Introduction to Blockchain Architecture in Business
Guest speaker Bob Hartley from the company Kaleido hosted a webinar explaining the concept of Blockchain Architecture and how it improves a business. As a student who came to learn more about blockchain architecture, I learned that Enterprise Blockchain started in 2015, with IBM being the first organization to use this technology on a large business. Bob talked about the different layers of blockchain and the specifics of each layer such as layers that help store data to maintain network connectivity and ensure consensus across the system. He also spoke about the different generations of blockchain. For instance, the goal of Gen 2 Blockchain is a strong return on investment. I learned that Web3 enables companies to offer new customer experiences in a B2C market and offer mass-scale change. I learned how COVID illustrated how broken multi-party business processes are and how Blockchain transforms these business processes in seconds rather than hours or days. Bob talked about how they used the CBDC gateway for international payments and how they experimented and developed a solution to help banks track their transactions. Overall, Bob introduced to me many things about Blockchain Architecture that I did not know previously and how the company Kaleido manages NFT’s and uses/operates blockchain architecture. In my future endeavors as a MIS Major, I could possibly get into the Blockchain field as Blockchain is becoming more prominent in many fields of work such as banking, supply chain, etc.