Enterprise Blockchain: Blockchain Applications for Businesses

Enterprise Blockchain is a topic that is becoming increasingly important and relevant. It is somewhat ironic how blockchain, which was born in a cypherpunk and anarchic environment, is gradually becoming relevant for businesses, especially those that need to coordinate in an inter-company process context.

There is an obvious dichotomy between open, permissionless blockchains and closed, permissioned blockchains.

Although companies today have a preference for closed blockchains, also known as Distributed Ledger Technologies (DLT), it is increasingly clear that the two models are destined to coexist in an architecture of the Internet of Blockchains, and the game will be played at the border between the two models.

This is why, especially on the web, there is growing talk of Enterprise Blockchain.

The dynamics of the finance sector, which is an early adopter of these technologies, is emblematic. On the one hand, banks and financial intermediaries are adopting DLT such as R3 Corda, which allows them to obtain benefits in terms of reconciliation and automation of interbank processes, such as payments.

On the other hand, the most experimental innovation is happening in the field of open blockchains, especially Ethereum, and the so-called Decentralized Finance (DeFi) that naturally appeals to Gen Z and subsequent generations. In the context of the growth of DeFi, we have witnessed the emergence of new business models such as liquidity pools, yield farming, decentralized exchanges, staking, and automatic market makers.

In the continuation of these articles related to the topic of Enterprise Blockchain, we want to show both the perspectives of companies that are trying to incorporate blockchain to create new business models, and the challenges that come from the “crypto world” and create increasing competitive pressure on the system.

This is a long-term game, in which important issues such as privacy, personal data protection, security, the role of regulators, and the regulatory context play a significant role.

The game between open and closed blockchains is just beginning, and one day we will live in a world where closed blockchains of organizations, seen as “islands of trust,” will have to integrate with “open” blockchains to create an Internet of Blockchains, where technologies such as zero-knowledge proof and multi-party computation will play a fundamental role in preserving our privacy.