Blockchain 6 Installment Series – Part 4 Release!

Overview

The purpose of this series is to provide a open-source practical, step-by-step guide to blockchain technology. We aimed to cover everything you need to know from what blockchain is to techniques for implementing blockchain in your industry.

We will release installments every 3 weeks and our goal with each release is to give you the tools to quickly learn more and dive deeper into the details if you choose.

Across all industries, companies have begun implementing blockchain technology. Our aim is to demystify blockchain and prepare our community for intelligent adoption. When you finish the series, you should know more about the blockchain technology and how it can impact your industry, and some process steps to assist in implementation for your business.

The first release in the series covers “what blockchain is” and “why businesses are so excited about it.” The remainder of the series focuses on implementation.

Part 1.0 Overview

  • Blocks and Chains: A high-level description of underlying technology.
  • Human Biases: Psychological biases encourage us to explore and pursue blockchain opportunities. Should we listen?
  • So What? Why has blockchain caused so many industries to take notice?
  • Know the Risks: A description of the risks associated with blockchain.

Part 2.0 Overview

  • Use Cases by Industry: Understand how different industries and supply chain participants are implementing the technology.
  • Develop the Business Case: What is the rationale for blockchain implementation? Analyze quantitative and qualitative factors to develop the business case.
  • Define the Stakeholder Ecosystem: Developing a blockchain solution requires collaboration with diverse internal and external stakeholders.
  • Confirm Blockchain as the Solution: Conduct stakeholder interviews to determine that the current pain points can be mitigated with a blockchain solution. What are the alternative solutions to blockchain? Confirm blockchain is appropriate for the business problem at hand prior to developing.

Part 3.0 Overview

  • Understand the Importance and Challenges of Defining Requirements: This is the most critical phase in software development.
  • Memorialize and Prioritize Requirements: Create a foundation that will easily translate your wants and needs to your IT team.
  • Set IT Development up for Success: Understand their language (functional/non functional) and process (agile).

Part 4.0 Overview

  • Understanding the Market Landscape: The blockchain industry is fragmented and rapidly evolving, which makes selecting the right platform to build on a difficult task.
  • Selecting the Right Advisor: Selecting the right advisor is more important than selecting the right platform. Advisors help navigate the complex platform landscape to mitigate development risks to your business.
  • Pioneer vs Fast Follower: Given the inherent risks (platform, technology, economics), there is a strong argument to be a fast follower as opposed to a pioneer, unless your blockchain use case meets certain criteria.

Click here to read Part 4 on selecting the right blockchain platform!


LDR is a growth and innovation advisory firm focused on providing advanced problem solving, leadership, and investment acceleration services that help businesses achieve their goals. LDR operates as a conduit between capital providers and invested companies to seize opportunities, develop innovation capabilities, and accelerate operations with the goal of maximizing ROI for all stakeholders.

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