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Blockchain

Decentralized trust machines shaping tomorrow’s business networks

Blockchains are not just distributed databases under the hood of cryptocurrencies. They show their full potential in supply chain scenarios where trust, security and authenticity are traditionally sourced from expensive and/or data mining intermediaries.

How do blockchains work?​

Blockchains are decentralized process engines relying on the foundation of three main principles:

Immutable storage:
All records stored on a blockchain network cannot be altered once written. Cryptographic checksums created on top of the record are incorporated in the subsequently written record – creating a mathematically linked chain constantly controlled by the network. This generates trust in the state of data.

Immutable logic:
Next to records also small programs (so called Smart Contracts) can immutably be stored on the blockchain network. These programs are executed decentralized and can be used to ensure the integrity of the records written to the blockchain or for further business processes. This leads to trust in the processes.

Guaranteed authenticity of all participants:
Every network participant’s authenticity is based on digital signatures, which yields trust in identity.

Establishing trust in the state of data, processes and identity through a technical approach effectively abandons the need for trusted intermediaries.

New, digital business models

Higher efficiency thanks to blockchain

By realizing trust in the state of data with trust in the processes that are allowed to work on that data and with trust in involved identities, blockchain technology is an ideal cross-company process engine. Expensive business problems like data manipulation and delays due to manual approval processes can be solved by technology (blockchains) paired with a mindset shift towards consortial thinking and joint governances – even or especially between competing entites. This leads to reliable, efficient processes and reduces transaction costs. The automation capabilities of decentralized networks makes them particularly suitable for efficient orchestration of complex cross company workflows. By allowing all network partners to view all transactions in real time, blockchain ensures absolute transparency. Through a combination of efficiency, authenticity assurance and immutability of data, blockchain has potential for developing new trust-based digital business models.

We believe in a decentralized future of business networks and underpin this by developing and operating Camelot Hypertrust Platform, our decentralized application platform and our confidential computing offerings in the cloud and on-premise (Camelot Trusted Computing Appliances).

Blockchains – revolutionizing the corporate world

Blockchains are currently tested in promising applications in almost all sizable companies. However, there is often a lack of in-house experts for the decentralized approach, which hampers widespread productive use. The comprehensive change process that accompanies the use of blockchain networks is also a major challenge. Working with decentralized technologies requires a radical rethink of company policies.

Blockchain has the potential to revolutionize the business world – not so much the technology per se, but rather the underlying concept: decentralized networks form the basis of new working models in the age of digitalization and Industry 4.0, in which machines work autonomously. Innovative companies that successfully manage this change process can scale and optimize their value chain with the help of blockchains.

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Blockchain – from hype to innovation​

Beyond the crypto currency Bitcoin, blockchains offers solutions for the biggest current challenges: data security, authenticity and decentralization. A blacklist for stolen smartphones, sensor-controlled track and trace for temperature-sensitive products such as medicines and food, a marketplace for digital services from various providers – there are numerous possible applications along the entire value chain for making processes safer, more reliable and more efficient with the help of blockchain.

Related Innovations

Solution

Camelot Hypertrust Platform

Camelot Hypertrust Platform: Managing interoperability, performance, security and scalability of your international, multi-company supply chain.

Solution

Camelot Trusted Computing Appliances

Our Trusted Computing Appliances, co-developed with DellEMC and Intel, bring more trust into Blockchain business scenarios by providing data protection for sensitive data.​

App

Blockchain Logistics Solutions

Closer cooperation and greater shared data enable higher efficiency at lower costs, but also require trust. By increasing security and transparency, Blockchain supports in building that trust.

Why Camelot

Camelot ITLab is a pioneer in putting blockchains to use securely along the entire value chain. We link blockchain, IoT and AI. Together with our customers, we are shaping Value Chain 4.0 and pushing the digital transformation forward.​

Creative and innovative​

We are not only consultants, but first movers in the digital transformation. We develop creative, innovative concepts for companies of all sizes.​

Value Chain 4.0​

We have made it our mission to reinvent the digital value chain and supply chain. We promote digitalization with our individual consulting concepts.​

Learn. Consult. Repeat.​

We not only advise, but reinvent ourselves daily. Together with our customers, we learn more every day – so you can strongly benefit from this experience.​

Contact

Andreas Göbel​

Head of Center of Digital Innovation Blockchain​

Develops new block chain solutions and Enterprise use cases. As innovative visionary and experienced SAP architect he is a thought leader in the field of blockchain.

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