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Method and Apparatus for Application Driven Blockchain Trust Selection System in Blockchain Fabric

IP.com Disclosure Number: IPCOM000246059D
Publication Date: 2016-Apr-29
Document File: 4 page(s) / 391K

Publishing Venue

The IP.com Prior Art Database

Abstract

Disclosed is a method for application-driven selection of a blockchain trust system in blockchain fabric. The idea is to support a base blockchain fabric with modular blockchain trusts systems and relieve the end user of making (wrong) choices that can prove expensive.

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Method and Apparatus for Application Driven Blockchain Trust Selection System in Blockchain Fabric

Blockchain promises systemic security as a trust currency. Economic transactions on a distributed ledger can be programmed to virtually record anything of value: user identity, a will, a deed, a title, a license, intellectual property, and almost any type of financial instrument. The still-emerging technology landscape and the ecosystem are quite fragmented. The following are some notable concepts:

• Technology behind the trust system - Consensus, mining, public ledger • Secret communication on open networks - Cryptography and encryption
• Non-repudiation systems -Visibility to stacks of processes

Blockchain applications focus on solving a single problem such as payment, smart contracts, trading platforms, identity management, etc. This implies that the blockchain infrastructure needs to be provisioned for growth for a singular model and single use case. While this might be sufficient for a purpose-built blockchain, it imposes challenges for an enterprise such as a financial institution that may have multiple use cases, each requiring a different trust system (e.g., consensus, mining, POW or POS, etc.). That situation forces an enterprise to create a separate infrastructure fabric with a specific trust system.

A method is needed to address the problem of selecting the best-suited algorithms and consensus models for a business and its specific problems, from the myriad available.

The novel solution is a method for application-driven selection of a blockchain trust system in blockchain fabric. The idea is to support a base blockchain fabric with modular blockchain trusts systems and relieve the end user of making (wrong) choices that can prove expensive. The novel approach discerns and selects the blockchain trust system based on application type and applies that to the business specific blockchain.

The solution also addresses the ability of the blockchain provisioning interface to not only provide a vehicle for the selection of appropriate consensus and trust systems, but also to focus on interoperability (i.e., cross-ledger systems).

The Decision Support module provides a decision support system for factoring-in the business domain (i.e., use-case specific) and technical characteristics (e.g., transaction, velocity, integrity, etc.) of the blockchain systems. The idea is to make the blockchain infrastructure consumable and driven by the business and technical requirements as opposed to the complex computer science...