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How to make the case for blockchain: 5 steps Posted on Jul 09 - 2018

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Do you see a potentially valuable blockchain use case for your organization? Here's how to push past the hype and win organizational support and resources

If you’re soliciting support for an early blockchain pilot test or project in your organization, you’ll need to explain both the underlying technology and how it can help the business.

That’s true for any emerging technology, but this pair of tasks could be particularly tricky for IT leaders who want do a blockchain project. For starters, blockchain is tough to explain and understand, especially for non-technical people. Moreover, the hype surrounding Bitcoin and other cryptocurrencies tends to create some misconceptions about the fundamental blockchain tech behind those digital currencies.

We’re still in the very early days in terms of corporate blockchain adoption. Companies and industries such as finance and healthcare are experimenting, sure, and there are some promising use cases. But there are also good reasons to not implement blockchain, such as when a traditional database will serve your requirements just as well.

So, if you think there’s a potentially valuable use case for your company, some evangelism will be necessary to get the proper resources and organizational support. What’s the right approach? It’ll be organization-specific, but making a convincing case for a blockchain project has some common denominators. Consider these five strategies:

1. Blockchain is not Bitcoin

For starters, completely separate blockchain from Bitcoin and other digital currencies.

“The key is to divorce the innovation of blockchain and its value to enterprise from the headlines people may have seen about Bitcoin speculation or cryptocurrency scams,” says Wes Levitt, head of strategy at Theta Labs, makers of a decentralized, blockchain-powered video delivery network, Theta Token.

Many major corporations are tinkering with blockchain applications, Levitt says: Making the case for one should include the fundamental understanding that this doesn’t have to involve selling a publicly traded cryptocurrency.

That might sound obvious to early adopters and other blockchain enthusiasts, but it’s the kind of common misunderstanding that makes other people pump the brakes. View More

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