Blockchain project development: first question is blockchain needed ?
When companies define strategies they often make a few missteps. They usually collect past data and make predictions about the future based on it, and often this same data doesn’t tell what future customers expect. Alternatively, they make risky bets based on gut instinct instead of evidence. Blockchain Product Design is a strategic process that seeks to avoid these mistakes through a series of methodologies applied by startups seeking a profitable, repeatable, and scalable business model.
The first and only universally valid rule is to build something that people want.
This means finding a problem for whose solution someone would be willing to pay something.
In our case, it’s important to understand whether the problem can be solved with Blockchain alone.
To understand this, we just need to answer six questions:
- Do I need to register status? (True) (False)
- Are there multiple people who need to write data? (True) (False)
- Do you NOT want/can you delegate to a single third party? (True) (False)
- Are all the people writing data NOT known? (True) (False)
- Are all people who write data NOT trusted? (True) (False)
- Is public verification of all transactions required? (True) (False)
If you answered False to any of these questions, there is no need for a Public Blockchain, at most a Federated or Private Blockchain.
Blockchain Product Design is a strategic process that employs three methodologies from the world of innovative design, the startup world, and the world of software development.