Title

AWS re:Invent 2022 - When to use blockchain: Private and public use cases (BLC201)

Summary

John Liu, head of product for AWS Web3 and Blockchain Services, discusses the adoption and innovation of blockchain technology in 2022, including its use in private and public sectors.
Four criteria for identifying good blockchain use cases are presented: decentralization, immutability, automation, and performance requirements.
Private blockchains are suitable for sensitive information sharing within known network members, while public blockchains are open and permissionless, driving innovation and adoption.
AWS and Amazon Managed Blockchain are used by customers to build Web3 and blockchain applications, offering a range of services to support development, security, and data management.
Elliot from CJ Corporation presents a private blockchain solution for supply chain management, highlighting the Chain One platform's benefits in pharmaceutical distribution.
Will Harkness from Toyota Connected shares a public blockchain solution, detailing a pilot program that provided personalized NFTs to participants of the Lexus Performance Driving School.

Blockchain technology is increasingly being adopted by both private enterprises and governments for various applications, including digital currencies, identity solutions, and supply chain management.
Private blockchains are preferred by entities that require control over network access and compliance with regulatory standards, while public blockchains are favored for their openness and innovation potential.
AWS provides a comprehensive suite of services tailored for blockchain development, including Amazon Managed Blockchain, which simplifies the creation and management of blockchain networks.
Real-world applications of blockchain, such as CJ Corporation's Chain One platform, demonstrate the technology's ability to enhance transparency, efficiency, and regulatory compliance in supply chain management.
The use of NFTs by Toyota Connected illustrates how blockchain can create unique customer experiences and digital memorabilia, showcasing the potential for blockchain to intersect with consumer engagement strategies.
The session highlights the importance of understanding the specific needs and criteria of a use case when considering blockchain as a solution, emphasizing that blockchain is not a one-size-fits-all technology.