Originally published at CEOWORLD MAGAZINE and written by Chainyard SVP Isaac Kunkel. Read the full article.
As the spending on blockchain technology totaled $6.6 billion in 2021, more companies are figuring out how to get involved. The exact blockchain opportunities are unique to each business’s existing ecosystems, stakeholders, and processes. The business model is critical; with a suitable business model, we see blockchain technology eliminating 90% of redundant tasks, speeding up cycle time by 90%, and reducing administrative costs by half for most of these companies.
The article discusses 5 Ways to Discover Blockchain Opportunities, starting with understanding blockchain and new business models, getting buy-in from all stakeholders, finding the right technology partner, quantifying the business value to all participants, and finally, having a roadmap for continuous improvements.
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