Helping businesses to understand blockchain’s potential
We have been working with public and private sector organisations to help them begin their strategic transformation journey on considering and implementing blockchain solutions in their organisations.
Baillie Gifford, the Edinburgh based investment fund managers asked us to help facilitate their learning, by delivering talks and workshops – you can read more about this process in their case study. Solution architects for the English public sector Looking Local commissioned a learning report from us, as have other Scottish local authorities and businesses, as well as of course the Scottish Government itself. Forward-thinking organisations are raising blockchain literacy across the enterprise so that they can get subject matter experts to help them understand where the technology will really make a difference now, not just in the future.
Wallet.Services’ Strategic Transformation Director Dr Hannah Rudman explains why Strategic Transformation journeys are required by many enterprises:
“Business leaders across industries see blockchain’s potential to streamline business processes, enable new business models, and potentially reshape sectors. But for most enterprises, obstacles have kept the value of blockchain more prospective than actual.”
Hannah explains that these obstacles are:
“not properly understanding the technology, and therefore not being able to see the customer, organisational, or business model value. Blockchain is an emerging technology so that presents technical challenges, but there is also the human factor: blockchain changes the way organisations collaborate, and how partners interact. Use cases for blockchain technology have to improve IT, create customer value, achieve operational or co-operational efficiencies, and therefore be implementable business models.”
We have devised a framework for Strategic Transformation around blockchain that facilitates enterprises to prove the technology, customer and organisational value, and business models of blockchain. Learning and understanding about blockchain and what use cases might be appropriate will require getting hands-on through learning sessions, interactive ideation workshops, constructing business cases and building proof of concepts/pilots. Once these are underway, critical evaluation can prove the benefits, efficiencies and improvements of blockchain.