Commercializing Blockchain

3Enterprise Blockchain

In this book, I will spend most of the time looking at Enterprise Blockchain technology. This is because the real adoption of Blockchain technology will be through large business and government organizations – organizations which process millions of transactions will be the biggest beneficiaries of Blockchain technology.

Enterprise Blockchain technology can also be known as private and permissioned Blockchain – these two further names give away some of the reasons why we have enterprise Blockchain

Enterprise Blockchain and Trust

Enterprise Blockchain is needed for the same reason as public Blockchain – the world of trust has changed and we live in a ‘trustless’ world (see earlier chapter for more on trust and Blockchain technology).

Enterprise organizations are complex and global – they span many divisions, teams, and entities internally AND they span many different external partners and organizations.

An enterprise network spans a significant number of different ‘parties’, the majority of which do not trust each other. Even inter-company is a trustless world – even though you are part of the same group company, you are still governed and incentivized by different people and leaders.

Outside the internal network, trust is extremely low – even though these organizations are your partners, you still do not fully trust them.

Characteristics of Enterprise Blockchain

There are a number of key characteristics of an enterprise Blockchain organization: ...