I recall having a client who wanted to "just implement blockchain" throughout their whole organization. You could feel their excitement - within the first few hours of discussion, the confusion had set in. The problem wasn't technology; it was clarity. If the relevant goals weren't defined, if there wasn't a thought out integration plan, or an understanding of how the platform worked, there wouldn't be value, even with that specific scope in mind, on a particular product like a decentralized app or an enterprise smart contract. Over the years, I have come to realize that the most important part of this engagement is the guided decision at the start. These decisions are the beginning of leading the company in a positive direction for successful adoption.
Why Companies Have Problems with Blockchain Implementation?
My experience has shown me that the problems typically do not lie in the technology, but with the strategy. Companies will often say, "What platform do we use?" , or "How will this fit with our current applications?" These are legitimate concerns , and part of the growing pains. Choosing a wrong platform, or thinking you can move fast at deployment by trying to tackle it all at once can cause wasted effort and result in a delayed adoption.
The main hurdles are:
- Lack of clarity on their business objectives
- Uncertainty on how to implement smart contracts
- Issues with legacy systems integration, and
- Concerns about security and scalability with decentralized apps.
Overcoming these obstacles requires more than just skill in development, it requires direction from an enterprise blockchain development company that can provide viable and scalable implementations. The following is an overview of Sui Blockchain that helps explain how Web3 adoption can speed up enterprise projects.
The Benefit of a Strategic Partner
A strategic partner has two main benefits. One is the technical expertise to make sure your project is founded with the right architecture and platforms. The other and often the most important is strategic guidance. Experienced consultants will help organizations:
- Identify goals and KPIs for blockchain adoption.
- Launch phase plans with proofs-of-concept/pilot projects.
- Achieve interoperability with existing enterprise systems.
- Promote security and compliance that limits risk from the beginning.
Combining technology and strategy allows organizations to engage enterprise blockchain solutions for maximum impact with the least risk and drain on resources.
Phased Implementation: A Pragmatic Method
One of the most successful approaches that I have seen is to divide projects up into phases:
- Proof of Concept (PoC): Validation of technology choices, testing assumptions from an environment that is controlled.
- Pilot Deployment: Expand project scope to a small and live use case, and reveal integration and performance issues much sooner.
- Full Production Deployment: Scale your solutions confidently based on lessons learned from PoC and pilot projects.
This phased approach significantly mitigates risk, and allows teams to iteratively, optimize, and develop the organizations knowledge base over time, as opposed to being blindsided with issues in production.
Security and Scalability Considerations
Security should not be compromised in an enterprise blockchain solution. All applications, whether modeled as smart contracts, decentralized apps, or network interactions, fundamentally need to be able to scale with more and diverse cyber threats. Many of these applications need to be able to scale efficiently as they consider changes and added legal and regulatory compliance; as such, scalability is sprinkled as a primary consideration. While enterprises tend to think more about scalability for improved efficiencies, they can not dismiss the importance of an enterprise's ability to scale from what they build, to grow and scale without sacrificing performance and reliability. A trusted partner will build in all the security and scalability you will need to make an effective blockchain solution right from day one.
Beyond Technology: Driving Business Outcomes
Blockchain technology is not the goal -- getting business results is. With a clear adoption strategy, methodical engagement with the solution, and expert assistance, enterprises can:
- Improve operational efficiency and transparency.
- Develop innovative decentralized applications for their customers and partners.
- Secure their process and data using tamper-proof smart contracts that are automated.
- Become leaders in Web3 adoption.
When enterprises begin on their journey to adopt blockchain technology it is important to understand how all of the pieces of the puzzle from their platform provider, smart contracts, and decentralized apps can come together to help them realize their business goals. Read on to explore platform and smart contract solutions for enterprise blockchain use cases as guidance for you to plan further initiatives.
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