Why enterprise blockchain implementations fail
Learn from early adopters, get strategic insights and explore use cases.
Discover how to avoid the most common and costly mistakes in enterprise blockchain implementations.
" By 2021, 90% of current enterprise blockchain platform implementations will require replacement within 18 months to remain competitive, secure and avoid obsolescence. "
— Gartner prediction. Read the full article here
Here's what you will learn:
- Determine what use cases blockchain is suited for
- How to overcome the chronic lack of blockchain-specific talent in the workforce
- The design principles to prioritize during development
- Tips for building a strategic consortium that will last
Enterprises are increasingly seeing the value of blockchain
Executives agree: blockchain is here to stay. Sustained investments in blockchain implementations are now diversifying beyond finance into media, telecommunications, life sciences, health care, and government.
But most current enterprise blockchain implementations will fail
However, given the still relatively nascent stage of the technology, most blockchain implementations still fail. According to Gartner, only 14% make it beyond proof of concept and get to production.
Embracing network effects is key
To unleash the power of network effects uniquely enabled by blockchain enterprise implementations, innovation managers must consider how to:
- align economic incentives
- ensure product-fit for early adopters
- strategically add use cases as the network grows
- leverage governance to effectively evolve and react to changing conditions
The challenge for business leaders, IT leaders and blockchain developers, is to bring to their organization a blockchain implementation that beats the odds. This minibook is meant as a guide for that process.
The potential of blockchain technologies to support coordination and add value in a variety of enterprise use cases – from data validation to data sharing and identity protection - has never been clearer. However, a number of factors have aligned to make the failure rate of enterprise blockchain implementations remains alarmingly high. To avoid becoming another statistic, enterprises should start by coming to grips with the state of the technology, what it can achieve, and what its limitations are. However, even with that knowledge, there are still significant barriers to success. This report will help enterprises understand the full range of barriers and offer solutions to overcome them.