Blockchain customer adoption

Despite all the enthusiasm towards blockchain, we have to keep in mind that it's still an emerging technology. The number of projects is increasing in the last two years. So, it is important to understand the proper way to start a blockchain journey.

Blockchain adoption path

Of course, we have seen some use cases. So, we already have an idea on the possible ways of using it for different business realities. To start, it's better to choose a simple use case. Often customers aim to very difficult use case. But, since it is a new technology, it is important also for them to understand it better and to be aware of all its properties.

So, here's a hierarchy of use cases, from the easier ones, until the most complicated.

A proper journey through blockchain discover could involve the following steps:

  1. Start from a case which involves the need for real-time data useful for auditing, in which data provenance, finality and immutability are important. In this first step, the network is composed only by the customer, so there's still no collaboration among different parties.
  2. The second step could be to add some other participants to the network who shares data. Also some rules about access and updates rights can be set.
  3. A third step could be to introduce an exchange of assets inside the network. These assets could be both financial, physical or just tokens, which could be for example useful for voting systems.
  4. The last step could be to exchange some higher value financial assets and increase the number of participants and the service level requirements.

Blockchain target sectors

Now, let's see what sector could be more interested in starting blockchain projects:

  1. Regulator: national banks could be a good starting point for financial regulator projects. They could sponsor blockchain adoption and extend the project to all other banks.
  2. Industry Group: industry groups need collaboration inside their network to share common information to improve their work organization.
  3. Market Marker: in financial markets, blockchain could be a way to create new services inside the existing business networks.

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