Blockchain and the Next Digital Revolution

The internet has come a long way from its humble Web 1.0 beginnings with its clunky websites and painfully slow download times. Since the advent of web interactivity in the form of everyday conveniences like streaming content and shared work documents, we all enjoy what’s become known as Web 2.0. But Web 3.0, a movement emerging from the blockchain and cryptocurrency world, is quickly gaining steam and it’s transforming the way the world stores, trusts, and owns online data. 

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Enabling Digital Confidence Across Industry

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Blockchain entered the tech world more than a decade ago but we’ve only just begun to realize the possibilities that live within this digital frontier. The Arizona Blockchain Applied Research Center (AZ BARC) was created to explore what’s possible and offer real-world solutions for businesses.

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While blockchain is perhaps best known for its critical role in maintaining a secure and decentralized record of transactions in cryptocurrency systems, in recent years, additional applications have risen in prominence. We have seen novel blockchain-based financial primitives (DeFi); ways for artists and creators to share and profit from their work in new ways (NFTs or Non-Fungible Tokens); and games with built-in economies that interoperate with real-world markets (anyone play Animal Crossing?) 

Blockchain proponents believe its technology will allow us the ability to guarantee the fidelity and security of data and, consequently, generate trust without the need for a third party.

Because the real innovation of blockchain lies in data reliability enabling confidence for the user, its benefits can extend into myriad solutions that can enhance our everyday lives. So the question is: how can industries like finance, healthcare, or government realize the benefits of blockchain and integrate them into their operational structures? AZ BARC may be able to provide the answers.

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Investing in The Next Wave of the Internet

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The mission of AZ BARC is simple – leverage emerging blockchain research to create usable products for a global market. 

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AZ BARC invites companies that have a presence in Arizona to become Members and gain first access to the organization's exclusive research findings. Industry leaders such as Intel, Kudelski Security, Early Warning Services, Bard Peripheral, and Movemedical have already joined as part of AZ BARC’s initial Member group.

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At AZ BARCs helm as Research Director is Dr. Dragan Boscovic, research professor for the School of Computer Science and Augmented Intelligence at Arizona State University, which is ranked #7 in the U.S. and #30 in the world for its blockchain and education initiatives. Boscovic has had a long career at the forefront of innovative tech. As blockchain came into the tech world ten years ago, he quickly recognized the significance it would have for the digital economy. 

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“Blockchain is the next wave of the internet. Web 3.0 is all about data ownership,” Boscovic says. To him, it’s a matter of exploring the ‘what if’s’ and asking big questions. Such as, what if we could use blockchain to better secure IT infrastructures? Or what if we could use it to enhance data privacy for companies? Or even, what if we could enhance the transparency within our government?

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Boscovic and the team at AZ BARC aim to build solutions around better consumer engagement, greater transparency, enhanced security, increased efficiency, and improved traceability of data. Notable inaugural projects include:

• Medical Device Inventory Management, in collaboration with BD. This project focuses on secure data sharing, provenance, and tracking of devices for better supply chain management. 
• A Multi-Signal Device ID Management project that addresses the accuracy, scalability, and privacy-compliancy to establish the integrity and security in device/IoT management.
• And Zero Knowledge Proof, exploring ways to validate a voter’s identity without the need of providing sensitive information.

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Scott Carlson, Director, Global Architecture and Head of Digital Assets and Blockchain, Kudelski Security, says, “The ability to partner with leading blockchain researchers through AZ BARC increases our knowledge base and will improve the overall confidence in blockchain solutions to cyber, threats, and data protection.” 

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Making Arizona a Household Name in Blockchain Innovation

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Arizona has the potential to become a household name in blockchain innovation.

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While there can sometimes be a disconnect between theoretical blockchain research and the real-world demands of the market, AZ BARC is driven by the marketplace needs of Member companies. This model allows AZ BARC to focus on research that will truly help Arizona’s best become even better. 

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Wes Gullett, Operations Director for Applied Research Centers at the Arizona Partnership for Economic Innovation (PEI), shares in the enthusiasm for blockchain and AZ BARC. “Before the internet, we couldn't imagine the internet,” he states. “Today, you can't imagine what life's going to be like without blockchain. It’s that indispensable of a technology.”

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Learn more about AZ BARC by visiting azbarc.org.