As a result of growing cybersecurity, Cisco and NEC in Japan have decided to form a collaboration.
This will enable tracking of network equipment produced by Cisco on a permissioned blockchain.
This is an addition to a number of companies who are using blockchain to trace goods and validate authenticity.
Advantages of the tracking
Cybersecurity has evolved to be a major worry for firms in the corporate space.
Cisco and NEC will make use of in-house technologies to make sure that the equipment they receive is original.
This originality is ascertained with the assistance of individual Identities (IDs) and cryptographically hashed signatures.
NEC also has its own proprietary “tamper protection” software to scan for any modifications made to the device after been produced.
This is because at times, a device, such as a security camera, might leave the factory in excellent situation but end up being altered or tweaked before its installation, which is very dangerous.
When a hardware’s manufacturing status is tracked, it helps the quality of such equipment.
Also, Cisco and NEC Corporation’s permission blockchain will allow protection of vulnerable equipment by malicious actors.
Broader adoption of blockchain by other companies
Blockchain is now being embraced by other companies
One of such is Fast-moving consumer goods (FMCG) giant Nestle and the first trillion-dollar business, Amazon.
Blockchain’s adoption by companies will allow stakeholders share firm information over one database.
Ontology, a blockchain project has been evolving their services to cater to companies, but it now left for these companies to decide if they will build their personal blockchains with shareholders or operate a public one.
If historical trends are to proceed in 2020, we will witness a lot more companies setting up distributed ledger’s with those they do business with.