A secure, decentralised and unhackable technology emerged during the economic crisis in 2008. That is Blockchain. It is also making headlines as the underlying technology of Bitcoin. On top of this, it serves as the key technology for the Internet of Values. But what added value does it offer? What are the right use cases for your company? Together with our clients, our blockchain experts are identifying possible use cases for your company.
Bitcoin will be for the Blockchain what Tesla meant for E-Mobility.
Bitcoin with its rapid increase in value and high volatility has generated a worldwide buzz. Both as a digital currency and as an investment opportunity. The broad acceptance of the cryptocurrency led to a boost in the awareness of the underlying Blockchain technology. The outcome: a rising user base. Rooted in the IT environment, Blockchain has slowly but steadily made an expansion into other industries in the way that Tesla has managed to establish a broad acceptance of electromobility beyond the R&D departments. Bitcoin is paving the way for Blockchain. The full potential of Blockchain has only been touched on. Bitcoin and other complex and comprehensive cryptocurrency use cases show only one of many possibilities.
Which field of application suits your requirements? You decide.
Our strength lies in bringing business and IT together. We know your business and are familiar with a variety of Blockchain technologies: Bitcoin, Ethereum, Ripple, IOTA - all Blockchain technologies have their strengths and weaknessess. We help you to identify worthwhile use cases and the right technology. Our approach is comprehensive - from analysing use cases and technology evaluation to implementation. We will guide you along the way into your future.
„Blockchain allows a massive reduction in B2B process costs through consistent digitalisation." Balint Tolnay - Partner at Ventum Consulting“
Automated reconciliation processes. Digitalised supply chains. Redundant intermediaries.
Blockchain technology causes disruption. In the financial sector, processes like security clearing and international money transfers are automated - making banks obsolete. In the logistics industry, goods are being tracked in transit. Blockchain ensures that the measured temperature or humidity is saved tamper-proof within the database. The technology holds enormous potential for further data-based business models reaching from logistics to Industry 4.0. It also plays a significant role as a trust ledger, both for sensor data as well as for machine to machine communication as it protects all communication between participants. An entirely different field of application is cross-company clearing. Blockchain is able to drastically reduce execution time and overhead costs. Apart from the above mentioned, there are many further potential use cases in other business units and industries.
We develop these use cases - with a special focus on e-mobility - in a partnership with the Frankfurt School Blockchain Center and thus make them more tangible. Joint events and studies enable an in-depth insight into this complex subject as well as provide a plattform for knowledge exchange among experts.
If you have ever charged an electric vehicle (EV) before, you are familiar with this situation: a separate account is needed for almost every charging station. In addition, it is a necesssary to enter into contracts with various providers. In order to make charging an EV as appealing as possible, it needs to be at least as easy to handle as refueling a car. Or have you ever heard of a petrol station where you have to register in advance?
This is precisely where Blockchain technology comes in handy: low transaction costs combined with tamper-proof and transparent data storage. The technology provides a high level of confidence in the safety within the charging process - without any registration in advance and independent of the provider.
The contract for every single charging process is concluded through smart contracts by using temporary identities. The user only needs to choose how much and how fast the vehicle should be charged, the rest is done automatically. This application lays the groundwork for more flexible pricing and contract models and offers opportunities beyond this simple and digitalised charging process.
Building on this use case, much more is possible: batteries of electric vehicles could be used as a dynamic energy storage. Predictive Analytics can be used to control the charging and discharging to reduce peak network loads and benefit from price advantages in times of low demand.Download more information
Tampering with the mileage of used cars has long been an issue - studies show that today every third car is manipulated. Every year, insurance, buyers, guarantors and car manufacturers suffer losses that amount to billions of Euros - and that only in Germany. In addition, extended maintenance intervals increase the risk for operational safety. A criminal offence is difficult to prove as the manipulation hardly leaves any trace.
We offer an innovative solution based on the Blockchain technology. Storing the mileage in the Blockchain ensures a reliable and correct odometer. Capturing further relevant information such as e.g. repairs offers opportunities for further business models.
For a validated mileages these four steps are necessary:
- Record the mileage:
To avoid manipulation, it is necessary to record the current mileage frequently. This could be done automatically by the vehicle itself at garages or fueling stops.
- Validate via Smart Contract:
The determined mileage is validated by a smart contract with each notification. For an enhanced validation, additional variables could be called upon.
- Store it in the Blockchain:
If the requirements are fulfilled, the mileage will be encrypted and stored in the Blockchain jointly with a designated VIN (Vehicle Identification Number).
- Valid mileage:
In case of vehicles sales or insurance claims, the mileage can be validated through the Blockchain.
Blockchain: Our services in a nutshell.
- Together, we identify promising use cases.
- We find the appropriate technologies for you through a systematic selection process.
- We accompany your Proof of Concept from the idea to the conception to the implementation.
- We ensure that your blockchain solution integrates well into your IT landscape.
In our opinion, Blockchain can only unfold its full potential if the technology is aligned to the enterprise architecture. As a result in the long term it will remain manageable and effective. With the help of Analytics you can utilise and interpret the generated data. In order to maintain high quality and transparency throughout various processes, it needs to be fully integrated into the relevant processes to achieve maximum automatisation e.g. finance processes.