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The First Enterprise Blockchain Platform

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On VAKT we built a decentralised architecture with blockchain for commodity post-trading. During this session we would like to talk through; key considerations & challenges around decentralised architectures, patterns around maintaining & evolving immutable code [smart contracts] and building a real world system on top of the utopia of blockchain.

Publié dans : Logiciels
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The First Enterprise Blockchain Platform

  1. 1. The First Enterprise Blockchain Platform Lucy Kurian Shodhan Sheth
  2. 2. Agenda ● Context ○ Delivery/ Organizational / Business ○ What is blockchain ? ● Decision Journey ○ Role of Blockchain ○ Smart Contract ■ What is a Smart Contract ? ■ Degrees of Privacy ■ Managing change - Incremental Delivery ○ Key takeaways
  3. 3. Context
  4. 4. Context - Organizational / Business/ Delivery ● Backed by energy and finance consortia [Fortune 20] ● Build for enterprises, in startup mode ● Post-Trade [OTC] Confirmations, Trade finance integration & Cargo operations for a water borne market ● Ambition to operationalize in 3 additional markets ● 6 months to operationalizing for investor customers ○ Ramp up to 70 people for delivery in first 6 weeks ● Very little production history of chosen blockchain technology [quorum]
  5. 5. Context - What is blockchain
  6. 6. Context - What is blockchain ● Shared/ Distributed - Available to all/ multiple parties ● Decentralized - No central controlling authority ● Permanence/ Tamper resistant - Modifications are extremely hard ● Programmable - Executable logic (ex: smart contracts) ● Data Integrity - Cryptographically verifiable Considerations / benefits ● Permissioned - Not open for anyone to join ● Private - Not available to all/ multiple parties Enterprise blockchain considerations
  7. 7. Decision Journey
  8. 8. Role of blockchain What are the responsibilities of the blockchain in the overall solution?
  9. 9. "Something" on the blockchain Considerations/ decision factors
  10. 10. Interaction with the blockchain Smart Contracts ● Code as Data ● Shared - Transparent processing ● Cryptographically verifiable ● Immutable
  11. 11. Interaction with the blockchain Smart Contracts ScoreCard.java ScoreCard.class JVM ScoreCard.sol ScoreCard.abi EVM
  12. 12. Degrees of Privacy Public vs Private
  13. 13. Smart Contracts ● How does one achieve incremental delivery when code is immutable, permanent & shared ? ● Every iterative & incremental change in functionality is new a layer of immutable code ● A bug fix cannot be just a change in a smart contract Incremental delivery and bug fixes
  14. 14. Smart Contracts - Incremental Delivery ScoreCard Contract V0 wrapper V1 ScoreCard Contract V1
  15. 15. Smart Contracts Smart contracts post upgrade ScoreCard Contract Registry ... Contract ScoreCard Contract V0 V0 V0 V0 wrapperRegistry V1 V1 wrapper V1 ScoreCard Contract V1 new Contract with full functionality
  16. 16. Smart contracts - Managing change ● Testing per release turned out to be uber-expensive ● We needed separate blockchain networks for testing current and new version of smart contracts at the same time ● Development complexity and effort per wrapper was high ● The smart contract upgrade had a significant impact on deployment times What we learnt from our choices?
  17. 17. Key takeaways ● Business collaboration on evaluating effort vs value trade-off of blockchain usage ● Considerate usage of smart contracts - Immutable code is a world we do not understand well ● Be ready for multiple pivots/ iterations - Test & Learn is key when dealing with novel technologies

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