Blockchain — How to Proceed?
It’s inspiring on the same note a very challenging time to be a technology leader in any organisation around the world.
While technology is continuously evolving in a significant step within the business world, and the focus of an enterprise is expanding from information to include innovation as part of the transformative strategic journey.
Blockchain, a decentralised ledger technology is one of these significant steps to consider as organisations around the world transform to survive and compete.
According to Mr Hughes, an analyst for Kuppinger Cole who recently wrote about the benefits of digital business process management with blockchain technology, the emergence of distributed and decentralised ledger technologies with Smart Contracts and the Internet of Things (IoT) will be instrumental in disrupting and revolutionising business process management and business process optimisation.
We at Provena Group believe that the Digital Transformation is apparently one of the more complex challenges an enterprise can undertake. The integration of Blockchain technology with A.I. and IoT makes it even more complicated, but if you get it right, the benefits are plenty.
The key to be successful with blockchain driven digital transformation, it’s not just about making information secure on the distributed ledger technology and making it available digitally using a mobile platform.
The critical question to answer before you embark on such a journey, is how your information is genuinely going to help you:
a.) to make improved decisions,
b.) drive processes efficiencies,
c.) serve your customers faster, cheaper, and build trust,
d.) on the same time improve compliance,
e.) and improve security?
Step-1: The Starting Point The AS-IS — As a starting point, organisations must think about their enterprise information and how it’s managed today.
How it is used and shared enterprise-wide now first and then embark on mapping out what the TO-BE module will look like before applying the benefits of blockchain driven digital transformation to ensure the right fit!
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