Ready to launch a blockchain project? Not so fast. Before you get started, you’ll want to make sure you know how to take a blockchain project from start to finish. CompTIA’s Blockchain Advisory Council has developed an infographic to help technology and business professionals better understand the seven phases of blockchain implementation.
Phase 1: Learn
Ensure everyone in your organization understands blockchain.
- Review recent research, business use cases and case studies.
Phase 2: Strategize
Integrate blockchain strategies into your business strategy.
- Define the business transformation opportunity.
- Determine if blockchain is the right choice.
- Develop a blockchain strategy.
- Integrate the blockchain strategy into the current business strategy.
Phase 3: Make the Case
Ensure key stakeholders understand the business case for blockchain transformation.
- Define transformational impacts, including markets, customers, organization, business processes, and suppliers.
- Identify a priority area for blockchain transformation.
- Identify returns and high-level costs.
- Create an ROI model.
Phase 4: Plan
Strategic and tactical roadmaps will provide insight to the timing and requirements of each step to implementation.
Consider front and backend requirements, including:
- Technology selection: permissioned vs. public blockchain
- Buy vs. build
- Business process redesign
- Organizational impacts
- Change management
- Risk management
- Governance model
- Timeline and cost
Phase 5: Pilot
Pilot a process—or proof of concept (PoC)—in your business that will deliver results and provide key learnings.
- Validate results.
- Finalize your roadmap and business case.
- Define implementation model.
- Assign resources.
- Create blockchain implementation plan and protocols.
- Create blockchain sustainment plan, including determining if you will implement a “blockchain as a service” (BAAS) model or not.
- Finalize governance model.
Phase 6: Implement
Blockchain implementation is a multi-year transformational process.
End-to-end implementation should include the following:
- Interface with supplier and customer systems (if applicable)
- Change management
- Organizational redesign
- Disintermediation process
- Expansion to transactional processes
- Sustainment plan
- Governance model changes
Phase 7: Grow the Network
Take what you have learned and leverage it with your customers, partners, and suppliers for exponential value.
- Validate results.
- Develop additional upstream and downstream roadmaps.
- Continue disintermediation process.
- Enforce process for blockchain updates (i.e., core chain code updates).
- Define long term impact to business model.
