{"id":1778,"date":"2017-07-12T02:43:05","date_gmt":"2017-07-12T00:43:05","guid":{"rendered":"http:\/\/blogs.gm.fh-koeln.de\/bente\/?p=1778"},"modified":"2019-07-12T02:45:22","modified_gmt":"2019-07-12T00:45:22","slug":"gp-ws17_a02-proof-of-concept-for-smart-contracts-based-on-blockchain","status":"publish","type":"post","link":"http:\/\/blogs.gm.fh-koeln.de\/bente\/2017\/07\/12\/gp-ws17_a02-proof-of-concept-for-smart-contracts-based-on-blockchain\/","title":{"rendered":"GP WS17_A02: Proof-of-Concept for Smart Contracts Based on Blockchain"},"content":{"rendered":"<h3>Problem Description<\/h3>\n<p class=\"lead\">Blockchain has gained a (sometimes somewhat infamous) reputation as basis for crypto-currencies like BitCoin. But actually, the potential of blockchain reaches far beyond ersatz currencies.<\/p>\n<p>Basically, a blockchain is a secure, distributed ledger (i.e. master record) of transactions. <em>All<\/em> transactions can be verified by <em>all<\/em> participants at <em>any<\/em> given time. No transaction can be altered without being noticed. This makes blockchain a great base for so-called \u201csmart contracts\u201d.<\/p>\n<p>Blockchain-based smart contracts have the potential to disrupt all \u201ctrust platform\u201d businesses \u2013 as the trust is kind of built into the technology, there is no need for a centralized <em>platform-in-the-middle<\/em> approach anymore. This is a challenge for the Ubers, AirBnbs, insurances, and banks of this world. Blockchain-based smart contracts offer a reliable, light-weight, and therefore cheap way of creating small-footprint transactions between market participants.<\/p>\n<p>A great introduction to get started on the subject is this reference architecture document: <a href=\"http:\/\/www.cloud-council.org\/deliverables\/CSCC-Cloud-Customer-Architecture-for-Blockchain.pdf\">http:\/\/www.cloud-council.org\/deliverables\/CSCC-Cloud-Customer-Architecture-for-Blockchain.pdf<\/a>.<\/p>\n<h3>Project Definition<\/h3>\n<p>In this project, we will design a showcase for a smart contract based on blockchain technology. For the purpose, the team will conduct the following steps:<\/p>\n<ul>\n<li>Selection of a proper showcase application\n<ul>\n<li>In collaboration with our project partner, Viadee consulting, the team will pick a showcase, for instance an <strong>ad-hoc insurance contract<\/strong> like\n<ul>\n<li>insuring passengers and material during the test drive of a car<\/li>\n<li>insuring open air parties or festivals (i.e. marriages, birthdays, concerts, \u2026) against cancellation or damages due to bad weather<\/li>\n<li>insuring medium-priced goods like smart phones, tablets, ski, bikes,\u2026 against risk of damage, loss, or theft during a period of increased risk (travel, sports competition, relocation, \u2026)<\/li>\n<\/ul>\n<\/li>\n<li>As of planned today, there will be another additional project partner, most likely an international insurance company, helping us with picking a realistic showcase.<\/li>\n<\/ul>\n<\/li>\n<li>The subsequent steps will be conducted in two parallel, coupled subprojects:\n<ul>\n<li>Technology &amp; Implementation (<strong>this project<\/strong>)\n<ul>\n<li>Implementation of the smart contract using <strong>Hyperledger<\/strong> <strong>Fabric<\/strong> (<a href=\"https:\/\/www.hyperledger.org\/projects\/fabric\">https:\/\/www.hyperledger.org\/projects\/fabric<\/a>)<\/li>\n<li>Evaluation of technical obstacles and pitfalls<\/li>\n<li>Identification of good practices and architectural patterns for building blockchain-based smart contracts<\/li>\n<\/ul>\n<\/li>\n<li>Business Case (<strong>the other project<\/strong>, supervised by Prof. Eckstein) \u2013 please see other description<\/li>\n<\/ul>\n<\/li>\n<li>Assessment of blockchain-based smart contracts with regard to the showcase at hand<\/li>\n<li>Documentation and presentation<\/li>\n<\/ul>\n<h3>Learning Outcomes<\/h3>\n<ul>\n<li>Gaining familiarity with a state of the art technology<\/li>\n<li>Out-of-the-box thinking, practically applied to some everyday business application<\/li>\n<li>Designing and implementing a realistic business case<\/li>\n<li>Working together in mixed team (business &amp; technology)<\/li>\n<\/ul>\n<h3>Requirements<\/h3>\n<ul>\n<li>Willingness to delve into an hitherto unknown technological concept<\/li>\n<li>Interest in business model and large-scale implications of technologies<\/li>\n<li>Programming skills<\/li>\n<li>Willingness and ability to adopt a new technology and programming model (Hyperledger Fabric)<\/li>\n<\/ul>\n<h3>External Project Partner<\/h3>\n<ul>\n<li>Viadee Consulting, <a href=\"https:\/\/www.viadee.de\">https:\/\/www.viadee.de<\/a><\/li>\n<li>Probably an insurance company, to be decided yet<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Problem Description Blockchain has gained a (sometimes somewhat infamous) reputation as basis for crypto-currencies like BitCoin. But actually, the potential of blockchain reaches far beyond ersatz currencies. Basically, a blockchain is a secure, distributed ledger (i.e. master record) of transactions. All transactions can be verified by all participants at any given time. No transaction can&#8230;  <a href=\"http:\/\/blogs.gm.fh-koeln.de\/bente\/2017\/07\/12\/gp-ws17_a02-proof-of-concept-for-smart-contracts-based-on-blockchain\/\" class=\"more-link\" title=\"Read GP WS17_A02: Proof-of-Concept for Smart Contracts Based on Blockchain\"><?php _e(\"Read more &raquo;\",\"wpbootstrap\"); ?><\/a><\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[50732],"tags":[27538,50756,50755,27506,50754],"class_list":["post-1778","post","type-post","status-publish","format-standard","hentry","category-eigene-gps","tag-blockchain","tag-hyperledger-fabric","tag-ibm","tag-versicherung","tag-viadee"],"acf":[],"_links":{"self":[{"href":"http:\/\/blogs.gm.fh-koeln.de\/bente\/wp-json\/wp\/v2\/posts\/1778","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/blogs.gm.fh-koeln.de\/bente\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/blogs.gm.fh-koeln.de\/bente\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/blogs.gm.fh-koeln.de\/bente\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"http:\/\/blogs.gm.fh-koeln.de\/bente\/wp-json\/wp\/v2\/comments?post=1778"}],"version-history":[{"count":1,"href":"http:\/\/blogs.gm.fh-koeln.de\/bente\/wp-json\/wp\/v2\/posts\/1778\/revisions"}],"predecessor-version":[{"id":1779,"href":"http:\/\/blogs.gm.fh-koeln.de\/bente\/wp-json\/wp\/v2\/posts\/1778\/revisions\/1779"}],"wp:attachment":[{"href":"http:\/\/blogs.gm.fh-koeln.de\/bente\/wp-json\/wp\/v2\/media?parent=1778"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/blogs.gm.fh-koeln.de\/bente\/wp-json\/wp\/v2\/categories?post=1778"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/blogs.gm.fh-koeln.de\/bente\/wp-json\/wp\/v2\/tags?post=1778"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}