GBA Foundations Course Feedback

GBA Foundations Course Feedback

The GBA is looking to update the Blockchain Foundations Course. Please review it and provide your feedback below.

Non-Fungible Title™ platform

Non-Fungible Title™ platform

Ubitquity, via its Web3 enabled Non-Fungible Title™ (NFT) platform (launching in June 2022), uses blockchain technology hosted on the distributed web via the InterPlanetary File System (IPFS) to deliver a unique consumer experience to owning a title to a home. We work in collaboration with the title industry.

We enhance the title experience using Non-Fungible Records™ (NFR) to bridge the digital and physical worlds. Using these Non-Fungible Records™ allows for unique business capabilities and engaging interactive experiences for enterprises and consumers:

Digital Identity

Every title you create has its own digital identity, creating trust and accountability as it travels globally across borders.

Data Security

Increase security in data for title companies, real estate agents, insurance providers, construction companies, contractors, and all parties in your end-to-end value chain with immutable data which cannot be tampered with or changed.


Access home repairs through your title, maintenance records, your home’s assets like air conditioner and water heater, and more.

Legacy & Modern Integrations

Enterprise organizations have legacy software. Connect with any CRM and ERP system as well as DeFi & Metaverse applications. Build composable experiences utilizing your legacy systems & Web3.

Revenue Share

Enable a revenue share system for secondary market sales of titles where you capture trading fees. Our platform provides programmed revenues to partners for easier accounting.


Trace titles from their origin and through chains of custody, whether that be from the previous owner to the current owner, or the first homeowner to the last.

Powered by Real Items. Non-Fungible Title™ is a trademark of UBITQUITY, LLC. Non-Fungible Records™ is a trademark of Real Items Company.

Monitoring and management of blockchain networks

Monitoring and management of blockchain networks

Since blockchain’s inception in 2008, billions of dollars worth of investment have gone into developing applications and perfecting this disruptive technology. Blockchains’ far-reaching impact and their cutting-edge individualistic characteristics of immutability, transparency and security set them apart from its predeceasing technologies. Counting in the multiple applications of blockchain in various economy-driven sectors and problem-solving, it’s safe to say that it is “the sustainable technology of the future”. However, speaking of sustainment, like every other technology, security remains a concern for blockchain investors. The sudden spurt of crypto-based crimes has accelerated the need to enhance security systems in blockchain networks.


Blockchain vulnerabilities, hackers’ delight: A new wave of cryptocurrency crimes


When Bengaluru (India) police arrested a wanted computer hacker who was guilty of several hacking crimes, they were in for a surprise when he claimed that he, apart from a US-based couple, was involved in the infamous 2015 Bitfinex heist where an astronomical amount of bitcoins were reported stolen. Although his claims of involvement are yet to be proven, this particular incident threw a very pressing and relevant question in the crypto enthusiast’s way worldwide – How safe and reliant is blockchain technology as it claims to be?  

How do blockchains work? 


Blockchain is a programmed database that uses cryptography to store information. It is a decentralized and tangible network made up of multiple interconnected nodes that work in tandem to execute transactions and validate data. A blockchain enthuses trust between untrusting parties through immutability. This means multiple participating nodes verify data using various consensus mechanisms. The verified data-block is then added to the network, which is tamper-proof with a unique cryptographic signature. Thus the validated block becomes immutable due to it being time-stamped and an omnipresent record. Apart from being tamper-resistant, consistency between nodes, the blockchain’s ability to evade DDoS (distributed denial of service) attacks, double-spending attacks, 51% or majority consensus attacks and anonymity factors lend credibility and inherent additional layers of security to the blockchain systems.


Blockchain monitoring and management framework


In a blockchain network, transactions are validated by a group of nodes. As blockchain nodes play a fundamental role in the network, therefore their monitoring is crucial for the blockchain’s health. Hence, a capable framework is required for monitoring and management purposes that enable data assimilation and integration and provide an efficient graphic visualization of blockchain metrics for either one node or an entire network.

Another component that needs extensive monitoring is the DApp layer which comprises the user interface, API (application programming interface), SDK (software development kit) and data storage. Monitoring the DApp layer is crucial as it enables interaction with blockchain nodes.


Why do we need monitoring and managing of blockchains: The vulnerable areas for blockchain attacks


Even with the benign presence of the blockchains mentioned above in place, hackers still manage to find loopholes putting a massive spotlight on the vulnerabilities of distributed ledger networks. Various heists and security breaches into the systems have proven that constant monitoring and managing is not an option – it’s vital for the sustainment of the blockchain networks. In hindsight, there are five main focal points of blockchain attacks.


  1. Attacks on blockchain networks


In a peer organization such as blockchains, nodes play a starring role in the functionalities of the DLT networks. So no wonder they become the number one target of phishing incidents. The types of attacks that fall under this category are as follows.


  • DDoS attacks: Denial-of-service attack is a type of attack that an individual or group carries out to disrupt the services of a host connected to the internet. Through DoS, hackers usually target the application layer of a blockchain and disconnect services such as access to wallets, mining pools, crypto platforms, etc., from users. They do so by overflowing a node with superficial requests keeping users from the intended usage.


  • Transaction-based or double-spending attacks: The hackers try to change transaction IDs by changing the hash and broadcasting the altered ID to the network, and getting it validated through consensus. If they succeed, they have basically tricked the sender into believing the transaction has failed even though the funds have been debited during the original verification. So the sender again sends the funds straight to the hacker’s account.


  • 51% attack: Also known as majority consensus, a hack can occur if a hacker somehow is able to access and control 51% aka the majority of the network’s mining hash rate and create a hard fork rate, as it happened in the case of classic Ethereum when it got subjected to consensus attack in 2020.


  • Timejacking attack: In this type of attack, hackers reroute nodes to an alternative blockchain by changing the time counter of the node on a particular network


  • Crypto wallets attacks

By finding vulnerabilities in cryptographic algorithms, hackers try to attack both cold and hot wallets by either attempting phishing, which is the most common form of attack or initiating dictionary attacks by breaking a cryptographic hash.



  • Smart contracts attacks

Hackers try to alienate weak sports in the source code in a smart contract. For instance, Ethereum smart contracts running on solidity code are prone to reentrancy attacks. Additionally, EVM vulnerabilities such as immutable codes of smart contracts, which, if leveraged, can lead to a fork or crypto theft. The famous DAO attack happened when a hacker found a defect in the smart code and stole $3.6 million worth of Ether. Missed modifier bugs and short address/parameter attacks are hacks that target faulty codes to gain access to the functionalities of smart contracts.



  • Mining pool attacks

Often miners, especially in the case of bitcoin miners, put their resources together to create jointly-owned mining pools for increased awards. However, miners with nefarious intent advertently exploit and manipulate consensus mechanisms to increase their profit share by resorting to activities like selfish mining and block withholding.



  • Sybil and Routing attacks:

Sybil attack is when an individual controls two or more points or nodes in a network. Through Routing attacks, hackers create some sort of fork within a network forcing the creation of a parallel blockchain. In such a case, nodes within one fork or component are unable to communicate with the other node within another fork. This way, hackers create delays in block delivery.


The hacks, as mentioned above, can disrupt the security of blockchain networks causing massive monetary losses to the investors. Therefore constant and rigorous vigilance of blockchains by analysis software companies must be their priority. The following are the core monitoring principles that all blockchain companies should implement.

  • Constant vigilance: Look out for suspicious activities following certain out-of-place events that may or not be hostile. Instances such as failed login attempts, rise in transaction failure, unforeseen spikes or dips in transaction volume, transactions time-stamped outside of business hours, and increased unauthorized users warrant thorough investigation.


  • Building multi-layer security systems: Although blockchains at heart are trustworthy institutions, nothing is impenetrable in the internet world. Given the sheer size of the network and volume of transactions, blockchain security providers must look to develop security systems that are capable of issuing real-time security alerts when detecting anomalies in the network to save time and effort in pinpointing loopholes in systems.


  • Develop auditable records of data: To better understand information on blockchain for auditing purposes, it is feasible to use tools that collect viable data cost-efficiently and in a timely manner.
  • A visual representation of blockchain data: In order to monitor blockchain activities effectively, it makes sense to have a visual or graphical depiction to get a concise analysis of blockchain data.
  • A visual representation of blockchain data: In order to monitor blockchain activities effectively, it makes sense to have a visual or graphical depiction to get a concise analysis of blockchain data.


  • Blockchain third-party dashboards: Whether you seek real-time data reports, monitor node’s health, access and track transactions or validate transaction’s sanctity, development and access to such dashboards can considerably help with blockchain management.


Countering crypto attacks with blockchain analysis tools


Investors lost around $14 billion worth of crypto assets to various thefts, frauds, and scams in 2021. With wide-ranging possibilities of cyber-attacks on blockchain systems monitoring blockchains has become the priority to retain investors’ trust. Therefore, there is a need for blockchain analysis tools which are exclusive software that monitors, manages and analyses and provides a visual representation of blockchain applications while keeping a check on all its activities to fish out unlawful ones.


What is blockchain analysis?


Blockchain analysis is a process that analyzes and monitors blockchain elements such as blockchain addresses and transactions to track behavioral patterns of various network participants. It is imperative for blockchain-dependent organizations to use blockchain analytics software to maintain compliance and avoid any vulnerability to illegal actors. These softwares are the need of the hour as they help tackle crypto-based crimes, manage associated risks, and implement regulatory compliance. Their most popular applications are Anti-money Laundering (AML) and Know-Your-Customer (KYC), with a core use case of transaction tracking back to the point of origins while underpinning fraudulent ones.

Blockchain analysis software comprises of following functionalities:


  • Address classification: The most commonly used tool connects physical-world identities to the blockchain address. These softwares are also the most indispensable tools to make sense of identity analysis. They are the phase one of the blockchain analysis


  • Transaction tracking and risk assessment tools: Next in line are the tools that keep track of all institutional transactions and access risks based on the fund’s inception, movement and senders/receiver’s history while duly assigning a risk score to every transaction


  • Investigation compliance tools: The third phase requires investigation software that provides visualization tools for the manual investigation of blockchain addresses and transactions. At this point, graph visualization has a vital role in investigating compliance with transaction representation


How do these analysis tools monitor blockchains?


There are various techniques and tactics to understand the nature of the threat and nip it at its bud.

  • Web Scraping to analyze data from crypto market sources and track changes in prices and safehold extracted data so one can promptly react when prices reach the brink
  • Clustering algorithms to identify blockchain entities
  • Scam database monitoring
  • Dust attacks (a hack in which scammers send a minuscule amount of tokens to targeted accounts and access transactional activity of that particular wallet. After a dedicated analysis, hackers try to deanonymize the wallets owner’s identity)


Why is blockchain analysis software required, and what are their use cases


Companies use Regulatory Technology, commonly known as RegTech, to adhere to the set regulatory norms and blockchain analysis tools help achieve those. The idea is that these tools help mitigate risks and ensure that the blockchain networks comply with regulatory norms.

The following are the most popular use cases of analysis tools.


  • Compliance: Blockchain service providers avail analysis software services providing risk minimisation and monitoring tools to ensure AML/CFT compliance. These tools aim to keep fraudsters from using blockchain-based services. The software helps companies keep up with the regulatory terms and standards as per their jurisdictions. These tools track every transaction and access risks associated with it, thus curtailing fraudulent activities.


  • Investigations and surveillance: Blockchain analysis solutions have a key role in investigations of crypto-based crimes. However, a lot depends on how meticulously KYC has been implemented by any blockchain service provider, which would further help identify scammers. Additionally, a robust visualization tool can help with manual surveillance by using various clustering solutions.


  • Money tracking: There is an ocean of money flowing through blockchain platforms, and tracking every movement is not an easy task. Money tracking software helps segregate genuine transactions from false ones and enforce risk assessment.


To conclude


The crypto crime ratio is in direct proportion to the growth of blockchain platforms. Therefore it is vital to monitor and manage blockchains with the help of blockchain analysis software. There is an unprecedented demand for this technology, which has skyrocketed over recent years. And who better than Zeeve, a leading name in blockchain development and management to provide optimum tools to protect businesses’ interests. Our advanced integrated system is especially designed to keep criminals out of systems while safeguarding the assets of genuine users. Additionally, analytics tools also help government authorities nab crypto fraudsters, as we have seen in the case of Bifinex theft and many other such cases.

Ethereum Virtual Machine – All that you need to know about it.

Ethereum Virtual Machine – All that you need to know about it.

The evolution of decentralized distributed ledger technology may be attributed to bitcoin, but in all honesty, Ethereum became the true harbinger of the said revolution. When bitcoin at its core still remains a distributed ledger, a platform to generate its native currency (BTC), Ethereum broke the norm by going beyond the expected capabilities. Simply put, Ethereum is a distributed state machine.

The innovative programmable Ethereum blockchain is not just a platform to create ETH; it allows users to perform a myriad of functions like creating decentralized applications and generating smart contracts. All the said functionalities are made possible with the help of EVM, otherwise known as Ethereum Virtual Machine.

Often termed the “backbone of the Ethereum network,” EVM is a runtime environment where all Ethereum accounts and smart contracts reside. It allows the generation of smart contracts with the help of a programming language called Solidity. Smart contracts are generated for the development of programs using Dapps. All this is possible with Ethereum virtual machines.

EVM has been long pitched as a program for beginners as operating it requires a basic understanding and knowledge of terms such as bytes, memory, stack, and blockchain concepts such as Merkel tree, hash functions, and proof of work.


Elements that make EVM 


However, to understand the basics and workings of EVM, one needs an in-depth knowledge of the elements that make up an Ethereum virtual machine.


The concept of Virtual machines and their components: Virtual machines, Smart Contracts, Machine State, Solidity, Opcodes, and Gas 


Virtual machines are virtual codes that are used to execute programs and deploy applications. Just like any tangible physical computer, they have all the relevant components such as CPU, memory, and storage and can be connected to the internet. Working on top of multiple operating systems, they work on higher abstractions. As we know, Ethereum enables the creation of smart contracts, which is a more powerful protocol that enables transactions. Another noteworthy factor is that EVM is completely siloed and has no access to any files on the network or processes. Now, every participating node on the Ethereum network runs EVM to maintain the consensus.


Smart contracts are pre-written lines of codes that execute transactions sans any intermediary. Smart Contracts over the Ethereum ecosystem are written in Solidity code, which cannot be altered or changed, making them a secure way of conducting transactions. Whenever a contract is executed, EVM’s state is modified.

EVM is also referred to as a “state machine” as it gives a picture of the current state. With every new block added, abetted by the constant new transactions, EVM works as a virtual central processing unit that executes and displays the speed of the execution process. Simply put, EVM in the Ethereum ecosystem determines the rules for computing transactions and changing the current state of the block and network. Also, EVM on its own doesn’t possess the ability to process Solidity; therefore, smart contract bytecode is consolidated to machine-level instructions called Opcodes that further execute certain stack operations. At an estimate, there are approximately 141 opcodes in EVM.


To run the opcodes on EVM, a certain amount of Gas is required. Gas is the transaction fee for processing the smart contract’s operations performed by nodes on the Ethereum network. The purpose of applying a gas fee is, firstly, to compensate miners for their services. Secondly, to gaslight any attempt by a hacker to stop computing actions or slow down the network’s speed by spamming the network with unwarranted transactions. And finally, to avoid any computational wastage of codes or accidental infinite loops. It is pertinent to set up a limit of computational codes for each transaction to bypass such issues. Each opcode has a gas cost attached to it, depending upon the complexity of the opcode. More complexity, the higher the gas fee.


Gas limit is the amount of fee a user is able or willing to pay for the processing and validating of a transaction. Moreover, Gas that is not used in a transaction is returned to the user, which is definitely an upside in the system.


The London Upgrade was introduced on 5th August 2021 to transform the transaction fee mechanism on Ethereum. The benefits of the upgrade included superior gas estimation, speedier transactions, and balancing ETH issuance by burning a certain percentage of the transaction fee.

Account abstraction on Ethereum 


There are two types of accounts atop Ethereum – External accounts and Contract accounts. The basic difference between the two is that external account owners hold private keys to be able to execute transactions using ETH, and they are outside the gambit of EVM. In comparison, contract accounts are smart contracts living in EVM. Now both the accounts have equal status under EVM. Account abstraction means treating both accounts as one account- a contract account. The idea is that the transaction process will completely transfer to EVM and no longer be on the blockchain environment. Account abstraction is a feature that would be implemented in Ethereum 2.0


What is Turing completeness in Ethereum?


Turing completeness as a concept means a machine’s ability to process data. A set of instructions or a programming language is said to be Turing complete, given its ability to stimulate a Turing or an abstract machine. According to the Ethereum yellow paper, EVM is defined as “Quasi-Turing” complete.

It is assumed that EVM can complete any given, even the most complicated computations, which is the key feature of being Turing-complete. However, it’s virtually impossible to predict if a particular transaction will be completed. Therefore EVM has a terminating mechanism in place. Also, gas or transaction fee is extracted for executing smart contracts. So EVM has the ability to abort a transaction when the Gas runs out, making it quasi-Turing complete.


Benefits of Ethereum virtual machines


  • EVM facilitates decentralised applications’ creation, allowing any user to develop them without discrimination.
  • EVM facilitates creating ERC- 721 tokens and developing smart contracts to create NFTs or non-fungible tokens. Anyone can create these virtual assets and sell them on NFT marketplaces, a concept that was unheard of a few years ago.


Challenges of Ethereum virtual machines


  • EVM isn’t completely decentralized, as assumed by many. With the rise of BaaS services, many Ethereum nodes are being hosted via third-party cloud-based servers, which are more centralized than decentralized. Assuming that the service provider shuts their server down will effectively bring down the nodes. Such an event can cause a lot of damage to the network.
  • For all intent and purposes, EVM does require certain technical knowledge and familiarity with programming languages
  • The biggest drawback for Ethereum users is the preposterously high transaction fee, especially when network traffic is high. The larger transactions may not suffer much, but smaller ones become the victim of congestion. Such network chokes can adversely affect dApps development. Too many users using smart contracts and thereby executing corresponding transactions can considerably slow the network down, even bringing it to a halt.


Launch your Ethereum Nodes With Zeeve 


Zeeve is an enterprise-grade Blockchain Infrastructure Automation Platform and it has created a unique and innovative way to provide enterprise-grade performance, reliability, and security with your ethereum as a preferred blockchain node. It helps companies and entrepreneurs build, launch and manage their decentralized apps. This BaaS solution was designed to work with any network technology including Ethereum so it can be cloud agnostic too!

Zeeve provides comprehensive APIs for constructing all types of usages – from smart contracts through front end user interfaces (UX). With these building blocks at hand; you’re certain not only have the right tools but also know how they interact together seamlessly in one system. In addition it offers a No Code highly automated platform as well as a team of experts that can be reached 24/7 should you need any custom configurations or integrations for the best user experience possible.


Final thoughts


Ethereum virtual machines, in a way, have helped create a parallel economy by making Ethereum move beyond the distributed ledger state. Undoubtedly, many benefits of EVM are countered by challenges, making it less than a perfect system. However, with Ethereum 2.0 in the offing, EVM mechanisms relating to transactions speed, high Gas, or complexity of the transactions are expected to go under a massive upscaling.

BSEG2022 Event Team

The GBA wants to thank and express our deepest appreciation to the following individuals who made this event possible.

GBA Board of Directors

  • Mr. Bryant Nielson, Chairman
  • Dr. Ingrid Vasiliu-Feltes
  • Dr. Sindhu Bhaskar
  • Mr. Earle Hall
  • Mr. Gerard Dache
  • Mr. Sean Kurzweil
  • Mr. Thomas Goldstein

GBA Event Team

  • Event Director – Kathy Dache
  • Art/NFT Show
    • Moon
    • Silvio Pupo
    • Eugene Morozov
    • Ethan Rabinowitz
    • Chris Sloane
    • Anja Blaj
    • Sarah Paull
    • Enrique Aznar
  • Audio/Visual Team
    • Jordan Dache
    • Evan Smith
  • Event Security – Eldridge Hawkins
  • Government VIP Reception Team
    • Amelia Powers
    • Bill Rockwood
    • Diane Nielson
    • Gabriella Kusz
    • Bryant Nielson
  • Guest Services – Kyle McTague
  • Marketing & Sales
    • Alejandro Fuentes
    • Bob Miko
    • Istiaque Doza
    • Jamie Redd
    • JC Luna
    • Rigo Gutiérrez
  • Print Productions- Scott Thompson
  • Program Directors
    • Robert Perry
    • Priya Guliani
  • Online Event Coordinator – Matt Fok
  • Sponsor Liaison – Jovan Marjanovic
  • Volunteer Coordinator
    • Niki Weiss
    • Tobin Gardner
  • Volunteers
    • Allison Maffitt
    • Bill Elder
    • Dr. Ann Ingraham
    • Jaqueline Pereira Santos
    • Jim. Sullivan
    • Marquis Allen
    • Nabeel Malik
    • Javon Swint

Healthcare Working Group Current Events – Connect With Us at the Blockchain & Sustainable Economic Growth Conference, May 25th – 27th in Washington DC

I gotta say, the last couple weeks of May have always been an invigorating time for me.

Personally, it signals the beginning of summer and all of the warm weather I’ve been craving since October. We get to trade overcoats for T-shirts, and long pants for shorts, and I start living by the adage, “Sun’s Out Guns Out”.

This year however has fostered a different kind of excitement. The GBA’s second conference of 2022, themed around Blockchain and Sustainable Economic Growth, happens during the last week before Memorial Day and will be a great opportunity to connect with members of the Healthcare Working Group.

Several members of the GBA HWG will be presenters and keynote speakers during the event (including Dr. Ann Ingraham from Exponential Health Tech Advisors, Maria Esquela from Enable Alliance, and Pradeep Goel from Solve.Care) sharing their perspectives and experiences with blockchain adoption in the healthcare space.

I’ll be in attendance as well, promoting some of the cool projects the HWG is working on now, and soliciting feedback from anyone who wants to vibe with me about the Blockchain Ethical Design Framework for Healthcare White Paper, the future of healthcare and blockchain technology, data privacy and ownership, or the fact that summertime is finally here and we get to be around each other without a sneeze guard. For the most part.

If you’re in attendance at the conference at the Mayflower Hotel in Washington DC, May 25th through the 27th, please come say hi!

Hope to see you there…


How to build a Blockchain PoC Application using Hyperledger Fabric

How to build a Blockchain PoC Application using Hyperledger Fabric

Hyperledger is quickly becoming one of the most popular blockchain frameworks for large and medium-sized businesses. Its flexibility and strength, though, make it difficult to comprehend.

Before we dive into the blockchain frameworks, let’s understand what blockchain technology is.


What is Blockchain?


The blockchain is a distributed ledger technology that keeps track of all network updates and transactions. This ledger is distributed and stored not on a single isolated server, but on all of the systems that make up the system, and is stored not on a single isolated server, but all of the systems make up the system, which is known as nodes.

Smart contracts (often referred to as chain codes in Fabric) are software modules that manage access to the distributed ledger, automate procedures, control parts of transactions, and perform specified actions when predetermined circumstances are satisfied in the blockchain network.

Any changes or transactions that occur in the network will be accepted or rejected. The transaction is entered into the ledger once it has been confirmed. Data or transactions that are written to the registry over the network are encrypted, stored in blocks, and then immutable.


What is Hyperledger Fabric?


Hyperledger Fabric is a private, permissioned, open-source blockchain technology hosted by the Linux Foundation. The blockchain network is private, which means it is not open to the public and may only be joined by those who have been invited. Each party has been recognized, and every transaction has been validated, approved, verified, and tracked.

Fabric Networks can be run on-premises, or you can use blockchain as a service platform for your registry architecture.

Once numerous parties have established a network, sensitive data can be exchanged between them. If a blockchain network does not interact with numerous parties, Hyperledger Fabric blockchain solutions are ineffective.

The Fabric blockchain network’s goal is to establish trust between two or more parties, companies, or organizational units. As part of the Fabric architecture, it prioritizes a few essential qualities.


  • Privacy


Every computer on the network must be identified by Fabric. A Membership Service Provider is used to sign up and identify potential members of a fabric-enabled network (MSP).

Permission membership is the term used to describe this form of membership. Many industries value data privacy, and Fabric’s appeal stems solely from this feature. For any component of the blockchain, Fabric does not require authorization. The network designer decides whether or not permission is required.


  • Channels


The framework allows network participants to generate different sets of operations that are not accessible to bigger networks by partitioning the ledger into “channels.” This separates more sensitive information from non-accessible locations.


  • Scalability


Fabric’s extremely scalable networking is another aspect that makes it appealing to huge companies. As with any other implementation, you can quickly scale the number of nodes in the network.

On the other hand, the system can handle vast amounts of data with fewer resources. As a result, you get the best of both worlds. A blockchain can be constructed with a limited number of nodes and grown to meet the needs of the network.


  • Modularity


Individual modules can be added and implemented at various times thanks to the fabric architecture. Many components are optional, and they can be left out or added later without affecting operation.

This feature is intended to assist businesses in determining what they require and what they do not. How consensus is built, membership services for identities, proper ledger storage, specialized access APIs, and integration of connecting code are all examples of modular or “plug and play” components.


How does Hyperledger Fabric work?


Traditional blockchain networks are unable to accommodate the enterprise’s most sensitive private transactions and confidentiality agreements. Hyperledger Fabric was created in response as a flexible, scalable, and secure platform for delivering industrial blockchain solutions.

A blockchain network primarily consists of a set of peers and is considered to be a fundamental element of the network as they host ledgers and smart contracts. The ledger acts as a database and it is immutable which keeps track of all the transactions in the network. Both smart contracts and ledgers are used in a concise form to combine the shared processes and shared information in a network.

Before going ahead with transactions between the businesses, they must define a set of contracts covering common terms, rules, data, concept definitions, and processes. Then, these contracts lay out the business models that control all the interactions between the businesses. So, Smart Contract defines the set of rules between the businesses and common terms and conditions in executable code. Using blockchain network, these rules are been converted to executable programs known as Smart Contracts to open a wide variety of new applications to the blockchain.

Hyperledger Fabric is an open-source blockchain engine that covers the most crucial characteristics for analyzing and deploying blockchain in commercial applications.

A participant’s verifiable ID is a prerequisite within a private industrial network. Qualification-based membership is supported by Hyperledger Fabric. Every network participant must have a unique identifier.

Many industries, such as healthcare and banking, are governed by data-protection laws that require data to be maintained for various participants and access to various data points. Fabric is in favor of membership that is based on qualifications.


How Can You Create Applications Using Hyperledger Fabric?


If you haven’t already started, make sure you have all of the prerequisites listed below installed on the platform(s) on which you’ll be developing blockchain applications and/or running Hyperledger Fabric.

  1.       Prerequisites:
  •         Install Curl:

Go ahead and download the latest version of the Curl tool if it is not already installed or if you get errors running the curl commands.

  •         Docker and Docker Compose:

Install the following on the platform on which you will be operating or developing the Hyperledger Fabric:

  1.   MacOSX, *nix, or Windows 10: Docker Docker version 17.06.2-ce or greater is required.
  2.   Older versions of Windows: Docker Toolbox – again, Docker version Docker 17.06.2-ce or greater is required.
  •         Go Programming Language:

Hyperledger Fabric uses the Go programming language for its components.

  1.   Go version 1.12.x is required.
  •         Node.js Runtime and NPM:

Download and install Node.js, version 10 is supported from 10.15.3 and higher.

  1.   Node.js download

Installing Node.js will also install NPM, however, it is recommended that you confirm the version of NPM installed.

Once the prerequisites are been downloaded, we are now ready to download and install the Hyperledger Fabric.

  1.       Hyperledger Fabric smart contract (chaincode) SDKs:

Hyperledger Fabric provides several SDKs to help programmers create smart contracts (chaincode) in a variety of languages. For Go, Node.js, and Java, there are three smart contract SDKs:

  1.   SDK for Go and documentation for Go.
  2.   Node.js SDK docs and Node.js SDK.
  3.   Java SDK documentation and Java SDK.

Node.js and Java currently support the new Hyperledger Fabric v1.4 smart contract development style. Support for Go will be included in a future release.


Our first Application using Hyperledger Fabric:


Let us start with our first application using Hyperledger Fabric, and learn how to write an application, smart contract to query and update a ledger and use Certificate Authority to generate the X.509 certificates which interact with permission blockchain.

  1.   Set a Blockchain Network:

Firstly, this part requires you to be in your subdirectory within the local clone of the repository. If you have any existing networks, you do require them to stop.

./ down

Now, you are good to launch your network.

  1.   Launch the network:

Use the shell script to get your network up and running. This command creates a blockchain network including certificate authorities, peers, orderers, and other components.

./ javascript

  1.   Install Application:

Run the below command to install all the dependencies of the Application.

npm install

All the key application dependencies are included which are defined in package.json. Also, the fabric-network class is of utmost importance; it enables an application to use wallets, identities, and gateway to connect channels, submit transactions and wait for notifications.

  1.   Enrolling the admin user:

Following that, we’ll create and enroll an Admin user, who will be used by our app to interact with the blockchain.

node enrollAdmin.js

This command has stored the CA administrator’s credentials in the wallet directory.

  1.   Register and Enroll:

We may enroll a new user who will be used to query and update the ledger now that we have the administrator’s credentials in a wallet:

node registerUser.js

  1.   Querying the ledger:

A blockchain network’s peer hosts a copy of the ledger, and application software can query it by running a smart contract that requests the ledger’s most current value and provides it to the application.

Let’s start by running our query.js which returns a list of all the cars on the ledger using an application. To access the ledger, this application utilizes our second identity:

The query.js returns all the data stored in the ledger, in our example, we have car data stored in our ledger.

node query.js

The output should look like this:

Wallet path: fabricsamples/fabcar/javascript/wallet

Transaction has been evaluated, result is:

[{“Key”:”CAR0″, “Record”:{“colour”:”blue”,”make”:”Toyota”,”model”:”Prius”,”owner”:”Tomoko”}},

{“Key”:”CAR1″, “Record”:{“colour”:”red”,”make”:”Ford”,”model”:”Mustang”,”owner”:”Brad”}},

{“Key”:”CAR2″, “Record”:{“colour”:”green”,”make”:”Hyundai”,”model”:”Tucson”,”owner”:”Jin Soo”}},

{“Key”:”CAR3″, “Record”:{“colour”:”yellow”,”make”:”Volkswagen”,”model”:”Passat”,”owner”:”Max”}},

{“Key”:”CAR4″, “Record”:{“colour”:”black”,”make”:”Tesla”,”model”:”S”,”owner”:”Adriana”}},

{“Key”:”CAR5″, “Record”:{“colour”:”purple”,”make”:”Peugeot”,”model”:”205″,”owner”:”Michel”}},

{“Key”:”CAR6″, “Record”:{“colour”:”white”,”make”:”Chery”,”model”:”S22L”,”owner”:”Aarav”}},

{“Key”:”CAR7″, “Record”:{“colour”:”violet”,”make”:”Fiat”,”model”:”Punto”,”owner”:”Pari”}},

{“Key”:”CAR8″, “Record”:{“colour”:”indigo”,”make”:”Tata”,”model”:”Nano”,”owner”:”Valeria”}},

{“Key”:”CAR9″, “Record”:{“colour”:”brown”,”make”:”Holden”,”model”:”Barina”,”owner”:”Shotaro”}}]

The application begins by bringing two key fabric-network module classes, FileSystemWallet and Gateway, into scope. These classes will be used to find the users identity in the wallet and connect to the network using it:

const { FileSystemWallet, Gateway } = require(‘fabric-network’);

Next, we connect the application to the network using a gateway:

const gateway = new Gateway();

await gateway.connect(ccp, { wallet, identity: ‘user1’ });

This code helps us to create a new gateway and then uses it to connect the application to the network.

const ccpPath = path.resolve(__dirname, ‘..’, ‘..’, ‘first-network’, ‘connection-org1.json’);

const ccpJSON = fs.readFileSync(ccpPath, ‘utf8’);

const ccp = JSON.parse(ccpJSON);

Then the network is been divided into multiple channels, using the below commands:

Here, we access the smart contract that is fabcar, to interact with the ledger.

const contract = network.getContract(‘fabcar’);

There are many distinct transactions in fabcar, and our application uses the queryAllCars transaction to get the ledger world state data at first:

const result = await contract.evaluateTransaction(‘queryAllCars’);

  1.       The FabCar smart contract:

Once the channel is been created, we now need to link with the smart contract.

async queryAllCars(ctx) {

const startKey = ‘CAR0’;

const endKey = ‘CAR999’;

const iterator = await ctx.stub.getStateByRange(startKey, endKey);

You should see the following output:

Wallet path: fabricsamples/fabcar/javascript/wallet

Transaction has been evaluated, result is:


Now, it’s time to update the ledger.

  1.   Updating the ledger:

Now navigate to the code block where we construct our transaction and run the below command and submit it to the network:

await contract.submitTransaction(‘createCar’, ‘CAR12’, ‘Honda’, ‘Accord’, ‘Black’, ‘Tom’);

Save it and run the program:

node invoke.js

If the invoke is successful, you will see output like this:

Wallet path: fabricsamples/fabcar/javascript/wallet

20181211T14:11:40.935Z info: [TransactionEventHandler]: _strategySuccess: strategy success for transaction “9076cd4279a71ecf99665aed0ed3590a25bba040fa6b4dd6d010f42bb26ff5d1”

The transaction has been submitted

Congratulations, you have successfully created your first application.


What to look for when looking for a developer company:


After you have known the detailed requirements that you want to develop, try searching for a team that has experience in the type of work that you need to develop. And with the help of this team, you can create and test the quality, functionality, and utility of the developed software products.

And this will give you full control of the development of the project; however, you’ll need to find coding resources and a programmer workspace. Another best option could be to hire experts in building blockchain applications who are readily available for your remote job which will save your time as well as money.


Zeeve for building blockchain applications using Hyperledger Fabric:


Zeeve can be used to build, install, and manage nodes for businesses and startups. Zeeve is a Blockchain as a Service (BaaS) platform that helps companies and entrepreneurs build, launch, and manage secure decentralized apps. It was designed to be cloud-agnostic, letting its interface with other networks that employ different technologies, such as Ethereum. Zeeve is a Blockchain as a Service (BaaS) platform that assists enterprises and startups in developing, launching, and managing secure decentralized applications. Furthermore, Zeeves provides comprehensive APIs for constructing a range of use cases across sectors, ranging from banking and financial services to retail shops! —allowing anybody to participate! Zeeve allows businesses to benefit from the security, transparency, and efficiency of blockchain technology without having to manage the infrastructure themselves.

GBA Banking and Finance Group

The GBA Banking and Finance working group has undertaken two critical tasks for the GBA.

  • Firstly, following the successful publication and reception of the GBA Blockchain Maturity Model (BMM), the Banking and Finance Group, in concert with other working groups, will be developing the BMM Supplement, which will outline the distinct requirements against which blockchain solutions within the financial services can be additionally assessed. Topics will include:
    • Capital Markets Debt and Equity – Primary and Secondary Markets (Exchanges and OTC)

    • Central Banking, Fractional Reserve Accounting, Commercial Lending, National Banks

    • Credit & Debit Cards

    • Exchange-Traded Derivatives

    • Institutional Banking (Treasury Services, FX, Commercial Lending & Trade Services)

    • OTC Derivatives

    • Pension Funds, Insurance Companies, and Foundations

    • Retail Banking (Accounts, Payments, Personal Lending)

    • Structured Products

  • Secondly, the group is developing a GBA Consulting Handbook describing the various sectors of the banking, financial, and capital markets industry, with the goal of providing training for those sectors and outlining the potential for blockchain solutions.

If you are interested in contributing or want to listen in for educational purposes, please log into the GBA website and join the Banking and Working Group. All of the call details are listed for the calls every Wednesday.

Circular & Regenerative Economies

Circular & Regenerative Economies

“There is no waste in nature. When a leaf falls from a tree, it feeds the forest. For billions of years, natural systems have regenerated themselves. Waste is a human invention.”

The Ellen MacArthur Foundation. [1]

For years, the ‘take-make-waste’ linear economy has been heavily extractive, resource-intensive, and produces greenhouse gases (GHGs) contributing to the climate crisis. Companies extract materials from the earth, apply energy and labour to manufacture a product, and sell it to an end-user, who then discards it when it no longer serves its purpose. This linear approach relies on fossil fuels and does not environmentally manage resources such as land, water, and minerals for the long-term, emits GHGs that are causing a global climate crisis.”

Solution: The Circular & Regenerative Economy

Circular systems operate as closed loops and enable the continuous use and reuse of resources. The use of raw materials and energy from non-renewable sources is minimized and eliminated. Hence, a circular economy decouples economic growth from resource consumption. [3]

According to The Ellen MacArthur Foundation, the circular economy is based on three pillars: [4] [5]

  1. Design out waste and pollution: What if waste and pollution were not created in the first place?

All negative impacts of economic activities that harm human health and natural systems, such as greenhouse gas emissions, the release of hazardous substances, and the air, soil and water pollution, are detected and eliminated in a circular economy. [5]

  1. Keep products and materials in use: What if we could build an economy that extends the life cycle of products?

A circular economy emphasizes solutions that preserve value. Thus, when a product reaches the end of its life, its materials are kept in the economy whenever possible. These materials are then used productively, again and again, creating added value. [7] This also means eco-design for durability, reuse, remanufacture and recycling to keep products, components and materials in the economic cycle.

Circular systems effectively use biobased materials by promoting many different uses circulating between the economy and natural systems. [4] [5] The circular economy involves sharing, leasing, reusing, repairing, refurbishing, and recycling existing materials and products for as long as possible. One example is the reuse of waste as valuable raw materials in production processes. [7]

  1. Regenerate natural systems: What if we could protect the environment and improve it?

The circular economy is designed from the outset to restore and regenerate. It avoids using non-renewable resources and preserves or enhances renewable resources, for example, by returning valuable nutrients to the soil, promoting regeneration or by using renewable energy instead of relying on fossil fuels.

From a “take-produce-consume-dispose” pattern to a restorative and regenerative economy

The circular economy supports natural processes and leaves more room for nature to thrive. [1] The Ellen MacArthur Foundation has developed the “butterfly diagram” that aims to get to the essence of the circular economy.

By turning our economy from a linear to a circular economy, the focus shifts from extraction to regenerating natural systems. Instead of continually destroying nature, we build natural capital. We adopt agricultural practices that allow nature to rebuild soils, increase biodiversity, and return biological materials to the earth. Most of these materials are lost after use, and croplands are depleted of nutrients. [1]

To find a balance within the earth’s bio capacity, the Regenerative Economy is an economic system designed to regenerate its resources rather than deplete and consume them. [8] 5 principles guide it: [9]

  1. Resource use must be as minimal as possible. Everything must be recoverable and valued.
  2. Independence of material extraction is a tendency in the Regenerative Economy.
  3. A regenerative economy is a local economy that promotes interaction between actors. This interaction improves an area’s resilience and ability to respond to shocks because the more dynamic an area is with local supply and valuation solutions, the more expertise is available.
  4. A regenerative economy leads to cooperation rather than competition. Collaboration among actors fosters a horizontal collective intelligence where everyone is considered at their actual value. This dynamic enables better dissemination of information, and horizontal collective intelligence provides better adaptation to a complex and unstable environment.
  5. The regenerative economy aims to promote life instead of destroying it through developing products or services that sequester carbon, regenerate soils and biodiversity, and improve air and water quality.

The Regenerative Economy also draws inspiration from nature-based solutions from living ecosystems. Restoring living soils in massive regeneration would reduce our emissions globally, sequester carbon, regenerate biodiversity, and improve yields. [9] Still, more than 100 billion tons of materials enter the world economy each year in our global economy, and only 8.6% is circular. [10] But why, when there are clear opportunities?


Why should we strive for a Circular & Regenerative Economy?


The circular economy focuses on improving sustainability and social responsibility in addition to economic growth. [11] It has many environmental and system-wide benefits. The World Resources Institute (WRI) has outlined five opportunities of a circular economy: [12]

  1. Better use of finite resources.

Better use of natural resources such as air, forests, soil, metals, minerals, and water is essential to the circular economy [12]. In the last fifty years, global material consumption has tripled, from 26.7 billion tons in 1970 to 92.0 billion tons in 2017, and that’s not all: the International Resource Panel (IRP) predicts that material consumption will reach 170 to 184 billion tons by 2050, doubling in three decades. [10] Interestingly, natural resource extraction and processing are responsible for more than 90 per cent of global biodiversity loss and water stress impacts, as well as about half of global greenhouse gas emissions. [13]

  1. Reduce emissions.

Although the discourse to address the climate crisis has been focusing on the shift to renewable energy, there has not been much discussion on the 45% of greenhouse gas emissions that occur in the production of cars, clothing, food and other products. [14] To meet climate goals, we also need to focus on GHG emissions. The Ellen MacArthur Foundation paper indicates that applying circular economy strategies could help reduce emissions by at least 40% by 2050, bringing emissions from these sectors 45% closer to their net zero emissions targets. [14]

  1. Protect human health and biodiversity.

Electronic waste (e-waste) is mismanaged and either end up in the natural environment or is disposed of through open burning, landfills, or low-quality recycling. Appropriate use of natural resources (e.g., protecting soil and water) and better handling of products at the end of their life are necessary. Designing products that can be used longer will reduce this kind of waste. Furthermore, creating appropriate collection and processing systems protects workers and the environment from hazardous materials.

  1. Boost economies.

Circular economy business models could minimize material inputs into and outflows from the economic system and play an essential role in leveraging private sector resources and capabilities to transition to a more sustainable economic development. [15] Accenture Strategy’s research presented in the Waste to Wealth book indicates that the circular economy could generate an additional $4.5 trillion in economic output by 2030. [16] Circular economy business models that take a different approach will help decouple economic growth and natural resource consumption while increasing competitiveness.

  1. Create more and better jobs.

Six million jobs, viz., recycling, repair, rental, and re-manufacturing, can be created by shifting to a circular economy, substituting the traditional “extract, make, use, and dispose of” economic model. [17]

Therefore, the circular economy contributes to achieving global climate goals. [5] Businesses would benefit significantly by aligning their operations with the circular economy principles. These benefits include creating new profit opportunities, lower costs due to a reduced need for new materials, and closer relationships with customers. [5] The transition to a circular economy could bring benefits such as reducing environmental impact, improving the security of raw material supply chains, increasing competitiveness, promoting innovation, spurring economic growth, and creating jobs.


Achieving a Circular & Regenerative Economy


Transitioning from a linear to a circular economy requires systemic solutions. Business models, product and service design, legislation, accounting practices, urban planning, agricultural practices, material extraction, manufacturing, and more currently have undesirable characteristics from a circular perspective. However, we cannot change just one element of the existing system and expect the necessary transformation. Instead, we should learn to understand how complex systems work because understanding is the first step to creating better solutions. [5]


Critical connections between the Circular & Regenerative Economy and Blockchain


While policy instruments aim to promote good practices and legislation to ensure compliance, the global scale of our production, distribution, and consumption networks makes our complex waste management systems vulnerable to mismanagement and potential corruption. There is a lack of knowledge about what happens to the waste and the potential for them to end up in landfills or incinerators, probably releasing toxic substances into the environment. Designing appropriate mechanisms integrating waste management systems into a global circular economy and ensuring transparency and accountability in monitoring, reporting, and enforcement mechanisms are critical. [3]

Blockchain would be an efficient way to build a more transparent system connecting all the players in a product’s value chain and improving performance and communication along supply chains. By linking producers, distributors, and consumers, we can leverage blockchain and ensure accountability for the management of ‘waste’. Growing trust in the system will facilitate the transition to a circular economy, reduce waste, and lead to a more sustainable future. [3]

Blockchain technology can also contribute to the circular economy by helping to reduce transaction costs, ensuring the protection of human rights, reducing carbon footprint [11], and measuring impact.

Without knowing what a product is made of, it cannot be recycled; without knowing how it was used, the potential for reuse is also unknown. Critical to optimal reuse and recycling is that information about a product’s components and how it was used is shared among the various participants in the supply chain and, after the sale, with the owners. Information is essential for a circular economy. Because of its transparency and traceability, blockchain can be collectively verified, ideal for processes involving multiple organizations. [18]


Other blockchain features that could find application in the circular economy include smart contracts and tokenization. The latter could encourage participants to share data or take some other beneficial action in exchange for a blockchain-specific currency [18] or incentivize sustainable behaviour, while the first offers diverse opportunities for supply chain management.

However, there are many barriers to overcome. A challenge noted by some researchers is that a company that tries to get suppliers and competitors to share information could be viewed with suspicion. In addition, there is a reluctance to create wholly transparent supply chains, which could require companies to divulge sensitive information. [18] Nonetheless, this is a change that needs to happen.

Every opportunity Blockchain offers increases the value of organizations, their products and services. It is important to remember that the technology can go beyond the method of tracking products and making information and the supply chain more transparent. [19] Blockchain creates a whole new way of exchanging value and interconnecting each value exchange, and in the end, the Circular Economy is all about value – economic, environmental, and social.

To discuss circular and regenerative economies with the authors or know more about how blockchain can contribute to sustainable economic growth join us at the iconic Mayflower hotel, this May from 25th -27th. Details below:

Blockchain & Sustainable Economic Growth






[1] The Ellen MacArthur Foundation. Circular economy principles: Regenerate nature. Retrieved from: <>


[2] The Ellen MacArthur Foundation (2021). Completing the picture: How the circular economy tackles climate change. Retrieved from: <>


[3]  Blockchain & Climate Institute (2021). Blockchain, waste management, and the circular economy. Retrieved from: <>


[4] The Ellen MacArthur Foundation. Circular economy introduction: What is a circular economy? Retrieved from: <>


[5] The Ellen MacArthur Foundation. The circular economy in detail. Retrieved from: <>


[6] European Parliament (2015). Circular economy: definition, importance and benefits. Retrieved from: <>


[7] World Economic Forum (2022). What is regenerative capitalism and why is it important? Retrieved from: <>


[8] techDetector (2022). Regenerative Economy. Retrieved from: <>


[9] Circulab (2022). Regenerative and circular economy, what is it? Retrieved from:  <>


[10] Circle Economy (2020). The Circularity Gap Report 2020. Retrieved from:  <>


[11] Upadhyay, ​​A.; Mukhuty, S.; Kumar, V.; Kazancoglu, Y. 2021. Blockchain technology and the circular economy: Implications for sustainability and social responsibility. Journal of Cleaner Production, Volume 293. doi:


[12] World Resources Institute (2021). 5 Opportunities of a Circular Economy. Retrieved from:  <>


[13] United Nations Environmental Programme (2019). Global Resources Outlook 2019: Natural Resources for the Future We Want. Retrieved from:  <>


[14] The Ellen MacArthur Foundation (2021). Completing the picture: How the circular economy tackles climate change. Retrieved from:  <>


[15] Galvão, G.; Homrich, A.; Geissdoerfer, M.; Evans, S.; Ferrer, P.; Carvalho, M. (2020). Towards a value stream perspective of circular business models. Resources, Conservation and Recycling, Volume 162. doi: ​​


[16] Accenture (2015). The Circular Economy Could Unlock $4.5 trillion of Economic Growth, Finds New Book by Accenture. Retrieved from:  <>


[17] International Labour Organization (ILO) (2018). 24 million jobs to open up in the green economy. Retrieved from:  <>


[18] Tech Monitor (2022). Blockchain may yet prove its worth in the circular economy. Retrieved from:  <>


[19] Ellen MacArthur Foundation (2018). What Is a Blockchain & How Can it Help a Circular Economy? Jessi Baker Discusses | Summit 2018. Retrieved from: <>

Written By

Priya Guliani, UK President GBA and Lead Sustainable Environmental Stewardship


Mariana Chapouto Lopes

Request For Comments (RFC) – Voting Supplement

In 2018 several counties in the United States piloted elections using internet-connected devices for uniformed and overseas citizens.

As a result of the successful pilots, various election officials have expressed the need for a method of certifying Remote Accessible Ballot Delivery Marking & Return (RABDMR) to support the wider implementations of solutions.

However currently, there are no standards to certify solutions capable of internet return of a marked ballot. Current certification laboratories use a standard created by the Election Assistance Commission of the US Department of Commerce known as the Voluntary Voting System Guidelines (VVSG). Download the VVVSG 2.0

The VVSG does not define the requirements for electronic remote ballot delivery, marking, and return solutions. Furthermore, the EAC guidelines demand that all devices are air-gapped from the internet.

In response, the Government Blockchain Association (GBA) assembled a group of elections and technology experts to develop standards for a COTS device-based, end-to-end secured voting application.

The resulting work product is a proposed submission to the EAC known as the VVSG 2.0 RBDMRS Supplement v04. The group requests that people that are knowledgeable and interested in the subject review the document and provide their feedback and comments in the form below.

Feedback will be accepted until July 4, 2022.