Zensoft CEO presents at the UN’s Blockchain Summit:
Uncovering real-world business applications of blockchain
Zensoft CEO, David Tolioupov, joins thought leaders in government, technology, and industry on stage at the 2019 ICAO Blockchain Aviation Summit and Exhibition in Dubai, UAE.
Zensoft CEO, David Tolioupov, presented at the 2019 ICAO Blockchain Aviation Summit, a conference that showcases innovations in Blockchain that support secure and economically-viable civil aviation systems (hosted by ICAO, a United Nations agency). David drew from Zensoft’s expertise in blockchain development to demonstrate how airlines can use blockchain technology to revolutionize cargo transport in the ULD operational chain.
It’s inherently difficult to articulate the immense value of Blockchain technology, particularly because adoption of its practical applications for the Enterprise is still in its early stages. Zensoft’s work with blockchain development, however, gives us first-hand experience with its impact and a framework for articulating its business value. Blockchain can not only cut costs for and efficientize an enterprise, but can serve as a core player in the innovation strategy of an organization.
Tolioupov showcased a compelling application of blockchain for the Aviation and Logistics vertical that highlights 3 key tenets of blockchain’s value proposition for the enterprise:
Unbundling Trust
UDL asset transfer, moving cargo through a complex transportation operational chain with varied participants (different vendors and third parties), can be lossy. Verification becomes a challenge when many parties are involved and it’s difficult to guarantee the safe and loss-less transfer of goods.
Thinking of blockchain as more than a ledger helps us address this problem. Blockchain is essentially a peer-to-peer network that unbundles trust: using blockchain infrastructure to power a system can create verifiability in a distrustful environment, like the UDL operation chain. This allows us to move value from point A to point B without relying on entities acting as middlemen or third-parties to police the process.
Cutting Costs
The ability to track the lifecycle of an asset as it moves from source to destination means we can track and pinpoint when damage and loss occurs without the need for extensive audits. This results in a reduction in operational costs and a boost in quality of service for all parties involved.
Increasing Efficiency
Giving vendors access to the same decentralized database and transaction platform speeds up the rate at which the enterprise conducts business. A permissioned blockchain (a security configuration where only certain parties have access) can provide a trusted setup for enterprises and help comply with regulatory concerns.
Is Blockchain Right for You?
It’s not always obvious where blockchain technology can benefit your organization’s workflow or which technologies in the blockchain stack are best suited for your product. Partner with Zensoft to tap into our expertise: we’ve built innovative blockchain-based products and record-breaking blockchain technology for Enterprises and Startups.
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