AMEX, Walmart, Honeywell and others discuss their blockchain projects
Hyperledger Global Forum 2020 took place in Phoenix, Arizona in March and started with an opening happy hour sponsored by Accenture where the subject of diversity and inclusion was tackled through team trivia. It ended at an off-site rodeo where attendees socialized with the connections they made during the previous three days. But, the real magic happened in between. Here we take a look at two sessions that highlight a variety of use cases.
Keynote Panel: Blockchain in Action
During the Blockchain in Action panel, industry leaders American Express, Honeywell and Walmart discussed their live blockchain projects, which focus on making customers’ lives easier.
American Express talked about their reward system called Flexible Rewards. Flexible Rewards is a blockchain-based loyalty points reward program that gives merchants flexibility in how they award points. For example, merchants may target specific customers, offer rewards for specific products, or incentivize specific customer behavior.
Honeywell has built a marketplace for new and used aviation parts called GoDirect Trade. GoDirect Trade provides a frictionless and transparent transaction experience to streamline the buying and selling process. It only allows quality listings posted from certified trusted sellers, which greatly increases the trust between transaction participants. GoDirect Trade General Manager, Lisa Butters, describes it as a “CarFax” for used aerospace parts; buyers can authenticate the legitimacy of a part by having a full record of the item’s lifecycle, from previous owners to repairs, etc.
Walmart, which recently joined Hyperledger as a consortium member, shared how they collaborated to create IBM Food Trust, a blockchain solution for food tracking and traceability. Its main premise is to build a safer, smarter, and more sustainable food ecosystem. Through the use of blockchain, Walmart and Food Trust provide an efficient way of working across the supply chain, including growers, processors, shippers, retailers, regulators, and consumers. With Walmart being one of the largest retailers in the world, they bring a great deal of supply chain expertise to the Hyperledger open source community.
The panel had a lot more to say about blockchain; catch the full segment here:
Forbes Blockchain 50 Roundtable
During this roundtable discussion, Microsoft, IBM and Honeywell addressed a variety of issues surrounding blockchain in an open and transparent conversation about the current state of blockchain. Presenters were asked to showcase some of their less known and unique blockchain projects.
Microsoft has a payment solution with game royalties for Xbox. Since Xbox has quite a large ecosystem, Microsoft developed a blockchain solution that pays game developers royalties based on the amount of gameplay attracted by their games. This helps small and indie game developers get the money they deserve based on the work they’ve done.
IBM has collaborated on a number of massive, well-publicized blockchain projects, including IBM Food Trust, Trust Your Supplier, we.trade, and TradeLens. However, the tech-giant was proud to share details about its lesser known blockchain projects. One of them being their effort to help small theaters sell tickets directly to attendees through blockchain. The goal is to eliminate fees deducted by ticket distributing operators like Ticketmaster. In this case, blockchain is optimizing the sales process by removing intermediaries, reducing pain points and increasing revenue for small playhouses.
Honeywell uses blockchain for a climate accountability initiative in addition to their GoDirect Trade project. Currently, utility companies manually input data to calculate emission numbers. Honeywell is using blockchain to streamline the tracking of monthly greenhouse gas emissions.
All three of these use cases have one thing in common, they offer meaningful changes to existing business processes. Listen to what else was shared during the session here: