Blockchain is more than cryptocurrency, it is a technological foundation to a new way of conducting transactions, securing networks, and recording the validity and origin of data. Blockchain will allow a new perspective on how humans interact with society's challenges; touching upon everything from conducting financial transactions, energy trading, carbon emission trading, access to healthcare records, to the protection of the valued assets of corporations and nation states.
IEEE Blockchain is currently exploring the application of blockchain and related technologies across several verticals and aims to address the many challenges and opportunities that arise.
Blockchain-Enabled Transactive Energy
Blockchain-enabled transacted energy (BCTE) is a technology that has the potential to create an open, trusted, and transparent energy marketplace. This is important to society as it has the potential to lower the cost of renewable energy investments, improve our ability to combat climate change, encourage more participants into the renewables market, and increase the amount of innovation through transparent standards and access to the grid. IEEE, as the world’s premier professional organization, is well-positioned to lead this work by applying institutional knowledge of well over a hundred years of experience in the power and energy vertical and through its leadership in establishing best practices, architectures, frameworks, and standards that are critical to the design and development of this global technology.
Blockchain and Healthcare
From supply chain and clinical trial management to securely recording and protecting patient data, the integration of blockchain technologies in healthcare will revolutionize the industry worldwide. Potential benefits include the ability to securely store and share critical data, which is often contained in silos. Blockchain can also give various healthcare providers immediate access to patient records, streamline IT and operational costs, reduce fraud, facilitate telemedicine -- which involves the remote delivery of healthcare services over telecommunications, and ultimately support better health outcomes for patients.
Blockchain for Security & Privacy
Blockchain technologies have shown exceptional value for distributed operations involving individualized control of digital assets, and provide exceptional promise to improve privacy and security. The IEEE Blockchain Initiative will explore the use of blockchains for alignment of common compliance requirements such as the European Union General Data Protection Regulation (GDPR), and best practices from leading industry methods. The primary objective will be to provide privacy and security for individual citizens distributed across the digital world. Blockchains could provide a new paradigm where individualized privacy and security controls will allow every individual creator/owner to maintain control over their data assets.