Thursday, May 02, 2019

Adopting Blockchain Applications

Although blockchain has not been widely adopted in business as yet, there are signs that this will change. One of the key aspects of blockchain is that it can be used to promote (or substitute for lack of) trust among users. For example, if there is a situation in the company where a database is needed, and there is a lack of trust among the users, then blockchain might be the answer.

Before adopting, the situation would need to be defined carefully, the processes involved mapped out, and a comparison made of what those processes would look like in a blockchain environment. Then it is possible to evaluate the monetary and non-monetary benefits of the blockchain approach to that situation. A blockchain expert could help with this.

Beyond that, the usual routines for new applications apply, including user involvement, testing, phase-in, etc.

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