Challenges and practical implementation of Blockchain

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There is no doubt that putting together extraordinary engineers / programmers and sellers can be a challenge. bridge between technicians and businessmen to make life easier when it comes to implementing any new technology because, at the end of the day, all technological investments must be translated into some kind of business result (ie, having more functionality in a product, better services, secure platforms for storing and exchanging information, etc.)

Blockchain has been around for about a decade, but confusion surrounds it because there is the common misunderstanding that the blockchain is Bitcoin or some other kind of cryptocurrency.It is the idea that it is a new technology and that it is in the early stages of development, so having blockchain as part of a business solution could n on being a good idea.

Companies want their technology and teams to understand creative ways to provide faster and more accurate information for their end users, customers, suppliers and any other business line within or outside the organization. out of the organization. In addition to the challenge of the workforce, the lack of knowledge of blockchain technologies makes it difficult to find a true case of use within an organization that matches the technology perfectly.

Let's see what are the challenges on the technology front:

Choosing the right technology

Nowadays, there is so much marketing on the blockchain and various technologies that are declared applicable to the blockchain that the lack of authentic information about how other companies are using it creates a blurry image when it comes to the actual execution. It is very important to do your research and move beyond marketing stories to understand how a particular company or organization has implemented its blockchain solution. A reference architecture diagram is a good starting point, and then we'll see if a business use case history fits well with the feasibility of integrating various pieces of business technology with blockchain.

Ways To Filter

The challenge of adding or removing technologies based on demonstration of the concept is still an option, but how to do it intelligently without spending too much time and money to perform tests only different concepts could be a challenge. There is a need because of the lack of ready-to-use software that can provide access to various blockchains and allow developers to execute smart contracts to test and fail quickly.

Should I reinvent the wheel?

In general, the answer is almost always not, but we discover the relevance of this question on blockchain. Most blockchain technologies are open source and developers can customize them and start developing solutions on them. But the most important question to answer is based on the first challenge I have touched and on how to take the chosen technology and bring it into production. Based on my experience, there is a strong need for software as a service, which can provide a productive, economical and simple approach to having blockchain as part of a business solution. There are companies like Amazon, IBM and Microsoft that are providing blockchain as a service and use creative ways to write smart contracts.

Choosing the right technological partner

This goes without & nbsp; saying you get what you pay for. The challenge is to find a partner company that has a proven track record of working and implementing & nbsp; blockchain rather than someone who uses only a marketing ploy. Furthermore, during the discussions and implementations of Blockchain, I also focused on talking with technical people to learn and I also focused a lot on the stories and technical experience of the partners.

Here are some key points to consider when looking for a potential partner:

  • Check if they have an open source footprint / involvement.
  • Make sure they have a technical team structure.
  • Read all their technical blogs and find out more about their & nbsp; lessons learned or mistakes made during the implementation of the solution

Learning from the lessons of others

As discussed in the second point, there is a lack of truthful information about the production histories of other organizations and this creates a challenge in deciding on which technology to use and which cases of practical use to emulate. Even so, you should still do the following:

  • Conducting a smart solution Q & amp; Sessions with technological partners help to design a better solution.
  • Understand the business use cases or critical points of a particular product, then go to the point of why and how the blockchain helped solve the problem.
  • Research carefully to choose the right technological partner, as mentioned above.

Building a Center of Excellence (COE)

As discussed in a previous post blockchain is about to gain a strong impetus in a year or so – just like the & # 39; Artificial intelligence and machine learning have come to the fore in the last two years. Since we are starting to see further blockchain implementations, there is a lack of access to real blockchain experts. The COE plays a key role and the structure of the COE varies from one organization to the organization, but on a generic level, one can imagine having a product manager or a project manager at the central and business and technological people that communicate to the nucleus. The core helps to build the bridge between the various people involved.

Blockchain is a disruptive technology and understanding its use properly is a challenge because there is a lot of confusion with cryptocurrencies and other challenges. As with any new technology, you will have to exit your comfort zone to embrace it, but it is up to you to follow the advice & nbsp; that I exposed here to really understand if the blockchain is right for your business. [19659026] Forbes Technology Council is an invitation-only community for CIOs, CTOs and world-class technology executives.
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There is no doubt that putting together fantastic engineers / programmers and vendors can be a challenge. There is a need for a bridge between technologists and business people to make life easier when it comes to implementing any new technology because, at the end of the day, all technological investments must be translated into some kind of economic result (ie, having more functionality in a product, better services, secure platforms for storing and exchanging information, etc.)

Blockchain has been around for about a decade, but confusion surrounds it because there is the common misunderstanding that blockchain is Bitcoin or some other kind of cryptocurrency. Also, there's the idea that it's a new technology and that it's in the early stages of development, so having blockchain as part of a business solution might not be a good idea.

Companies want their technology teams to come up with creative ways to provide faster and more accurate information for their end users, customers, suppliers and any other business line within or outside the organization. # 39; organization. In addition to the challenge of the workforce, the lack of knowledge of blockchain technologies makes it difficult to find a true case of use within an organization that matches the technology perfectly.

Let's see what are the challenges on the technological front:

Choose the right technology

Nowadays, there is a lot of marketing on the blockchain and various technologies that claim to be applicable to the blockchain that the lack of authentic information about how other companies are using it creates a blurry image when it comes to actual execution. It is very important to do your research and move beyond marketing stories to understand how a particular company or organization has implemented its blockchain solution. A diagram of reference architecture is a good starting point and therefore to see if a business use case history fits well with the feasibility of integrating various components of corporate technology with blockchain.

Ways To Filter

The challenge of adding or removing technologies based on demonstration of the concept is still an option, but how to do it intelligently without spending too much time and money to perform simply different proofs of concepts could be a challenge. There is a need because of the lack of ready-to-use software that can provide access to various blockchains and allow developers to execute smart contracts to test and fail quickly.

Should I reinvent the wheel?

In general, the answer is almost always not, but we discover the relevance of this question on blockchain. Most blockchain technologies are open source and developers can customize them and start developing solutions on them. But the most important question to answer is based on the first challenge I have touched and on how to take the chosen technology and bring it into production. Based on my experience, there is a strong need for software as a service, which can provide a productive, economical and simple approach to having blockchain as part of a business solution. There are companies like Amazon, IBM and Microsoft that are providing blockchain as a service and use creative ways to write smart contracts.

Choosing the right technological partner

This means that you get what you pay for. The challenge is to find a partner company that has a proven track record of working with and implementing blockchain rather than someone using just a marketing ploy. During the discussions and implementations of Blockchain, I also focused on talking with technical people to learn, and I also focused a lot on the stories and technical experience of the partners.

Here are some key points to consider when looking for a potential partner:

  • Try to see if they have an open source footprint / involvement.
  • Make sure they have a technical team structure.
  • Read all their technical blogs and find out more about the lessons learned or about the mistakes made during the implementation of the solution.

Learning from the lessons of others

As discussed in the second point, there is a lack of truthful information about the production histories of other organizations and this creates a challenge in deciding which technology to use and which ones practical use cases to emulate. Even so, you should still do the following:

  • Conducting smart question and answer sessions with technology partners helps you design a better solution.
  • Understand the business use cases or critical points of a particular product, then reach the point of why and how blockchain helped solve the problem.
  • Carry out accurate research to choose the right technology partner, as mentioned above.

Building a Center of Excellence (COE)

As discussed in a previous post the blockchain will gain a strong impetus in a year or so – just like artificial intelligence and the & # 39; machine learning have come to the fore in the last two years. Since we are starting to see further blockchain implementations, there is a lack of access to real blockchain experts. The COE plays a key role and the structure of the COE varies from one organization to the organization, but on a generic level, one can imagine having a product manager or a project manager at the central and business and technological people that communicate to the nucleus. The core helps to build the bridge between the various people involved.

Blockchain is a disruptive technology and understanding its use properly is a challenge because there is a lot of confusion with cryptocurrencies and other challenges. As with any new technology, you will have to exit your comfort zone to embrace it, but it is up to you to follow the suggestions I have put forward here to really understand if the blockchain is right for your business.

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