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Why establish a CGO-SIG? | As we observe the landscape of blockchain business technologies we clearly see that day after day it requires interoperability, cross functional capabilities, and business cooperation from different industries. Blockchain consortia are playing a key role in terms of technology implementation in society for business use cases, from big corporations to SMEs. Further studying how to manage at best practices this phenomenon is necessary for a better software development, with the goal to further investigate the upcoming business needs and requirements. At the same time, it is vital to create an interaction between all different areas of industry SIGs are nowadays focusing on,, from a technological perspective, such as interoperability. Blockchain-based collaboration cannot come from a single company. Industry collaboration has to proactively drive disruption, innovation, and transformation throughout the industry by identifying and modeling areas that can best work for society. Because effective consortia rely on the participation of multiple members, it is of utmost importance to identify the critical participants and intermediaries involved in a specific use case, understand their incentives and trust loops involved in their interactions, and have enough influence to drive the development of a cohesive platform for future developments. Each member’s individual success is based, at its core, on the group’s success; as such, every participant must commit to building a shared platform that provides a strong business case for each member in the short term, whilst also outlining a memorandum of understanding about the value drivers to pursue in the long term. There are several key questions one should consider before determining which type of consortium, new or existing, best fits for its own exigences, such as for instance:
In addition many areas have still no secure answer, the business is very peculiar and cross functional so, no theory in the books is available.
Finally, an increasing number of businesses are joining existing blockchain consortia around the world or, in some cases, developing new consortia to meet their specific needs and requirements. There is still a lot of work to be done before and after organizations decide to join a consortium. Like other critical business decisions, several factors should be considered before making any move. In subsequent articles of our blockchain consortia series, we will more closely examine the finer points of building and executing an effective consortium strategy, and take an in-depth look at specific points around technology and governance. To conclude, Hyperledger created a business environment, through different business oriented SIGs, focusing on a wide range of industries that can really benefit from understanding each other’s needs and experiences in order to foster further business integrations. Basically, it is time to create a platform for our community in which every SIG may talk to the others with the intent of learning, discussing, sharing troubles and successes. At the end of each sharing the scope is to build up a set of “core governance and operations rules” that all participants that may benefit improving their own day by day activity and further develop operations cross-industry. The final goal would be to create, session after session, a set of rules based on the takeaways of each experience introduced by all different SIGs. Although the input has started from the Trade Finance environment, which shows a treasure trove of consortia, with two of the main protagonists embodied by we.trade and dltledgers, being part of the Hyperledger Fabric family, we are open to what the “work products” of the group will be: documents, new project proposals, reports, demos. The aim is to bring the different industries experiences together. |
Application | |
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Introduction | The Hyperledger Trade Finance Special Interest Group (TF-SIG) is focused on better implementing technical and business practices to distributed ledger technology cooperation model with particular focus onHyperledger technologies. |
Scope | The activities of the CGO-SIG would include:
The CGO-SIG cannot in anyway perform or engage in any form of lobbying or attempts to influence government policy making or regulatory processes. It is also not intended as a platform for procurement of services. |
Work products | The anticipated initial work products will include (but are not limited to) a set of documents describing Consortium model formation governance & operation use for blockchain technology. All members of the group are entitled to submit a lecture proposal with the intent of showing a useful business case cooperation. All the participants are invited to share their experiences providing a use case in terms of business origination, formation, governance, operation. At the end of each meeting the lecturer will provide his “key rule” according to his presentation that will be inserted in a collector of best practices that should support all the members in the operations. The CGO-SIG SI has also the intent to support further development cross industries identifying through presentations common ground for cooperation. |
Collaborators (other groups) | This SIG will report its progress to Hyperledger point of contact and the GB, with notification to the TSC. The initial components are represented by members of Hyperledger SIG focusing on specific fields and relevant invited experts from Chairs of SIG. Every SIG will periodically have a chance to host a meeting and Chair may invite components of the SIG or other Consortium members to share their experience. This SIG will also work with the Hyperledger Brand and Marketing teams to ensure the materials developed meet the brand and trademark guidelines. This CGO-SIG will align and collaborate with other core Hyperledger SIG and frameworks especially in the areas of Architecture, Performance and Scalability, Identity and Smart Contracts and Integration. |
Meetings | The participants will invite regularly ( e.g. 1 per month) one business consortium to explain how the use case, the formation process, the governance structure and operational process, on boarding and due diligence process, e working issues. |
Interestedinterestedparties | The following individuals have already expressed an interest in joining this special group, and we hope they will become contributors over the first year: - List of interested parties listed with their consent, including name, association, and optionally email addresses. |
Proposed chair | The following individual has volunteered to serve as the initial Chair for the special interest group: Eugenio Reggianini, Konosko Group and Andrea Frosinini as Vice Chair. |
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