Blockchain in business: these are the key challenges and opportunities
Blockchain reverses the economy. At least their supporters believe that. What exactly could the decentralized technology actually change?
As diverse as artist compensation in the music industry, supply chains of food, travel reservations or simple money transfers abroad: Everything is conceivable on blockchain basis and partially tested in pilot projects already. Finance, insurance, commerce, logistics, tourism - is Blockchain shaking the infrastructure of the economy as a whole?
The economy expects the blockchain technology to increase efficiency and reduce bureaucracy. According to the Yougov study "Potential Analysis Blockchain", 47 percent of German companies consider the use of blockchain technologies, 21 percent are working on prototypes. However, only seven percent of specialists and executives currently believe that the technology is ready for the market and ready for use.
For the first pilot projects in the economy, mostly so-called private blockchains are used - ie blockchains operated specifically for the operation of an application case. Unlike open blockchains such as Ethereum or Bitcoin, in private blockchains, companies or individuals who are not involved in the process do not have access to the stored data.
In addition to the lack of regulation and the challenge in terms of data security, the reservations in the economy are high for another reason: setting up a blockchain for a customer is not a classic project - you have to involve all involved partner companies right from the start. "It's all about a changed mindset and a cultural change in how one lives processes," says Sebastian Steger, Blockchain expert at Roland Berger. Open business models with customers and partners would first have to emerge and be wanted.
To unlock the potential of Blockchain in this more open direction without fully opening itself, companies are joining forces to form consortia. Under the title Hyperledger, for example, the Linux Foundation drives the further development of blockchain technologies specifically for the enterprise segment on an open-source basis - with the participation of numerous companies such as SAP, Daimler, IBM and Intel. Especially for the insurance sector there is the B3i consortium with representatives such as Allianz and Generali. In addition, it has formed its own Enterprise Ethereum Alliance, focusing on enterprise applications on the Ethereum Blockchain. Members here include well-known companies such as Microso and Cisco, but also startups and not least the Ethereum Foundation itself.
As diverse as artist compensation in the music industry, supply chains of food, travel reservations or simple money transfers abroad: Everything is conceivable on blockchain basis and partially tested in pilot projects already. Finance, insurance, commerce, logistics, tourism - is Blockchain shaking the infrastructure of the economy as a whole?
The economy expects the blockchain technology to increase efficiency and reduce bureaucracy. According to the Yougov study "Potential Analysis Blockchain", 47 percent of German companies consider the use of blockchain technologies, 21 percent are working on prototypes. However, only seven percent of specialists and executives currently believe that the technology is ready for the market and ready for use.
For the first pilot projects in the economy, mostly so-called private blockchains are used - ie blockchains operated specifically for the operation of an application case. Unlike open blockchains such as Ethereum or Bitcoin, in private blockchains, companies or individuals who are not involved in the process do not have access to the stored data.
Open business models are in demand
In addition to the lack of regulation and the challenge in terms of data security, the reservations in the economy are high for another reason: setting up a blockchain for a customer is not a classic project - you have to involve all involved partner companies right from the start. "It's all about a changed mindset and a cultural change in how one lives processes," says Sebastian Steger, Blockchain expert at Roland Berger. Open business models with customers and partners would first have to emerge and be wanted.
To unlock the potential of Blockchain in this more open direction without fully opening itself, companies are joining forces to form consortia. Under the title Hyperledger, for example, the Linux Foundation drives the further development of blockchain technologies specifically for the enterprise segment on an open-source basis - with the participation of numerous companies such as SAP, Daimler, IBM and Intel. Especially for the insurance sector there is the B3i consortium with representatives such as Allianz and Generali. In addition, it has formed its own Enterprise Ethereum Alliance, focusing on enterprise applications on the Ethereum Blockchain. Members here include well-known companies such as Microso and Cisco, but also startups and not least the Ethereum Foundation itself.
Post a Comment