Blockchain has been dubbed the biggest disrupter since the internet. It has huge potential to improve numerous industries. Possible benefits include reduced costs, elimination of data duplication, increased transaction speed and greater resilience.
As blockchain breaks free of its cryptocurrency mold, many businesses are hoping to cash in on the plethora of uses for this innovative ledger system. But deciding why, when and how to implement it has some scratching their heads.
According to PwC, there are 9 key questions to consider before implementing blockchain:
- Will blockchain disrupt my business and should we adjust our business strategy?
- Is the purpose of the business application clearly understood and is blockchain the right technology?
- How do we ensure the technology is resilient, scalable, secure and recoverable?
- Are we considering the impact blockchain technologies could have on the market we operate in?
- Are there opportunities for blockchain technologies to reduce cost or improve customer service?
- Do we need to cooperate with others in order to fully realize the benefits that blockchain can bring?
- How will it be governed and administered?
- Who will control identity, roles and rights?
- Are we taking blockchain into account in our 3-5 year technology plans to avoid regret spend?
Have you registered for Advanced Blockchain for Enterprise yet?
Learn more about what the future of blockchain could look like in your industry during Advanced Blockchain for Enterprise. This live virtual event takes place over the course of two 1-hour virtual sessions, 12-1pm daily 4-5 December 2018.
Discounts available for 2+ seats. Train your entire organization in two hours, for the same low price.
[…] to Gartner, by 2023, 30% of manufacturing companies with more than $5 billion in revenue will have implemented pilot projects using blockchain, up from less than 5% […]