Blockchain – How CIOs Find the Right Use Case

Blockchain technologies offer businesses tremendous potential. But many decision makers are faced with the problem of finding the right use case. In the field, a four-step approach has proven its effectiveness.

Blockchain – Finding the Right Use Case

The big hype about the crypto currency Bitcoin seems to be over, but the underlying Blockchain technology is still at the beginning of its career. In principle, the Blockchain enables unchangeable and forgery-proof data storage. This allows transactions to be carried out in a trustworthy manner, even without the business partners knowing each other. Not even a certification or the involvement of a third party is necessary.

In addition, it does not matter what type of transaction it is – whether money transfer, purchase of goods or order from a supplier. The only prerequisites are that the processes must be completely digital and that all participants have access to a common Blockchain. This ensures that the transactions are binding and traceable.

Companies that are already thinking about how they can benefit from the advantages of Blockchain technology must above all identify suitable deployment scenarios. The following four steps will help.

Read more on the article at (German): Blockchain – So finden CIOs den richtigen Use Case