Blockchain technology has been a significant buzzword over the past few years. Towards the end of 2018, many
noticed that it slowly started moving out of the Gartner Hype Cycle phase and into the adoption phase for many
organizations and countries. Blockchain has been around for more than 10 years, and many are still having challenges
with understanding what Blockchain is and why is it so crucial for companies to look at leveraging it.
Unlike previous new innovative technologies, education mostly came on the back end of any implementation. With
Blockchain, it will be imperative to have a good understanding before you move forward with it. Some examples of
that are in Deloitte's 2019 Global Blockchain Survey. In it, they state, fifty-three percent of respondents say that
Blockchain technology has become a critical priority for their organizations in 2019—a 10-point increase over last
beneficial. It may help with understanding why many global enterprise organizations have started preparing to
implement it in various areas of their companies. One important thing to know is that Blockchain should not be used
for everything. Knowing what the best use cases are early will help by saving valuable time in deciding which areas
you might want to leverage it.
One of the significant benefits of grasping what Blockchain can do will be understanding what changes or disruptions
it will bring. Organizations will need to look at what business processes and governance models will need to be
modified or newly implemented to take full advantage of its value. Blockchain has a big learning curve, unlike many
other technologies. The reason being is that it primarily impacts the business side of organizations more than the IT
side. It is something that will take time to fully understand as will its eventual impact on old business models.
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