ServiceChain: Blockchain technology geared toward business use

Blockchain is based on a tamper-proof record of digital transactions or events, maintained identically across all of its nodes and updated only when the majority of participants approve each new transaction by consensus; once that consensus is reached, the information cannot be modified or deleted, thanks to the algorithms that protect the integrity of the chain.

The project's objectives were to:

• Research and develop blockchain technology geared toward business use.
• Facilitate the adoption of this technology by both the consortium's companies and their customers.
• Meet the applicable national and international regulatory requirements, including the General Data Protection Regulation (GDPR).

ServiceChain was structured around the following areas:

• Digital identity: management of personal information by users and companies, with interoperability to automate access to and use of that information.
• Traceability of digital assets: exchange of component and product information along the value chain between business consortia, ensuring data sovereignty.
• Digitization of relationships through smart contracts: automation of relationships with third parties and of actions on the blockchain without human intervention.

The project proposed three demonstrators for future application of the technology, in the energy, Industry 4.0, and smart city sectors, as use cases tailored to the consortium's capabilities and its potential for commercial exploitation. Magtel had the collaboration of CTIC, which focused its joint work on the energy sector demonstrator.