Blockchain in what areas can get fast returns?

nRunaway Comment: This article is exclusive to CoinDesk Review 2017 Column. In this article Tom Klein, BusinessBlock founder, a firm committed to creating true blockchain value for the business and driving operational excellence through early technology, presented himself to the small-scale success and breakthrough that blockchain technology could achieve in 2018 And introduced four modes that he believes will bring value and simplify use cases by 2018. Through the blockchain we can undoubtedly see a better world, but how to reach this other bank, we must first create a more simple and practical use cases.n
nTranslation: Clovern
Do you really want to wait until 2022 before using blockchain to bring benefits to your organization?n
In 2017, most of the focus has been on the vision, long-term projects and the performance of cryptocurrencies. We also got the CryptoKitties – 2017 Blockchain Star, both cute and fun but with limited benefits.n
While this vision is appealing as one who joins the community as a result of this technology and its social influence, it is not until the most productive use of 2022-2024 has been settled that the vision alone is far Can not sustain the development of this ecosystem.n
So the question we face in 2018 is even more specific: How to really achieve cost savings? Improve customer experience? increase income? reduce risk? Faster stakeholder interests?n
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Small-scale successn
First, we need to make the whole blockchain ecosystem more manageable, realistic and even better – simpler! Perhaps because it is a technology-driven community, most blockchain discussions will become more complex and less complex.n
If you have simpler and quicker use cases, there is an opportunity to move more organizations from the research phase to the implementation phase.n
You may think that there are already many use-case lists ready for action! Indeed, the list is long, but it lacks practicality. These use cases are too high – almost the same as telling salespeople to “go for sales,” without telling them any background information, without any training, inexperienced and technically based without letting them get success.n
My company is helping to change this approach by thinking that “what are the benefits we can get from existing blockchain technology in 3-6 months?”n
Although we have not yet determined this simpler and quicker use-case scenario, we have identified four patterns that we believe will bring value in 2018:n
nUnderstand blockchain while reducing digital storage costsn
Increase the credibility and availability of recorded datan
Next generation business process management and integrationn
Speed ​​up and reduce payment costs.n
nThe goal of this list is to combine the fundamental value of the blockchain with the current technology and real institutional needs. The first pattern on the list is a good example. Few people agree with the data storage vision, and although its cost is not high, data expansion requires a better solution.n
With Sia, Storj and other services, you can reduce the cost of using AWS – this is the real advantage of the blockchain.n
Another quick example is the private equity management blockchain developed by Northern Trust. In this solution, the company studied how to make use of the credible data generated by the blockchain. Their blockchain advantage translates into lower costs, less transaction time, and improved auditing and compliance transparency.n
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Give up controln
In addition to streamlining use cases, we also need to address the unanswerable question everyone wants: everyone wants the benefits of the blockchain, but whether they want to penetrate deeper into competition and control concerns Indecisive.n
These concerns are all reasonable and we have seen these issues revealed in the Bitcoin community. Since we can not solve these problems directly through the blockchain, a better way to facilitate faster adoption is to create a set of patterns that you can follow.n
For example, let’s take a look at the simple hierarchy of a business network model:n
nPublic data to own institutional consumersn
Longitudinal value chain with a dominant starting or ending pointn
Complementary proprietary data / contracts / SLA own institutional consumersn
Complementary proprietary data / contracts / SLAs own agency-specific data / contractsn
Through affiliates, consortia and direct competitorsn
nThe top-level model is the easiest way to get started, because it involves the least number of direct participants, and the bottom-most model is the hardest one because these are the many direct competitors you face.n
It is not surprising that these models have their own examples. Public data is the key to the first model, whether it is flight departure time or data from government agencies. And the second model is even more examples (Tencent, Daimler, Cargill, Bloomberg, …) where the lead agency can drive or prevent changes in the business network in advance.n
The third and fourth models are about subversion – both models avoid subversion but create new combinations to improve the user experience. Finally, direct competitors combine straightforwardly to create some new standard.n
Much like today’s blockchain industry, these patterns and models are just the beginning.n
While using these as a guideline to prioritize your ideas, minimize objections to blockchain readiness and get the basics of creating a true blockchain project. At the same time, we are also working to enhance these patterns with specific scenarios to make them more manageable.n
We can see a better world through the blockchain. Let’s focus on creating simpler, more practical use cases to get to your destination faster. We may even achieve the vision of changing the world even faster.n

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