.
In addition to learning the fundamentals, you discover the potential changes blockchain can bring and the possible applications for this technology within your company.
Find out about the architecture of blockchain.
We convey the fundamentals and applications of the blockchain technologies in a simple, understandable way, highlight pros and cons, explain the disruptive element by taking use cases as examples, and together deliver blockchain-based business models.
Working with our experts, you will draw up the following in interactive creative meetings and sessions:
- Analysis of the challenges and opportunities that the blockchain technologies hold for your business
- Investigation of the potential for optimising your business model and your business processes with blockchain technologies
- Practical experience with blockchain technologies
- Use cases for your company
What can we do for you?
Get in touch with us – we will be happy to advise you.