- The transportation and logistics industry is facing a set of inherent flaws, such as high processing fees, fraudulent information, and lack of transparency, that blockchain is set to transform and alleviate.
- Many companies have FOMO (fear of missing out), causing them to rush toward blockchain adoption without first identifying the optimal use case.
- Understand how blockchain can alleviate your pain points before rushing to adopt the technology. You have been hearing about blockchain for some time now and are feeling pressured to adopt it. Moreover, the series of issues hindering the transportation and logistics industry, such as the lack of transparency, poor cash flow management, and high processing fees, are frustrating business leaders and thereby adding additional pressure on CIOs to adopt the technology. While blockchain is complex, you should focus on its key features of transparency, integrity, efficiency, and security to identify how it can help your organization.
- Ensure your use case is actually useful and can be valuable to your organization by selecting a business idea that is viable, feasible, and desirable. Applying design thinking tactics to your evaluation process provides a practical approach that will help you avoid wasting resources (both time and money) and hurting IT’s image in the eyes of the business. While it 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
- Understand blockchain’s transformative potential for the transportation and logistics industry by breaking down how its key benefits can alleviate inherent industry flaws.
- Identify business processes and stakeholders that could benefit from blockchain.
- Build and evaluate an inventory of use cases to determine where blockchain could have the greatest impact on your organization.
- Articulate the value and organizational fit of your proposed use case to the business to gain their buy-in and support.
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