New Kid on the Block: Information Builders Joins the Hyperledger Consortium

Jake Freivald's picture
 By | november 06, 2017
in bi, block chain. jake freivald, blockchain, Business Intelligence, data, data integration, hyperledger, Information Builders, iWay, webfocus
november 06, 2017

Information Builders recently joined the Hyperledger Consortium, an open source collaborative effort formed to advance cross-industry blockchain technologies.

That’s a mouthful so let me unpack it for you.

A blockchain is a distributed ledger of transactions that can record any type of information. This rapidly emerging peer-to-peer business model is making inroads in finance, banking, Internet of things (IoT), manufacturing, logistics, supply chain management, and other domains. Information Builders joined many other vendors in this open source effort, which is supported by IBM through the Linux Foundation.

There is a lot of excitement surrounding these developments. Harvard Business Review said blockchains have the potential to create new foundations for our economic and social systems. By transferring value between parties without having to rely on a third party or middleman, a blockchain provides an important trust layer for Internet transactions.

Think of a blockchain as a historical record of transactions. Each block is chained to the previous block in sequence, and is immutably recorded across a peer-to-peer network. Cryptographic trust and assurance technology equates a digital fingerprint or unique identifier to each transaction, as shown below.

Trust, accountability, transparency, and security are locked into the blockchain. The result is an autonomously managed database, offering a decentralized, non-repudiable, highly scalable, and resilient recording mechanism.

Blockchain applications are continuing to evolve. For example, finance companies can use blockchain applications to establish efficient payment processes, including clearing and settlement, loan origination, and trading transactions. Logistics companies can establish blockchains to track shipments, bills of lading, and ownership transfers. Manufacturing companies can use these public ledgers to track product histories, exchange shipping instructions, and report quality defects within a worldwide supply chain. Pharmaceutical companies are starting to use blockchains for lot tracking, clinical trial management, and regulatory control.

Information Builders focuses several of its mature technologies on the blockchain space. These include our iWay Service Manager integration suite, our Omni-Gen data quality/mastering suite, and our WebFOCUS business intelligence suite. These tools simplify the introduction of blockchains into your application environment and ensure quality use of this new technology.

Integration: Information Builders’ iWay Service Manager technology works as a middleware layer to integrate many types of applications, databases, and computing platforms into blockchain applications. iWay process flows can introduce transactions to the ledger, and can query and retrieve information from the ledger. 

Integrity: Our data integrity solutions can eliminate redundancies and duplications in any data set, helping to enforce consistency and standardization and avoid missing or incomplete data within blockchain applications. Data quality management, data governance, master data management, and data profiling tools are all included in this suite of solutions.

Intelligence: WebFOCUS enables blockchain applications to turn raw data into instant insights with an integrated portfolio of capabilities for data management, visual discovery, predictive analytics, and operational intelligence.

Information Builders has more than four decades of experience with application integration and data integration via service-oriented and event-oriented architecture, and these proven integration capabilities can easily be applied to blockchain applications. For example, our iWay Service Manager (iSM) integration engine works with and alongside your Hyperledger Fabric-based blockcahin applications. Incorporating iSM into the blockchain workflow simplifies development processes and accelerates implementations. iSM graphically builds your process flow and provides full integration and configuration via adaptors. The capability for both synchronous and asynchronous transaction posting to the blockchain also enables transaction analysis. The in-process flow query offers transaction intelligence and the ability to print logical reports. 

We’re looking forward to seeing you around the neighborhood.