The world’s first blockchain was introduced a decade ago. Since then, the adoption of blockchain technology has occurred at snail’s pace. E-Crypto News spoke to some experts, including MarketOrders, about the best blockchain adoption strategies.
Our COO, Sukhi Jutla, said: “Here are my top tips on creating a blockchain strategy:
1. Ensure there is a shared understanding of blockchain within your business and team who will execute the project so they have an understanding of how the technology works. Know what it can do and it’s limitations. This will also help to get management buy-in and support from stakeholders.
2. Define the problem – you don’t want to be boiling the ocean as results will be difficult to quantity. Instead, take time to identify a specific business area or process where you think blockchain could create benefits such as increases efficiently or better transactional performance.
3. Build a Minimal viable product – prototype your idea using minimum resources and in a short time frame. This will allow you to build something fast and not waste months on something that may fail. This MVP will also help to identify if you have created the right solution to the right problem.
4. Identify where you may have a skills gap in your team and recruit the right skill set to help you build your solution.
5. Once you have a solution that works you can then start to think about scaling this to other areas of your business.”
Read the article here.