Web3, and its underlying blockchain technology, promises to revolutionize the way we secure and transition assets across society, with some projecting that it could be as revolutionary as the internet was in the 1990s. In this talk, Dr. Ian Taylor provided a background into the notion of distributed ledger technologies, including blockchain, and explained how they work and why they are different to centralized approaches. The presentation provided example usages of blockchain, starting with a simple cryptocurrency example, but then illustrating how blockchain can be used to support the transition of state for any digital (or physical) asset without using a central coordinator. The presentation discussed the blockchain features that enable this vision and describe which problems blockchain is a good fit for. The presentation then discussed the potential impact of blockchain across different industrial sectors, and then give several use case examples from practical commercial blockchain uses today. Finally, Dr. Taylor presented current use cases implemented in the DoD that aim to enable more efficiency for part tracking across the DoD and with OEM manufacturers.

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