BCHAIN

Bringing blockchain into Industry 4.0

Blockchain trends for 2022

“This is the beginning of the decade of Blockchain and I think in 2022, we’ll start to see the global recognition of crypto assets in the industry 4.0.”

Moving forward in 2022

Adoption Rates across Industries

Now eleven years on from the mining of the genesis block on the bitcoin network, Blockchain technology’s popularity has seen a historic rise and a significant fall. 2022 brings with it an opportunity for the technology to move further away from experimental PoCs and pursue more significant investment for real business- ready solutions.

Financial Services

  • Financial services was the sector tipped to see both the most disruption and most significant investment in Blockchain technology.
  • Although other sectors now look like they may rival it, the previous statement remains largely true.
  • The news in 2019 was dominated by projects like Libra, Calibra, J.P
  • Morgan’s stable coin and the Interbank Information Network as well as Central Bank Digital Currencies (CDBCs) from the European Central Bank and The People’s Bank of China. Financial sector players big and small have entered the blockchain game.

Collaborating

The core benefits of Blockchain technology are realized through collaborating with others parties in an ecosystem and establishing a consortia.

Adoption is the measure of success
  • The key to a successful consortium is industry wide adoption
  • Consortium needs to be established in such a manner that will entice others to participate
  • In an industry consortia, one company should not have the position to have more power than the rest of the participants
Do not underestimate the human factor
  • Collaboration is hard
  • Understanding the individual and company interest for participation
  • Buy-in from decision makers is needed; Participants must be willing to commit time and resources to support the initiative
  • Building a community platform in addition to the technical platform is key for stakeholder engagement
Decision making should be based on level of participation
  • Equal participation can slow down decision making
  • Votes should reflect investment and sub committees should reflect interests
A strong business case for all participants
  • Start with an efficiency case as the business case is much easier to assess
  • The platform needs to bring some form of value to all participants.