Lata VargheseRecently, I was honored to have the opportunity to talk with FinTech Magazine about the future of blockchain and why organizations should be embracing this technology.
Here’s an excerpt from my conversation, which can be viewed in its entirety here.
The potential of blockchain technology is seemingly boundless – a disruptive and transformative tool that financial services companies can use to modernize their operations. However, blockchain adoption is far from ubiquitous, due to challenges in onboarding the technology in the right way.
Before blockchain can be properly implemented, there are many other processes that need to catch up to scale the technology for real enterprise use. This includes a lot more than just the technology, the app and deciding which protocol to build on. There are so many considerations when it comes to scaling enterprise blockchain solutions.
There is a lot of hard work enterprises need to undertake around operationalizing a network, setting up proper guardrails for enterprises, and collaborating on a blockchain network to feel comfortable securing data and customer information . . . it’s about completing the hard work to get to a place where blockchain can start to scale. As such, to embrace blockchain is to understand its value to a particular business and the efficiencies it can create.
Enterprises should ask: What problems can we truly solve uniquely with this technology stack? What does it allow us to do that we couldn’t do in the past? They should also ask how blockchain can enable them to do things more securely, where the benefits of going through the process of setting up a new infrastructure are evident and significant.
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