The combination of a blockchain data structure and a set of consensus rules allows something magical to happen: stateless, bankless, digital money (aka cryptocurrency). More precisely, what is loosely described as a cryptocurrency is a fungible “token” that is “native” to a blockchain. The major native tokens can be exchanged for the government-backed fiat currencies we are more used to, but smart contracts can create and maintain special-purpose tokens.

Steve Andriole discusses the lack of technology regulatory action by the US government. He opens with the assertion that “the proliferation of misinformation on social media, drones flying in protected airspace, and the exploding personal surveillance of Americans are but three examples of the crying need for regulatory action.” Andriole details 10 technology areas in need of attention, and the associated guidelines, policies, and regulations that would go a long way in keeping technology misuse in check.

Thanks to a slew of current and emerging trends, blockchain is now viewed as a mature and accessible technology. Discover the new blockchain-based innovations — such as the growth of global blockchain consortiums, stablecoins, digital currencies, new service offerings from big tech giants, and decentralized finance (DeFi) platforms — in this Cutter Consortium webinar with Karolina Marzantowicz.

In this Executive Update we summarize our view of the future transportation and logistics market and outline possible paths forward for incumbents. Our analysis is applicable to industries outside the transportation and logistics market as well.

This issue of Cutter Business Technology Journal (CBTJ) continues the conversation we began in our last CBTJ and focuses on blockchain technology adoption beyond cryptocurrencies and financial services. The authors explore areas such as energy and utilities and government and present real examples of successful DLT implementations. They share their practical experiences in overcoming and addressing some of the known issues with blockchain projects.

In this Advisor, we consider the four types of blockchain and explore some financial services where blockchain can be used effectively to enhance customer experience and increase the efficiency of those services.

Claudio Lima explains how blockchain technology can be used to digitize and foster growth in the energy sector. DLT has the potential to optimize energy management processes and to deal with the growing complexity in the decentralized energy system. Lima introduces the IEEE P2418.5 Standard for Blockchain in Energy, which creates an industry framework that will help with interoperability among different blockchain use cases and technologies. A DLT layer complements existing smart grid architectures, improves grid security and efficiency, and reduces the costs of utility operation.

Magesh Kasthuri discusses how city administration can use blockchain. He provides various insights into decentralized architecture, including its technology benefits and security implementation. The article highlights a need for self-healing and auto-scaling services within a smart city architecture, which can be achieved by a blockchain network based on HyperLedger Fabric in a cloud environment. Blockchain can make cities more efficient and more resilient and adds greater transparency and security to a city’s digital processes. Applying DLT technologies in smart cities is an opportunity to reshape many aspects of how cities are organized and managed in order to better serve their citizens.