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White paper: First on the block with blockchain

Learn from early blockchain business networks.


Johannesburg, 08 Mar 2018
White paper: First on the block.
White paper: First on the block.

From concept to commercialisation

Blockchain technology has the potential to redefine enterprises, ecosystems and economies. 2017 has seen an abundance of blockchain network pilots across industries, demonstrating that the value of blockchain can be realised only when it spans ecosystems. Sixty-six percent of organisations already active on blockchain are experimenting with a business model that connects people, resources and organisations in an ecosystem.1 However, as many organisations are learning, connecting multiple entities across multiple processes is as much a business challenge as it is a test of the technology implementation.

Design to simplify

Leading organisations that have taken the plunge and moved beyond proofs of concept to real world proofs of business value can provide the best guidance. As executives from these organisations scope their first blockchain projects, they often express surprise at the complexities and time involved to get to maturity. IBM has set up over 20 active networks.

Its experience shows it's important to start small, identify the objectives for the network and take regulatory challenges into account. Organisations should consider taking an iterative approach grounded in design thinking that focuses on user needs and encourages collaboration across diverse teams with both business and technology expertise.

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