Blockchain is one of the technologies that has grown the most in recent years. Jon Gómez and Secundino Iglesias participate in the Digital Transformation Module of C1b3rWall Academy 2021 with a lecture on “Blockchain Networks”.

Jon is part of IBM’s digital transformation department, where he is involved in projects related to blockchain, and its functional aspects. Meanwhile, Secundino is a blockchain solutions architect at IBM and a specialist in the technical aspects of blockchain networks. The aim of his talk is to help us better understand blockchain technology and why it is growing so much.

Blockchain provides a reliable and distributed ledger in business processes. It ensures that all business participants have a ledger, can simultaneously have the data and trust it. Among the main benefits of blockchain for businesses are the following:

  • Time savings: transactions are instantaneous.
  • Cost reduction.
  • Reduced risk of fraud and ensures that what is written is entirely truthful.
  • Increased trust in processes.
  • Criteria for applying blockchain technology

Types of networks

Public: anyone can participate in them, consult their ledger and download a copy, in addition to being part of the consensus process.

Private: an organization has authority over the network. Participants must agree to the rules established in the smart contracts. There are authorization restrictions regarding access to blockchain and higher privacy, since the data can only be read by the participating organizations.

Consortia: they are like private networks; the difference is that several organizations have the authority.

Hybrid: this is a mixture of public and private networks. Their certification is done in public networks.

Read the full article on News 365.

Blockchain will continue to grow, so it is essential to learn a little more about this technology. To do so, you can take the free C1b3rWall Academy course in which you will learn about this and other current topics.

Posted by Juan M. Corchado

Juan Manuel Corchado (15 May 1971, Salamanca, Spain) is Professor at the University of Salamanca. He has been Vice-Rector for Research from 2013 to 2017 and Director of the Science Park of the University of Salamanca. Elected as Dean of the Faculty of Science twice, he holds a PhD in Computer Science from the University of Salamanca and a PhD in Artificial Intelligence from the University of the West of Scotland. He leads the renowned BISITE (Bioinformatics, Intelligent Systems and Educational Technology) Research Group, created in 2000. Director of the IoT Digital Innovation Hub and President of the AIR Institute, J. M. Corchado is also Visiting Professor at the Osaka Institute of Technology since January 2015, Visiting Professor at the Universiti Malaysia Kelantan and Member of the Advisory Group on Online Terrorist Propaganda of the European Counter Terrorism Centre (EUROPOL). J. M. Corchado has been president of the IEEE Systems, Man and Cybernetics Society, and academic coordinator of the University Institute for Research in Art and Animation Technology at the University of Salamanca, as well as researcher at the Universities of Paisley (UK), Vigo (Spain) and the Plymouth Marine Laboratory (UK). He currently combines all his activity with the direction of Master programmes in Security, Digital Animation, Mobile Telephony, Information Systems Management, Internet of Things, Social Media, 3D Design and Printing, Blockchain, Z System, Industry 4.0, Agile Project Management, and Smart Cities & Intelligent Buildings, at the University of Salamanca and his work as editor-in-chief of the journals ADCAIJ (Advances in Distributed Computing and Artificial Intelligence Journal), OJCST (Oriental Journal of Computer Science and Technology) or Electronics MDPI (Computer Science & Engineering section). J. M. Corchado mainly works on projects related to Artificial Intelligence, Machine Learning, Blockchain, IoT, Fog Computing, Edge Computing, Smart Cities, Smart Grids and Sentiment Analysis. He has recently been included in the board of trustees of the AstraZeneca Foundation, along with other health professionals and researchers recognised for bringing scientific knowledge closer to society.