Event on: 16th Aug 2022

GBA – Episode 1 “Enterprise Blockchain Adoption” – Cost of doing blockchain

GBA - Episode 1 “Enterprise Blockchain Adoption” - Cost of doing blockchain

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With innumerable benefits of blockchain technology  being realized across all major industry verticals worldwide, enterprises have started investing into it aggressively more than ever before! Integrating blockchain solutions may seem like a tough task but being armed with the right knowledge and expertise can help enterprises make the right choice for the deployment of the blockchain nodes and   infrastructure management platform. Although there is a great interest in blockchain implementation on the global scale, many enterprises take a backstep owing to the involved challenges in its deployment. 

If you as a blockchain developer too are not yet familiar with the ways to tackle with the challenges that come across while developing enterprise blockchain applications, then catch the GBA Session on “Enterprise Adoption” which has 7 insightful and highly informative episodes highlighting the relevant dimensions involved with the blockchain adoption by enterprises. 

The first among the 7 episode series happened on 16th August and was conducted by Zeeve’s CTO and co-founder – Ghan Vashishtha. The session was held with the view to help expand the knowledge base of developers on factors that are significant to the enterprise blockchain adoption. 

Ghan spoke in detail about the high-level construct of an Enterprise Blockchain solution, factors that affect the costs, organizational objectives that should be met along with Node management, and also helped the audience understand the criticality of a node deployment platform in determining the total cost of the enterprise blockchain implementations. 

During the session, Ghan explained the cost model of the private blockchain and helped us to understand it by demonstrating a scenario. The scenarios are based on inputs, assumptions, and outputs incorporated in the model framework. And the cost has been separated into four major categories, with many declining over time by the experience curve. He also spoke about the five-year total plan cost for each scenario which includes Onboarding costs, Cloud costs, Ongoing Maintenance costs, and Monitoring costs. 

The session also saw Ghan explaining the other additional inputs to be considered for simplicity and standardization. Also, the speaker gave an overview of the inputs which included Transaction volume, Transaction size, Node hosting method, Consensus protocol, Monitoring, and SLA Management. He also provides a detailed insight of node management methods which are on-premises and cloud-based that include Hosted Cloud, Existing cloud partnerships, and automation or Manual that should be taken into consideration when assessing blockchain deployment costs.

In the last part of the session, the speaker spoke about the Consensus Protocol that is being used by both private and public blockchains. The Consensus Protocol gives us an overview of Proof of work, Proof of stake, Proof of authority, and a scenario of a fault tolerance voting system. By the end of the session, the speaker also included the considerations to be taken care of to set up the private blockchain network.

Mr. Ghan also answered several questions on the cost setup of the Enterprise blockchain network and helped viewers get a better understanding of how cost analysis could be done for the purpose of blockchain enterprise adoption.


In case you missed it or would like a recap of all the valuable points shared here then you can tune into the channel to catch the webinar:

GBA - Episode 1 “Enterprise Blockchain Adoption” - Cost of doing blockchain


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