In the final video in the mini series “Blockchain Principles” I explain why blockchain is great to use if your company has complex business processes. Many businesses involve complex processes, ones which can be broken down into several subprocesses, which all have their own distinct features but all contribute to achieving the overarching goals of the business. These complex processes often span across multiple entities and boundaries, often becoming time consuming and having an adverse effect on cost effectiveness, reliability and efficiency.
According to survey data from the 2nd Global Enterprise Blockchain Benchmarking Study, one of the key motivations for exploring blockchain is the prospect of increased process efficiency and the associated cost savings. It’s a logical conclusion therefore, that if your business involves complex processes it’s an ideal opportunity for you to employ a blockchain solution.
In the video I provide clear examples of how blockchain simplifies complex business processes, improving efficiency in a number of relevant industries from supply chain management to insurance.
The “Blockchain Principles” mini video series was created to help you to choose the right problem for your blockchain solution. With the clear examples provided in the videos you can be sure to confidently match a blockchain project to the most pertinent issue that your company faces. Of course, this is just the first step on your blockchain journey and there are many other considerations that need to be made after this initial decision. You can find out more by reading our articles on choosing the right blockchain technology and choosing a blockchain development team.
If you still have unanswered questions on how your company can succeed with blockchain, sign up to our monthly webinar 'Principles of Successful Blockchain Deployments' or book a free discovery session with me and we can discuss your specific needs.