Why blockchain isn't magic and it won't fix every problem you have

Why enterprises need to get smarter about blockchain uses cases and think more about deployment.

Companies high and low are trialing blockchain technologies. According to Outlier Ventures, over 100 enterprises currently have proof of concept trials underway. As the technology and the companies that operate in the space mature and become more enterprise-friendly, companies’ understanding of what blockchain is and isn’t also needs to evolve.

Organizations need to learn what the value of blockchains is, the differences between each type -- federated, private, public etc. -- when it makes sense to actually use these technologies, and how to integrate those technologies within the business in a scalable and sustainable way.

 

Blockchain - what is it good for?

The main current uses cases for blockchain technology within enterprise spaces involve transactions; that could be the swapping of digital assets between two or more parties, tracking goods being moved from one place to another, or as a way to verify trust between two parties when assessing information.

“You have to go through a use case rationalization exercise to see if blockchain makes sense for a business,” says Adam Robyak, Field CTO, Dell ‎EMC.

“Do I require audibility in my business processes? Do I need traceability or to prove the source of origin? Do I need to see the chain of custody? Do I need to interact to multiple entities? Is there potential for different motivations between different parties involved? Those are the types of things you need to focus on when you think about different types of use cases.”

To continue reading this article register now