Blockchain Technology has made good inroads into mainstream enterprise applications. Various challenges like Blockchain DevOps, interoperability, scalability and lack of expert resources are still slowing down the rate of adoption.
Why? Be it for data preservation, security, or enhanced network capabilities, Blockchain Adoption can outwit the cybersecurity barriers of digitized enterprises for smooth business information exchange. When it comes to the deployment of Blockchain protocols in the Fintech sector, security and compliance takes the front seat.
Rushed Blockchain implementation leads organizations in dire straits that are synonymous to failed innovation, washed out investments, hasty decisions and even refusal of a game-changing tech. Thus, an organized approach towards Blockchain Adoption is the need of the hour to bank on this emerging technology and make the most of this evolution.
Read on to know how you do it like a pro.
A quick overview of Blockchain for starters
Blockchain Technology is the most verifiable and secured ledger system for storing and verifying the data, assets and transactions. It helps establish a secure and trustless network allowing businesses to transact with each other with more trust. Smart contracts help encode business terms into a program leading to automated execution. It helps to reduce disputes and unauthorized actions.
Add to its credentials, when it comes to the high tech industry, Blockchain finds its relevance for many applications other than supply chain, like digital rights management, digital identity, loyalty and reward programs, audit trail compliance, HR background checks, etc.
Blockchain Deployment and Management: The pressing concern
There is no denying to the fact that emerging technologies like Blockchain are setting the course for digital transformation. In tune with this, Hyperledger Fabric, Hyperledger Sawtooth. DLT here is a reference to the technology, Fabric and Sawtooth also are DLT’s and CORDA, etc., have paved the way for businesses to keep a track of transactions without breaking a sweat. But the pressing concern about these multi-node heterogeneous technologies is their deployment and management.
To adopt such Blockchain-based solutions (like Hyperledger and Ethereum) companies need a business continuity and service availability, aided with cost-effective postproduction management, operation, and process automation.
The absence of these imperative factors has molded Blockchain Adoption and deployment as one of the most biggest problems to achieve organizational goals.
Key factors for successful Blockchain Implementation
In a bid to meet business requirements, it goes without saying that Blockchain needs to address some unavoidable concerns like architectural challenges, scalability and security issues, interoperability, etc.
Here is a gist of the key factors to be considered for a successful Blockchain adoption:
- The Blockchain DApp should have well designed architecture to meet enterprise needs
- Choice of Blockchain Protocol should be aligned with the architecture and enterprise requirements
- Establish the the need and design of the smart contracts
- Define the validated data sources and their consumption in smart contracts
- Establish the Integration and interoperability requirements.
- Assign trained resources to the project who understands the fundamentals of Blockchain
Blockchain DevOps challenges
Blockchain implementation requires expert team of DevOps engineers. There is a scarcity of Blockchain engineers with necessary expertise. Add to it, successful implementation also requires control, optimization, ease, and customization of Blockchain deployments for decentralized applications. Thus, business needs to set up a Blockchain platform on a heterogeneous cloud that supports multi-nodes protocols and should allow:
- Downscale and Upscale on demand
- Smart Contracts and deployments to standardization
- Decentralized governance
- Crafting the network layout for Blockchain protocol
- Smooth on-boarding of non-technical users
- Bench-marking and optimization capabilities
- Thorough monitoring capacities
To successfully adopt Blockchain in business and transform its digital landscape, it is mandatory to adhere to the above key points. If your business fails to tap into this emerging technological revolution, you will lose the competitive edge to succeed.
So pull up your socks an embark on the journey of exploring the evolving distributed ledger technologies and say goodbye to the outdated transaction and record-keeping mechanisms and lay the foundation of a disruptive digital business.
Zeeve Platform features a standardized approach to deploy reliable Blockchain nodes and networks. It means better security and compliance and cost optimization for your Blockchain. Checkout features of Zeeve No Code Blockchain Platform or sign up for a free account. More than 2000+ developers and Blockchain companies across the globe trust Zeeve for deploying and managing their Blockchain DApps, Smart Contracts and underlying infrastructure. Zeeve supports standardized deployments for multiple Blockchain Protocols. Zeeve also supports all the major cloud providers for hosting and managing your Blockchain. This includes AWS, Azure, Google Cloud, Digital Ocean and IBM Cloud.