What do you do if your stakeholders and clients have unrealistic expectations in Blockchain?

1. Align on expectations with stakeholders / clients 2. One technology is not the solution to all problems. Educate stakeholders on where to use blockchain 3. Build solution incrementally to get clarity on blockchain based solution benefits

Blockchain is not magic. It is an infrastructure stack that is dependant on demand and supply dynamics as well as market sentiment. Blockchain has the potential to really change the world in terms of decentralizing monopolized systems and bringing back the ownership of assets back to people. But it's not magic, it still needs experienced, intelligent and tech savvy people to build out the infrastructure and quality projects, which will become the threshold for future use cases. So far, blockchain is still in its infancy stages and we still need more professionals and better infrastructure for it to compete with traditional technology. Be safe, do your own research, and take all the buzzwords and promises with a grain of salt.

Share relevant success stories and use cases from the industry to illustrate the potential value and impact of blockchain. Highlight examples where blockchain has been successfully implemented and the benefits it has brought to organizations. This can help stakeholders and clients understand the realistic potential of blockchain in their specific context.

The internet is about 50 years old, it started to get popular in the late 90s and into everyday lives in the 2000s. Blockchain is around 14 years old, and the technology is still at the technical level so learning about it will require a deep dive into technical details. Make sure you know the drawbacks of blockchain and when it's not a good technology to apply.

Well....When facing unrealistic expectations from stakeholders & clients in Blockchain, it's crucial to communicate openly and set realistic goals. Educate them on the technology's capabilities and limitations, managing expectations to align with what's achievable. Transparency fosters trust and collaboration, ensuring a smoother journey towards successful outcomes. Remember, patience, clarity, and a dash of creativity can often bridge the gap between expectation and reality. ???????

When clients or stakeholders set unrealistic expectations, it can be a way for them to create a buffer between their initial wish list and the realistic deliverables. Discuss the project openly from the start. Explain blockchain's capabilities and limitations clearly, highlighting areas where it excels and where traditional solutions might be a better fit. Back up your explanations with data and case studies. Show clients realistic examples of what blockchain can achieve in similar projects.

When setting goals, I remember to use the SMART method. SMART stands for Specific, Measurable, Achievable, Realistic and Time-bound. Specific: Goals should be clear and well-defined. Measurable: Goals should be quantifiable so that progress can be tracked. Achievable: Goals should be realistic and attainable given available resources and constraints. Relevant: Goals should align with your the overall objectives. Time-bound: Goals should have a clear timeframe for completion.

Clearly communicate the potential risks, challenges, and uncertainties associated with blockchain implementation. Develop strategies to mitigate those risks and provide contingency plans. This helps stakeholders and clients understand the complexity of the endeavor and prepares them for potential setbacks.

I believe that before onboarding any project of Blockchain it's very important to analyse the use case as I found in many cases Blockchain is not a solution to the problem or the process but it has adopted for the name shake. Most of the clients don't come with a technical background especially at the product development or ideation phase. It's a solution provider or consultant's job to educate them regarding Blockchain to set the clear expectations of outcome.

To manage realistic expectations of blockchain technology, the following steps should be taken: Educate stakeholders, maintain open communication, set realistic goals, provide examples, involve experts, adopt an iterative approach, ensure continuous communication, clearly state the limitations of the technology, emphasize its benefits, and explore alternative approaches.

Emphasize on continuous improvement is very import. Highlight that blockchain technology is still evolving, and advancements are being made continuously. Emphasize that learning and iterating on the implementation are crucial for success. Promote a mindset of continuous improvement and adaptation.