Blockchain Proof of Concept Stage

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Most of what is written today about Blockchain technology is theoretical. What could potentially happen with blockchain and how disruptive it will be. 

There are articles after articles on how blockchain will disrupt X industry and change everything. Finance, supply chains, contracts, or venture capital, nothing is safe from blockchain's disruptive force. 

Let me know tell this is a lot of hype. Not to say it isn't true but hyped what too fast. This is the environment we live in now where something can go viral immediately. 

Hype is good thing when it comes to technology particularly. This is mainly how so much money gets poured into new projects and companies. The hype train brings in money so the infrastructure can be laid out today for a better tomorrow. 

Blockchain is not going anywhere. In the US we have a fairly good banking system and things generally work well. However, for many in the world their infrastructure is terrible. 

A basic thing such as keeping your money with you is not possible. Governments and banks hold all the cards. Extremely inflation in certain countries make the Bitcoin volatility look like a kids seesaw. 

Proof Of Concept

What most companies should be doing though is to start dipping their toes into blockchain. Start with a proof of concept (POC) and see what results you get from these tests. Maybe a smart contract can streamline the supply chain better and reduce costs by 15%. Then make bigger investments into a more wide spread architecture. 

There is not also a strong need to build out a full blockchain group internally. Use outside resources and freelance developers to build POCs. 

Test. Iterate. Test. Iterate. Look for areas to double down on. Then full steam ahead. 

Cheers,

Fahad