6 Questions to Ask When Considering Blockchain Solutions for Enterprise

“(…) How do you plan blockchain projects that provide the greatest utility?

Blockchain technology is still nascent. It is more expensive and time consuming to build a blockchain application than a traditional cloud app in many situations. Successful applications will not only create efficiencies, but also have a sufficient impact on the status quo. That is to say: You have to find the right problem before you can build the right solution. There are use cases that can create incredible value, but it’s important to make sure you’ve selected the right ones to demonstrate the real capabilities of the technology.

Before we build anything at ConsenSys, we evaluate the blockchain use case to make sure there is a return on investment. We do this by mapping the business process and use case to specific blockchain capabilities: digital signatures, distributed immutable ledgers, smart contracts, tokenization and decentralized identity. We only pursue applications where we can demonstrate how these basic blockchain building blocks provide significant benefits to an application and solve a real problem.

A key element for success is to ideate the future state. What can the business process look like as a decentralized network? Often times, these networks look radically different — and radically better — than the current business processes, with many fewer steps, intermediaries and costs, releasing capital and improving user/customer experience. (…)”

Via Consensys – read full article at http://ow.ly/2gp630hVEgV