When many people hear the phrase “blockchain technology”, they immediately think of cryptocurrencies. However, blockchain is much more than cryptocurrencies. At its core, blockchain technology is a chain of records that store data and information. It is a tamper-proof and decentralized digital ledger, which provides full control to the user and eliminates governmental or third-party dominance. 

The global expenditure on blockchain solutions is anticipated to reach US$11.7 billion this year, and the number of individuals working in the blockchain sector has increased 76% as of June 2022. By 2024, it is anticipated that the worldwide blockchain technology market would generate US$20 billion in revenue. When blockchain technology is implemented correctly, it can solve problems in several sectors—with applications in the automotive, financial services, voting, and healthcare industries.

The Promise of Blockchain for Healthcare

Healthcare professionals and institutions are already capitalizing on blockchain technology by using early solutions to reduce costs, increasing the availability of authentic information, streamlining medical records, and providing secure and fast access to data. 

There are numerous applications of using blockchain in healthcare:

• Storage and Data Accessibility – Medical professionals can collaborate effectively, improving the opportunities and experiences for patients by using blockchain technology to access, store, and share data securely.
• Analysis and Data Collection – Using a data-driven, scalable, and patient-centric blockchain-based system will prove helpful in collecting sensitive data to train machine learning software. 
• Health Supply Chain Management – The blockchain provides practical solutions to streamline supply chain operations through less expensive, reliable, authentic, and easier methods.
• Drug Tracking – Blockchain technology provides a reliable way to ensure drug validity by providing the ability to trace every medicine back to its source.
• Remote Monitoring – Once uploaded to the blockchain, electronic medical records can be viewed and shared instantly and securely throughout the world. 

Protecting Sensitive Data

Hospital cyber security breaches hit an all-time high in 2021, with 45 million individuals affected by healthcare cyber attacks. The implications of these attacks can have a variety of consequences, ranging from the shutdown of hospital operations, diversion of non-emergency patients, a loss of confidentiality, exposure of patient data and information, and infrastructure damage.

Kali Durgampudi, the chief technology officer of healthcare payments company Zelis, believes that blockchain implementation is vital for protecting patients’ sensitive data from cyber criminals. He says that  because hackers cannot modify or copy the data, “blockchain technology vastly reduces security risks, giving hospital and healthcare IT organizations a much stronger line of defense against cyber criminals.”

Blockchain technology has the potential to alleviate many of these concerns. Any time the information is changed or shared, a new block is created to document the transaction. Strung together, these blocks create an impenetrable chain. Since the information cannot be modified or copied, blockchain technology vastly reduces security risks.

Challenges for Blockchain in Healthcare

Like most advances, there are limits to the promise of blockchain technology. Currently, blockchain’s scalability is low, with transaction speeds not up to the standard of being reliable for massive amounts of immediate transactions. Blockchain ecosystems can also require high energy consumption, making it expensive to manage over large amounts of data and networks. Finally, it is important to note that healthcare often lags behind other industries in adopting new and cutting-edge technologies. Regulations and infrastructure issues tend to prevent fast-paced growth in medical devices, newer drug development platforms, and adopting scalable technologies.

Blockchain Solutions for the Future

Get practical guidance for how to design a blockchain solution with the IEEE five-course program, A Step-by-Step Approach to Designing Blockchain Solutions. Developed by experts, this course program recaps the basics of the technology, the expected benefits of a blockchain solution, how a solution would benefit a prospect company, and more.

Contact an IEEE Account Specialist to learn more about how this program can benefit your organization.

Interested in getting access for yourself? Visit the IEEE Learning Network (ILN) today!

Resources

Durgampudi, Kali. (18 July 2022). The Potential of Blockchain Technology To Address Healthcare’s Biggest Challenges. Forbes.

Encila, Jet. (15 August 2022). Blockchain Industry Workforce Grows 80% This Year, Study Shows. Bitcoinist.

Garg, Amit & Shuang, Sharon. (16 August 2022). Blockchain & Healthcare- Where Are We? DateDrivenInvestor.

Hoffmann, Sofia. (9 August 2022). What Benefits Blockchain can Bring to Healthcare. HealthTECH Zone.

Linken, Scott. (12 August 2022). Making sense of bitcoin, cryptocurrency and blockchain. PWC.

Quarmby, Brian. (22 July 2022). Blockchain’s use in healthcare ‘essential’ to protect sensitive data: Zelis CTO. Cointelegraph. 

Siwicki, Bill. (20 July 2022). Debunking some of healthcare’s biggest blockchain myths. HealthcareITNews. 

Blockchain technology is growing at a significant pace. According to Statista, the global blockchain market, valued at US$1.57 billion in 2018, is expected to grow more than a hundred times. It will reach US$163 billion by 2027. 

Blockchain is a decentralized digital ledger of transactions. It records data in a way that prevents hacking and altering of data by duplicating transactions. These transactions are then dispersed to “nodes” across the network. With organizations increasingly adopting this revolutionary technology, it is transforming the way they do business.  

What Industries Will Benefit From Blockchain?

According to 15 of Forbes Technology Council members, industries that will benefit the most from blockchain include: 

Law enforcement and security: Currently, it can be difficult for police to know if video evidence is legitimate or altered. With blockchain technology, video evidence is signed and time-stamped in a way that is non-repudiable. Therefore, it cannot be altered using deepfake software, which is easily available online. 

Supply chains: The global supply chain is notorious for being difficult to navigate and monitor. This problem often leads to goods being lost or expiring if left out of cold storage. With blockchain technology, these goods can be more easily tracked and monitored using sensors. 

Identity management: By providing a global ID in which organizations will need to obtain consent to use data, blockchain will give ordinary people greater control over their online identity and personal information. 

Software security: By providing “dependency controls that are automatic, tamper-proof, and decentralized,” blockchain will make software far more secure. Offering “in-depth dependency graphs” allows those purchasing the software to know exactly what it contains. 

Media: Blockchain could potentially remodel the rights and ownership of media assets. However, current industry standards pose some obstacles to this topic. 

Messaging apps: Blockchain could improve messaging app security by providing a crypto wallet address. This process would allow you to sign into the app without having to use your personal financial information.  

Real Estate: Blockchain could potentially simplify the real estate industry. It could remove the need for middlemen such as lenders, property managers, and brokers. 

How to Expand Your Blockchain Skills

With distributed ledger technology becoming increasingly popular, many technical professionals are looking to expand their skills to include blockchain. The Q1 2022 Workplace Learning Index, performed by the online learning portal Udemy, found that courses on decentralized blockchain applications were the top lessons among global learners. These lessons were in technology and power skills in 2022, IT Pro reported. Other key findings from the report include: 

• Technical skills in decentralized apps (dApps) and platforms like Binance experienced more than 450% growth in usage, compared to the last quarter of 2021. Internationally, interest in learning skills in Openstack Cloud increased by 444%, while FastAPI skills grew by 304%. 
• Lessons for Amazon Web Services Certified DevOps Engineer were very popular. Laravel was the second most popular skill in the United Kingdom, with 202% and 168% growth respectively. This was followed by Cucumber Software (118%), GitHub (108%), Apache Maven (107%). 

Bill O’Shea, Udemy EMEA vice president, told ITPro that there has been a “rapid rise in blockchain upskilling” in Britain. He revealed that blockchain “continues to be one of the fastest-growing areas” within the employment market. 

“Learners are being savvy in preparing themselves for further developments and understanding of this area. It continues to dominate,” he said. 

Given the number of industries that blockchain will impact, organizations will likely start recruiting more technical professionals with knowledge of this technology. Is your organization’s workforce prepared for the blockchain revolution? 

Get Practical Guidance on Blockchain Solutions

Developed by experts, A Step-by-Step Approach to Designing Blockchain Solutions recaps the basics of the technology. It explains the expected benefits of a blockchain solution and how a solution would benefit a prospect company.  

Contact an IEEE Account Specialist for more information on this five-course training program. Or discover it on the IEEE Learning Network (ILN). 

Resources

Forbes Technology Council. (10 June 2022). 15 Industries That Could Significantly Benefit From Blockchain Technology. Forbes. 

Millman, Rene. (26 May 2022). Uptake for blockchain skills courses surges 450% in 2022. ITPro. 

By 2025, there will be over 23 billion connections on the Internet of Things (IoT) compared to 15.1 billion in 2021, according to a recent report from GSMA, an industry organization that represents the interests of mobile network operators worldwide. 

The Internet of Things is a network of interlinked devices that harness the internet to continuously capture and process data and analytics from physical objects. As IoT adoption increases and it becomes more integrated, global supply chains are expected to reap major benefits. For example, IoT devices create multiple interaction points along supply chains that provide advanced data collection, factory automation, GPS shipment tracking, and enhanced communication between machines and people. 

According to Dipti Parmar, writing in CIO, there are two major ways that IoT – combined with artificial intelligence, wireless sensor networks, 5G, and big data – will make supply chains smarter, faster, and more efficient:

Eliminates dependency on complicated infrastructure:

Traditional tracking systems for supply chain analytics are expensive, time consuming, overly complex, and often lead to dependency on vendors. IoT-based data loggers, which can be attached to shipments and send data to cloud-based servers, can solve these issues. Once attached to shipments, these loggers can monitor thousands of goods traveling across the supply chain. This level of detail gives everyone involved valuable insight into any problems —such as temperature changes or container tilting — that could be affecting the shipments in real time. The loggers are also more affordable than traditional hardware used to track shipments, and can provide enhanced analytics for enhanced decision making.

Provides equal access to data:

In an IoT-enhanced supply chain, data is accessible in real time to everyone involved in the shipment of goods. With improved monitoring and visibility, manufacturers, suppliers, distributors, and retailers can: 

• make better and faster decisions
• save time and money
• improve forecasting
• reduce waste
• take more calculated risks
• increase revenue

IoT Depends on Advanced Cloud Technology

While the Internet of Things has the power to transform supply chains, its success will depend heavily on cloud computing technology. This is because IoT devices must be able to connect and send information to the cloud in a centralized location, which allows devices to communicate with one another. As such, organizations that want to adapt the benefits of IoT also need to embrace advanced cloud technology. 

“The cloud helps in this operation by streamlining and optimizing machine-to-machine communications and facilitating this across interfaces,” writes Ritesh Sutaria, Director of Prompt Softech, a custom forward development company, in IoT for All. “With the increased interactions between many connected devices and immense volumes of data generated, organizations will have to find a cost-effective way to store, process, and access data from their IoT solutions.”

Ongoing Disruptions Will Drive IoT Adoption

Despite its many benefits, industries have been hesitant to adopt IoT. However, ongoing challenges in the supply system, such as disruptions caused by the COVID-19 pandemic, will likely encourage more organizations to start adopting the technology in coming years. 

“Speed and reliability have always been and will continue to be the driving factors of the supply chain for the foreseeable future,” writes Parmar. “The next few months will be critical for companies that bank on data to improve their supply chains. They have a never-before opportunity to build on the momentum and insights gained as a result of COVID-related disruptions by adopting newer technology and systems. The ones that fail to adapt to changing realities will likely be left behind by more agile competitors.”

As organizations adopt IoT, they will increasingly depend on technical professionals who understand this complex technology. Learning the applications, principles, and trends behind the technology is a great way to make your skills more relevant. 

Want to Improve Your IoT Skills? Check out the IEEE Academy on IoT

Are you a professional engineer interested in improving your understanding of the Internet of Things? IEEE has created a new academy that combines existing IoT educational materials with the latest research and developments to help guide technical professionals in this expanding field. 

IEEE Academies are primarily for technical professionals who need to understand new technical information quickly so they can apply it to their work. In addition to gaining new skills and knowledge, participants will also earn a certificate upon their completion. There are two IoT learning paths from which to choose— and both are available on the IEEE Learning Network (ILN)!

IEEE Academy on Internet of Things (IoT): Communications Standards

Communication technology is an essential part of the Internet of Things as it allows devices to connect to each other. This learning path covers the basic principles of communication technology and practical usage of standardized communication. Learn more. 

IEEE Academy on Internet of Things (IoT): Computing Platforms

IoT computing platforms are essential to the development and deployment of IoT applications. This learning path covers all these aspects by providing an overview of the current state-of-art and future trends on computing platforms for IoT applications. Learn more.

What Are IEEE Academies?

IEEE Academies are designed to teach in-demand technical concepts in a new way to IEEE members working in industry. This new learning format at IEEE will help members understand a technical concept without needing a deep background in that technology. This will ensure they understand the fundamental concepts so they can apply them in the context of their general work and technical needs. Learn more about IEEE Academies.

Resources

Sutaria, Ritesh. (8 April 2022). Unveiling the Potential Relationship between IoT and Cloud Computing. IoT for All. 

Parmar, Dipti. (12 April 2022). How data from IoT devices is changing supply chain analytics. CIO. 

The Mobile Economy 2022. GSMA.

From regulatory compliance to invoicing dilemmas, businesses are dealing with some major headaches – and turning to blockchain for a cure.  Among these businesses are automakers harnessing blockchain technology.

In May 2021, French automaker Renault announced it had created a new blockchain solution. This ensures European auto industry components comply with new regulations affecting the entire automotive supply chain. Known as Compliance End-to-End Distributed (XCEED), the solution tracks compliance of thousands of vehicle components. It does this as they are assembled in real time, Just Auto reported. XCEED was developed by a consortium encompassing automotive suppliers Faurecia, Knauf Industries, Simoldes, and Coskunöz, in association with IBM.

These are not the only European automakers harnessing blockchain. Mercedes-Benz plans to develop a blockchain solution that will help trace harmful emissions. Volvo is using blockchain to track cobalt in its battery supply chain for use in electric vehicles. Additionally, BMW will work with Amazon (AWS) on solutions to boost operational performance and supply chain transparency. The company’s PartChain Platform uses certain AWS services as well as open-source blockchain management tools to better track parts and raw materials across the supply chain.

Blockchain Helps Walmart Canada Shrink Invoice Discrepancies from 70% to 1%

Retail giant Walmart Canada is now using blockchain technology to create an automated system. This new system manages invoices from and payments to its 70 third-party freight carriers to prevent payment disputes.

Formerly, the retailer depended on numerous information systems between itself and its carriers. Not only did this hinder communication, it also meant that the company needed to manually handle dispute resolutions. This problem wasted time and labor. 

The company’s blockchain solution, DL Freight, regularly collects data along every point of the network. From the carrier’s tender offer to the proof of delivery and payment approval, all of the data is automatically processed in real-time. It is easily accessible to all involved parties. With this new blockchain solution in place, no more than 1% of the company’s invoices contain discrepancies now. Previously, 70% contained discrepancies. 

DL Freight’s success is largely due to how Walmart Canada implemented the technology. According to Harvard Business Review, some essential lessons from the company’s blockchain adoption are:

1. It obtained views from all major stakeholders:
   Getting perspective from all parties involved ensured the solution worked for everyone.
2. It considered all pros and cons of adopting private vs public blockchain:
   Whereas public blockchain networks can provide a more streamlined solution without the need for restrictions and intermediaries, a private network can be better for businesses. This is because it provides more privacy and access restrictions, making the network more secure. 
3. It ensured all parties involved were in agreement over rules:
   Since every company has its own unique “fixed and variable processes and costs,” it was vital that all parties agree prior to implementation.
4. It embedded automated “checks and balances” into the blockchain:
   This prevented mistakes and helped the company spot areas where it could make improvements.

As supply chains and regulations become more stringent and complex, more organizations will turn to blockchain as a solution. Is your organization ready to adopt this revolutionary technology? 

Designing Blockchain Solutions

Get practical guidance for how to design a blockchain solution with the IEEE five-course program, A Step-by-Step Approach to Designing Blockchain Solutions. Developed by experts, this course program recaps the basics of the technology. It covers the expected benefits of a blockchain solution and how a solution would benefit a prospect company, and more.

Contact an IEEE Account Specialist to learn more about how this program can benefit your organization.

Interested in getting access for yourself? Visit the IEEE Learning Network (ILN) today!

Reference

Vitasek, Kate, Bayliss, John, Owen, Loudon, and Srivastava, Neeraj. (5 January 2022). How Walmart Canada Uses Blockchain to Solve Supply-Chain Challenges. Harvard Business Review.

Duke, Sam. (6 May 2021). OEMs look to blockchain solutions for compliance and parts performance. Just Auto.

The COVID-19 pandemic triggered a dramatic shift to digital transformation as millions of employees began to work from home. Now, with pandemic disruptions suppressing global supply chains; manufacturers, ship operators and importers are switching from paper to digital transactions using blockchain technology, reports Enda Curran in Bloomberg.

As discussed in a previous post, blockchain is a decentralized digital ledger of transactions that records data in a way that prevents hacking and altering of the data. Among its many benefits, blockchain provides secure data sharing that is necessary for trade. One organization already using blockchain technology to make trade easier is Global Shipping Business Network (GSBN), a Hong Kong-based nonprofit technology consortium that simplifies trade using blockchain. Its product Cargo Release has reduced the process of physical document exchange at Shanghai port from as many as three days to just two hours.

“There’s no more people going to a shipping line counter to present documents,” GSBN Chief Executive Bertrand Chen told Bloomberg. 

How Blockchain Creates Transparency in the Food Supply Chain

Blockchain is doing more than helping companies cut back on paperwork. It’s also creating better transparency, safety, and traceability, according to Maclean’s. Particularly within the food supply chain, blockchain’s digital ledger provides consumer insight into the products they purchase from farm to table. Before they find their way into kitchen pantries, food products make their way through a long chain of stakeholders: farmers to truckers to manufacturers to importers and exporters to government agencies to grocery stores. If anything goes wrong, such as a food recall, locating the offending product can be near impossible. As a result, producers and suppliers in these situations are often forced to throw away the entire product inventory, constituting an enormous waste. 

However, Erik Valiquette, president of the Canadian Blockchain Supply Chain Association, told Maclean’s that replacing the current process with a blockchain-enabled system that can store “timestamped activity and verify transactions throughout the food supply chain,” in conjunction with “artificial intelligence, robotics, scanners and the internet of things” will create a more “efficient and transparent” infrastructure.

How Blockchain Prevents Fraud in the Supply Chain

Blockchain can also reduce and prevent fraud. As various stakeholders input data along the supply chain, any inaccurate or fraudulent data is tracked and stored, which can be used to hold accountable anyone who inputs bad information. This accountability makes altering or melding with product data much more difficult. 

“All players will be forced to take a step back, look at their processes and make sure that the data-entry mechanisms are accurate,” says Valiquette. “Will that keep an actor from putting in bad information? Probably not. But by automating certain processes, talking with industry partners, and building a system together, the chances of bad information are greatly reduced.”

The global supply chain’s adoption of blockchain is just taking off. As companies continue to struggle, the need to integrate this emerging technology into the supply chain will only become greater. 

Preparing Your Industry for Blockchain Technology

In addition to the supply chain, many fields can benefit from distributed ledger technology. Check out Enterprise Blockchain for Healthcare, IoT, Energy, and Supply Chain to learn about highly anticipated use cases.

Developed by leading experts in blockchain technology, this five-course program is ideal for managers, professional engineers, and business leaders.

Contact an IEEE Content Specialist to learn more about how this program can benefit your organization.

Interested in getting access for yourself? Visit the IEEE Learning Network (ILN) today!

Resources

Curran, Enda. (15 November 2021). Blockchain to Ease Logjams as Supply Chains Ditch Paper for Digital. Bloomberg.

Sing, Nathan. (11 November 2021). How blockchain could revolutionize food supply chains—and lower your grocery bill. MacLean’s. 

Improving transparency and security, preventing fraud, and reducing errors along supply chain routes are just a few of the ways blockchain can help businesses thrive. Perhaps the biggest benefit of all is the amount of time and money blockchain can save companies while boosting trust and customer loyalty.

“We see a major application of blockchain in supply chain operations,” Cindy Jaudon, a senior leadership team member at IFS, an enterprise software developer, told Forbes. “Blockchain enhances the traceability of goods through an indelible audit trail. This improves security, transparency, and regulatory compliance. Businesses can also benefit from greater efficiencies by quickly identifying where the supply chain might have been impacted. This will enable them to work toward a quicker resolution.”

How Blockchain is Transforming Supply Chains in the Seafood Industry

The seafood industry is just one example of how blockchain is elevating supply chains globally. For decades, seafood buyers had no way of knowing for sure where their fish came from or how it was processed. Now, some fisheries are using blockchain to give their customers insight into precisely where, when, and how of their products. All a customer has to do is scan a barcode to access details about the seafood stored on the blockchain. This decentralized digital ledger of transactions records data about the fish beginning with where it was caught. It can even include the name of the specific fishing vessel. 

“When we catch the fish, we take the head, tail and fins off. Then a digital tag gets attached to the trunk of each fish before it gets frozen onboard,” Steve Paku, a fishing captain who works for Austral Fisheries, which has been using blockchain technology since 2019, told The Guardian. “Blockchain backs up the traceability of the fish more substantially. I think this will become the norm in the future.”

When combined with DNA testing, blockchain can also provide information about the specific species of fish customers are buying. This can prevent fraud, a common problem in the seafood industry. Additionally, blockchain can prove to customers that their fish has been caught sustainably and ethically. This is a major step forward in solving the world’s overfishing problem. (Over 34% of fisheries are overfished, according to the United Nations Food and Agriculture Organization (FAO), a top authority on the industry). 

How Will Blockchain Improve Food Supply Chains?

Within the food industry as a whole, blockchain is poised to dramatically transform supply chains. A few ways it will do so include:

Streamlined decision making: Due to silos within the industry, decision making within the current global food supply chain is often fragmented. Because blockchain gives all stakeholders insight into what’s happening in the supply chain, it enables them to make more streamlined decisions. 

Reduced waste: By giving stakeholders end-to-end transparency throughout the supply chain, blockchain can help them quickly spot and fix problems. This includes issues such as improper storage, temperature changes, and mishandling. As a result, they can reduce food waste. 

Greater customer satisfaction: Within the current siloed food supply chain, a product’s history is often unclear. This is particularly true in the case of seafood. As a result, many customers mistrust the information on their food packaging. However, blockchain gives companies the ability to tell customers exactly when, where, and how their food was processed. This transparency can increase customer trust and boost brand loyalty.

Increased clarity on where and how companies should invest their money: Because blockchain gives companies a clear picture into what’s happening in their supply chains, they are better able to pinpoint specific problems and issues within their operations. This allows them to make targeted investments and save money. 

Blockchain is still in its infancy, and there is a long way to go before it can fully resolve some of the issues that plague today’s global supply chains. However, the technology has enormous potential to revolutionize entire industries and the supply chains they depend on. For those who adapt the technology early, the benefits can potentially be huge.

Understand Enterprise Blockchain for Your Industry

Besides food supply chains, what other industries can benefit from blockchain technology? Get Enterprise Blockchain for Healthcare, IoT, Energy, and Supply Chain, a five-course program from IEEE, to find out. Developed by leading experts in blockchain technology, this advanced program provides business use cases across key industries and sectors. It’s ideal for managers, professional engineers, as well as business leaders.

Contact an IEEE Content Specialist to learn more about how this program can benefit your organization.

Interested in getting access for yourself? Visit the IEEE Learning Network (ILN) today!

Resources

Choudhury, Saptarshi. (2 July 2021). How Transparency Will Elevate the Post-Pandemic Food Supply Chain. Supply Chain Brain. 

Forbes Technology Council. (30 June 2021). 16 Tech Experts Share Blockchain’s Potential Outside The Finance Industry. Forbes.

Turns, Anna. (9 June 2021). Hook to plate: how blockchain tech could turn the tide for sustainable fishing. The Guardian. 

How many fisheries are overfished, and what does that mean? Sustainable Fisheries.

A recent report from the U.S. Cybersecurity and Infrastructure Security Agency, the National Security Agency, and the Office of the Director of National Intelligence, warns of three major threat vectors that can potentially imperil 5G networks.

The report, titled Potential Threat Vectors to 5G Infrastructure, details outcomes from the 5G Threat Model Working Panel, which was launched under the National Strategy to Secure 5G to analyze weaknesses in 5G infrastructure. The panel examined current 5G projects for possible risks, identified, and created mock situations for 5G implementation. They then determined the risks, which include the following.

Policies and Standards

Within the policies and standards threat vector category, the report found a pair of sub-threat vectors related to open standards and optional controls when creating the foundation for 5G infrastructure. Standards developed by “adversarial nations” that include “untrusted technologies and equipment that are unique to their systems” could contain untrustworthy technology that might hinder competition and interoperability. The report also found that adopting optional security controls help to protect networks from hackers.  

“Nation states may attempt to exert undue influence on standards that benefit their proprietary technologies and limit customers’ choices to use other equipment or software,” the report states. “There are also risks associated with the development of standards, where standard bodies may develop optional controls, which are not implemented by operators. By not implementing these subjective security measures, operators could introduce gaps in the network and open the door for malicious threat actors.”

Supply Chain Risks

The report points to the 5G supply chain as a second vector threat, especially because the race to sell new devices creates a large market for counterfeiters. The report states that bad actors can use supply chains to “exploit information and communications technologies (ICTs) and their related supply chains for purposes of espionage, sabotage, foreign interference, and criminal activity.” 

Supply chain sub-threat vectors include components passed on from third-party suppliers, vendors, and service providers. Because flaws and malware introduced early in development are tricky to spot, lead developers may mistakenly approve flaws or malware. Malicious actors could later exploit these vulnerabilities. 

5G Systems Architecture

Despite IT and communication companies ramping up 5G security, cyber criminals can still exploit “both legacy and new vulnerabilities”. 

“For example, the overlay of 4G legacy and 5G architectures could provide the opportunity for a malicious actor to carry out a downgrade attack, where a user on a 5G network could be forced to use 4G, thereby allowing the malicious actor to exploit known 4G vulnerabilities,” according to the report. 

Additionally, 5G networks are utilizing a larger range of information architectures than ever before. Features of such architectures include configuration, spectrum sharing, software-defined networking, and multi-access edge computing. This can give hackers a greater ability to target systems and networks. For example, a firmware vulnerability could allow a hacker to penetrate the multi-access edge computing (MEC), swipe private data, and alter and even deny access to data.

5G Networks

As technology continues to evolve toward 5G, it’s vital for technical professionals and industry leaders to understand how to deliver on the 5G vision while meeting consumer demand for higher communication speeds. Is your organization ready? Consider training your team with 5G Networks, a three-course program from IEEE and Nokia.

Connect with an IEEE Content Specialist today to learn more about the program.

Interested in learning more about 5G for yourself? Visit the IEEE Learning Network today!

Bridging the 4G/5G Gap

Prepare your organization for 5G, the next generation of wireless network technology. The IEEE two-course program, Bridging the 4G/5G Gap: Telecommunications Roadmap for Implementation, provides a historical overview of 4G/5G technology, identifies what is needed for 5G integration in a 3G/4G world, and showcases the scientific evidence surrounding wireless facilities’ impact on property value and human health, and more.

Contact an IEEE Content Specialist today to learn more about getting access to these courses for your organization.

Interested in the course for yourself? Visit the IEEE Learning Network.

Resources

Kanowitz, Stephanie. (18 May 2021). 5G infrastructure faces foundational threats. GCN.

The Internet of Things (IoT) has the power to connect all devices through a cloud-based ecosystem. In the future, it could potentially undergird the infrastructure of smart cities. This would make communications far more streamlined and efficient than they are today. However, a major obstacle for IoT is that it still depends largely on centralized platforms. This can make sensitive data vulnerable to hackers.

Blockchain technology has the potential to fix this problem. As discussed in a previous post, blockchain is a decentralized digital ledger of transactions. It records data in a way that prevents hacking and altering of the data. It does this by duplicating transactions and dispersing them to “nodes” across the network.

Blockchain would allow contracts known as “smart contracts” to be completed autonomously in a decentralized manner. This creates a web of connected devices that gives users control over their own data.

Unfortunately, there are obstacles preventing a full merger between blockchain and IoT. Currently, all IoT devices that “talk” to each other must be on the same blockchain. Similar to how the internet runs on a vast web of servers, a future IoT will need to rely on a network of blockchains. As such, scalability is a major obstacle to merging IoT and blockchain. Current blockchains have yet to reach this level of maturity.

While there are obstacles, the integration of blockchain and IoT would be revolutionary. It would create a record of every transaction made on the IoT, which cannot be altered, making data far more secure. Additionally, it would streamline the entire supply chain—from manufacturing lines to consumers. This would give every stakeholder access to documentation when required. Furthermore, a fully integrated blockchain and IoT will make industries that rely on one another, such as insurance companies and supply chain logistics, interconnected and seamless.

How IoT and Blockchain Can Revolutionize Healthcare and Finance

COVID-19 has created a logistical nightmare for both vaccine distributors and health care workers worldwide. Two of the most common vaccines, Pfizer and Moderna, must be kept at below zero degree temperatures or they will degrade. This vaccine challenge is a primary example of how blockchain and IoT can work in tandem to streamline operations and enhance distribution.

As discussed in a previous post, vaccine manufacturers can place IoT sensors on vaccine packaging or even on individual vials. These sensors allow distributors to track and monitor their location and temperature during delivery. They also help quickly spot and fix problems as they arise. When the vials arrive at vaccination centers, health care workers can scan the packages to get immediate access to important information about the quality of vaccines.

Blockchain and IoT also have the power to revolutionize finance through smart payments. For example, JPMorgan Chase & Co recently piloted blockchain payments between satellites orbiting Earth. As an experiment, the bank worked with a nanosatellite supplier called GOMspace, which gave them the ability to run software on their satellites. The test revealed that blockchain networks can fuel transactions between devices. It also demonstrated that it’s possible to build a marketplace where satellites send data to one another in exchange for money. Such a system, for example, could allow a smart refrigerator connected to the IoT to order food from an e-commerce site when it runs low. It could also give an autonomous vehicle the ability to buy gas.

While obstacles for blockchain and IoT remain, a merger between the two has the potential to radically impact our world.

Understand Enterprise Blockchain for Your Industry

What other industries can benefit from blockchain technology? Get Enterprise Blockchain for Healthcare, IoT, Energy, and Supply Chain, a five-course program from IEEE, to find out. Developed by leading experts in blockchain technology, this advanced program provides business use cases across key industries and sectors. It’s ideal for managers, professional engineers, as well as business leaders.

Contact an IEEE Content Specialist to learn more about how this program can benefit your organization.

Interested in getting access for yourself? Visit the IEEE Learning Network (ILN) today!

Resources

Chai, Raullen. (7 May 2021). Internet of Trusted Things: Democratizing IoT. IoT for All. 

(24 March 2021). The Future of the Internet Of Things with Blockchain. Manufacturing Business Technology. 

Kavinsky, Marc. (10 March 2021). How Are Blockchain And IoT Helping COVID Vaccine Shipments? IoT Business News 

Irrera, Anna. (24 February 2021). JPMorgan’s blockchain payments test is literally out of this world. Reuters. 

Artificial intelligence (AI) is evolving rapidly. According to multinational professional services company, Accenture, businesses spent $306 billion USD on AI applications over the past three years. Despite the advancement of AI, there are currently no specific ethical regulations around the technology—though some governments, including the European Union, are working to establish them. Meanwhile, many organizations are beginning to develop AI standards that will ensure their applications are trustworthy and safe for customers. For example, IBM has taken major steps to build trustworthiness for its AI applications, including the creation of an AI ethics board and AI policies, such as the company’s Principles for Trust and Transparency. 

How Can Organizations Establish AI Standards?

When you receive a meal at a restaurant, you know the food is likely safe to eat. This is because a level of trust exists across the various professionalized fields—the farmers, suppliers, ingredient manufacturers, and restaurant staff who worked to create the meal. However, when it comes to the various stakeholders who are developing AI applications, fewer professionalized roles exist. Furthermore, these roles are not well known among the public. Much like food industry stakeholders, which all must follow specific standards, AI developers should also establish standards that ensure trust.

Successful AI developers establish “tactics of professionalization” across their organizations. According to Fernando Lucini, Global Lead Data Science & ML Engineering — Applied Intelligence at Accenture, developers should set up committed multidisciplinary teams, train their employees, and clearly define who within the organization is accountable for the consequences of their AI systems. To achieves this level of professionalization, he recommends the following steps:

1. Set up definable AI roles within your organization: In professionalized industries like food and agriculture, the roles of teams and individuals responsible for the final product are clearly established and understood. The same rule needs to apply to the role of your AI professionals.
2. Train and educate your AI professionals: Companies need to understand the skills gaps in their AI workforce and provide the necessary supplemental training and education. To keep training consistent, companies should establish career levels for AI professionals and prerequisites. This includes training and coursework designed to help define clear paths for moving up the ranks.
3. Establish formal AI processes: Professionalized industries have a standard way of testing and evaluating products and services. Companies involved in the development of AI need to create similar processes for developing, deploying, and managing AI systems. For instance, they should create clear guidance for employees and teams on how to work with one another. These guidelines should also cover select technologies for the creation of AI and how to then apply those technologies.
4. AI literacy must be democratized across organizations: Organizations need to ensure all departments are educated in AI, even if they do not work directly with the technology. For example, the more your marketing team knows about the AI technology behind an application, the better they will be at communicating its benefits to customers.

Establishing AI Standards for Your Organization

Artificial intelligence continues to spread across various industries, including healthcare, manufacturing, transportation, and finance among others. It’s vital to keep in mind rigorous ethical standards designed to protect the end-user when leveraging these new digital environments.

Check out AI Standards: Roadmap for Ethical and Responsible Digital Environments, a new five-course program available on the IEEE Learning Network (ILN) today.

Resources

Rossi, Francesca. (5 November 2020). How IBM Is Working Toward a Fairer AI. Harvard Business Review.

Lucini, Fernando. (24 September 2020). Getting AI results by “going pro.” Accenture Research Report.

As companies continue to grow, Blockchain-as-a-Service (BaaS) can help supply chain systems grow alongside the companies in order to better keep up with incoming demands. If an organization’s supply chain team need to spend all their time just keeping pace with demand, when will they have the time to think strategically and plan for the future? Learn how blockchain technology can help your company scale.

Transparency

While new companies may be able to track their data by using spreadsheets, the process is often time-consuming and hard to maintain as the company grows. With new partners and channels, data silos can make it difficult to manage your supply chain. Blockchain can help by connecting the data through its decentralized digital ledger, which creates a secure record of all product movements and transactions.

BaaS can benefit companies of various sizes, not just large corporations. This platform allows companies to connect their supply chain system with end-to-end visibility from any device with an internet browser.

Scalability

In order to grow a business, a holistic view is needed to ensure that both demand and growth are met. Blockchain provides this by ensuring companies are able to not only meet current demand but can grow.

Blockchain can provide organizations with greater scalability. Adding nodes as the supply chain expands allows for new channels to easily be added to the distributed ledger. Companies can immediately take these new channels into account when planning.

Data

As companies get busy, they may not have time to think strategically. Key performance indicators (KPIs) may not be reviewed, or they might be limited on data. Real-time data with blockchain technology can help create actionable information. Blockchain-as-a-service offers a digital view of what is happening in an organization’s blockchain at any given point. With the ability to view data at any time, it is easier to be more proactive.

BaaS in Real-Life

How exactly does BaaS look like in the real world? IBM is offering a blockchain platform that lets consumers know where their coffee comes from. In the app, “Thank My Farmer”, users can scan QR codes that shows them the journey of their coffee and supports sustainable farming projects through donations. Starting this March, consumers in the U.S. and Canada will be able to find these QR codes on Folger’s 1850 brand premium single-origin coffee and other well-known brands. 

Starbucks is also in the progress of utilizing BaaS to help show consumers their coffee’s journey. Starbucks is working with Microsoft to develop a blockchain-based supply chain tracking system and mobile app that would show customers the journey from coffee bean to cup. No live date has been given for the app.

Prepare for the Future

Enterprise Blockchain for Healthcare, IoT, Energy, and Supply Chain is a new five-course program from IEEE. Developed by leading experts in blockchain technology, this advanced program provides business use cases across key industries and sectors. It’s ideal for managers, professional engineers, and business leaders.

Connect with an IEEE Content Specialist today to learn more about this program and how to get access to it for your organization.

Interested in learning more for yourself? Visit the IEEE Learning Network.

 

Resources

Mearian, Lucas. (9 January 2020). Coffee industry looks to blockchain to brew a better supply chain. Computer World.

Soni, Pratik. (8 January 2020). Blockchain-as-a-Service: Ensuring your supply chain today can meet the demands of tomorrow. Supply & Demand Chain Executive.