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<div id="pf1" class="pf w0 h0" data-page-no="1"><div class="pc pc1 w0 h0"><img class="bi x0 y0 w1 h1" alt="" src="https://static.pudn.com/prod/directory_preview_static/625154906caf5961923ea973/bg1.jpg"><div class="t m0 x1 h2 y1 ff1 fs0 fc0 sc0 ls0 ws0">P<span class="_ _0"></span>owered by DHL <span class="_ _0"></span>T<span class="_ _1"></span>rend Research</div><div class="t m0 x2 h3 y2 ff2 fs1 fc0 sc0 ls0 ws0">BLOCKCHAIN IN LOGISTICS</div><div class="t m0 x3 h4 y3 ff2 fs2 fc0 sc0 ls0 ws0">P<span class="_ _0"></span>erspectives on the upcoming impact of blockchain </div><div class="t m0 x4 h4 y4 ff2 fs2 fc0 sc0 ls0 ws0">technology and use cases for the logistics industry</div><div class="t m0 x5 h4 y5 ff2 fs2 fc0 sc0 ls0 ws0">2018</div></div><div class="pi" data-data='{"ctm":[1.611850,0.000000,0.000000,1.611850,0.000000,0.000000]}'></div></div>
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<div id="pf2" class="pf w0 h0" data-page-no="2"><div class="pc pc2 w0 h0"><img class="bi x0 y0 w1 h1" alt="" src="https://static.pudn.com/prod/directory_preview_static/625154906caf5961923ea973/bg2.jpg"><div class="t m0 x6 h5 y6 ff3 fs3 fc1 sc0 ls0 ws0">PUBLISHER</div><div class="t m0 x6 h6 y7 ff1 fs3 fc2 sc0 ls0 ws0">DHL Customer Solutions & Innovation</div><div class="t m0 x6 h6 y8 ff1 fs3 fc2 sc0 ls0 ws0">Represented by Matthias Heutger</div><div class="t m0 x6 h6 y9 ff1 fs3 fc2 sc0 ls0 ws0">Senior <span class="_ _1"></span>Vice President, Global Head of Innov<span class="_ _0"></span>ation</div><div class="t m0 x6 h6 ya ff1 fs3 fc2 sc0 ls0 ws0">DHL CSI,<span class="_ _0"></span> 53844 <span class="_ _1"></span>T<span class="_ _1"></span>roisdorf<span class="_ _0"></span>,<span class="_ _0"></span> Germany</div><div class="t m0 x6 h6 yb ff1 fs3 fc2 sc0 ls0 ws0"> </div><div class="t m0 x6 h7 yc ff3 fs3 fc1 sc0 ls0 ws0">PROJECT DIRECTOR<span class="ff2"> </span></div><div class="t m0 x6 h6 yd ff1 fs3 fc2 sc0 ls0 ws0">Dr<span class="_ _1"></span>.<span class="_ _0"></span> Markus K<span class="_ _1"></span>ückelhaus </div><div class="t m0 x6 h6 ye ff1 fs3 fc2 sc0 ls0 ws0">Vice President Innovation and <span class="_ _1"></span>T<span class="_ _1"></span>rend Research </div><div class="t m0 x6 h6 yf ff1 fs3 fc2 sc0 ls0 ws0">DHL Customer Solutions & Innovation</div><div class="t m0 x6 h6 y10 ff1 fs3 fc2 sc0 ls0 ws0"> </div><div class="t m0 x6 h5 y11 ff3 fs3 fc1 sc0 ls0 ws0">PROJECT MANAGEMENT <span class="_ _1"></span>AND EDITORIAL OFFICE</div><div class="t m0 x6 h6 y12 ff1 fs3 fc2 sc0 ls0 ws0">Gina Chung</div><div class="t m0 x6 h6 y13 ff1 fs3 fc2 sc0 ls0 ws0">Global Director Innovation and <span class="_ _1"></span>T<span class="_ _1"></span>rend Research </div><div class="t m0 x6 h6 y14 ff1 fs3 fc2 sc0 ls0 ws0">DHL Customer Solutions & Innovation</div><div class="t m0 x6 h6 y15 ff1 fs3 fc2 sc0 ls0 ws0"> </div><div class="t m0 x6 h5 y16 ff3 fs3 fc1 sc0 ls0 ws1">IN <span class="_ _2"></span>COOPERA<span class="_ _1"></span>TION WITH<span class="ws0"> </span></div><div class="t m0 x6 h5 y17 ff3 fs3 fc1 sc0 ls0 ws0"> </div><div class="t m0 x6 h5 y18 ff3 fs3 fc1 sc0 ls0 ws0"> </div><div class="t m0 x6 h5 y19 ff3 fs3 fc1 sc0 ls0 ws0"> </div><div class="t m0 x6 h6 y1a ff1 fs3 fc2 sc0 ls0 ws0"> </div><div class="t m0 x6 h6 y1b ff1 fs3 fc2 sc0 ls0 ws0">Bastian Gock<span class="_ _0"></span>el</div><div class="t m0 x6 h6 y1c ff1 fs3 fc2 sc0 ls0 ws0">Accenture Consulting</div><div class="t m0 x6 h6 y1d ff1 fs3 fc2 sc0 ls0 ws2">T<span class="_ _1"></span>una Acar</div><div class="t m0 x6 h6 y1e ff1 fs3 fc2 sc0 ls0 ws2">Accenture T<span class="_ _1"></span>echnology</div><div class="t m0 x6 h6 y1f ff1 fs3 fc2 sc0 ls0 ws0">Maximilian F<span class="_ _0"></span>orster</div><div class="t m0 x6 h6 y20 ff1 fs3 fc2 sc0 ls0 ws0">Accenture Digital </div><div class="t m0 x7 h5 y6 ff3 fs3 fc1 sc0 ls0 ws1">SPECIAL THANKS TO</div><div class="t m0 x7 h6 y7 ff1 fs3 fc2 sc0 ls0 ws0">Jaime González-P<span class="_ _0"></span>eralta</div><div class="t m0 x7 h6 y8 ff1 fs3 fc2 sc0 ls0 ws0">Vice President Global CDO IT Products & Platforms</div><div class="t m0 x7 h6 y9 ff1 fs3 fc2 sc0 ls0 ws0">DHL Supply Chain</div><div class="t m0 x7 h6 ya ff1 fs3 fc2 sc0 ls0 ws0"> </div><div class="t m0 x7 h6 yb ff1 fs3 fc2 sc0 ls0 ws2">K<span class="_ _0"></span>eith T<span class="_ _1"></span>urner</div><div class="t m0 x7 h6 y21 ff1 fs3 fc2 sc0 ls0 ws0">Chief Information Officer CDO </div><div class="t m0 x7 h6 y22 ff1 fs3 fc2 sc0 ls0 ws0">DHL Supply Chain</div></div><div class="pi" data-data='{"ctm":[1.611850,0.000000,0.000000,1.611850,0.000000,0.000000]}'></div></div>
<div id="pf3" class="pf w0 h0" data-page-no="3"><div class="pc pc3 w0 h0"><img class="bi x0 y0 w1 h1" alt="" src="https://static.pudn.com/prod/directory_preview_static/625154906caf5961923ea973/bg3.jpg"><div class="t m1 x6 h8 y23 ff4 fs4 fc2 sc0 ls0 ws0">Dear Reader<span class="_ _1"></span>,</div><div class="t m1 x6 h8 y24 ff4 fs4 fc2 sc0 ls0 ws0">What if we could remove the need for intermediaries </div><div class="t m1 x6 h8 y25 ff4 fs4 fc2 sc0 ls0 ws0">in the world of logistics? What if transactions could be </div><div class="t m1 x6 h8 y26 ff4 fs4 fc2 sc0 ls0 ws0">veried, recorded and coordinated autonomously without </div><div class="t m1 x6 h8 y27 ff4 fs4 fc2 sc0 ls0 ws0">third parties? If this could be done, it would eliminate an </div><div class="t m1 x6 h8 y28 ff4 fs4 fc2 sc0 ls0 ws0">entire layer of complexity from our global supply chains. </div><div class="t m1 x6 h8 y29 ff4 fs4 fc2 sc0 ls0 ws0">This is the promise blockchain presents to the logistics </div><div class="t m1 x6 h8 y2a ff4 fs4 fc2 sc0 ls0 ws0">industry<span class="_ _1"></span>. Right now<span class="_ _0"></span>, this technology is still far from </div><div class="t m1 x8 h8 y6 ff4 fs4 fc2 sc0 ls0 ws0"> </div><div class="t m1 x6 h8 y2b ff4 fs4 fc2 sc0 ls0 ws0">maturity with many challenges to overcome before </div><div class="t m1 x6 h8 y2c ff4 fs4 fc2 sc0 ls0 ws0">it can be successfully deployed at scale in the logistics </div><div class="t m1 x6 h8 y2d ff4 fs4 fc2 sc0 ls0 ws0">industry<span class="_ _1"></span>. Likely the biggest challenge will be in achieving </div><div class="t m1 x6 h8 y2e ff4 fs4 fc2 sc0 ls0 ws0">successful industry adoption through collaboration </div><div class="t m1 x8 h8 y2f ff4 fs4 fc2 sc0 ls0 ws0"> </div><div class="t m1 x6 h8 y30 ff4 fs4 fc2 sc0 ls0 ws0">and even coopetition between diverse supply chain </div><div class="t m1 x6 h8 y31 ff4 fs4 fc2 sc0 ls0 ws0">stakeholders that have legacy processes and varying </div><div class="t m1 x6 h8 y32 ff4 fs4 fc2 sc0 ls0 ws0">interests.</div><div class="t m1 x6 h8 y33 ff4 fs4 fc2 sc0 ls0 ws0">But early applications of this emerging technology across </div><div class="t m1 x9 h8 y34 ff4 fs4 fc2 sc0 ls0 ws0"> </div><div class="t m1 x6 h8 y35 ff4 fs4 fc2 sc0 ls0 ws0">a number of industries – from nance to energy<span class="_ _1"></span>, and </div><div class="t m1 x6 h8 y36 ff4 fs4 fc2 sc0 ls0 ws0">manufacturing to retail – suggest blockchain has a </div><div class="t m1 x6 h8 y37 ff4 fs4 fc2 sc0 ls0 ws0">favorable chance of achieving its full potential in future. </div><div class="t m1 x6 h8 y38 ff4 fs4 fc2 sc0 ls0 ws0">When it does, this technology will facilitate greater </div><div class="t m1 xa h8 y39 ff4 fs4 fc2 sc0 ls0 ws0"> </div><div class="t m1 x6 h8 y3a ff4 fs4 fc2 sc0 ls0 ws0">efciency and new business models including faster and </div><div class="t m1 x6 h8 y3b ff4 fs4 fc2 sc0 ls0 ws0">leaner global trade logistics, superior transparency and </div><div class="t m1 x6 h8 y3c ff4 fs4 fc2 sc0 ls0 ws0">traceability in the supply chain, and increased automation </div><div class="t m1 x6 h8 y3d ff4 fs4 fc2 sc0 ls0 ws0">of commercial processes in logistics.</div><div class="t m1 xb h8 y23 ff4 fs4 fc2 sc0 ls0 ws0"> </div><div class="t m1 xb h8 y3e ff4 fs4 fc2 sc0 ls0 ws0"> </div><div class="t m1 xb h8 y3f ff4 fs4 fc2 sc0 ls0 ws0">Exploring the very latest analysis, opinions and ndings, </div><div class="t m1 xb h8 y40 ff4 fs4 fc2 sc0 ls0 ws0">and drawing on a number of fascinating use cases to </div><div class="t m1 xc h8 y41 ff4 fs4 fc2 sc0 ls0 ws0"> </div><div class="t m1 xb h8 y42 ff4 fs4 fc2 sc0 ls0 ws0">identify key success factors for implementation, this </div><div class="t m1 xb h8 y43 ff4 fs4 fc2 sc0 ls0 ws0">trend report aims to answer:</div><div class="t m0 xd h9 y44 ff4 fs4 fc3 sc0 ls0 ws0"> <span class="_ _3"> </span><span class="ff5 fc2 ws3"> </span><span class="ff5"> <span class="_ _4"></span><span class="fc2">What is blockchain and what are the key challenges?</span></span></div><div class="t m0 xd h9 y6 ff4 fs4 fc3 sc0 ls0 ws0"> <span class="_ _3"> </span><span class="ff5 fc2"> <span class="_ _4"></span><span class="ff4"> <span class="_ _4"></span><span class="ff5 fc3"> <span class="_ _4"></span><span class="fc2">How is this technology already being applied </span></span></span></span></div><div class="t m0 xe h9 y45 ff5 fs4 fc2 sc0 ls0 ws0">across industries?</div><div class="t m0 xd h9 y2d ff4 fs4 fc3 sc0 ls0 ws0"> <span class="_ _3"> </span><span class="ff5 fc2"> <span class="_ _4"></span><span class="ff4"> <span class="_ _4"></span><span class="ff5 fc3"> <span class="_ _4"></span><span class="fc2">What opportunities could blockchain deliver to </span></span></span></span></div><div class="t m0 xe h9 y2e ff5 fs4 fc2 sc0 ls0 ws0">your logistics operations?</div><div class="t m1 xb h8 y31 ff4 fs4 fc2 sc0 ls0 ws0">W<span class="_ _0"></span>e hope that you enjoy reviewing the concepts and real- </div><div class="t m1 xb h8 y32 ff4 fs4 fc2 sc0 ls0 ws0">life applications presented here. In addition, we look </div><div class="t m1 xb h8 y46 ff4 fs4 fc2 sc0 ls0 ws0">forward to future collaboration with your organization – </div><div class="t m1 xb h8 y33 ff4 fs4 fc2 sc0 ls0 ws0">together we can unlock the value of blockchain in logistics.</div><div class="t m0 xb h8 y36 ff4 fs4 fc2 sc0 ls0 ws0">Y<span class="_ _1"></span>ours sincerely<span class="_ _1"></span>,</div><div class="t m0 x6 ha y47 ff3 fs5 fc2 sc0 ls1 ws4">PREF<span class="_ _1"></span>ACE</div><div class="t m0 xf h9 y48 ff5 fs4 fc2 sc0 ls0 ws0">Dr<span class="_ _1"></span>. Markus Kückelhaus </div><div class="t m2 xf h8 y49 ff4 fs4 fc2 sc0 ls0 ws0">Vice President Innovation </div><div class="t m2 xf h8 y4a ff4 fs4 fc2 sc0 ls0 ws0">and T<span class="_ _1"></span>rend Research </div><div class="t m2 xf h8 y4b ff4 fs4 fc2 sc0 ls0 ws0">DHL Customer Solutions & </div><div class="t m2 xf h8 y4c ff4 fs4 fc2 sc0 ls0 ws0">Innovation </div><div class="t m0 xb h9 y48 ff5 fs4 fc2 sc0 ls0 ws0">Matthias Heutger </div><div class="t m2 xb h8 y4d ff4 fs4 fc2 sc0 ls0 ws0">Senior Vice President,</div><div class="t m2 xb h8 y4e ff4 fs4 fc2 sc0 ls0 ws0">Global Head of Innovation</div><div class="t m2 x10 h8 y4a ff4 fs4 fc2 sc0 ls0 ws0"> </div><div class="t m2 xb h8 y4b ff4 fs4 fc2 sc0 ls0 ws0">DHL Customer Solutions & </div><div class="t m2 xb h8 y4c ff4 fs4 fc2 sc0 ls0 ws0">Innovation</div><div class="t m0 x11 h8 y4f ff4 fs4 fc2 sc0 ls0 ws0"> </div></div><div class="pi" data-data='{"ctm":[1.611850,0.000000,0.000000,1.611850,0.000000,0.000000]}'></div></div>
<div id="pf4" class="pf w0 h0" data-page-no="4"><div class="pc pc4 w0 h0"><img class="bi x0 y0 w1 h1" alt="" src="https://static.pudn.com/prod/directory_preview_static/625154906caf5961923ea973/bg4.jpg"><div class="t m0 x6 h5 y50 ff3 fs3 fc2 sc0 ls0 ws0">PREFACE <span class="ws5"> ..................................................................................................................<span class="_ _5"> </span><span class="ws6"> 1</span></span></div><div class="t m0 x6 h5 y51 ff3 fs3 fc2 sc0 ls0 ws0">1 <span class="_ _6"> </span>UNDERST<span class="_ _1"></span>ANDING BLOCKCHAIN <span class="ws7"> ....................................................................<span class="_ _5"> </span><span class="ws6"> 3</span></span></div><div class="t m0 x6 h6 y52 ff6 fs3 fc2 sc0 ls0 ws0">1.1 <span class="_ _7"> </span>Disrupting the Business of <span class="_ _1"></span>T<span class="_ _0"></span>rust – <span class="_ _1"></span>T<span class="_ _0"></span>he Emergence of Blockchain <span class="_ _1"></span>T<span class="_ _0"></span>echnology <span class="ws8"> ..................<span class="_"> </span><span class="ws9"> 3</span></span> </div><div class="t m0 x6 h6 y53 ff6 fs3 fc2 sc0 ls0 ws0">1.2 <span class="_ _7"> </span>How Blockchain <span class="_ _1"></span>T<span class="_ _0"></span>echnology <span class="_ _1"></span>Works – <span class="_ _0"></span>An Overview of K<span class="_ _1"></span>ey Features <span class="wsa"> ................................<span class="_ _8"> </span><span class="ws9"> 5</span></span> </div><div class="t m0 x6 h6 y54 ff6 fs3 fc2 sc0 ls0 ws0">1.3 <span class="_ _7"> </span>K<span class="_ _0"></span>ey Challenges F<span class="_ _0"></span>acing Blockchain <span class="_ _1"></span>T<span class="_ _0"></span>echnology <span class="_ _1"></span>T<span class="_ _0"></span>oday <span class="wsb"> .....................................................<span class="_ _8"> </span></span> <span class="_ _9"> </span>7</div><div class="t m0 x6 h5 y55 ff3 fs3 fc2 sc0 ls0 ws0">2 <span class="_ _6"> </span>BLOCKCHAIN EXAMPLES <span class="_ _0"></span>ACROSS INDUSTRIES<span class="wsc"> .............................................<span class="_ _5"> </span><span class="ws6"> 8</span></span> </div><div class="t m0 x6 h6 y56 ff6 fs3 fc2 sc0 ls0 ws0">2.1 <span class="_ _7"> </span>Citizen Services – Provisioning Digital Identities <span class="wsd"> ............................................................<span class="_ _8"> </span><span class="ws9"> 8</span></span> </div><div class="t m0 x6 h6 y57 ff6 fs3 fc2 sc0 ls0 ws0">2.2 <span class="_ _7"> </span>Retail – Encouraging and Ensuring Ethical,<span class="_ _1"></span> Sustainable Consumption <span class="wse"> ............................<span class="_ _5"> </span><span class="ws9"> 8</span></span> </div><div class="t m0 x6 h6 y58 ff6 fs3 fc2 sc0 ls0 ws0">2.3 <span class="_ _7"> </span>Life Sciences and Healthcare – Enabling a Single Source of <span class="_ _1"></span>T<span class="_ _0"></span>ruth <span class="wsf"> ...................................<span class="_ _8"> </span><span class="ws9"> 9</span></span> </div><div class="t m0 x6 h6 y59 ff6 fs3 fc2 sc0 ls0 ws0">2.4 <span class="_ _7"> </span>Automotive and Manufacturing – Managing Physical <span class="_ _1"></span>Assets with Blockchain <span class="ws10"> ................<span class="_ _5"> </span><span class="ws11"> 10</span></span> </div><div class="t m0 x6 h6 y5a ff6 fs3 fc2 sc0 ls0 ws0">2.5 <span class="_ _7"> </span>Energy – Eliminating Mark<span class="_ _0"></span>etplace Inefficiencies <span class="ws12"> ............................................................<span class="_ _8"> </span><span class="ws11"> 11</span></span></div><div class="t m0 x6 h5 y5b ff3 fs3 fc2 sc0 ls0 ws0">3 <span class="_ _a"> </span>BLOCKCHAIN IN LOGISTICS ............................................................................<span class="_ _5"> </span><span class="ws13"> 12</span> </div><div class="t m0 x6 h6 y5c ff6 fs3 fc2 sc0 ls0 ws0">3.1 <span class="_ _7"> </span>Unlocking <span class="_ _1"></span>Value in Logistics<span class="ws14"> ..........................................................................................<span class="_ _8"> </span></span> <span class="_ _5"> </span>12 </div><div class="t m0 x6 h6 y5d ff6 fs3 fc2 sc0 ls0 ws0">3.2 <span class="_ _7"> </span>F<span class="_ _0"></span>aster and Leaner Logistics in Global <span class="_ _1"></span>T<span class="_ _1"></span>rade <span class="ws15"> ...................................................................<span class="_ _8"> </span></span> <span class="_"> </span>13 </div><div class="t m0 x6 h6 y5e ff6 fs3 fc2 sc0 ls0 ws0">3.3 <span class="_ _7"> </span>Improving <span class="_ _1"></span>T<span class="_ _0"></span>r<span class="_ _0"></span>ansparency and <span class="_ _1"></span>T<span class="_ _1"></span>raceability in Supply Chains <span class="ws16"> ..............................................<span class="_ _8"> </span></span> <span class="_"> </span>14 </div><div class="t m0 x6 h6 y5f ff6 fs3 fc2 sc0 ls0 ws0">3.4 <span class="_ _7"> </span>Automating Commercial Processes in Logistics with Smart Contracts<span class="ws17"> ..............................<span class="_ _8"> </span></span> <span class="_ _5"> </span>17 </div><div class="t m0 x6 h6 y60 ff6 fs3 fc2 sc0 ls0 ws0">3.5 <span class="_ _7"> </span>Getting Started with Blockchain in Logistics <span class="ws18"> ..................................................................<span class="_ _8"> </span></span> <span class="_"> </span>19</div><div class="t m0 x6 h5 y61 ff3 fs3 fc2 sc0 ls0 ws0">CONCLUSION AND OUTLOOK <span class="ws19"> ................................................................................<span class="_ _5"> </span></span> <span class="_ _b"> </span>21</div><div class="t m0 x6 h5 y62 ff3 fs3 fc2 sc0 ls0 ws0">PICTORIAL SOURCES <span class="ws1a"> ..............................................................................................<span class="_ _5"> </span></span> <span class="_ _b"> </span>22</div><div class="t m0 x12 hb y63 ff4 fs6 fc1 sc0 ls0 ws0">T<span class="_ _1"></span>able of Contents<span class="_ _c"></span>2</div></div><div class="pi" data-data='{"ctm":[1.611850,0.000000,0.000000,1.611850,0.000000,0.000000]}'></div></div>
<div id="pf5" class="pf w0 h0" data-page-no="5"><div class="pc pc5 w0 h0"><img class="bi x0 y0 w1 h1" alt="" src="https://static.pudn.com/prod/directory_preview_static/625154906caf5961923ea973/bg5.jpg"><div class="t m3 x6 hc y64 ff2 fs7 fc2 sc0 ls0 ws0">1.1 </div><div class="t m4 x13 hc y64 ff2 fs7 fc2 sc0 ls0 ws0"> <span class="_ _d"></span>Disrupting the Business of <span class="_ _1"></span>T<span class="_ _e"></span>rust – <span class="_ _1"></span>The </div><div class="t m4 x13 hc y65 ff2 fs7 fc2 sc0 ls0 ws0">Emergence of Blockchain <span class="_ _1"></span>T<span class="_ _e"></span>echnology </div><div class="t m5 x6 h8 y66 ff4 fs4 fc2 sc0 ls0 ws0">For centuries, businesses and in some cases entire industries </div><div class="t m0 x6 h8 y67 ff4 fs4 fc2 sc0 ls0 ws0">have been built on the simple principle of trust between </div><div class="t m0 x6 h8 y68 ff4 fs4 fc2 sc0 ls0 ws0">multiple parties. However<span class="_ _1"></span>, this business of trust is about </div><div class="t m0 x6 h8 y69 ff4 fs4 fc2 sc0 ls0 ws0">to be disrupted and transformed with the advent of </div><div class="t m0 x6 h8 y6a ff4 fs4 fc2 sc0 ls0 ws0">blockchain technology<span class="_ _1"></span>.</div><div class="t m0 x6 h8 y6b ff4 fs4 fc2 sc0 ls0 ws0"> </div><div class="t m0 x6 h8 y6c ff4 fs4 fc2 sc0 ls0 ws0">Blockchain can be defined as a distributed ledger tech- </div><div class="t m0 x6 h8 y6d ff4 fs4 fc2 sc0 ls0 ws0">nology that can record transactions between parties in a </div><div class="t m2 x6 h8 y44 ff4 fs4 fc2 sc0 ls0 ws0">secure and permanent way<span class="_ _1"></span>. By ‘sharing’ databases between </div><div class="t m0 x6 h8 y6e ff4 fs4 fc2 sc0 ls0 ws0">multiple parties, blockchain essentially removes the need </div><div class="t m0 x6 h8 y6f ff4 fs4 fc2 sc0 ls0 ws0">for intermediaries who were previously required to act </div><div class="t m0 x6 h8 y70 ff4 fs4 fc2 sc0 ls0 ws0">as trusted third parties to verify<span class="_ _1"></span>, record and coordinate </div><div class="t m0 x6 h8 y71 ff4 fs4 fc2 sc0 ls0 ws0">transactions. By facilitating the move from a centralized </div><div class="t m0 x6 h8 y72 ff4 fs4 fc2 sc0 ls0 ws0">to a decentralized and distributed system (see figure 1), </div><div class="t m0 x6 h8 y73 ff4 fs4 fc2 sc0 ls0 ws0">blockchain effectively liberates data that was previously </div><div class="t m0 x6 h8 y74 ff4 fs4 fc2 sc0 ls0 ws0">kept in safeguarded silos.</div><div class="t m0 x6 h8 y75 ff4 fs4 fc2 sc0 ls0 ws0">What kind of impact could this have on everyday life? </div><div class="t m2 x6 h8 y76 ff4 fs4 fc2 sc0 ls0 ws0">Imagine in healthcare, sensitive data from all stakeholders – <span class="_ _0"></span> </div><div class="t m0 x6 h8 y77 ff4 fs4 fc2 sc0 ls0 ws0">ranging from patients to medical companies – could be </div><div class="t m0 x6 h8 y78 ff4 fs4 fc2 sc0 ls0 ws0">shared using the highest levels of encryption and data </div><div class="t m0 x6 h8 y79 ff4 fs4 fc2 sc0 ls0 ws0">protection to greatly improve service efficiency and </div><div class="t m0 x6 hd y7a ff3 fs8 fc2 sc0 ls2 ws0">1 <span class="_ _f"> </span>UNDERST<span class="_ _1"></span>ANDING BLOCKCHAIN</div><div class="t m0 xf hb y63 ff4 fs6 fc1 sc0 ls0 ws0">Understanding Blockchain<span class="_ _10"> </span>3</div><div class="t m0 xb h8 y7b ff4 fs4 fc2 sc0 ls0 ws0">quality<span class="_ _1"></span>. Or in finance, companies and customers could </div><div class="t m0 xb h8 y7c ff4 fs4 fc2 sc0 ls0 ws0">potentially adopt a common digital currency as an alter-</div><div class="t m0 xb h8 y7d ff4 fs4 fc2 sc0 ls0 ws0">native to traditional money<span class="_ _1"></span>, reducing the cost of transfers </div><div class="t m0 xb h8 y7e ff4 fs4 fc2 sc0 ls0 ws0">and enabling micro transactions. And in logistics, data </div><div class="t m0 xb h8 y7f ff4 fs4 fc2 sc0 ls0 ws0">sharing across the supply chain could enable higher levels </div><div class="t m0 xb h8 y80 ff4 fs4 fc2 sc0 ls0 ws0">of transparency<span class="_ _1"></span>, empowering consumers to make better </div><div class="t m0 xb h8 y81 ff4 fs4 fc2 sc0 ls0 ws0">choices about the products they buy<span class="_ _1"></span>. These are just some </div><div class="t m0 xb h8 y82 ff4 fs4 fc2 sc0 ls0 ws0">of the many opportunities that blockchain presents.</div><div class="t m5 xb h8 y83 ff4 fs4 fc2 sc0 ls0 ws0">Despite its brief history (see figure 2), blockchain is currently</div><div class="t m0 x14 h8 y83 ff4 fs4 fc2 sc0 ls0 ws0"> </div><div class="t m0 xb h8 y84 ff4 fs4 fc2 sc0 ls0 ws0">enjoying a rapid rise to prominence in corporate agendas </div><div class="t m0 xb h8 y85 ff4 fs4 fc2 sc0 ls0 ws0">as well as in the media. Mainstream awareness can be </div><div class="t m0 xb h8 y86 ff4 fs4 fc2 sc0 ls0 ws0">largely attributed to its original application as the under-</div><div class="t m0 xb h8 y87 ff4 fs4 fc2 sc0 ls0 ws0">lying technology of digital currencies, in particular bitcoin </div><div class="t m0 xb h8 y88 ff4 fs4 fc2 sc0 ls0 ws0">(see figure 3 on next page).</div><div class="t m0 x6 he y89 ff5 fs6 fc2 sc0 ls0 ws0">Figure 2: <span class="ff4">A history of blockchain technology;</span> Sour<span class="_ _0"></span>ce:<span class="ff4"> Accenture</span></div><div class="c x15 y8a w2 hf"><div class="t m0 x0 h10 y8b ff7 fs9 fc2 sc0 ls0 ws0"><span class="fc6 sc0">The concept of distributed</span></div><div class="t m0 x0 h10 y8c ff7 fs9 fc2 sc0 ls0 ws0"><span class="fc6 sc0">computing has been around</span></div><div class="t m0 x0 h10 y8d ff7 fs9 fc2 sc0 ls0 ws0"><span class="fc6 sc0">since 1990</span></div></div><div class="c x16 y8e w3 h11"><div class="t m0 x0 h10 y8f ff8 fs9 fc2 sc0 ls0 ws0"><span class="fc6 sc0">Satoshi Nakomoto created</span></div><div class="t m0 x0 h10 y90 ff8 fs9 fc2 sc0 ls0 ws0"><span class="fc6 sc0">bitcoin and introduced</span></div><div class="t m0 x0 h10 y91 ff8 fs9 fc2 sc0 ls0 ws0"><span class="fc6 sc0">the concept of a blockchain</span></div><div class="t m0 x0 h10 y92 ff8 fs9 fc2 sc0 ls0 ws0"><span class="fc6 sc0">to create a decentralized</span></div><div class="t m0 x0 h10 y93 ff8 fs9 fc2 sc0 ls0 ws0"><span class="fc6 sc0">ledger maintained by </span></div><div class="t m0 x0 h10 y94 ff8 fs9 fc2 sc0 ls0 ws0"><span class="fc6 sc0">anonymous consensus </span></div></div><div class="c x17 y95 w4 h12"><div class="t m0 x0 h10 y96 ff9 fs9 fc2 sc0 ls0 ws0"><span class="fc6 sc0">Market evolution,</span></div><div class="t m0 x0 h10 y97 ff9 fs9 fc2 sc0 ls0 ws0"><span class="fc6 sc0">sub-development </span></div><div class="t m0 x0 h10 y98 ff9 fs9 fc2 sc0 ls0 ws0"><span class="fc6 sc0">and exploration</span></div><div class="t m0 x0 h10 y99 ff9 fs9 fc2 sc0 ls0 ws0"><span class="fc6 sc0">across industries</span></div></div><div class="c x18 y8a w5 hf"><div class="t m0 x19 h10 y8b ffa fs9 fc2 sc0 ls0 ws0"><span class="fc6 sc0">The deployment of</span></div><div class="t m0 x1a h10 y8c ffa fs9 fc2 sc0 ls0 ws0"><span class="fc6 sc0">cryptocurrency in</span></div><div class="t m0 x0 h10 y8d ffa fs9 fc2 sc0 ls0 ws0"><span class="fc6 sc0">applications related to cash</span></div></div><div class="c x1b y9a w6 h13"><div class="t m0 x1c h10 y9b ffb fs9 fc2 sc0 ls0 ws0"><span class="fc6 sc0">Currency transfer</span></div><div class="t m0 x0 h10 y9c ffb fs9 fc2 sc0 ls0 ws0"><span class="fc6 sc0">and digital payment</span></div><div class="t m0 x1d h10 y9d ffb fs9 fc2 sc0 ls0 ws0"><span class="fc6 sc0">systems</span></div></div><div class="c x1e y9e w7 h14"><div class="t m0 x1c h10 y9f ffc fs9 fc2 sc0 ls0 ws0"><span class="fc6 sc0">Evolution of</span></div><div class="t m0 x0 h10 ya0 ffc fs9 fc2 sc0 ls0 ws0"><span class="fc6 sc0">smart contracts</span></div></div><div class="c x1f y8a w8 hf"><div class="t m0 x20 h10 y8b ffd fs9 fc2 sc0 ls0 ws0"><span class="fc6 sc0">Financial markets and</span></div><div class="t m0 x0 h10 y8c ffd fs9 fc2 sc0 ls0 ws0"><span class="fc6 sc0">applications using blockchain</span></div><div class="t m0 x21 h10 y8d ffd fs9 fc2 sc0 ls0 ws0"><span class="fc6 sc0">beyond cash transactions</span></div></div><div class="c x22 ya1 w9 h15"><div class="t m0 x0 h10 ya2 ffe fs9 fc2 sc0 ls0 ws0"><span class="fc6 sc0">Permissioned blockchain</span></div><div class="t m0 x0 h10 ya3 ffe fs9 fc2 sc0 ls0 ws0"><span class="fc6 sc0">network solutions </span></div></div><div class="c x23 ya4 wa h16"><div class="t m0 x0 h17 ya5 fff fsa fc4 sc0 ls0 ws0"><span class="fc6 sc0">1990s</span></div></div><div class="c x24 ya6 wb h18"><div class="t m0 x0 h19 ya7 ff10 fsb fc4 sc0 ls0 ws0"><span class="fc6 sc0">BLOCKCHAIN HIST</span><span class="_ _e"></span><span class="fc6 sc0">OR</span><span class="_ _e"></span><span class="fc6 sc0">Y</span></div></div><div class="c x2 ya8 wc h16"><div class="t m0 x0 h17 ya9 ff11 fsa fc4 sc0 ls0 ws0"><span class="fc6 sc0">2009</span></div></div><div class="c x25 ya8 wd h16"><div class="t m0 x0 h17 ya9 ff12 fsa fc4 sc0 ls0 ws0"><span class="fc6 sc0">2012 - 2013</span></div></div><div class="c x26 ya8 we h16"><div class="t m0 x0 h17 ya9 ff13 fsa fc4 sc0 ls0 ws0"><span class="fc6 sc0">2014 - 2015</span></div></div><div class="c x17 ya8 wd h16"><div class="t m0 x0 h17 ya9 ff14 fsa fc4 sc0 ls0 ws0"><span class="fc6 sc0">2016 - 2017</span></div></div><div class="c x27 ya4 wd h16"><div class="t m0 x0 h17 ya5 ff15 fsa fc4 sc0 ls0 ws0"><span class="fc6 sc0">2011 - 2012</span></div></div><div class="c x28 ya4 wd h16"><div class="t m0 x0 h17 ya5 ff16 fsa fc4 sc0 ls0 ws0"><span class="fc6 sc0">2013 - 2014</span></div></div><div class="c x29 ya4 wd h16"><div class="t m0 x0 h17 ya5 ff17 fsa fc4 sc0 ls0 ws0"><span class="fc6 sc0">2015 - 2016</span></div></div><div class="c x2a yaa wf h1a"><div class="t m0 x0 h1b yab ff18 fsc fc2 sc0 ls0 ws0"><span class="fc6 sc0">Application</span></div></div><div class="c x2b yaa w10 h1a"><div class="t m0 x0 h1b yab ff19 fsc fc2 sc0 ls0 ws0"><span class="fc6 sc0">Contracts</span></div></div><div class="c x2c yaa w11 h1a"><div class="t m0 x0 h1b yab ff1a fsc fc2 sc0 ls0 ws0"><span class="fc6 sc0">T</span><span class="_ _1"></span><span class="fc6 sc0">ransactions</span></div></div><div class="c x2d yaa w12 h1a"><div class="t m0 x0 h1b yab ff1b fsc fc2 sc0 ls0 ws0"><span class="fc6 sc0">Origin</span></div></div><div class="t m0 x6 h1c yac ff5 fsd fc2 sc0 ls0 ws0">BLOCKCHAIN HISTOR<span class="_ _0"></span>Y</div><div class="t m0 xb he yad ff5 fs6 fc2 sc0 ls0 ws0">Figure 1: <span class="ff4">Going from a centralized to a decentralized, distributed </span></div><div class="t m0 xb he yae ff4 fs6 fc2 sc0 ls0 ws0">database using blockchain; <span class="ff5">Source:</span> DHL</div><div class="t m0 x2e he yaf ff5 fs6 fc5 sc0 ls0 ws0">CENTRALIZED<span class="_ _11"> </span>DISTRIBUTED</div><div class="t m0 x2f he yb0 ff5 fs6 fc5 sc0 ls0 ws0">DECENTRALIZED</div></div><div class="pi" data-data='{"ctm":[1.611850,0.000000,0.000000,1.611850,0.000000,0.000000]}'></div></div>
