Blockchain technology has grown in recent years to become buzzword status, but government agencies are fine-tuning their use cases for the technology and picking their blockchain projects wisely, said Mark Fisk, partner in IBM Digital for Global Business Services.
"It's gotten a lot better over the last year. I was doing probably five blockchain 101 conversations a week. Now I'm doing five 'well I think that part has changed, "said Fisk on Dec. 4 at IBM's Serving Citizens Better through Digital Reinvention event.
However, the boom in blockchain And not every agency needs blockchain for the project
"I think it's about one in 25 where you have a business that's getting that overall value, and you're willing to move forward and look into it, "he said.
For those looking into a blockchain project, Fisk identified key questions to answer.
"In that initial discussion, you're asking questions like," would that business network participate? They would participate? What is the friction point today – what information would they not share with you? And then … if I'm in that third stage moving from a prototype to proof of concept, how do you actually measure the success of that initiative? "
In the government realm, blockchain also needs to overcome funding and regulatory hurdles.
"In government, I think it's unique because there's a unique perspective on how we're going to be sponsoring this," said Fisk. "I think the second piece is, quite frankly, like FedRAMP, HIPAA, other reasons why maybe, as I start this project, I need to start it at FedRAMP or HIPAA compliant boundary," he added.
However, for projects that can realize the value of blockchain, there are major benefits to the technology. And while advocates may pontificate about how blockchain will transform the world, a blockchain project does not have to be that big of a deal.
"One can not be a digital reinvention," Fisk said, but said in practice "can be started with a tactical problem with your existing process. There are blockchains out there that have gotten up in less than six months, and have provided tremendous business value, "said Fisk.
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