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How do you foster collaboration and innovation with blockchain partners and communities?

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Blockchain is a technology that enables distributed and secure transactions among multiple parties without intermediaries. It has the potential to transform various industries and sectors, such as finance, supply chain, healthcare, and government. However, implementing blockchain solutions is not a simple task. It requires a strategic approach that considers the technical, organizational, and regulatory aspects of the blockchain ecosystem. In this article, we will discuss how to implement blockchain solutions in the context of IT strategy, and how to foster collaboration and innovation with blockchain partners and communities.

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Seamus Birch

Leading organisations to operational excellence, business performance improvement and cost optimisation. Delighting…

1 Assess your business needs and goals

Before you embark on a blockchain project, you need to have a clear understanding of your business needs and goals. What problem are you trying to solve with blockchain? What value proposition does blockchain offer to your customers, stakeholders, and partners? How does blockchain align with your existing IT infrastructure, processes, and policies? How will you measure the success and impact of your blockchain solution? These are some of the questions that you need to answer to define the scope, objectives, and requirements of your blockchain project.

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Seamus Birch

Leading organisations to operational excellence, business performance improvement and cost optimisation. Delighting customers, improving P&L and ensuring enterprise success.
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You need to start with and end-to-end of what you are trying to do, including all the manual, physical, person-2-person, interactions in the process that you don't think about because they have been there forever. How much of that can you drive onto the blockchain?

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2 Choose the right blockchain platform and architecture

Once you have defined your business needs and goals, you need to choose the right blockchain platform and architecture for your project. There are different types of blockchain platforms, such as public, private, hybrid, and consortium, that vary in terms of accessibility, governance, consensus, and scalability. You also need to consider the technical features and capabilities of the blockchain platform, such as smart contracts, tokens, cryptography, and interoperability. You should evaluate the pros and cons of each option and select the one that best suits your project's needs and goals.

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Seamus Birch

Leading organisations to operational excellence, business performance improvement and cost optimisation. Delighting customers, improving P&L and ensuring enterprise success.
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Pick the solution that is "good enough" rather than perceived incremental benefits of the "best." In a rapidly evolving technology, quick, "good enough" decisions are best.

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3 Develop and test your blockchain solution

After you have chosen your blockchain platform and architecture, you need to develop and test your blockchain solution. You should follow the best practices and standards of software development, such as agile, DevOps, and continuous integration and delivery. You should also use the appropriate tools and frameworks for blockchain development, such as programming languages, libraries, APIs, and IDEs. You should test your blockchain solution for functionality, performance, security, and usability, and ensure that it meets the expectations and requirements of your users and stakeholders.

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Seamus Birch

Leading organisations to operational excellence, business performance improvement and cost optimisation. Delighting customers, improving P&L and ensuring enterprise success.
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If you can't spot and remediate the physical and manual activities, or ineffective relationships in your own engineering and operations, you are not really in the right head space for blockchain.

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4 Deploy and manage your blockchain solution

Once you have developed and tested your blockchain solution, you need to deploy and manage it. You should consider the deployment options and strategies for your blockchain solution, such as cloud, on-premise, or hybrid. You should also monitor and maintain your blockchain solution, such as updating the code, fixing the bugs, and enhancing the features. You should also ensure that your blockchain solution complies with the relevant laws and regulations, such as data privacy, security, and auditability.

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5 Collaborate and innovate with blockchain partners and communities

Implementing blockchain solutions is not a solo endeavor. You need to collaborate and innovate with blockchain partners and communities to leverage the benefits and opportunities of the blockchain ecosystem. You should identify and engage with the key players and stakeholders in your blockchain project, such as customers, suppliers, regulators, and industry associations. You should also participate and contribute to the blockchain communities and networks, such as forums, events, and platforms, that share knowledge, insights, and best practices on blockchain development and adoption.

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Seamus Birch

Leading organisations to operational excellence, business performance improvement and cost optimisation. Delighting customers, improving P&L and ensuring enterprise success.
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As with any relatively new technologies, there will be an extremely limited number of people that can do it, and even less that can do it well. Collaboration is thus the only way to get innovation to scale in adoption. You have to start the collaboration internally, if you can't get your own few specialists to work constructively together.. innovation is probably not for you.

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6 Learn and improve from your blockchain experience

Implementing blockchain solutions is a learning process. You should learn and improve from your blockchain experience, and use the feedback and data to optimize and refine your blockchain solution. You should also keep abreast of the latest trends and developments in the blockchain field, and explore new possibilities and use cases for blockchain innovation. You should also evaluate the outcomes and impacts of your blockchain solution, and assess the return on investment and value creation for your business and stakeholders.

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How do you foster collaboration and innovation with blockchain partners and communities?

1

2

3

4

5

6

1 Assess your business needs and goals

2 Choose the right blockchain platform and architecture

3 Develop and test your blockchain solution

4 Deploy and manage your blockchain solution

5 Collaborate and innovate with blockchain partners and communities

6 Learn and improve from your blockchain experience

IT Strategy

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How do you foster collaboration and innovation with blockchain partners and communities?

1

2

3

4

5

6

1 Assess your business needs and goals

2 Choose the right blockchain platform and architecture

3 Develop and test your blockchain solution

4 Deploy and manage your blockchain solution

5 Collaborate and innovate with blockchain partners and communities

6 Learn and improve from your blockchain experience

IT Strategy

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