10How to Commercialize Blockchain/Reach Its Potential
We have looked at the foundation of Blockchain technology, some use cases, and best practice around Blockchain technology. In this chapter we will look at how you use Blockchain technology to its fullest.
Blockchain Is a Network Play
The biggest way to reach a successful Blockchain transformation is to remember that this is not a one entity issue. Blockchain inherently is a decentralized network – with network meaning lots of other parties and entities involved.
Many people talk about the Blockchain ecosystem and I think this is a great way to look at this. ‘You cannot Blockchain alone’ may sound comical, but it is true – a Blockchain network is an ecosystem of interrelated, but separate, parties. These could be suppliers, partners, customers, governments, etc., but they are all separate entities, which we are using Blockchain technology to connect and interact with on a trusted basis.
The benefits will only come from working together with all these entities. The mindset is to build solutions together, not separately, and you will gain the biggest benefits. If you include all the ecosystem, and work with all parties in the ecosystem, you will ensure that you are part of the future of Blockchain technology benefits.
We live in a world of ‘platform economy’, where much of the technology is cloud based and usage is based on taking the modules or elements that fit your business needs. Blockchain technology is no different. ...
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