Many people said the hype of tokenomy was harming adoption of DLT in Enterprise However, while high levels of investment into enterprise blockchain projects have been sustained over the last three years, the stark reality is that the vast majority still never make it beyond proof-of-concept. In fact, as few as 5% make it to production and, according to global research and advisory firm Gartner, 90% of those will need replacement within two years to remain competitive. This means there’s monumental potential for wasted resources.
1. Can multiple parties benefit from sharing data and coordinating processes along their value stream?
If not, it will be too hard to achieve buy-in along the value chain, particularly since there are often technical and governance barriers to overcome.
2. Do those parties currently face a barrier to coordination such as the inability to trust each other?
If not, they can just use a traditional database. The easiest check of whether there is a trust deficit is to ask: “Do we reconcile the data shared by another party with our own data?” If yes, there is a trust deficiency.
3. Are the services of an intermediary difficult to acquire, is the data involved too sensitive to entrust an intermediary, or is an intermediary more expensive than the proposed blockchain solution?
If not, participants are likely better off with an intermediary who can deliver “trust” efficiently across parties.
4. Are the parties holding high-quality, accurate data, and can standards about the structure of this data be agreed upon by the parties?
If not, it will be hard to gain value from the decentralized storage of this data. For example, in a supply chain use case where participants want to act upon temperature data coming from the inside of shipping containers, that data must be incorruptibly available to all participants and be structured in a way that it is easily used.
DLT is necessary to cover the future of IoT, AI, and Smart City concepts. A database only structured system is weak inefficient and has a lack of trust compared to the lack of trust in DLT it's a thousand times higher. The run is on and adoption will follow for the reason we can't trust each other in a world where the money system crashed. Read the full story here.