Google Cloud Platform Climbs Aboard the Blockchain TrainOctober 19, 2018
Google has entered into a partnership with Digital Asset and BlockApps to bring Blockchain offerings onto its Google Cloud Platform (GCP).
This changing of hands causes discrepancies appear in the records.
O&G are looking at Blockchain technology as it provides a decentralised record of all transactions.
Using a smart contract embedded in the chain, companies can add invoice calculation into the app that takes into account rates, distance travelled and track and trace capabilities.
The blockchain is a journal that adds a new block of transactions or information in intervals.
BlockApps have also been included into the Google Cloud Platform as a blockchain-as-a-service offering.
Senior Lecturer in Governance of Advanced Information Technologies at the University of Derby , Richard Self told Computer Business Review: “This partnership between BlockApps and Google Cloud Platform is a useful development.
Smart Contracts are digital contracts that are stored and actioned within a blockchain.
Due to its decentralised nature the Blockchain takes out the traditional middle person that is required in legal or financial contracts, such as a lawyer or banker.
Martha Bennett analyst at Forrester agrees that: “Ethereum in its current form isn’t that suitable for enterprise use cases, it can’t scale, and it doesn’t support confidentiality; that’s aside from the general lack of maturity.”
As blockchain is a digital, decentralised ledger that keeps a record of all transactions that take place across a peer-to-peer network, the potential applications for Google are enormous. For example, after the Cambridge Analytica and Facebook scandal, users across the globe worrying about the safety of their data. Blockchain could be one of the ways the search engine giant who has a considerable stake in cloud business a…