Block chain technology use case in commercial system

What is block chain?

Block chain is a specific type of database.It differs from a typical database in the way it stores information; block chains store data in blocks that are then chained together. As new data comes in it is entered into a fresh block. Once the block is filled with data it is chained onto the previous block, which makes the data chained together in chronological order.Different types of information can be stored on a block chain but the most common use so far has been as a ledger for transactions. In Bitcoin’s case, block chain is used in a decentralized way so that no single person or group has control — rather, all users collectively retain control.Decentralized block chains are immutable, which means that the data entered is irreversible. For Bitcoin, this means that transactions are permanently recorded and viewable to anyone.

Food chain system

In daily life, we surrounded by some food quality related problem. food comes from where ? Some companies that have already implemented block chain include Walmart, Pfizer, AIG, Siemens, Unilever, and a host of others. For example, IBM has created its Food Trust block chain to trace the journey that food products take to get to its locations

Why do this? The food industry has seen countless outbreaks of e Coli, salmonella, listeria, as well as hazardous materials being accidentally introduced to foods. In the past, it has taken weeks to find the source of these outbreaks or the cause of sickness from what people are eating.

Using block chain gives brands the ability to track a food product’s route from its origin, through each stop it makes, and finally its delivery. If a food is found to be hazardous materials then it can be traced all the way back through each stop to its origin.

Coffee drinkers today consume more than half a trillion cups per year, and two third of consumers aged 19–24 survey say they prefer to buy coffee that is sustainably grown without any process on it. But the large and global supply chain makes tracking of coffee is difficult because there is different stops between the farmer and consumer like producer, distributer, grocer and sometimes importer — exporter and shipper may placed.

So we can get one of this problem’s solution using block chain. In that farmer connect is employing a digital identity app “Thank My Farmer” with consumer and the block chain technology behind IBM Food Trust to allow coffee drinkers to trace their coffee from farm to cup. Consumers scan a QR code on the coffee package, and the “Thank My Farmer” app pulls information directly from the block chain.[3] It connects the user to farmers, traders, roasters and brands. The information is presented on an interactive map, allowing each product to tell a story in a simple and scalable way.

The Slow Food presidia supports and promotes traditional produces, maintaining the ancient food traditions alive to protect local species and the biodiversity during food production. Food chain is the bridge that connects Caffe San Domenico and the Slow Food presidia to enable the first fully transparent and traceable coffee supply chain through the use of block chain technology.

Some other company Developed with leading companies across the global supply chain including Beyers Koffie, The Colombian Coffee Growers Federation (FNC), ITOCHU Corporation, Jacobs Douwe Egberts (JDE), The J.M. Smucker Company, Rabobank, RGC Coffee, Volcafe, Sucafina and Yara International, Farmer Connect launched in early 2020 with two single-origin coffee brands, one available in Europe and one in the U.S. and Canada. As program expands large and small companies will be invited to join to create a closed-loop circular economy.

Sino-Australian operation Two Hands meanwhile is busy raising funds to expand its footprint this summer. The firm has partnered with the Australian equity crowdfunding platform Birchal, aiming to raise several million dollars to expand its operations, with a long-term goal of listing on the Australian Securities Exchange, McLardie said there’s potential for a rapid adoption of the technology in the post-COVID world.

T18 Group, founded in the late 1800’s in Turin, Italy, represents one of the most modern and important realities in the Italian fruits and vegetables industry. With distribution centers in the most vital Italian regions of agricultural production, from north to south (Campania, Sicily, Sardegna, Puglia, Emilia-Romagna, Lazio, Veneto, Piemonte), today T18 reaches over 600 producers to collaborate together to achieve a common goal. [6]

Conscious of the role and the responsibilities of the journey that food makes towards the consumer’s dining tables, T18 Group decided to make its supply chain transparent to facilitate the activities involved, value the origin of the products and the processes, using block chain technology.

Block Commodities Ltd. Recently announced the partnership with Global Markets Exchange Group International LLP to create a blockchain-based platform for African commodity markets. The platform will help connect farmers in sub-Saharan Africa with buyers and brokers, enabling farmers to get better prices for their crops, as well as reduced-rate loans. The goal is to democratize finance by providing farmers with insight into loan interest rates and commodities prices, all of which will be immutably registered and logged on a blockchain.

Smart Contracts

A smart contract is a computer code that can be built into the blockchain to facilitate, verify, or negotiate a contract agreement. Smart contracts operate under a set of conditions that users agree to. When those conditions are met, the terms of the agreement are automatically carried out. Say, for example, a potential tenant would like to lease an apartment using a smart contract. The landlord agrees to give the tenant the door code to the apartment as soon as the tenant pays the security deposit. Both the tenant and the landlord would send their respective portions of the deal to the smart contract, which would hold onto and automatically exchange the door code for the security deposit on the date the lease begins. If the landlord doesn’t supply the door code by the lease date, the smart contract refunds the security deposit. This would eliminate the fees and processes typically associated with the use of a notary, third-party mediator, or attornies.

Decentralized Energy Grids

Decentralized energy grids, linked to the emergence of renewables and distributed generation sources around the world, are a rapidly emerging phenomenon. Decentralized energy grids have the potential to cut costs at the same time as increasing energy efficiency, improving reliability and supporting renewable energy integration. Coordination issues across these grids, however, remain largely unresolved. Blockchain can provide the solution to these issues, using smart contracts to optimize coordination, enabling genuinely local markets for energy trading. For example, installation of blockchain software with integrated smart contracts, coupled with smart-meter technology, allows for traceability and verification of energy sources, efficient peer-to-peer trading, better balancing and optimization of energy load and demand.Peer-to-peer trading also has the potential to support renewables uptake as well as minimizing the need for energy companies, energy traders and payment providers, and reducing energy transportation losses. Furthermore, transactions can be securely and automatically recorded, with smart contracts on a blockchain establishing a transparent process that users can trust, but with better protection against cyberattacks and without revealing personal information. A network of companies using these types of solutions has emerged, though most are currently at trial stage. LO3 Energy and Siemens Digital Grid, for example, have launched the Brooklyn Microgrid project,47 an early example of an open-source and scalable blockchain platform for the energy sector. “Prosumers” (consumers involved in the design, manufacture or development of a product or service), generating their own solar energy from rooftop panels, have been autonomously trading in near-real time with customers (neighbours) in the local Brooklyn market in New York. Decentralized grids additionally have the capability to build local energy resilience: for instance, through rerouting power in response to a natural disaster, or in areas around the world where energy scarcity is prevalent. The Brooklyn Microgrid, for example, has a built-in microgrid control system, enabling redirection of electricity towards hospitals and community centres. Looking further ahead, the global transition to electric mobility could be integrated into decentralized energy systems, further adding to energy-system storage and demand-supply balancing. BlockCharge by RWE and Slock.it are developing a mobile phone app, which links to a blockchain-based network that allows electric vehicle (EV) owners to charge their car via any charging station network and to be billed for the energy consumed.48 The EVs interact automatically with the stations, and the electricity payment process is autonomous. This type of charging information, for regions and in aggregate, can help increase the management and optimization of decentralized grid solutions.

Zero carbon renewable energy

EW zero enables any renewable energy buyer multinational corporations small and medium sized enterprises, electric vehicle fleets, decentralized blockchain networks to find and source procurement options from across a wide variety of digital marketplaces globally.

Zero integrates myriad marketplaces including those built with EW origin through a single convenient digital interface. Marketplaces operators can thus tap into a new source of renewable energy buyers helping attract growing business to their platforms.

This application helps simplify the procurement process increase transparency about available options remove entry barriers and reduce various costs associated with matching renewable energy buyers and sellers transferring ownership over energy attribute certificates (EACs) and reporting the resulting environment impacts.

In 2017, the world generated more than 9,000 TWh of low-carbon electricity. In 2019, a record 75% of new generating capacity was renewable. Yet there’s much room for improvement in renewable energy markets, including those for renewable energy certificates (RECs) in North America, guarantees of origin (GOs) in Europe, the International REC Standard (I-REC) elsewhere around the world, and emerging models.

Digitalized ‘proof of impact’ platforms can address existing market pain points and catalyze demand among buyers — multinational corporations, small- and medium-sized enterprises, electric vehicle fleets, decentralized blockchain networks — for impactful renewable energy investments

conclusion

in this project, i have explore the block chain applications and how block chain gives us many comercial system solution which have performance transparncy compare to traditional system.