Originally invented as a base technology for cryptocurrencies, blockchain itself has become a hype topic. Development experts and technology news have turned their attention to its potential. Following first applications in the financial sector, companies from different industries, including logistics and supply chain management, have recently started experimenting with blockchain technology in applications that lead far beyond the original scope. In consequence, the technology has passed its climax in the Gartner hype cycle, as real-world experiences take the air out of inflated expectations by revealing the actual potential and pitfalls. However, there are still many people who strongly believe that “Blockchain has the potential to redefine transactions and change everything” (Goldman Sachs).
Is this just hype or is there real and tangible benefit for the industries? If there are so many promises and opportunities, what needs to be done to leverage the potential of blockchain? Will it require heavy IT investments and competences?
It’s about time to demystify.
What are the opportunities of Blockchain? For which use cases can the technology be helpful and where not? How should an efficient Blockchain model look like, and to what extent will it change the roles of the different players in the market? Let’s discuss!
Alexander Cohrs, Kuehne + Nagel