Demystify Blockchain: How Can It Bring Value to Your Organization

  • ID: 4483693
  • Report
  • Region: Global
  • 72 Pages
  • Info-Tech Research Group
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After bitcoin’s media frenzy, blockchain is finally receiving its rightfully deserved attention as the fundamental and transformative technology behind the cryptocurrency. Business blockchains are now one of the hottest topics for boardroom meetings and investments are growing exponentially as companies race to become early adopters.

Yet, if an organization really wishes to absorb the power of blockchain, it requires a clear strategy that outlines the benefits and path to success. Companies must start with business problems first, and then select the right time, partners, and technological design to maximize the value of blockchain.

This research is designed for:

  • CIOs
  • IT Leaders
  • CEOs
  • CDOs
  • Business Stakeholders

This research will help you:

  • Understand what blockchain is, including the unique characteristics of this transformative technology.
  • Articulate both the value and constraints of blockchain technology.
  • Formulate a use case and validate its alignment with your organization.
  • Understand how blockchain technology is being adopted in different industries.
  • Brainstorm where and how blockchain can solve current business problems and create value.

Blockchain is more than just a buzzword; it has transformative potential for your organization. To unlock its value and ultimately become an industry leader, you should understand how and if blockchain aligns with your organization.

Key statistics:

  • 80% of finance executives believe that distributed ledger technology will be transformative
  • 46% of large US companies have initiated blockchain projects
  • 39% of executives know little or nothing about blockchain

Although financial services firms tended to be early adopters of blockchain technology due to the natural alignment of their products with cryptocurrencies, other industries are aggressively entering the space.

This blueprint will walk you through the following steps:
Gain a better understanding of blockchain to focus on what is essential for you to navigate through the hype.
Identify whether DLT is a more suitable fit for your database requirements.
Brainstorm potential use cases for blockchain at your organization.
Build an executive presentation to articulate the value of blockchain to key business stakeholders.

The blueprint includes the following tools and templates in addition to the report:
1. Blockchain Glossary (Word)
2. Blockhain Alignment Tool (Excel)
3. Blockchain Alignment Presentation (PowerPoint)

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Follow Info-Tech’s methodology for simplifying an otherwise complex concept. By focusing on its benefits and how they directly relate to a use case, blockchain technology is made easy to understand for business and IT professionals.
Our program will help you understand if blockchain is the optimal solution for your organization by mapping its key benefits (i.e. transparency, integrity, efficiency, and security) to your needs and capabilities.

Situation:

  • Blockchain, the underpinning technology behind bitcoin, is broadcasted as a powerful technology capable of transforming the entire business world.
  • Many companies are racing towards blockchain adoption in hope of achieving first-mover advantage.

Complication:

  • However, most leaders have an ambiguous understanding of blockchain and its benefits, let alone how it impacts their organization.
  • At the same time, with bitcoin drawing most of the media attention, organizations are finding it difficult to translate cryptocurrency usage to business case.

Resolution:

  • Distinguish blockchain from bitcoin by introducing a business-centric definition of blockchain around its unique and competitive technological features. The definition should offer a clear understanding of the key characteristics and benefits that has made blockchain one of the disruptive technologies around.
  • Discover successful blockchain use cases in different industries; business leaders can leverage tangible real-life examples to interpret the impact of blockchain on their own industry.
  • By analyzing the value chain of their business, CIOs can understand stakeholder pain points and craft a blockchain use case around them. Begin the transformation by brainstorming use cases for the organization based on the unique business problems it is facing.
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