Blockchain and implementing change in the real world
I have now written a series of posts for non-technical users of the platform to assist with the understanding of the blockchain technology set, how the blockchain might influence various industries and also how blockchains can influence or enable other technology platforms like the internet of things. My personal opinion is that most industries will either be influenced or revolutionized by blockchains if we apply the technology in the correct way.
Applying and developing solutions using this technology, is however the easiest part of the equation. There are many other factors which need to be taken into account during the introduction process.
The most important is probably change management, user adoption and the willingness to use the newly implemented tech. As mentioned in various articles, I have some experience in introducing new systems in companies and government departments, and none of these technology implementations, would have been successful without proper change and project management. Another thing that walks hand in hand with the above mentioned is buy in or willingness from the end users to adopt and use the newly implemented technologies.
Change Management
The definition for change management as per Wikipedia
Change Management (CM) refers to any approach to transitioning individuals, teams, and organizations using methods intended to re-direct the use of resources, business process, budget allocations, or other modes of operation that significantly reshape a company or organization. Organizational Change Management (OCM) considers the full organization and what needs to change. Organizational Change Management principles and practices include CM as a tool for change focused solely on the individual.
CM focuses on how people and teams are affected by an organizational transition. It deals with many different disciplines, from behavioral and social sciences to information technology and business solutions. In a project management context, CM may refer to the change control process wherein changes to the scope of a project are formally introduced and approved.
Adding value
One aspect that always help with the adoption process, is when the technology implemented, actually adds value to the end-user’s life, or make things easier. This is however not always the case, as the technology which are implemented will not always have the same impact to each and every end user. The blockchain will add value to the end-users and this will probably assist tremendously with the change management and adoption of this technology
End users are hesitant to change
End-users are very, no extremely hesitant to change. Interestingly enough, I find it very difficult to implement solutions in professional environment as these users are more hesitant to change. I do however understand why. In a professional environment, like in the engineering, legal and health industry, technology is nothing else than an enabler of making the professional's life more efficient. If the new technology does not allow the professional person’s job more efficient, it is a waste of time, and directly influence the revenue streams for the organization.
Just as if it is difficult to implement a new technology in an organization or government department, it will be difficult for industries to adopt a new direction. If we look at Blockchain as an enabler of new things in existing industries, it is easy to spot the opportunities and gaps, but it is not always as easy as one thinks to implement this in a new industry.
Let's add crypto in the mix
In my mind if we add Crypto Currency to the conversation, the financial industry, are set to lose the most, hence we can expect some major battles in the coming years. When crypto currency reaches main stream currency, banks will be the first to be obsolete, as why will you need a bank, of you have a crypto wallet with a currency that is widely accepted in the goods industry? There are many things that banks need to get in place now, in order to secure a future for themselves, although I believe it is already to late for the banks to safe themselves.
The financial sector has not had a major upset or enforced change for centuries actually. Most industries went through some sort of revolution, except for the financial and banking sector. They are however very powerful players, and will put up a good fight. Let's see how this plays out in the next few years:)
The big players like the telecommunication sector as well as many other industries, are in my opinion set to gain the most from this new technology, and all they need to do is find a good use case and execute. They do own the networking infrastructure and customer base. These large corporate's are unfortunately large entities and difficult to turn onto new strategies. In my opinion, people working in corporate's are usually lifers, and you do not find much innovation, they are more looking after themselves from a retirement perspective and do enough not to be fired for non-delivery. The new joiners in the corporate's are usually the innovators, but only until the point, when they figure out that working for a corporate's is nothing more than just being a number, and focusing on if you will make this quarters targets.
Don't get me wrong, I am currently working for a large corporate's in the ICT industry, and I believe there is a place for these corporate's at the moment as a result of the way the world evolved to where we are today. People are used to working in this way, I am just not sure if the corporate structure as we know it today will be the same corporate structure of the future corporate. As everything the corporate world will evolve.
I have used the image below in a few of my articles, but it is yet again appropriate today
Image Credit
If you are interested, please read some of my older posts in this series of posts below:
Blockchain in the Health industry
Blockchain and the Internet of things
Blockchain in the Telecommunication industry
Blockchain in the Transport industry -Shipping containers
Blockchain and Education
Blockchain as an Enterprise Information Management platform
Happy Steeming
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Thanks for that. I look forward to seeing blockchain technology applied on grand scale and banks evaporating.
I gave an enthusiastic rant about bitcoin during an internal job interview with a major telco today. Guess we'll see how they feel in a few days :)
Let me know what the response was in a few days, please @mattclarke :)
Success :)
Slight pay rise, better career path and conditions. When somebody senior wants an insight on crypto, someone will remember my name.
I liked your article. Helps you like mine ♥ @siams
Insightful as always and yes, end users are very resistant to change. Even when you show them that it will make their job, life, work easier.
If they have to learn something new to get the benefit of the change they are very hesitant. It's a process that has to work itself out unfortunately, but we'll get there.
Hi @jacor
Except for banks countries money exchange policies and control will be greatly affected by crypto currency, as the money can be withdrawn from anywhere in the world, with no control from governments, surely this will also lead to a fight. I however like the fact that I can use my money where and when I want.