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The security feature of blockchain is making it a lucrative technology for many industries and government organizations. The defense sectors in many countries are looking into the security challenges that come with adopting the technology. The blockchain is not just an application that companies can install on their devices; instead, it is a foundational technology that solves all organizational issues.
The blockchain is a distributed and decentralized ledger that offers the enterprises with the ability to connect disparate systems within organizational IT infrastructure using various recent technologies like artificial intelligence, robotic process automation, and machine learning to solve critical business problems. Blockchain can be effective as a foundation technology only if the employees in an organization buy into the impact of blockchain on their workforce and work towards an internal user adoption.
The blockchain technology is connected with fundamental business process design. A blockchain can also be created using Microsoft Excel spreadsheet, but it can only work as an effective and transformative technology to work towards solving an organization’s unique business challenges if it not viewed as merely an application, database, and a back-end solution. A definite strategy is required to create a design that is centered around the users to solve business challenges effectively. Enterprises can follow the following strategies for an efficient blockchain application:
• Companies should look to design an interface which is easy to use and user-friendly.
• Organizations should ensure the right design by utilizing rapid prototyping to support the changes in business processes that is brought after blockchain adoption.
• Blockchain technology is developed using DevOps principles. It enables a business to shift away from time-consuming manual tasks. This can change the work culture of an organization.
Enterprises should be ready to strategize a change management system as employee roles will change after the blockchain implementation. Change management can be an arduous task if employees don’t buy into the changes. The effectiveness of blockchain technology can only be felt with a complete user understanding.