Raise your hand, mentally, if you struggle to understand why Blockchain is always part of the talk of the technology town but you’re still unclear on what it means to your business. And in spite of countless pilots (Retail – Carrefour Quality Line Auvergne chickens, Logistics, Finance, Insurance, Commerce) across countries and industries where POCs and business cases are shared, there’s still discomfort when it comes to knowing why blockchain is right, compared to what you have now.
And practical questions like how much does this cost? What will it take? How does the business gain alignment? And what actually is it… are reasonable ones to still have.
Well here’s the answer to a few of your questions:
What is it actually? A shared view of a series of data which empowers collaboration and exchange of value.
Why is this good? It ensures complete security, transparency and generates trust between those with access to these data, much quicker and with more accuracy than before.
Why is it different to what we have used until now? We have to rely on institutions or sheer faith to trust in the data that is shared between parties. Before you trust institutions. With blockchain you can trust the data.
What is next? The legitimate expectation is that Blockchain will transform how consumers buy and will disrupt how companies do business, both with each other and how they transform markets and marketplaces.
But whilst all of this makes sense, it’s still unclear what this actually means. It’s all ‘what if’ rather than ‘so what?, how? and when?’ It’s therefore not a surprise that leaders across industries are piloting the technology across functions in order to feel their way into the opportunities and technological solutions.
One of them was Heineken. In a Portera-led one-day Meetup, an inspirational team of Heineken leaders learned what blockchain is in a way all functions can fully comprehend. They then explored the implementation possibilities of the technology, looked deeply into current applications and learnings, and then identified clear next steps for action. This may sound a lot, and it is, but it is just the latest in a series of MNC blockchain events that Portera have been running.
With our Business Issue Mapping Framework, during the day, we identify and create a clear action plan for each initiative to move forward.
Understanding and building a Blockchain plan for your business is an important journey all organisations should be undertaking. Forming the right approach, test and learn the right way, and building the right capabilities are vital for companies today to be prepared for tomorrow.
For any conversation, please shout out.