I Want a Blockchain! Do you really need a blockchain? Asking yourself this very important question can lead you on the right path to an answer and before embarking on a blockchain for business journey You have to get through with this.
When Not to Use Blockchain
Blockchain is a revolutionary technology but it is not always the right tool for the job at hand. If you are contemplating using blockchain technology, be sure to evaluate the problem fully and reach a conclusion that what business problem you are going to solve through blockchain technology.
The following conditions are not currently well suited to blockchain-based solutions (reference Edx course on Blockchain):
- The process involves confidential data
- The process stores a lot of static data, or the data is quite large
- Rules of transactions change frequently
- The use of external services to gather/store data
- In this session we have covered the following topics:
This session is in continuation of our previous session Basics of Blockchain. In this session of the podcast we are going to cover:
You’ll Learn:
- When not to use Blockchain
- When to use Blockchain
- Decision Tree/Model/Framework – when do you need Blockchain?
Blockchain Resources:
- Do You Need a Blockchain?
- Blockchain Beyond the Hype A Practical Framework for Business Leaders
- 11 questions will help you decide if blockchain is right for your business
- Mapping Global Transformations by World Economic Forum – Bockchain
- Medium article When do you need blockchain? Decision models
Now we are going to cover here different Decision Trees/Models to decide on Blockchain Technology:
These 11 questions will help you decide if blockchain is right for your business
Source: World Economic Forum
Birch-Brown-Parulava model
Suichies Model:
Lewis model
Sebastien Meunier model
DHS Model
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