Revisit the Enterprise Technology Strategy for Applying Distributed Ledgers
By David Pinski, Chief Strategist, Financial Innovation Laboratory, Hitachi
Blockchains’ best-known use cases are cryptocurrencies and large-scale industry consortiums. These use cases tend to result in complex distributed systems. However, the technology has many, more discrete applications within a single company or small networks.
It doesn’t have to be all about the “distributed” component of a distributed ledger system. Blockchain’s immutable characteristics make it an excellent choice for governance and compliance systems.
Applying it in cases requiring digital trust will result in a new class of enterprise systems. These discrete enterprise systems could be built and deployed in months, not years as in the case of consortium systems. As a new technology, blockchain is perhaps being applied to complex and high-risk project prematurely.
It is time for companies to rethink their application of this technology and turn some of their attention to lower risk projects from which operational characteristics and best practices can be determined.
Hitachi, Financial Innovation Lab, will revisit the enterprise technology strategy for applying distributed ledgers to the corporate world and offer some new viewpoints on how best to derive benefits for organisations.
