Understand Distributed Trust, Ownership and Digital Value
Blockchain introduced a fundamentally different way to maintain shared digital records.
Select a center to explore guidance, standards and practitioner resources
Blockchain introduced a fundamentally different way to maintain shared digital records.
Instead of relying exclusively on a central authority, blockchain can enable distributed participants to maintain cryptographically linked records.
The IBACTP® Blockchain & Web3 Resource Center helps professionals understand both the opportunities and limitations of decentralized technology.
Core concepts include:
Open participation may be allowed.
Characteristics may include:
Participation is controlled.
Potential enterprise applications include:
Smart contracts are software programs that execute within blockchain environments.
Potential uses include:
Risks include:
Tokenization can represent:
Potential use cases include:
Web3 generally refers to digital ecosystems that emphasize decentralized technologies such as:
Potential goals include:
Track provenance, custody, authenticity, and transactions.
Support payments, settlement, tokenization, and new digital financial instruments.
Enable verifiable credentials and identity models.
Potentially support secure data-sharing and auditability.
Support registries, digital identity, and record integrity.
Blockchain should not be treated as a default answer.
Ask:
Is there a trust problem between multiple parties?
Is tamper evidence important?
Can a traditional database solve the problem more efficiently?
Who governs the network?
Who validates transactions?
How are mistakes corrected?
What privacy concerns exist?
What legal environment applies?
Organizations should consider:
Pair these resources with an IBACTP® credential that validates the competence they describe.
