Anndy Lian, a renowned business strategist and blockchain expert, led a captivating training session for the Asian Productivity Organization (APO) and the National Productivity Centre (NPCC). For his session, he wanted to demystify the complex world of blockchain architecture, platforms, and their integration with other cutting-edge technologies.
Lian began by breaking down the fundamental building blocks of blockchain architecture. He explained how individual computers or devices, known as nodes, form the backbone of the network, each meticulously maintaining a copy of the blockchain and working collaboratively to validate transactions. He delved into the concept of the blockchain protocol, a set of rules and procedures that dictate the network’s operation, including the crucial consensus mechanisms that ensure all nodes agree on the blockchain’s state.
He then ventured into the different types of blockchains, each with unique characteristics and applications. Public blockchains, like Bitcoin and Ethereum, are open to anyone, operating in a decentralized and transparent manner. Private blockchains, on the other hand, are permissioned networks accessible only to a select group, often favored by organizations prioritizing efficiency and control. Lastly, hybrid blockchains combine elements of both, offering flexibility and scalability by controlling data visibility.
To illustrate blockchain’s real-world impact, Lian presented a compelling case study involving IBM and Maersk’s TradeLens platform. This innovative platform leverages blockchain to revolutionize global trade by digitizing and streamlining processes, addressing the challenges posed by traditional manual systems. TradeLens creates a transparent and tamper-proof system for tracking shipments and managing documentation, paving the way for a more efficient and secure global trade network.
Lian emphasized that blockchain’s potential is unlocked when integrated with other emerging technologies. He highlighted its synergy with Artificial Intelligence (AI) and Machine Learning, where blockchain can enhance AI models by securing data sharing for training and enabling the creation of decentralized AI systems. He also explored its role in the Internet of Things (IoT), where blockchain enhances security, transparency, and decentralized management of connected devices and data.
Looking towards the future, Lian discussed how blockchain can strengthen security and enable efficient device authentication in the rapidly evolving domains of 5G and Edge Computing. He also touched upon its potential in Augmented Reality (AR) and Virtual Reality (VR), where blockchain can enhance security and ownership of digital assets.
For government officials considering blockchain adoption, Lian offered practical advice. He encouraged starting small with a simple project to gain a practical understanding of the technology and its potential. He stressed the importance of clearly defining objectives, identifying the specific problem blockchain will solve, and understanding the data involved. Choosing the right platform is crucial, considering factors like security, scalability, support, and long-term viability. Finally, he emphasized prioritizing data security and privacy, implementing robust measures to protect sensitive information.
The session concluded with an engaging Q&A, where participants sought Lian’s insights on various aspects of blockchain technology. He addressed questions on consensus mechanisms, mining, 51% attacks, the proliferation of blockchain platforms, and interoperability challenges. Lian stressed the importance of choosing reputable platforms with solid backing and comprehensive documentation, advising participants to seek expert guidance for complex integrations.
Anndy Lian’s session provided invaluable insights into the transformative potential of blockchain technology. He demystified its complexities, offered practical guidance for implementation, and ignited the imagination of participants by showcasing its potential to revolutionize various sectors. As blockchain continues to evolve, its integration with other emerging technologies promises to unlock unprecedented opportunities for innovation and efficiency across industries and government services alike.
Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.
Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.
An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.