Abstract
Blockchain ledgers and the Cloud are a perfect match. On the one hand, there is an inherent requirement for multiple separate authentication nodes to validate every Blockchain transaction with each node requiring substantial encryption calculation capability. On the other hand, massive economies of scale can bring down the cost per transaction, and provide service continuity. Additionally, the Cloud provides a perfect incubator for proof-of-concept projects. This paper considers the future implications of Blockchain, as the concept of disintermediated trustless ledgers stimulates the imagination of computer scientists and innovators. The Cloud’s role in implementing this new paradigm is also highlighted, as a new decentralized P2P-Cloud model. Finally, this paper discusses how Blockchain may be integrated into the university level computer science and information technology curriculum.
Highlights
Blockchain technology is defined as “a tamper-proof, shared digital ledger that records transactions in a public or private peer-to-peer network
Some of the reasons are elaborated on by Tyler Smith of BHP Billiton, in a speech to the International Blockchain Week 2016 conference organized by Consensys Media and ENS, where he espoused the virtues of a shared consortia model which would share and retain public information to meet the regulatory requirements of countries where they mine for resources, whilst saving both the host country and other industry participants billions of dollars which are currently wasted delivering an inferior library via inefficient systems [11]
From a user’s perspective, the cloud seems to be at the heart of the birth of Blockchain, with the random democracy of Bitcoin node and mining participation fulfilling parts of the NIST definition of Cloud computing, as “a model for enabling ubiquitous, convenient, on-demand network access to a shared pool of configurable computing resources” [14], or at least, helping define a new form of distributed Cloud termed P2P Cloud, best espoused by a company called STORJ, “the first decentralized, end-to-end encrypted cloud storage that uses blockchain technology and cryptography to secure your files.”
Summary
Blockchain technology is defined as “a tamper-proof, shared digital ledger that records transactions in a public or private peer-to-peer network. Stephan Tual, CCO of Swiss nonprofit startup Ethereum, claimed at their 2015 launch and ‘smart contracts’ Blockchain, that “The vision of a censorshipproof ‘world computer’ that anyone can program, paying exclusively for what they use and nothing more, is a reality.”. He claims Ethereum as the “World’s first zero infrastructure platform” [6]. Some of the reasons are elaborated on by Tyler Smith of BHP Billiton, in a speech to the International Blockchain Week 2016 conference organized by Consensys Media and ENS, where he espoused the virtues of a shared consortia model (group of like-minded but possibly economically competitive organizations) which would share and retain public information to meet the regulatory requirements of countries where they mine for resources, whilst saving both the host country and other industry participants billions of dollars which are currently wasted delivering an inferior library via inefficient systems [11]
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