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5 Easy Ways to Determine If Your Company Needs Blockchain

Shelby Klingerman, Content Curator |

Blockchain is becoming increasingly popular in today’s workforce as one of the emerging technologies that is shaping the way people work. If you’re thinking about utilizing Blockchain, but you’re not sure if you need it, ask yourself these five questions that Lisa M. Schwartz laid out in the Forbes article “5 Easy Ways to Determine If Your Company Needs Blockchain.”

5 Questions to Ask Yourself

  1. Are we ready to lead a blockchain initiative, one that spans an industry or even multiple industries?
  2. Does our organization want to create or join an extended business network to improve a business process?
  3. Do we need to verify or authenticate a digital or physical asset across our business network or supply chain?
  4. Do our business or industry processes consist of specific contract terms and conditions that could benefit from faster-automated processing or payment?
  5. Do we trust the participants in our blockchain to consistently participate in good faith or do we need to incentivize the participants?

For more detail about how to determine if your company needs Blockchain, check out the full article from Forbes.

If you’re interested in learning about what Blockchain applications Oracle has to offer, look into Oracle’s press release “Oracle Unveils Business-Ready Blockchain Applications.”