Considerations for a successful blockchain pilot
What: “Developing winning blockchain applications in the public sector,” a report from the Deloitte Center for Government Insights
Why: As more government agencies look to explore blockchain’s potential, there are some key things officials should discuss before embarking on a pilot or proof of concept.
Findings: Before beginning to develop a blockchain application, it is necessary to evaluate the business problem that is being addressed. Each pilot should have shared data, multiple writers, low trust, immutability, opportunities for disintermediation and transaction interactions as components of the blockchain pilot. The report uses the reconciliation and reporting of intergovernmental transactions as use case for a blockchain pilot.
When exploring readiness for a blockchain pilot, the report outlines six factors for success:
- The consortium: Who should be involved?
- Operations: How does it all fit together?
- Business impacts: How will people and processes across the ecosystem be affected?
- Talent: Do we have the right people?
- Compliance: Are we compliant with the current and future regulatory environment?
- Technology: High-level and tactical decisions for implementation
Verbatim: “Blockchain offers government organizations an opportunity for true collaboration and transformation. Small, wisely chosen implementations could give agencies a chance to define solid blockchain implementations, address common issues, and deepen connections with other members of their consortia.”
Read the full report here.