Enterprise Blockchain adoption still in the early stages
Four years ago I launched Commercializing Blockchain: Strategic Applications in the Real World at a fantastic event in Las Vegas, followed by a private event at the US senate and a number of launches across the USA and back to London, U.K. for the final launch event at the Post museum
I chose the venues for the launches carefully – they were all places where the existing world can benefit from Blockchain Technology and all of them were institutions which can steer the development and adoption of Enterprise blockchain
We are now four years on, and whilst Enterprise Blockchain adoption has grown, it is still not where I, and my contributors, thought it would be
Whilst writing the book, I asked all my contributors to share their thoughts on “What does Blockchain technology look like in five years?”
They unanimously said that we would just be using the technology and not even saying the word blockchain
With one year to go – we are not there – and a long way off this goal in many areas
Why is Enterprise Blockchain not more advanced?
In 2019 – I wrote a blog on Forbes – Why Members Of The Blockchain Ecosystem Should Focus On Education – this blog still stands today and is, in my opinion, why we are still lagging in the adoption of Enterprise blockchain
That said, there are moves in a number of areas – Such as Records, Certification, Stablecoins and Digital Currency, to name a few
What we need to do now?
We need to Educate – this is the number one way to increase adoption and use of Blockchain technology in Enterprise
A few other ares to develop:
- Ensure Enterprise blockchain is non-political – the more we politicise Blockchain Technology, the more the message and understanding of the technology gets skewed and lost in translation
- Embrace the future and this amazing technology – it will enable so many new businesses, opportunities and benefits to society
Encourage more advancement and more professional behaviour in this space – like any new technology, this will mature and become a normal part of our lives
- Test, try and develop – get your hands dirty and learn – this is how humans learn best
- Focus on less crypto and more business – As I covered in my book, Cryptocurrency is just one use case of Blockchain Technology and the focus is about the Blockchain Business – building and developing long term sustainable business built on the string foundation of Blockchain technology
And finally, the main need is a clear use case and benefits – financially and non financial – What is the reason to use this technology and what benefits will this give business, society and the world at large?
There is no doubt, in my mind, that Enterprise blockchain is growing and is significantly further forward in many areas, but lets push education and let’s see what one more year brings!