Blockchain – a solution looking for a problem?
Blockchains are traditionally slow at executing transactions. Ironic when you consider the ASX is looking to it as the backbone of its new transaction or trading tool/platform.
Tradelens is a joint venture between IBM and Maersk otherwise the majority are crypto currency applications or derivatives of a crypto currency.
All the language is around the potential of blockchain to be disruptive to industries but I haven’t seen any industry that has been shaken to its core by the deployment of any blockchain technology. The research on the success of implementation of blockchain is full of words like, ‘It is our belief’, ‘it has the potential’, ‘unveiled plans for’, ‘allows the creation of’, ‘aims to provide’. There are many more but you get my drift. The research does not say, ‘we delivered’, ‘it benefits us by/because’, ‘we achieved’. Language matters, particularly if you are looking at investing money into technology solution concepts as opposed to working solutions.
Most of the research is from 2015, 2017 or 2018 and none of the examples cited have actually moved on from then. Here we are at the beginning of 2021 and they still have not made the expected splash. It may be coming and I may be wrong, but I don’t see it yet.
Which makes me remind myself, technology is ALWAYS strategic. While it appears to be tactical in nature, and its deployment certainly is a tactical or implementation effort, at the end of the day any discussion on technology should be at the business strategy level. It should be considered as part of ALL strategic conversations within the business and in EVERY strategy session. It has become my go to, to start every engagement that involves an ERP or other technology as a strategic discussion – never a tactical one.
Not sure of what the distinction means? Then we should chat to make sure we make the importance of that distinction clear for you.
If you or anyone you know is looking to:
- improve the way their business operates;
- improve the way they leverage their current system;
- replace their current system;
then give me a call for a confidential discussion on the best way to achieve this.