THE BUSINESS READY ENTERPRISE BLOCKCHAIN - CASE STUDIES 2020 - Ontology
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THE BUSINESS READY ENTERPRISE BLOCKCHAIN CASE STUDIES 2020
Introduction to Enterprise Blockchain Use Cases Blockchain technology has given rise to a multitude of valuable industrial use cases. In this report, we will cover the most common use cases and proposed solutions to showcase what we have implemented here at Ontology. Each section will be supported by the rationale behind the blockchain use case, a list of projects geared towards that specific use case, and the barriers that stand in the way of mainstream industrial adoption.
Payments and Banking
Payments solutions have been one of the most prominent deployments of
blockchain technology, as evidenced by the rise of Bitcoin – originally conceived
as a decentralized payment solution. While Bitcoin is still the most commonly
used and held cryptocurrency, the high transaction fees and lengthy block times
have made Bitcoin unattractive for industrial use cases.
Other existing cryptocurrency networks can Overall, blockchain technology can make it
achieve faster financial transactions at a easier for established and emerging
much lower cost than wire transfers, making companies to move into the banking and
cryptocurrencies increasingly attractive for finance sector. The current financial
financial institutions. Most major banks, such products that can be offered using
as J.P. Morgan, are experimenting with blockchain technology are:
blockchain technology in one way or
another, mainly due to its ability to enable • Stablecoins - these are cryptocurrencies
faster and cheaper transactions. that are pegged to a currency such as the
US Dollar for easy payments.
• Payment networks - these allow for
extremely fast transfers across the globe
24/7
• Crypto-backed debit cards - this
enables consumers to own their bank
account and make payments seamlessly.
Oftentimes, these debit cards have a
loyalty system where users are rewarded
with bonus tokens. These tokens can
either be sold on the secondary market
as a cashback reward, or kept in order to
unlock a higher membership tier.
Supply Chains
Supply chain fraud is a prominent problem in today’s modern world, enabling
faulty resources and counterfeit goods to enter the market. By using blockchain
technology, it becomes easier to comprehend where the resources and products
are coming from, and where they are going to. For this purpose, they are
registered on a blockchain and traced through each step of the supply chain,
greatly mitigating the risk of fraud.
The Internet of Things (IoT) devices There are two main barriers to mainstream
represent another category of application, adoption. The first is that supply chain data
enabling goods that are stored and shipped is highly sensitive and should not be
to be easily tracked. For example, this could published on a public blockchain. To remedy
be applied to perishable goods in need of this, privacy-preserving features or solutions
storage within a specific temperature range. can be used. For example, the latter could
Readings from the IoT devices can then be mean supply chain data is stored centrally,
stored in a tamper-proof manner on a while a hash value is being stored on the
blockchain where they can be used to blockchain as proof that the centrally stored
determine who is liable for damages. This in data is not being altered.
turn can improve the quality of products and
cut insurance costs. The fact that the authorities need access to
certain pieces of supply chain data for
Examples of organizations using blockchain regulatory purposes presents itself as
technology for supply chain tracking include another challenge.
food processing companies and supermarket
chains. Customers can scan a QR-code Governmental authorities are usually slower
printed on certain food items, to understand to adopt novel technologies in comparison
the full supply chain history. More companies to the private sector. However, we are
are starting to introduce this technology, as starting to see more authoritative bodies
they have found that it boosts sales by implementing blockchain solutions for
increasing consumer trust. verifying products, which could significantly
boost blockchain adoption across a wide
spectrum of industry verticals.
Data Marketplaces
Over the last decade, data streams have taken on a more pronounced
importance, as a means of mapping the physical world onto the digital one. The
sources of these data streams are often IoT devices, whose readings are non-
sensitive and can provide actionable intel to third parties who are willing to pay
money in order to access them.
For personal or corporate data of a sensitive The main barrier against large-scale
nature, privacy-focused features can again adoption of decentralized data
be used to make sure they are not tampered marketplaces is that their privacy-preserving
with. Blockchain technology has the ability to features have not yet been tested
provide these solutions for decentralized thoroughly. It is a relatively nascent use case
data storage and sharing. Access to these and the utility of oracles is linked to the
data streams is usually paid for in usage of smart contracts. When the
cryptocurrency. adoption of smart contracts increases, so
does the need for decentralized data
As blockchains are blind to external data, storage and data sharing. In some cases,
data marketplaces are linked to the oracle data privacy regulation may prevent the
problem. Oracles are entities that register sharing of data streams.
external data on a blockchain. The oracle
problem states that smart contracts can only
be as secure and decentralized as the oracles
that feed information to them. If the oracle is
compromised, so is the smart contract. A
higher degree of decentralization can be
achieved by combining oracles from multiple
data sources.
Mobility
In recent times, there have been some emerging blockchain use cases in the
mobility sector, for example, the coordination of self-driving cars. Again, this is
linked to IoT and data marketplaces, as autonomous vehicles both gather and
require data about their surroundings.
For electric vehicles, smart energy Platooning is a technology that has been
management comes to mind. For example, touted as a solution for decreasing the fuel
autonomous vehicles have the potential to consumption of self-driving or semi-
be fitted with a crypto wallet in order to pay autonomous vehicles. By driving closer
for parking, tolls, and charging. Blockchains together, the vehicles make use of the
could facilitate the coordination of energy by slipstream and therefore reduce the
setting financial incentives for charging when aerodynamic drag. The front vehicle in a
there is an oversupply of energy. Similar platoon hardly receives any benefits from
measures can be taken for coordination in decreased fuel consumption, but could be
public transport and ridesharing. compensated using micropayments in
digital currency.
An example of corporate usage would be
Daimler’s mobility blockchain factory, with
use cases in payments and settlements,
vehicle identification, and data sharing.
In summary The crypto economy is a puzzle with many pieces, with a growing number of highly interconnected enterprise use cases. For example, with data marketplaces, they often source data from IoT devices, which are widely used in supply chain tracing and the exchange data streams using smart contracts. Whenever these data feeds are not corporate-sensitive, third parties might want to pay money for reusing them, offering cryptocurrency in return. For traditional enterprises, this requires an efficient exchange method between fiat and crypto for banking use cases. Smart contracts on the other hand often require the importation of external data for their internal logic, which can then be achieved with the help of data marketplaces. This interconnectedness emphasizes the breadth of use cases for organization adoption. Ultimately, the single biggest reason why the number of enterprises using blockchain technology is still relatively low is because blockchain is still in its infancy. Ontology is here to accelerate adoption levels with our suite of solutions.
Introduction to
Ontology
Enterprise
Blockchain
Ontology provides a decentralized network environment
that solves key issues of identity, security, and data
integrity. Data sharing and productive collaboration are
maximized by assuring that users can trust one another.
Launched in 2017, Ontology now is one while authorizing their data to be shared
of the most recognizable and trusted in applications of their choice.
blockchain networks globally, with a
strong presence in all major regions. Ontology is best known for its easy-to-
use, robust, enterprise-ready blockchain,
With over 1,300,000 unique ONT IDs with an expansive ecosystem that provides
created, Ontology allows users to access to hundreds of thousands of users.
manage their personal data themselves,What makes
Ontology a top
blockchain
platform?
• High-performance network • Multiple developing languages;
python, java, js, Golang, C++
• Flexible for integration
• Fastest consensus mechanism that
confirms a transaction in less than 1
second
• Handling more than 5,000
transactions per second
• Multi-language development
document available
• Stable and persistent • Cross-chain function ready to use
• Leading in innovation • Supported more than 300 dApps
without a single glitch
• No technical failure since MainNet
• Scalable consensus mechanism for
large number of nodes
• Fastest Wasm virtual machines –
Ontology Wasm-JITWhat Ontology
has coming
next
LI JUN - Founder of Ontology
High-performance network
Our next big launch with regards to our enterprise product offering is the SAGA
data marketplace. SAGA is a decentralized data marketplace that is designed for
individuals and organizations to monetize and acquire data in a trusted,
standardized and cost-effective way.
This will revolutionize the data exchange landscape, offering up many new
business opportunities for enterprises looking to build within the Ontology
ecosystem. We believe this is one of the most exciting products that is entering
the market, and we are proud to be able to offer this globally through our
enterprise-grade blockchain. We will be discussing this topic in more detail in the
next section of the report.What Ontology
has coming
next
Developers
For our developer community, we are launching our next wave of the bounty
program and we will be refining our developer portal with more tools and
documentation.
Ontology Ontology
Bounty Program Developer Center
https://bounty.ont.io/ https://
developer.ont.io/
Looking to
build with
Ontology ?
Please do not hesitate to contact us.Ontology Use Cases At Ontology, we have a strong focus on creating innovative, robust, enterprise-grade industrial use cases. In the section below, we will talk you through some of our most cutting- edge projects across a wide array of industries.
Qualified identification center
Chemicals / Goods Inspection and Quarantine Bureau
Products will be bound to a digital ID created
by the blockchain network once leaving the
factory, and initial information will be
attached.
Chemical Delivery Data
Management Network
Blockchain Nodes will be integrated with
Create business IoT systems for data tranfer.
Product
Digital ID
Customs
Main Nodes with
ID creation permission
Customsrequired documentations and
Feedback will be processed manually.
Uploading and downloading scanned
documents to the system.
End customer Shipping company Inland transportation
During transportation, IoT devices will
upload information on location,
temperature, humidity, etc.
Lanxess - Chemical Supply Chain Tracking
The chemicals manufacturer Lanxess is conducting a pilot experiment using
blockchain technology to establish an electronic identity system for their shipped
products once they leave the factory.
For this purpose, a QR or barcode is This is especially useful for dangerous
attached to the products for verification by chemicals, as they usually have to be
internal experiment participants such as transported under certain conditions, such
Lanxess employees and associated as temperature or humidity. IoT sensors pick
customers, external participants such as these readings up in real-time and attach
forwarders, logistics companies, etc. are them to the product’s digital identity, thus
asked if they are willing to participate. As documenting that the products were
Lanxess does not anticipate willing correctly shipped. This process can also
participation from authorities such as provide comprehensive documentation for
customs and investigators, these interactions authorities.
will be simulated.
Lanxess hopes to improve the efficiency of
Products will be bound to a digital ID created their internal processes, to reduce the time
by the blockchain network once they have needed for audits by authorities, while
left the factory and initial information has reducing labor costs. This also provides
been attached. The product will be bound to clients with complete and reliable logistics
this unique ID along with a QR or barcode. information which helps Lanxess to establish
Data from each step of the delivery process and maintain a credible partnership.
will be attached to the product’s digital ID.
This is an integral profile of the product’s The Proof of Concept solution foresees the
delivery chain and will be available when it is support of multi-chain architectures as well
received by the end customer. as multiple coding languages for smart
contract development. The already existing
code has been strictly audited by several
security agencies guaranteeing highest
industry standards.Rail One - Fiat On-Ramp Supporting ONT, Bitcoin
and Stablecoins
RailOne is a leading fintech enterprise, aimed at empowering payment services
with a gathered platform powered by our global partners. Their service provides
a whole host of solutions, including card issuing and global payments for over
30,000+ freelancers, as well as cross-border e-commerce SMBs.
RailOne offers a choice of multiple services By using the cryptographically secure
which enables clients to issue a crypto-based Ontology blockchain, in combination with
card for their own customers and make distributed data storage systems like
payments seamlessly. Oftentimes, these InterPlanetary File System (IPFS) or OrbitDB,
cards have a loyalty system that rewards it is possible to disintermediate existing
users with bonus tokens. centralized data storage systems while still
maintaining trust and data integrity.
For clients, they are connecting to local
vendors to offer multiple routes including
SWIFT, SEPA, ACH, third-party transfer or
direct banking transfer. Every transaction
would be a settlement on-chain by a
stablecoin (OEP-4 standard). Using OEP-4,
an open token standard, we have the ability
for a near instant settlement with a low
settlement risk.POS Spend: Users need to select a credit card system on the POS to enable spending. The POS machine must be a direct bank machine, as a third-party payment machine is not accepted in most cases. For your reference, we have created a list of some shops in China that have direct bank machines. Shops Travel Food Other Walmart Korea Air Pizza Hut Tiffany Carrefour Emirate Macca Prada Suning Hyatt KFC L’occitane Gome Sheraton Taco Bell Audi Ikea Pullman Starbucks Porsche Online Spend: The card can be bound to third-party applications or used directly on Visa merchant websites for online spending. Below, please find guideline for your reference: Alibaba Series: Bind at Alipay to spend at Taobao, Elema, Tianmao. Tencent Series: Bind at WeChat to spend at Jingdong, Pinduoduo, Qunar and VIP.com. Meituan Series: Bind at Meituan to spend at Meituan Travel, Meituan Takeaway. Besides physical payment terminals, the card can be either bound to third-party applications or used for online stores that accept Visa as a payment method. Another option to withdraw funds include ATM machines that are connected to the Visa/UPI network. This requires the user to enter a PIN number for authentication and it may incur additional fees from the ATM machine. In the case of lost or stolen cards, the card can be promptly locked, and a replacement card will be issued right away.
Overview of MVP
In MVP, User-Controlled Storage, Ontology Blockchain, Token Smart Contract
and Agent Server will be adopted to support it.
User-Controlled Storage
5 UX requests to write car experience, For the first time, the user initializes
settings and preferences with 2
the setting to the User-Controlled
Access Token by using standard Storage and establishes his own
HTTP request. personal storage space. At the
same time, the default permission
User Wallet configuration will be established.
Car A The user approves it, a token with
3
SDK written permission is generated
specifically for the smart contract
and is assigned to the vehicle. The
token is preset to be valid during
1 UX requests authorization from the the specific period, after expiration,
UX user to write data to personal storage. the vehicle will lose the written
permission.
Agent Server 4 The Agent Server will sync up the Smart Contract
event logs with the blockchain, and
then convert the token to an Access
Token.
Access Token
Major European Automotive Company - Customer
Experience
ONT ID is an open DID protocol, based on W3C decentralized identifiers, that
connects people, data, services, and (IoT)-devices, using a reputation system.
This allows users to manage their personal data in a self-sovereign way and
authorize their data to be shared in applications of their choice. This also makes
it possible for users to instantly sign into any application that is integrated with
the ONT ID protocol.
Ontology’s Decentralized Data Exchange cloud storage system.
Framework (DDXF) is a data marketplace
built on top of Ontology’s open DID One use case for this is for the collection and
protocol, allowing data consumers to verify sharing of data for car customer experiences.
the ownership and authenticity of user data, For example, users can save their personalized
without infringing on their privacy. It is a car settings on cloud storage, they can then
complete data interaction protocol for data give their own car, or any other car they are
valuing, trading, and profit sharing, fitted driving (e.g. rental cars) an access token that
with a reputation system and open APIs to allows the car to download the data and
ensure compatibility with all applications. configure itself according to the user’s
preferred settings.
The mobile app ONTO serves as a front-end
for users to manage their digital identity and Users could also create an itinerary, either
use the ONT ID protocol to selectively automated or manually, and share it with
provide identity proofs. Only the respective their friends. They may also share their data
ONTO user holds the key to access their with third parties, such as the car manufacturer
identity data, which is stored either locally on for customer behavior analysis purposes, while
their phone, or securely encrypted on a getting rewarded for sharing their data.ONT ID
ONT ID is a framework based on the W3C decentralized identifier protocol, using
blockchain and cryptographic technology, connecting people, data, and services.
Open DID protocol Multiple Network protocol for trust
identities: people, assets, anchors. Certificate of claims to
objects, and affairs. satisfy multi-dimensional trust
Endorsement.
Data security and privacy Complete DID management
protocol. Secure self-sovereign protocol. Resource locking,
identity management. indexing and query of identity
credentials.No control over data Data Privacy and Security High Transaction Cost Poor Data Reliability
• Unable to check who is using it • Core data and business secrets can • Difficulties in data value assessment • Inadequate information
be exposed about data providers
• Lack of clear liability regulations • Legally complex and time-consuming
in case of infringement • Individual privacy in transaction process • Lack of professional data
analysis tool
SAGA - Data Marketplace
SAGA is a data marketplace built on the Ontology infrastructure. There are some
current problems with data sharing for example, the individuals or enterprises
that generate data can neither monetize nor control their data streams, making
the service platform (e.g. social networks, search engines, etc.) that collects the
information a data monopoly.
The service platform then transfers the data Ontology. This serves as a “trust anchor” to
to either another enterprise interested in verify data and associate data with their
using the data, or to an external data owners.
processor, who collects profits from these
transactions without remunerating the data Companies publish and monetize their data,
generator. This also poses a privacy risk to as long as this is in full compliance with
the generators, as they cannot check who is privacy regulation. Data consumers may
using their data. purchase data streams on the SAGA
marketplace, which shares the revenue with
While regulation on data sharing has been the data generator. Third-party data
improved over the last year, such as the processors can render services, such as
European Union's GDPR guidelines, it is still decentralized storage, or analysis tools.
unclear, who is liable in the case of privacy
infringements due to the large number of Companies can only use data streams if their
parties involved. owners have authorized them to do so. The
SAGA protocol strictly limits what the
SAGA is designed to be a decentralized data different people can do with the data, for
marketplace designed for individuals and example prohibiting data to be transferred
organizations to monetize and acquire data to third parties without authorization.
in a trusted, standardized, and cost-effective
way. For this purpose, parties in the SAGA
ecosystem (individuals or companies) must
identify themselves using a Decentralized
Identifier (DID), which is provided byData Providers Data Consumers
Individuals Companies Companies
• Generate a DID • Generate enterprise DID • Generate enterprise DID
• Get personal data and store • Complete company Decentralized • Complete company verification
locally verification
Data Sharing • Explore our data marketplace
• Securely share data • Publish and monetize data in
compliance with regulation • Purchase data through API or dataset
• Get rewarded
Data Processors Distributed Data Storage Secure Processing Environment Unique Analysis and Insights
SAGA Business Model
A decentralized data marketplace designed for individuals and organizations to
monetize and acquire data in a trusted, standardized, and cost-effective way.
SAGA uses a reputation system to establish trust between the nodes, as well as
an open API that makes SAGA compatible with other applications.
Want to know
more about
SAGA?
Please do not hesitate to contact us.How to implement a blockchain solution with Ontology Introducing the blockchain decision framework
Blockchain Decision Framework
Many of the enterprises that we speak with may wonder if they need a blockchain
solution. This is why at Ontology, we like to make the whole process as easy and
as understandable as possible.
The first exercise we run with any potential Our team has created a multitude of
partner is the Blockchain Decision solutions for major enterprises across the
Framework. The below diagram may help world. We would love to go through
anyone who is interested in blockchain exercises such as this with you in real-time,
solutions to better understand whether it and then give you bespoke advice along the
would be the right fit for them. way about the best path to follow.
This is something you can run through If you are interested in finding out more or
yourself, however, we would advise you to speaking with an Ontology representative,
reach out to the Ontology team if you have you can reach out to contact@ont.io. We
any specific questions. would be happy to answer all of your
blockchain-related questions, or discuss our
previous projects with you.
1. Need for a shared common 1
database? Yes
2. Multiple parties involved? 2
Yes
3. Parties involved have conflicting
incentives and/or are not trusted? 3
No
Blockchain is not
Yes required
4. Rules governing participants are
not uniform? 4
Yes
5. Need for an objective,
immutable log? 5
Yes
6. Rules of transactions do not
6
change frequently?
Yes
7. Are the transactions public? 7
Yes No
Permissioned
Public Blockchain Blockchainhttps://ont.io/
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