Emerging Technology and Its Applications Require New Standards
Let’s put aside the question whether Blockchain is a real technology or a passing fad – a hype. The ups and downs of your fortunes in Bitcoin and similar cryptocurrencies in the last couple of years may have clouded your views. Short-term or long-term success, or failure, of cryptocurrencies may depend on the success, or failure, of Blockchain, but it is important to recognize that Blockchain and the Distributed Ledger Technology (DLT) have far greater uses in wide-ranging applications.
One such use of Blockchain is as a key enabling technology of 5G applications. Prof. Chaudhry and Dr. Asad present their research to propose a Blockchain-based Network Slice and Resource Brokerage system to build an open, transparent, and fair 5G ecosystem. They explain the challenges of addressing the massive cooperation required among 5G devices and potential solutions using Blockchain.
Another application of Blockchain is in creating and maintaining decentralized electric grid (Smart Grid). In his article, Dr. Claudio Lima explains the emergence of, and the importance of, DLT Blockchain for the electric utility industry. He uses Open Blockchain Energy (OBE) Architecture Framework, an emerging standard, and associated reference model to classify and categorize application segments in the energy industry and shows that the concept extends well beyond the Smart Grid to the entire energy sector.