Following the hype cycle, the ICOs and the billion dollar market caps, blockchain technology has found itself in a bit of a rut. The flapper girls have left the Gatsby mansion and in the aftermath of the party, only 3% of businesses are using blockchain solutions in production according to a survey by #SAP.
Blockchain-As-A-Service license sales are languishing as board room executives remain largely unconvinced by the value proposition evident in the Proof Of Concept demonstrations brought to them by the large blue-chip consultancies. Too complex. Too expensive.
However, there are few businesses that can ignore opportunities that address traditional levers such as reduced risk and increased operational efficiencies. Here in the resources-dominated market of Western Australia, innovations that can improve safety procedures and simplify compliance processes will seldom be unpopular.
Which is why at BlockBoxx we are reframing the debate. Blockchain must exist as part of a broader digital transformation agenda. At its best, it can complement other emerging technologies such as AI, Machine Learning, IoT, Robotic Process Automation and Big Data to create trusted transactional datasets that facilitate audits and evoke transparency.
Since last October we’ve been working on a solution that enables companies to connect their primary applications to the blockchain in just 15 minutes.
In addition to this, in Q1 we are launching:
- An RFID-enabled asset lifecycle management platform that allows the tagging and tracking of any operational asset through its operational lifecycle
- A digital health passport that removes the need for paper prescriptions, discharge certificates and medical leave forms
- An online marketplace that incentivises and rewards patients for consenting to their medical images being used as part of ongoing research and development initiatives.
Each of these solutions will write data to the blockchain. Each will benefit from the increased security afforded by decentralisation and the reliability of being able to produce a record-set that is as provable as the laws of mathematics. But each has a broader value proposition with demonstrable customer demand. Each business is based on a robust model with the ability to generate organic sales.
Author: Martin McGinty