The following is a list of discussion points and activities that IT practitioners should consider and carry out before implementing blockchain technology within their organization:
- Identify business requirements that require provenance, audit ability, or distributed workflows.
- Recognize whether potential use cases can be executed with centralized databases or digital signatures without relying on a blockchain. (One example of a use case that requires blockchain could be an inter-organizational use case where no central organization or regulator exists to take ownership of the database.)
- Envisage the end benefits of implementing blockchain technology.
- Identify legacy workflows and modules that will need to be replaced or augmented.
- Analyze whether the end benefits from replacing the legacy workflow outweigh the costs.
- Identify...
