2016 was the year of creating frameworks and filters to determine if a business problem was worthy of a blockchain-based solution. Often, the frameworks would declare inappropriate potential use cases as ripe for blockchaining, as the frameworks were often designed by blockchain vendors or consultants to let as much through as possible. However, many of the proofs of concepts built in 2016-17 have not become industrial solutions. Why?
Two main reasons are:
The technology didn’t meet the requirements of the use case
The use cases themselves were selected badly
This post discusses what went wrong with use case selection, and presents two new and better questions for use case selection.
Over the past year I have come across many blockchain ‘proof of concepts’, that take existing business ideas or challenges and apply a specific technical design (blockchains) to the solution. The usual problem/solution decision process has been turned on its head:
On 25 Jan 2016 the DTCC released a white paper entitled “Embracing Disruption – Tapping the potential of distributed ledgers to improve the post-trade landscape”. It is a very good read: high quality, succinct, and cuts through the hype.
I attempt to summarise for those with less time to read the full paper.