What is Hyperledger Fabric? Is it the right fit for your business?

What is Hyperledger Fabric? Is it the right fit for your business?

Hello and welcome to the Akeo tech
channel where business and technology are two peas in a pod. My name is Louie Procopio and today we’re going to be talking about a very exciting open
sourced blockchain project. It is dubbed the blockchain for business. It’s modular,
it’s plug-and-play, it’s Hyperledger Fabric. So here at Akeo we don’t just work with
software development we also work with something called concept development.
We’ve worked with a lot of businesses, with a lot of different business models
and business structures. An important part of the concept development process
would be knowing which technologies to use. Hyperledger Fabric is a permission
blockchain and one of the many tools available to help businesses and
existing systems increase efficiency or even do things that were once impossible.
Today I had the opportunity to sit down and have a Hyperledger chat with a
co-worker who knows a lot about the subject. I guess you can call him my
first guest. Espen is the CEO of AKEO and he’s here today to talk a little bit about Hyperledger Fabric. We’re seeing more and more that Hyperledger really has a good fit in the business world What is it about the configuration or
you know what is it about Hyperledger Fabric that makes it a better fit than
than Ethereum for example. So the really short version is that for Ethereum everything is public and everything is permissionless. Practical ways that
we would say that all transactions can be seen by everyone. Right so let’s say I
mean in most enterprise cases you don’t want that to happen. Let’s say some basic
stuff like you know there’s someone selling something and you have some
customers and maybe some customers have better price and other customers usually
there’s different deals or get right and you don’t want them to see that the data
I mean you don’t want to customer want to see the data from customer two.
In Ethereum there’s nothing you can do I mean everything is open but for Hyperledger I mean this is by design this is how it’s made, so
you can actually split the ledger meaning some participant can just see
some of the ledger and we can set up like this so the configuration with roles how
we can configure it really makes it extremely good stack for business
cases. For each organization and for simplicity let’s just say one organization is a company that they can run multiple peers it’s called peers in each installment. The peers again I’m not gonna get too
technical but the peers can can have different types of peers as well but we
can leave that for another technical walk through So just to keep it very simple one organization will keep their part of the ledger and they can
share it with some part can be shared with other companies. So it’s a
perfect setup for having for example competitors working together on
something like supply chains. Gonna be huge on the Hyperledger because let’s say shipping like you have different companies actually being
competitors but we can work together in a standardized way and in Ethereum this
is called smart contracts. On Hyperledger we call it chain code. So you
can write code which will what can I say which will define how trust is
enforced between these companies. Because blockchain is all about trust. Blockchains are distributed among nodes and I guess the difference between the Hyperledger blockchain and the Ethereum is that
they’re still in Hyperledger distributed among nodes but can you talk
a little bit about where decentralization is really up to those
that are configuring the blockchain. Hyperledger is in most set up less
decentralized than Ethereum but I would say it’s as decentralized as it needs to be, to support the case or the business case you’re using and
that’s something that can always be configured according to whatever the
needs. Absolutely and I mean according to budget I mean you can just keep on
splitting up nodes right making it really big But what’s the meaning of it?
So, there are a lot of use cases where Ethereum is a better fit also
for business to business applications. So, it’s back to what you said
about concept development is what we do here. We create concepts for people. So
this is something that we look in each business case. Blockchain is being
pushed as like a solution that will fix all problems and in my opinion
or not opinion this is more of a fact Blockchain is a tool to be used for some
things. And it’s part of a bigger delivery like standard ways of
having a database, having business logic off-chain. In most cases it makes sense to
have that. They don’t need it necessarily. No and in many cases it would just
make it harder and less user-friendly and you know more work to maintain it so
it’s very important for companies like us to not try to oversell the
concept of a blockchain. In a lot of cases it makes sense but still
technology is young, it’s immature but in my opinion we’re seeing the
start of something that will be really really huge. And for me Hyperledger supported by Linux Foundation, IBM is a big player here. This is for me the best
enterprise blockchain we have today Awesome! Yeah it is. All right! Well thank you very much for being on the show today Espen.
Thank You for having me. Hopefully we’ll talk to you soon again. We will. So blockchain is not an end-all-problem-solver. There is a need for a
less decentralized and less transparent blockchain And Hyperledger isn’t necessarily the only option for your b2b business model. I hope you’re learning something new with every episode. You may not feel like an expert, but I think
that’s okay I’m no expert and we’re here together, learning together. Before I ask you to pretty please like and subscribe Here comes this week’s critical thinking
question. How can a Hyperledger Fabric blockchain be distributed among nodes potentially spread across the globe but still be classified as a centralized
blockchain? Are those wheels turning? Do you think you know the answer? Don’t be shy comment below. Also if you’ve heard anything today that you absolutely disagree with then let’s discuss it in the comment section. Are
you interested in learning more about how blockchain is being used today and
what problems businesses are trying to solve with this technology. Then head on over to Akeo.Tech where you can download our free guide for business professionals. Thank you so much for watching I’ll see you next week when we
take a look at yet another stunning blockchain for business. It’s also an
open source project, it’s supported by organizations like Amazon Web Services,
Intel and an army of banks, it’s dubbed the blockchain for finance – it’s Corda
See you next week. Bye Bye

4 Replies to “What is Hyperledger Fabric? Is it the right fit for your business?”

  1. Really great explanation. Thank you for this. Also would like to know the answer to the last question that you asked here.

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