Recap: Overcoming the Hype to Blockchain Adoption
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Recap: Overcoming the Hype to Blockchain Adoption

Yesterday, we held a webinar where we discussed the state of Blockchain and how technology professionals should approach the nascent technology beyond the buzzword. Led by Naveen Sachdeva, Perficient’s solution director and blockchain practice lead, the webinar attracted over 600 attendees.

Here were some of the highlights:

Defining Blockchain

Many including the general public still don’t have an understanding of what blockchain is, often times confusing the technology with the cryptocurrencies commonly associated. In short, blockchain is a replicated, distributed ledger of transactions with entries referencing other data stores. In legal and business terms, this definition expands to include the parties involved.

Our tweets:

Blockchain Use Cases

At the heart of any technology adoption is the considerations for use cases. Given that the heart of blockchain involves transparency, communications, and records keeping, it’s no surprise that organizations from finance to healthcare to supply chain are exploring their options. Some of our customers whom we’ve been working with over the past few months have already seen blockchain benefits:

Blockchain even provides peace of mind in unexpected industries including business process management (BPM) use cases, where organizations can employ improved asset management.

Getting Started with Blockchain

With all noted popularity of blockchain, the next step is discovering how to get started. Like every technology, the key is to identify a scalable use case that the organization can pilot. Our tweets explain the step by step process and what makes a good use case:

With research firm IDC predicting blockchain spending to grow to $9.7 billion in 2021 and leveraging use cases in post-trade tracking, shipment management, and records compliance, the potential for innovation is high.

Going From Here

Blockchain interest will continue to grow in the months ahead and promises to change how organizations conduct business. If you have any questions about blockchain, check out our practice page here or stay tuned for more blogs.

 

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