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

Deciding to implement a blockchain

Any organization should start with a problem statement. Starting from the technology is pointless because it does not answer the end user's need. I often compare this typical behavior as grabbing a screwdriver and checking what can be fixed with it. Sure, some stuff might be repaired along the way, but the main problem would not have been fixed. Hence, it is important to identify the problem first, before thinking of a way out.

Once the issue has been identified, you should focus on the simplest solution available and answer the question: Do I actually need a blockchain?

The final response to this question will most likely be determined by the subsequent questions:

  • Do you need to ensure a state of information or allow a digital value to be transferred between stakeholders?
  • Are all of the stakeholders independent?
  • Is there any trust...