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Challenges of Blockchain Technology for the Enterprise
The document outlines key points about blockchain technology for enterprises, including its benefits, challenges, and current adoption rates. It highlights use cases by major companies like Walmart and Maersk, as well as common pitfalls and barriers to implementation such as regulatory issues and lack of talent. Additionally, it provides guidance on assessing blockchain's applicability in organizations and prompts engagement with the Chainstack platform for solutions.
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Challenges of Blockchain Technology for the Enterprise
- 1. SESSION ID: #RSAC Eugene Aseev CHALLENGESOF BLOCKCHAIN TECHNOLOGY FOR THE ENTERPRISE SEM-W02 CTO Chainstack @toxzique
- 2. #RSAC Outline 2 1. Why Blockchain? 2.The Technology 3. Current Adoption 4. Challenges 5. Solutions
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- 4. #RSAC Enterprise Blockchain UseCases 4 https://azure.microsoft.com/en-us/blog/accelerating-the-adoption-of-enterprise-blockchain/
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- 7. #RSAC Do You Needa Blockchain? 7 https://eprint.iacr.org/2017/375.pdf
- 8. #RSAC Permissionless vs. PermissionedBlockchain 8 https://www.slideshare.net/Nitishsharma77/blockchain-73134967
- 9. #RSAC Permissionless vs. PermissionedBlockchain 9 https://medium.com/@YacineGhalim/why-we-should-drop-the-whole-bitcoin-vs-blockchain-discussion-e3e38e9a5104
- 10. #RSAC Private Blockchain Advantages 10 Exposurecontrol Transaction censorship Membership restriction Permissioning on various levels Flexible administration Choosing the environment Adding or removing members and nodes Managing permissions Controlling maintenance
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- 12. #RSAC Enterprise Blockchain Alliancesand Consortia 12
- 13. #RSAC Current Enterprise BlockchainAdoption 13 https://www.slideshare.net/HfSResearch/hfs-webinar-the-20-most-promising-usecases-of-enterprise-blockchain-adoption
- 14. #RSAC Enterprise Blockchain AdoptionPlans 14 https://www.gartner.com/newsroom/id/3873790
- 15. #RSAC What Early AdoptersSay 15 “Among 293 CIOs of organizations that are in short-term planning or have already invested in blockchain initiatives, 23 percent of CIOs said that blockchain requires the most new skills to implement of any technology area, while 18 percent said that blockchain skills are the most difficult to find. A further 14 percent indicated that blockchain requires the greatest change in the culture of the IT department, and 13 percent believed that the structure of the IT department had to change in order to implement blockchain.” https://www.gartner.com/newsroom/id/3873790
- 16. #RSAC Top 10 Pitfalls 16 1.Misunderstanding or ignoring the purpose of blockchain technology 2. Assuming that current technology is ready for production use 3. Confusing future blockchain technology with the present-day generation 4. Confusing a limited, foundation-level protocol with a complete business solution 5. Viewing blockchain technology purely as a database or storage mechanism 6. Assuming interoperability among platforms that don’t exist yet 7. Assuming that today’s leading platforms will still be dominant (or even extant) tomorrow 8. Assuming that smart contract technology is a solved problem 9. Ignoring funding and governance issues for a peer-to-peer distributed network 10. Failure to incorporate a learning process https://www.gartner.com/smarterwithgartner/top-10-mistakes-in-enterprise-blockchain-projects/
- 17. #RSAC Enterprise Blockchain AdoptionChallenges 17 Organizational • Internal stakeholder buy-in • Network governance • Adoption by network participants • Lack of talent • Regulation Economic • Incentives for network participants • Cost of new IT, implementation and integration • Quantifying the ROI Technological • Maturity • Performance • Interoperability • Privacy • Manageability • Ease of integration • Supportability
- 18. #RSAC Existing Blockchain SolutionProviders 18
- 19. #RSAC Issues of BlockchainSolution Providers 19 Protocol, cloud and vendor lock-in Arbitrary pricing Not truly decentralized Not friendly to blockchain ecosystem Not interoperable Still complicated to build applications
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- 21. #RSAC Apply What YouHave Learned Today 21 Next week you should: Attempt to find the problems within your organization (or in your industry vertical at large) related to lack of transparency, expensive or slow value transaction, excessive paperwork In the first three months following this presentation you should: Read about blockchain and understand whether it is the right technology to fix these problems Within six months you should: If blockchain is the right approach, talk to me and we will build a solution :)
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