Blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking in a business network.
You may be fascinated by blockchain technology, hearing about all those breaking projects, and thinking about bringing it to your organization. If you have worked it is business for some years, you probably know there are rarely simple yes or no answers to the questions. Having said that, if the idea is: let’s take any relational database and change it into a blockchain network.
Let’s take together six steps to assess six aspects that help indicate if the organization is ready for the blockchain project.
Here are the steps:
- 1.Consortium
- 2.Company organizational complexity
- 3.Database vs blockchain
- 4.Trendsetter or follower
- 5.One source of truth
- 6.If… then…
And then as a bonus topic, we will mention the easiest way to decide between a public and a private network.
How a blockchain supports consortia
A consortium is a way for businesses to join forces and reach goals they can not rthemselves. In a consortium, trust needs to be gained, so it’s beneficial when the technology transparency and following the rules. A distributed ledger is a way to achieve that.
Do you know if you are ready for the blockchain project?
Analyzing aspects of the use case against readiness for the blockchain project isnt simple task, but there is a group of indicators if the blockchain can abring value to your idea. I presented 6 of them with descriptions. I hope they helped a the general blockchain or non-blockchain direction.
- Patrick Perfetto
- Founder@ xyzcompany
“Here, I'm rating the Fugu crypto app and the debit card. My experience is great! and as the app is very well designed. Crypto is a marketing is very good and I think it'll to win.”
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Kathryn Murphy
August 26, 2022It is a long established fact that a reader will be distrac readable content of a page when looking at its layout. The point of using is that it has two.
Darrell Steward
August 26, 2022It is a long established fact that a reader will be distra readable content of a page when looking its layout. The point of using.
Ronald Richards
August 26, 2022It is a long established fact that a reader will be distrac readable content of a page when looking at its layout. The point of using is that it has two.