Three Steps to Launching a Corporate Blockchain Initiative

Second, order a good book about blockchain, read it, and leave it out in your office to spark conversations with colleagues. Last, but not least, go to a blockchain conference. This is hands down the best way to get acquainted with the technology and the burgeoning community that is innovating in it. You will not only accelerate your understanding of blockchain and begin to build your network in this space, but also return to your office with the infectious energy, passion, and enthusiasm of the blockchain community.

Find Your Champions

You will need champions, both internally and externally, to launch a blockchain initiative. You probably already know who your internal champions are. They are the executive level decision-makers who can green light or block a new initiative. They are the open-minded, energetic, and entrepreneurial line-unit managers whose support you will need to design, test, and scale any solutions you design. It helps to have an external champion as well—a blockchain innovator or entrepreneur whose knowledge, passion, and outside perspective can provide added credibility and who can better answer some of those knotty technical questions. Ideally, they have a solution that fits your business model in one way or another. If you’ve gone to a conference, or even a local blockchain meet-up in your city, then you are on your way to finding that external champion.

Organize a Mini-Workshop

I spent six months walking around the office telling anyone who would listen about blockchain, but I was mostly met with quizzical stares and skepticism as I attempted to explain what it was and why it was important to our business. How did I finally breakthrough? I started by doing the things above. I read a lot, attended a conference, and networked with anyone I could. Eventually, I connected with entrepreneur whose business model and professional background aligned well with the mission of my firm. He also brought a remarkable level of passion and enthusiasm not just for his solution, but for the power of the technology generally. I then identified no more than a half-dozen people in my company—a combination of executive-level decision-makers and some of the most creative and innovative senior managers from our business units—and invited them to a two hour workshop led by the blockchain entrepreneur. Getting that group in the same room to learn and then design blockchain applications within our business broke the dam. The energy in the room was palpable and within two hours, we conceived a dozen potential solutions. From there, I had a draft road map for the initiative and the support at every level needed to form an internal working group. This workshop laid the foundation for a strategic partnership to explore, design, and test blockchain applications in our business. We are now in the process of testing one solution that has the promise to deliver cost-saving operational improvements and create commercial value as well.

If my experience is illustrative, then you too can introduce blockchain into your company by getting educated, finding your champions, and getting organized. Start today, because tomorrow will be here before you know it, and by then the revolution in your industry may be underway.