3 Tips to get the Blockchain Ball Rolling

Brian Dupperrouzel
Vice President, New York Office

Blockchain technology has generated buzz in the technology and financial services industries, but short of sponsoring a Pokemon Go stop, it will take awhile before main street feels the impact of any solutions.  If you are not familiar with blockchain, this article published by McKinsey featuring an interview with Don Tapscott is a good overview and features some of the lofty expectations. A few of my favorite high bar setting quotes in this interview are:

"... revolutionize the world economy"

"... the biggest innovation in computer science"

Marc Andreessen, famed Netscape co-founder and venture capitalist, authored a 2014 article that I recommend reading, which had another memorable quote, “the consequences of this breakthrough are hard to overstate". Well Marc, people took your challenge seriously and are trying their best to overstate the consequences. Balancing out the hype discussion are the folks at Coin Desk with an interesting piece on “Peak Blockchain Hype”.

How do you navigate around the hype and actually get your business to take the first step?

The problem with hype is that it has an unusual way of having people react and form opinions before they are fully educated. Let’s imagine you are not in technology or financial services, where this discussion is a lot easier, and believe Blockchain technologies could have a meaningful impact on your business. How do you approach your business and technology partners without receiving skeptical snarks or blank stares of confusion? Or worse, your colleagues have heard of Bitcoin, but because they have no personal need for a crypto currency, and may even associate it with shadowy black market activity or currency speculation, they are starting with negative perceptions.

Tip #1:  Don’t mention Bitcoin. 

The use cases for blockchain in many industries will not center around cyber currency. Look to educate others on smart contracts, digital identity and records management, and asset exchanges. In reality, Bitcoin’s platform may still be used, or you may choose another platform, like Ethereum, but that is an implementation detail and best to focus on the business need first.

Tip #2: Align your solution to a strategic goal of the company.

Did the CEO just announce that she is looking to reduce $200M from operating costs by next fiscal year? Or did she outline a vision for 50% of your revenue to come through digital channels? Give your business partners examples of how a blockchain solution can enable those goals. For example, smart contracts could be a great way to reduce operational costs and open up your business to a new customer base.

Tip #3:  Look for lurking disruptors.  

Like those adorable Pokemon creatures, startups can be lured out of the wild by industries that produce healthy margins and have low customer satisfaction. With over $1B in venture capital funding fueling blockchain, there may be a startup looking to dis-intermediate your company from its customers. If this doesn’t peak your business leader’s curiosity, it may be time to start networking for self-preservations sake.

If your business partners are interested at this point, my advice would be to start with envisioning workshops and planning sessions, and then quickly shift into building proof of concepts on a thin slice of use cases. If you believe the hype, then strap in for a long term view and focus on capability building first.   Avoid placing too many of your eggs in early solution incubation jars. Your initial ideas may not get past the proof of concept stage, but like our Pokemon friends, your ideas will power up and evolve, and the capability that your company builds will enable delivery of future solutions at increased velocities.

Brian Dupperrouzel

About the Author

Mr. Duperrouzel is a Vice President in New York and brings strong technology services experience and leadership to the Pariveda Solutions New York Management Team. He has spent his career analyzing business problems, architecting and designing technology solutions, and implementing those solutions for clients.

More Perspectives

Perspective
by Bruce Ballengee
Teaching Roots Run Deep
Perspective
by Kent Norman and Kevin Moormann
I’ll be Home in Five Story-points
Perspective
By Russell Clarkson
Is your Ecosystem a pipeline or a platform?
Perspective
by Dimitrios Vilaetis
Business Capabilities: a Spotlight for Strategic Decision Making
Perspective
by Russell Clarkson
Mark Your Exits
Perspective
by Bruce Ballengee
Leadership and Company Culture
Perspective
by Kerry Stover
I Know You Believe You Understood What You Think I Said
Perspective
by Brian Duperrouzel
How to Handle Management Kidnapping
Perspective
By Russell Clarkson
What Chuck Yeager Taught Me About Disruption
Perspective
by Brian Duperrouzel
Lessons on Project and Team Management
Perspective
by Bruce Ballengee
Consulting that Focuses on the Individual
Perspective
By Bruce Ballengee
Developing the Individual
Perspective
by Lori Dipprey
Why Performance Reviews are Here to Stay at Pariveda
Perspective
By Nathan Hanks
What it Means to be "in the People Business"
Perspective
By Bruce Ballengee
Pariveda Fin-Centric Design
Perspective
By Bruce Ballengee
Unleashing the Power of Humility
Perspective
By Mike Strange
4 Reasons to Leverage the Power of Small Teams
Perspective
By David Watson
The Benefits of Working in Teams
Perspective
by Sean McCall
Forget Coffee- Energize Your Work Morning
Perspective
By Allison Esenkova
Wearing Heels to the Top
Perspective
by David Watson
Work-Life Balance
Perspective
by Allison Esenkova
Listen to the Still Small Voice
Perspective
By Kerry Stover
Must Read Books from the COO
Perspective
By Russell Clarkson
Why You Should take a Massive Open Online Course
Perspective
By Scott Hajer
The Importance of Making Space to Think
Perspective
by Sean McCall
4 Ways Sports Can Benefit Careers
Perspective
By Russell Clarkson
Stand Up for Good Presentations
Perspective
by Derrick Bowen
How Much of your Project Value is At Risk Due to Cognitive Bias
Perspective
by Susan Paul
Capabilities as Building Blocks
Perspective
By Susan Paul
When Corporate Culture Undermines IT Success
Perspective
by Kent Norman
Limit, to Win It
Perspective
By Brian Duperrouzel
The Case for Onshore Technology Teams
Perspective
By Tim Hurst
Unlocking Marketing ROI Analytics
Perspective
by Brian Duperrouzel
Hippos and Cows are Stopping Your Machine Learning Projects
Perspective
By Jack Warner
Building Smart Deployment Pipeline
Perspective
By Tom Cunningham
The Sound of the Future
Perspective
By Scott Hajer
You Need Only One Kind of Recruiting Technology
Point of View
by Ansley Galjour
Continuous Brand Engagement
Perspective
By Marc Helberg
3 Ways You Can Begin to Take Patient Experience More Seriously
Perspective
By Ryan Gross
What Does It Really Mean to Operationalize a Predictive Model
Perspective
by Sophie Zugnoni
Did You Catch Machine Learning Fever?
Perspective
By Collins DeLoach
What does Cloud Transformation mean it IT?
Perspective
By Mike Strange
Untangling and Understanding DevOps
Perspective
by Clayton Rothschild
Blockchain in an Enterprise Setting
Perspective
by Mike Strange
DevOps a Practical Framework for Technology Process and Organizational Change
Perspective
by Julio Santos - Finity Member
Context as Currency
Perspective
by Oussama Housini
Why DevOps?
Perspective
by Dave Winterhalter
Data in the Dugout
Perspective
by Brian Duperrouzell
3 Tips to get the Blockchain Ball Rolling
Perspective
by Victor Diaz
6 Things to Consider when Choosing a Data Visualization Library
Perspective
By Julio Santos and Jon Landers
How Customer Context and Smarter Algorithms will Power the Next Level of Experiences and Engagement
Perspective
by Mike Strange
Can We Predict the Future?
Perspective
By Brian Duperrouzel
No Estimates, No Approval, No Dice
Perspective
By Marc Helberg
How AI Will Affect Your Patient’s Experience
Perspective
By Sean Beard and Brian Orrell
Life After Mobile
Perspective
by Phillip Manwaring
Let Serverless Solve the Tech Problems You Don't Have
Perspective
by Mike Strange
Bigger is Not Necessarily Better
Perspective
By Marc Helberg
Patient Experience – Taking the Next Step Through Machine Learning
Load More