How To Test The Waters Before Diving Into Blockchain

Is your organization ready for blockchain or distributed ledger technology? There is certainly no lack of enthusiasm. A recent survey of 200 business leaders by SAP finds while 92 percent view blockchain as an opportunity, only three percent actually have blockchain in production. The two most promising applications seen for blockchain include supply chain management and legal/regulatory oversight.

Photo: Joe McKendrick
Test the water before diving into blockchain.

As evidenced by the relatively slow pace of adoption against all the hype and hope, executives need to think carefully about why, where and how they are adopting blockchain in their day-to-day business.

In a new report from the World Economic Forum, this questions is answered. The authors of the report, Cathy Mulligan, JP Rangaswami, Sheila Warren, and Jennifer Zhu Scott outline questions executives need to ask before they move forward with blockchain. As they observe, despite strong interest in adopting blockchain, business leaders have "significant questions and confusion about whether blockchain would actually address their business needs and had serious concerns about security, immutability and when to use a private or public blockchain." There's a need for objective and practical guidance in cutting through the hype and identifying where blockchain could add true value to their companies to cut through the confusion, they add....https://www.forbes.com/sites/joemckendrick/2018/04/23/how-to-test-the-waters-before-diving-into-blockchain/#475d1e0e7a5e