Innovation

BlockChain

    1

  • BlockChain has the potential to redefine entire industries. However, successful projects must overcome the current technological limitations and, above all, create the so-called network effect: different stakeholders (companies, public administrations, financial institutions) that cooperate in a synergistic way

  • 2

  • There is no complete clarity on the possible use cases of the Blockchain, indeed in some cases it could also be counterproductive to use it. Business Changers has created an assessment methodology for Blockchain projects to evaluate, in an objective and scientific way, the technical feasibility and the economic return

  • 3

  • The realization of a Blockchain project requires the definition of different technological / architectural choices: public or private, block size, cryptographic algorithm, mining strategy, etc. These choices discriminate between the success and failure of a project. We also provide Blockchain solutions development services to our customers

The potential applications of the blockchain are multiple and they promise to drastically modify entire market sectors. The technology is likely not completely mature, but undoubtedly it will drive the beginning of a new era


The Blockchain technology has a strategic business value. Although there is a strong media hype with the proposal of use cases not always meaningful in terms of return on investment and real-world utility, however it is undeniable that the Blockchain can revolutionize the world as we know it.

This is a path that must be carried out and which, perhaps, will require some more years to allow the full maturity of the technology, but companies must invest now for not losing ground with the competition. What are the use cases that bring real economic utility? If we consider the world of financial services and the complexity of process and technology behind the world of the transfer of value (currency, securities, etc.), it is evident how the Blockchain can drastically reduce the transaction costs.

To make a payment today, especially cross borders, requires the execution of multiple operations with several operators on various technology platforms and can require up to 3-4 days for the transaction completion. The fact that the operation requires several steps increases the costs both for intermediate operators (banks) and for the end user (individuals or companies). With the Blockchain a payment transaction can be carried out in a few minutes, if not in seconds, in a completely agnostic way about the geographical position of the involved actors (individuals or companies).

In the world of the financial services the use cases are not limited only to payments, but include also the post-trade settlement activities in the field of capital markets, the exchange of information and guarantees in the field of trade & export finance and so on. Possible use cases clearly extend to all the market sectors: Public Administration, Health, Manufacturing, Logistics, Energy.

There are also several limits and constraints for the development of the potential blockchain applications; the most important critical aspects are the lack of technical and process standards and the absence of a regulation/governance by public authorities or private consortia. The overcame of these limits will require time and it will be necessary to achieve the so called network effect, that corresponds to a set of entities, sometimes even in competition, that join forces to obtain a shared advantage.

With regards to the long-term benefits of the Blockchain, two scenarios can be identified :

  • Costs reduction related to the operational activities of the companies or public administrations that decide to cooperate, thanks essentially to the ability of the technology to exchange and store data in a safe, transparent, fast and economic way
  • Creation of new business models that are able to transform entire industries disintermediating the actors in the middle of the value chain. This last scenario maximizes the potential of the technology

Private or public Blockchain?

The Blockchain is born as public (simplifying, anyone can participate and join the chain) and therefore represents an archetype of decentralization that does not need central authorities and that has no single point of failure. In our opinion, the greatest potential lies in the public Blockchain , with a sort of self-regulation by the network participants.

At the same time, even the private Blockchain (simplifying, only authorized actors can join the chain) have a significant business value thanks to the data sharing by different companies. The private Blockchains are more easily scalable since it is easier to realize the network effect mentioned previously. However, private Blockchains have less potential (than public ones) for the creation of new innovative business models.

Business Changers has carried out a study on the state of the art of the technology, discerning the facts from the hype. The study identifies in detail the use cases of value, having the following characteristics:

  • They bring real economic benefits
  • They are actually feasible in terms of technology, processes and standards
  • they are categorizedby market sectors
  • Critical aspects andobstacles to overcome are described in details

Together with the study a methodology of analysis has been created that considers the customer use cases and identifies a feasibility rating and the ability to create value (also defining the ROI – return on investment – of the initiative).

In conjunction with business consulting services, Business Changers offers its customers the following technological services :

  • developmentof blockchain applications, through the most common programming languages ​​(Java, Go, C ++, Python, Solidity, etc.) and related wallets
  • smart contract development (insert hyperlink to the smart contract page)
  • blockchain configuration via Composer of the Hyperledger Fabric platform

The study on the state of the Blockchain, the methodology, the feasibility of projects and the technological services are available to businesses and governments that want to undertake an adoption path of the Blockchain to achieve concrete and important advantages that go beyond simple media hype.

The potential applications of the blockchain are multiple and they promise to drastically modify entire market sectors. The technology is likely not completely mature, but undoubtedly it will drive the beginning of a new era


The Blockchain technology has a strategic business value. Although there is a strong media hype with the proposal of use cases not always meaningful in terms of return on investment and real-world utility, however it is undeniable that the Blockchain can revolutionize the world as we know it.

This is a path that must be carried out and which, perhaps, will require some more years to allow the full maturity of the technology, but companies must invest now for not losing ground with the competition. What are the use cases that bring real economic utility? If we consider the world of financial services and the complexity of process and technology behind the world of the transfer of value (currency, securities, etc.), it is evident how the Blockchain can drastically reduce the transaction costs.

To make a payment today, especially cross borders, requires the execution of multiple operations with several operators on various technology platforms and can require up to 3-4 days for the transaction completion. The fact that the operation requires several steps increases the costs both for intermediate operators (banks) and for the end user (individuals or companies). With the Blockchain a payment transaction can be carried out in a few minutes, if not in seconds, in a completely agnostic way about the geographical position of the involved actors (individuals or companies).

In the world of the financial services the use cases are not limited only to payments, but include also the post-trade settlement activities in the field of capital markets, the exchange of information and guarantees in the field of trade & export finance and so on. Possible use cases clearly extend to all the market sectors: Public Administration, Health, Manufacturing, Logistics, Energy.

There are also several limits and constraints for the development of the potential blockchain applications; the most important critical aspects are the lack of technical and process standards and the absence of a regulation/governance by public authorities or private consortia. The overcame of these limits will require time and it will be necessary to achieve the so called network effect, that corresponds to a set of entities, sometimes even in competition, that join forces to obtain a shared advantage.

With regards to the long-term benefits of the Blockchain, two scenarios can be identified :

  • Costs reduction related to the operational activities of the companies or public administrations that decide to cooperate, thanks essentially to the ability of the technology to exchange and store data in a safe, transparent, fast and economic way
  • Creation of new business models that are able to transform entire industries disintermediating the actors in the middle of the value chain. This last scenario maximizes the potential of the technology

Private or public Blockchain?

The Blockchain is born as public (simplifying, anyone can participate and join the chain) and therefore represents an archetype of decentralization that does not need central authorities and that has no single point of failure. In our opinion, the greatest potential lies in the public Blockchain , with a sort of self-regulation by the network participants.

At the same time, even the private Blockchain (simplifying, only authorized actors can join the chain) have a significant business value thanks to the data sharing by different companies. The private Blockchains are more easily scalable since it is easier to realize the network effect mentioned previously. However, private Blockchains have less potential (than public ones) for the creation of new innovative business models.

Business Changers has carried out a study on the state of the art of the technology, discerning the facts from the hype. The study identifies in detail the use cases of value, having the following characteristics:

  • They bring real economic benefits
  • They are actually feasible in terms of technology, processes and standards
  • they are categorizedby market sectors
  • Critical aspects andobstacles to overcome are described in details

Together with the study a methodology of analysis has been created that considers the customer use cases and identifies a feasibility rating and the ability to create value (also defining the ROI – return on investment – of the initiative).

In conjunction with business consulting services, Business Changers offers its customers the following technological services :

  • developmentof blockchain applications, through the most common programming languages ​​(Java, Go, C ++, Python, Solidity, etc.) and related wallets
  • smart contract development (insert hyperlink to the smart contract page)
  • blockchain configuration via Composer of the Hyperledger Fabric platform

The study on the state of the Blockchain, the methodology, the feasibility of projects and the technological services are available to businesses and governments that want to undertake an adoption path of the Blockchain to achieve concrete and important advantages that go beyond simple media hype.

    1

  • BlockChain has the potential to redefine entire industries. However, successful projects must overcome the current technological limitations and, above all, create the so-called network effect: different stakeholders (companies, public administrations, financial institutions) that cooperate in a synergistic way

  • 2

  • There is no complete clarity on the possible use cases of the Blockchain, indeed in some cases it could also be counterproductive to use it. Business Changers has created an assessment methodology for Blockchain projects to evaluate, in an objective and scientific way, the technical feasibility and the economic return

  • 3

  • The realization of a Blockchain project requires the definition of different technological / architectural choices: public or private, block size, cryptographic algorithm, mining strategy, etc. These choices discriminate between the success and failure of a project. We also provide Blockchain solutions development services to our customers