What is blockchain?

Blockchain is a technology that allows to interact or exchange value between two or more participants that do not necessarily need to trust each other.

Blockchain, the disruptive technological revolution

THREE KEY ASPECTS OF BLOCKCHAIN

Data Integrity

Value transactions are stored in an immutable register, formed by transaction blocks that, thanks to its cryptographic features, it is almost impossible to modify or forge.

CONSENSUS

By means of a consensus algorithm, participants choose the next transaction block to be saved in Blockchain. Only those transactions contained in a block of the chain will be accepted as valid.

Fault Tolerance

In Blockchain, data is replicated throughout all the servers participating in the transactions. Therefore, the information is always accessible.

Blockchain Lab

The objective of GT Blockchain Lab is to create Blockchain solutions for all sectors, both at a national and international levels. Counting on a multidisciplinary talented Blockchain technology team, formed by developers, software architects, lawyers, economists and consultants.

A multidisciplinary blockchain team

Development

Our laboratory has an expanding team made up of software developers and architects, all with practical experience in blockchain solutions focused on solving industry problems. All emerging blockchain technologies (Ethereum-based solutions, such as Quorum or Parity; Hyperledger Fabric; IOTA…) are thoroughly studied and tested in the GT Blockchain Lab, which enables us to provide our clients  with the exact functionalities based on their specific needs.

Business & Finance

In the GT Blockchain Lab, we have experts in Economics and Finance which makes it possible for the development of technological solutions to also incorporate the business and financial needs of the client and project. As blockchain is such a nascent technology, one of the challenges it faces is integration with other key pillars of a business model outside a proof of concept. In order to make it possible, the team is always analysing the viability of new use cases.

Legal

One of the other key challenges facing blockchain, is how it interacts with current law and regulation. When developing a blockchain solution, we understand that it´s crucial for our clients to ensure compliance with the various “offchain” laws and regulations, and ultimately aiming to avoid impacting the rights and protection of their customers. Our lawyers have extensive experience in the blockchain ecosystem, and we continue to invest time and research into how blockchain is interacting with regular compliance.

SERVICES OFFERED

STRATEGY

Investigation, Strategic Plans and PMOs to achieve a transversal Blockchain implantation.

IDEATION

Analysis, evaluation and use case validation from technical, legal and business perspectives.

TRAINING

Sector-oriented training Sessions for all areas (business, legal & technical).

ALLIANCES

Evaluation of alliances and new consortiums with third organizations.

FROM POCS TO DAPPS

DAPPs development after POC & MVP phase completion, to launch applications into Production environments.

CRYPTOCURRENCIES

Cryptocurrencies technology evaluations and crypto-portfolio management.

CODE AUDIT

We guarantee the correct functioning of Smart Contracts in ICOs and business DAPPs.

TECHNOLOGICAL OBSERVATORY

We are constantly studying the news and techniques to remain on the edge of the technology’s state of the art.

Our expertise through sectors

Our costumers include some of the most important Spanish financial institutions, for whom we have designed and implemented Blockchain solutions that improve their back office processes and create new business models. Among these systems, there are digital identity protocols and solutions for programmable tokens issuance and operation.

We are working with insurance companies in order to develop Blockchain solutions mainly focused in facilitating the management of clients data through our Decentralized Digital Identity Protocol (DDIP).

Other developments allow to create new, more transparent business lines; eliminate P&C manual processes; and improve the synergies amongst different subsidiaries of the same business group.

In Grant Thornton Blockchain Lab we are developing Proof of Concepts with Blockchain technology for automatic management of drugs supply chains. This systems can helpt to prevent forgery and fraud, and also can lead to savings in management costs.

In addition, we have designed solutions for management of patients clinical information in a transparent, efficient and secure manner.

Grant Thornton Blockchain Lab leads digital transformation in the construction industry through the development of a pioneering system which combines BIM technology (Building Information Modeling) and Blockchain. This solution will be used to certificate and to trace information about the builiding, which in turn facilitates the management of Intellectual Property, ensures an adequate division and discharge of responsibilities and improve the efficiency of several tasks in a project, through the automation of processes with Smart Contracts.

We work together with some of the largest corporations in the energy sector in Europe. This collaboration has lead to the development of Proofs of Concept that speed up intern processes, optimize supply chains tasks and generate new sharing economy business models and a new kind of entity called prosumers.

In Grant Thornton, we have worked with some of the largest european automotive companies in the development of Proof of Concepts with Blockchain technology with the goal of improving security and efficiency of supply chains.

Mainly, we have developed prototypes for managing the car manufacturing process in a secure and fast way, as well as solutions for the improvement of connected vehicles’ data management.

GRANT THORNTON & BLOCKCHAIN IN THE PRESS