Blockchain Strategy And Method
Disclaimer:
In particular, blockchain is in its infancy. There are no clear rules or regulators. The adoption rate and effectiveness are based on factual research and what we(the blockchain industry) know so far. No one knows exactly all the effects, advantages and disadvantages of all the new blockchain strategies/methods. The results may vary. The whole blockchain industry does not have enough samples or data for analysis.
This article will make people deeply realize that it is instructive to the public. Hegion aims to improve the adoption rate of blockchain technology among the general public through respectful and responsible publicity activities.
Blockchain strategy and method
Three years ago, the adoption of blockchain technology was an afterthought or an empty wind. In 2021, small talk has become a serious prediction in many organizations in various industries.
This article assumes at least a certain understanding of the blockchain industry. As with all other industries, it is an important practice to ensure that the best strategy or approach is deployed to improve the efficiency of the organization.
Identify and set targets
The application of blockchain technology is very rich and can be widely used. For companies that want to implement technology in the best way, this can be a very troublesome thing. Organizations planning to adopt blockchain should determine the problems and key points that can be solved through blockchain implementation.
Organizations should set goals for the blockchain according to their will or vision. The level of resources of organizations such as professional knowledge, knowledge and the willingness of senior managers will affect and affect the feasibility of introducing blockchain into the organization.
In addition to internal control points, the organization must also consider the environment of the entire industry. Some industries may be “blockchain affinity”, and blockchain may be an obstacle to some industries. If many requirements or answers are still unclear, such as the ROI implemented, the organization must reconsider the use of blockchain technology.
Optimizing blockchain strategies and methods
Once an organization finds problems and is ready to fundamentally adopt blockchain technology, it should choose the most appropriate method and strategy for them. Hegion decided on a variety of policies and divided them into four main methods. The organization must first understand the industry positioning. This will help simplify and optimize the adoption of blockchain.
This method has all the advantages and disadvantages. The other strategy can be cross domain or not mentioned in this article. For reference, we list the most common methods.
Industry leaders
The “leader” approach must utilize a positioning approach and strive to develop industry standards and specifications. Organizations that want to adopt this approach must understand the resources and back-end operations needed to integrate other stakeholders in each ecosystem area. Organizations adopting this method will consolidate their market position in the industry and establish control over the market. In the logistics or medical industry, large financial institutions or service providers will be candidates for this approach.
favor
Can eliminate the disadvantage of “first mover advantage”
Few regulatory rules and cases
Set the tone at an appropriate time and have a significant impact on future regulatory rules
Establish market norms and become the de facto leader
Fraud
Continuous innovation and action
Technological progress can make any adoption lag behind the times
Government supervision will happen soon, which will have a negative impact on the de facto rules and norms
Considerations for market leader positioning method
It usually requires skilled human and financial resources
Constant R&D D. Innovation and implementation should penetrate all stakeholders in the organized industry ecosystem. If you slow down, any advantage of organization building will disappear
Encourage rational cooperation such as dialogue with government supervision and management institutions. Between long-term growth and immediate service disruption.
Obstructionist
Organizations that recognize “subversive” practices often enter a market that they do not have to worry about protecting. They are non dominant and may know little about the wider community. Innovative approaches will mean providing services that customers can use and finding more effective ways to eliminate steps or achieve customer goals.
This approach is considered useful only if the organization using the “disruptor” approach can distort and reduce the dependence of customers on existing participants. If necessary, the Bas service can use this method.
Affirmative opinion
There is no existing market that can be “protected”, so you can enter the market through innovative solutions
The services provided are easier to adapt to market demands and changes
Improved flexibility for future rule changes and compliance
Fraud
The success of this approach depends on the ecosystem and existing actors.
Market sentiment and restrictions can affect results. Even if the solution is good, the public may not be ready to accept it.
Knowledge and expertise required by the target market
Precautions for “Disruptor” Positioning Method
While solving the problem, we should enter the “new” market space that brings novelty. If they are not new in the market they serve, they will not be regarded as subverters
It is very important to cooperate with famous or reputable players who can praise each other’s products.
This approach is usually at both ends of the ROI “success” range, so it is not recommended to advertise(organize) core services.
Opportunist
The opportunist approach is to act according to the meaning of the name. Organizations using this approach often balance options while waiting and implement the most appropriate technology when needed. These organizations generally do not have enough resources, or for any reason cannot adopt the leadership approach, that is, the ability of the packaging market ecosystem.
Affirmative opinion
In addition to the increase of initial investment cost, if the best method is adopted, long-term benefits and cost savings will be generated
A wait-and-see approach – weighing choices against the luxury of choice. Network connectivity with the Configuration framework
Fraud
Successful implementation requires additional initial resources.
The risk of adopting “wrong” blockchain technology is higher, because rules and regulations may change, thus affecting the network(blockchain) foam.
“Opportunism” entry method precautions
We have been looking for innovative ways to avoid losing competitors in similar industries. D or marketing teams of R&D and organizations must always be alert to the development of the industry and ecosystem they serve
Applicable to industry organizations that usually use licensed network environments
innovator
For organizations, innovative approaches are more unique strategies. Generally speaking, they are larger organizations or participants and can more easily adopt the “leadership approach”, but they are trying to innovate or improve the current business situation. Organizations that adopt this strategy usually want to change their way of working in the ecosystem, that is, they have influence in the industry, but they cannot persuade the entire industry to adopt the proposed blockchain solution.
The “innovator” approach is useful for an organization. Because they are trying “new” things, and there is no industry norm. Innovators will take the lead in the feasibility campaign of blockchain technology with other stakeholders of the ecosystem through dialogue, feasibility study, partnership, etc
conclusion
When adopting and implementing blockchain technology for organizations or businesses, there is no single “right” method. It is very likely to use multiple blockchain strategies. Please always remember that the blockchain is still in its infancy, and there are no clear rules and regulations.
Today’s best blockchain solutions may lag behind your organization tomorrow. When adopting strategies, like other business decision-making processes, we always conduct practical investigations and feasibility studies.
