How to dramatically boost your business by advancing Blockchain technology.
We often associate blockchain with Bitcoin. However, blockchain technology extends beyond the realm of cryptocurrency. Blockchain is not limited to financial or banking transactions. In reality, transactions can be the movement of money, assets or secure data.
Intel collaborates with partners and customers to solve challenges, empower companies and bring value by increasing blockchain technology.
What is Blockchain?
Blockchain is a digital record like a traditional ledger. Individual transactions, each with a unique timestamp, are paired with other transactions and integrated into blocks. When a block is complete, this also gets a unique timestamp. The block is then sent through the network and connects to other blocks, forming a chain. The links in the chain guarantee its security and make the information stored in the blockchain practically tamper-proof.
Originally developed as part of the Bitcoin digital currency, the blockchain establishes a decentralized transaction structure. Instead of a central authority as a credit card clearing house, the verification is decentralized and derives from the consent of multiple users in the network.
In addition to Crypto
Blockchain has the potential to transform the way businesses, governments and consumers exchange data. It can facilitate the safe and transparent tracking of resources and present opportunities for collaboration on shared business processes. Blockchain technology also offers greater security.
Intel processor technologies have unique capabilities that can improve privacy, security, scalability and trust in blockchain networks. Intel Software Guard extensions (Intel SGX) are integrated into the Intel Xeon Scalable processors, making them an ideal base. Intel SGX keeps encrypted blockchain data until it is needed for a transaction. At that time, it is decrypted in a protected enclave where it is only visible with permission.
The Outlook for Blockchain
Together with Microsoft, Intel is making the blockchain easier to use for your data center customers. The Confidential Consortium Blockchain Framework (CoCo Framework) announced by Microsoft aims to advance the corporate adoption of blockchain by making it ready for business. This means meeting the corporate performance, governance and security requirements.
By Todd Garrigues Director of partner sales programs at Intel Corporation
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