Blockchain - How CIOs Find the Right Use Case

February 14, 2019

Blockchain holds huge potential, but CIOs first need clarity on the right use case. A proven four-step approach helps organisations decide where blockchain truly adds value.

I share this because blockchain is more than a hype technology – it becomes impactful when organisations match it with the right use case and follow a clear path to adoption.

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.

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 CIO.de (German): Blockchain - So finden CIOs den richtigen Use Case