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Blockchain implementation risks and challenges can lead to cost overruns, delays, and disruption of business operations. However, there are ways to mitigate each of these risks, so your project can succeed. It is on the theme of enterprise adoption failures that Zeeve in association with the Government Blockchain Association (GBA) conducted the sixth episode in the webinar series of total 7. For the fifth webinar, Zeeve’s Co-Founder and CTO – Ghan Vashistha helped participants decode the risks that users of the blockchain technology should keep in mind when integrating the technology in their system.
The implementation of enterprise blockchain technology can be a complex and costly endeavor, and unfortunately, it can also fail. The failure of an enterprise blockchain implementation can be caused by a variety of factors, including inadequate planning, lack of resources, and inadequate technical expertise. This episode was an attempt to provide helpful answers to some of the most common questions about enterprise blockchain implementation and adoption failures and then examining some additional capabilities that should be considered when integrating the solutions to avert those risks.
Mr Ghan highlighted in his session how poor planning is one of the most common causes of enterprise blockchain implementation failure. Without a clear understanding of the goals and objectives of the project, the team may not be able to develop a comprehensive strategy for implementation. Additionally, he stressed on how the team may not have the necessary resources or expertise to ensure the successful implementation of the technology.
Inadequate technical expertise was pointed to as one of the major causes of enterprise blockchain implementation failure by the speaker. Without the right technical expertise, the team may not be able to properly implement the solutions. The session viewers had a clear understanding of the key barriers for enterprise blockchain adoption as Ghan elaborated on each of the factors in detail.
Besides Ghan also spoke of the importance of following a structured approach for enterprise blockchain implementation to have a clear understanding of the desired outcomes. He stressed on the fact that the blockchain technology is constantly evolving, so it is important to plan for changes in the future. This will help ensure that the solution remains up-to-date and can easily adapt to changing requirements.
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