Book Image

Blockchain for Decision Makers

By : Romain Tormen
Book Image

Blockchain for Decision Makers

By: Romain Tormen

Overview of this book

In addition to cryptocurrencies, blockchain-based apps are being developed in different industries such as banking, supply chain, and healthcare to achieve digital transformation and enhance user experience. Blockchain is not only about Bitcoin or cryptocurrencies, but also about different technologies such as peer-to-peer networks, consensus mechanisms, and cryptography. These technologies together help sustain trustless environments in which digital value can be transferred between individuals without intermediaries. This book will help you understand the basics of blockchain such as consensus protocols, decentralized applications, and tokenization. You'll focus on how blockchain is used today in different industries and the technological challenges faced while implementing a blockchain strategy. The book also enables you, as a decision maker, to understand blockchain from a technical perspective and evaluate its applicability in your business. Finally, you'll get to grips with blockchain frameworks such as Hyperledger and Quorum and their usability. By the end of this book, you'll have learned about the current use cases of blockchain and be able to implement a blockchain strategy on your own.
Table of Contents (16 chapters)
Title Page

The significance of blockchain in the business world

The latest Gartner's Hype Cycle, published on August 20, 2018, shows how far blockchain is from massive adoption: 5 to 10 years (https://www.gartner.com/en/newsroom/press-releases/2018-08-20-gartner-identifies-five-emerging-technology-trends-that-will-blur-the-lines-between-human-and-machine).

The Gartner's Hype Cycle is a visual graphical representation of emerging technologies' maturity and adoption. It is an annual report published by Gartner, an information technology research and consultancy firm.

As stated by Gartner, blockchain has shown many great stories and successful proof of concepts propelled by a wide media coverage and publicity, but still faces many failures and scalability issues. Some products have seen the light, with a real impact on economy and society (Bitcoin and Ethereum are the most well-known) but the mainstream adoption and broad market applicability (the so-called plateau of productivity) will be reached only if products are sustained with large investments and the technology is understood more and more.

According to PwC's 2018 Global Blockchain Survey, 84% of C-level executives report that their organization already has involvement with blockchain technology, but more than 65% of them have not pulled through the pilot stage yet.

The PwC 2018 Global Blockchain Survey was fielded between April and May 2018, surveying 600 executives with technology responsibilities over 15 countries. More than a third of the respondents work in organizations with revenues of $1 billion or greater.

There is a significant misunderstanding around the concept behind blockchain and its applicability within the business world. Cryptocurrencies and blockchain's recent hype makes executives assume that it stands as an answer to every business challenge. In fact, blockchain has to be considered as a layer for securitizing transactions and ensuring transparency of information and authentication of stakeholders in a decentralized environment. Blockchain is often seen as a difficult notion to grasp, especially for non-tech people. This book will help you to identify, as a decision-maker, the opportunities offered by blockchain for you to understand its applicability and ultimately give you the keys for initiating a blockchain project.