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Demystify Blockchain: How Can It Bring Value to Your Organization?

A guide to understanding distributed ledger technology.

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Contributors

  • Blockchain Research Institute
  • PwC Canada
  • Ivey Business School
  • Anonymous contributors

Your Challenge

  • Most leaders have an ambiguous understanding of blockchain and its benefits, let alone how it impacts their organization.
  • At the same time, with bitcoin drawing most of the media attention, organizations are finding it difficult to translate cryptocurrency usage to business case.

Our Advice

Critical Insight

  • Cut through the hype associated with blockchain by focusing on what is relevant to your organization. You have been hearing about blockchain for some time now and want to better understand it. While it is complex, you can beat the learning curve by analyzing its key benefits and purpose. Features such as transparency, efficiency, and security differentiate blockchain from existing technologies and help explain why it has transformative potential.
  • Ensure your use case is actually useful by first determining whether blockchain aligns with your organization. CIOs must take a practical approach to blockchain in order to avoid wasting resources (both time and money) and hurting IT’s image in the eyes of the business. While is easy to get excited and invest in a new technology to help maintain your image as a thought leader, you must ensure that your use case is fully developed prior to doing so.

Impact and Result

  • Follow Info-Tech’s methodology for simplifying an otherwise complex concept. By focusing on its benefits and how they directly relate to a use case, blockchain technology is made easy to understand for business and IT professionals.
  • Our program will help you understand if blockchain is the optimal solution for your organization by mapping its key benefits (i.e. transparency, integrity, efficiency, and security) to your needs and capabilities.
  • Leverage a repeatable framework for brainstorming blockchain use case ideas and communicate your findings to business stakeholders who may otherwise be confused about the transformative potential of blockchain.

Research & Tools

Start here – read the Executive Brief

Read our concise Executive Brief to find out why your organization should care about determining whether blockchain aligns with your organization, review Info-Tech’s methodology, and understand the four ways we can support you in completing this project.

1. What exactly is blockchain?

Understand blockchain’s unique feature, benefits, and business use cases.

2. What can blockchain do for your organization?

Envision blockchain’s transformative potential for your organization by brainstorming and validating a use case.

Guided Implementations

This guided implementation is a five call advisory process.

Guided Implementation #1 - What exactly is blockchain?

Call #1 - Introduce the architecture and benefits of blockchain technology.
Call #2 - Understand how blockchain is applied in different industries to derive value.

Guided Implementation #2 - What can blockchain do for your organization?

Call #1 - Discuss your business’ operating model and associated pain points to brainstorm a use case.
Call #2 - Assess your business architecture to determine whether to advance your use case.
Call #3 - Review the transformative potential of blockchain and what it means to your organization.

Search Code: 85133
Published: January 25, 2018
Last Revised: March 9, 2018