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New paradigms for enterprise blockchain adoption

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As blockchain gets ready for enterprise adoption, companies and projects must adapt to the rhythm and motion of enterprises.

Blockchain technology has created a new avenue to reconfigure the vision for the future of the internet. Data on the internet generated by individuals, organizations and other users are controlled by centralized entities, with a significant concentration of economic power and influence held by a few key corporate players who have thrived on data aggregation economics. This phenomenon has alienated users, removing trust in what they see, find, use or assimilate.

However, despite all these advancements, the acceleration and use cases of blockchains in the real world and the adoption by enterprise or individual developers are still minimal. There is a myriad of complexities involved in the dApp development process with many developers still steeped in using traditional tools and models associated with Web2. Let us examine a few limitations and problems in this space today.

Lack of integration(s)

The data that needs to be trusted lives within legacy databases today (e.g., Oracle, SAP, MS Dynamics, etc.) for enterprises and Google Drive, One Drive, Box, Dropbox, etc., for individuals or consumers. There are limited tools providing integration between these centralized data storages or systems of record into a blockchain-ready solution, posing an impediment to proper decentralization.

Limited developer ecosystem

Blockchain is a new area, talent is scarce and many developers are still going through their learning curve. Ecosystems have not encouraged the proliferation of blockchain resources at scale yet. Reskilling developers from the traditional Web2 applications era to decentralized applications creates a big barrier to adoption and slows down the speed of execution.

Protocol management professionals

Typical legacy disciplines involve bodies of knowledge like project management and product management. A formal discipline like protocol management does not exist today, so many communities have embraced a blockchain protocol or two to rally their efforts around. Protocol management as a discipline has weak formations.

These informal networks of professionals have lacked the structure, rigor and discipline to produce the seamless ability to deploy scalable dApps between multiple protocols. It is difficult for individual developers to garner mass support and access to multiple communities for their specific dApp initiative. This creates scale and speed barriers to adoption.

Cryptocurrencies on balance sheets

Chief financial officers and the legal counsel of enterprises are still wary of owning cryptocurrencies and assuming the volatility risk on their balance sheets. Blockchain companies need to simplify or alleviate this issue by bridging fiat to crypto off the company’s balance sheet until regulations are clear and crypto as a market matures with reduced volatility. This barrier is difficult to eliminate for raw protocols, which require enterprises to take a leap of faith and are considered unviable.

Managing operational risk

Many new protocols first claimed to dismiss Ethereum Virtual Machine (EVM) in the name of newer and more innovative technologies. However, as the needs of enterprises unfolded, they wanted stability, scalability and interoperability. This has caused many protocols to invest in being EVM compatibility (e.g., Solana, Algorand, etc.). Enterprises are also reluctant to deploy bridges given the security issues around them.

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Overcoming obstacles

There is a myriad of options enterprises can adopt to overcome these obstacles:

Go low-code, no-code

Low-Code and no-code options have penetrated the enterprise market at a very rapid rate. It has shortened development cycles and enabled citizen developers to rapidly deploy applications. Programming languages around blockchain (e.g., solidity, rust, vyper, Haskell, etc.) are complex, not enterprise native and talent scarce. This is why low-code and/or no-code blockchain platforms are a possible solution.

Consider the factors of EVM-compatible blockchains

As mentioned earlier, EVM-compatible chains provide security, interoperability and scalability of assets and capital; however, they also lower the cost of acquiring developers. It can also harness Metcalfe’s law and Reed’s law, driving network effects and providing access to scale and liquidity.

The future is multichain

Most large enterprises have multiple cloud providers and blockchain is likely to pan out similarly, mirroring classic enterprise behavior. This will also make assets portable across metaverses and games, while allowing access to loans and collateral across multiple blockchains, thus potentially promoting broader adoption.

Pay in fiat

Until regulatory clarity is given, and the market matures to a point where enterprises are comfortable paying gas fees, it may be best to insist on fiat payments to providers, platforms and protocols.

Develop integrations

It is unlikely that Web3 will rip and replace Web2 in enterprises. Operating Web3 or blockchain projects in a silo is also not ideal. One must work with blockchains, integrating Web2 systems (e.g., CRM, ERP, identity, etc.), to optimize adoption and make Web2 and Web3 operate seamlessly.

Conduct adequate due diligence

Ensure the product or protocol vendor passes the scrutiny of commercial, operational, technical and human capital due diligence. Many (not all) enterprises are reluctant to assume risk from unlicensed actors such as miners and validators. Using blockchains with KYC-verified validators is also an option.

Invest in ecosystems

Developer tools, decentralized platforms, creator kits, system integrators, use cases, etc., are the ecosystem making adoption easier. Enterprises should look out for these technology accelerators to help achieve proper fit and ROI from public blockchains at scale.

Concluding thoughts

As blockchain gets ready for enterprise adoption, companies and projects must adapt to the rhythm and motion of enterprises. There are operational, commercial, technical and regulatory considerations that are different from the blockchain-only world. Blockchain companies and projects building only for Web3 may not find their product-market fit in the enterprise realm. Web3 and Web2 must work together to drive exponential value. Meanwhile, Web3 must get ready for Web2 to embrace it.

Nitin Kumar is a growth CEO and co-founder at zblocks. He is a recognized leader, author, former consulting partner and VC investor.


This article was published through Cointelegraph Innovation Circle, a vetted organization of senior executives and experts in the blockchain technology industry who are building the future through the power of connections, collaboration and thought leadership. Opinions expressed do not necessarily reflect those of Cointelegraph.

Learn more about Cointelegraph Innovation Circle and see if you qualify to join

Source

  • 07.09.23 16:24 CherryTeam

    Cherry Team atlyginimų skaičiavimo programa yra labai naudingas įrankis įmonėms, kai reikia efektyviai valdyti ir skaičiuoti darbuotojų atlyginimus. Ši programinė įranga, turinti išsamias funkcijas ir patogią naudotojo sąsają, suteikia daug privalumų, kurie padeda supaprastinti darbo užmokesčio skaičiavimo procesus ir pagerinti finansų valdymą. Štai keletas pagrindinių priežasčių, kodėl Cherry Team atlyginimų skaičiavimo programa yra naudinga įmonėms: Automatizuoti ir tikslūs skaičiavimai: Atlyginimų skaičiavimai rankiniu būdu gali būti klaidingi ir reikalauti daug laiko. Programinė įranga Cherry Team automatizuoja visą atlyginimų skaičiavimo procesą, todėl nebereikia atlikti skaičiavimų rankiniu būdu ir sumažėja klaidų rizika. Tiksliai apskaičiuodama atlyginimus, įskaitant tokius veiksnius, kaip pagrindinis atlyginimas, viršvalandžiai, premijos, išskaitos ir mokesčiai, programa užtikrina tikslius ir be klaidų darbo užmokesčio skaičiavimo rezultatus. Sutaupoma laiko ir išlaidų: Darbo užmokesčio valdymas gali būti daug darbo jėgos reikalaujanti užduotis, reikalaujanti daug laiko ir išteklių. Programa Cherry Team supaprastina ir pagreitina darbo užmokesčio skaičiavimo procesą, nes automatizuoja skaičiavimus, generuoja darbo užmokesčio žiniaraščius ir tvarko išskaičiuojamus mokesčius. Šis automatizavimas padeda įmonėms sutaupyti daug laiko ir pastangų, todėl žmogiškųjų išteklių ir finansų komandos gali sutelkti dėmesį į strategiškai svarbesnę veiklą. Be to, racionalizuodamos darbo užmokesčio operacijas, įmonės gali sumažinti administracines išlaidas, susijusias su rankiniu darbo užmokesčio tvarkymu. Mokesčių ir darbo teisės aktų laikymasis: Įmonėms labai svarbu laikytis mokesčių ir darbo teisės aktų, kad išvengtų baudų ir teisinių problemų. Programinė įranga Cherry Team seka besikeičiančius mokesčių įstatymus ir darbo reglamentus, užtikrindama tikslius skaičiavimus ir teisinių reikalavimų laikymąsi. Programa gali dirbti su sudėtingais mokesčių scenarijais, pavyzdžiui, keliomis mokesčių grupėmis ir įvairių rūšių atskaitymais, todėl užtikrina atitiktį reikalavimams ir kartu sumažina klaidų riziką. Ataskaitų rengimas ir analizė: Programa Cherry Team siūlo patikimas ataskaitų teikimo ir analizės galimybes, suteikiančias įmonėms vertingų įžvalgų apie darbo užmokesčio duomenis. Ji gali generuoti ataskaitas apie įvairius aspektus, pavyzdžiui, darbo užmokesčio paskirstymą, išskaičiuojamus mokesčius ir darbo sąnaudas. Šios ataskaitos leidžia įmonėms analizuoti darbo užmokesčio tendencijas, nustatyti tobulintinas sritis ir priimti pagrįstus finansinius sprendimus. Pasinaudodamos duomenimis pagrįstomis įžvalgomis, įmonės gali optimizuoti savo darbo užmokesčio strategijas ir veiksmingai kontroliuoti išlaidas. Integracija su kitomis sistemomis: Cherry Team programinė įranga dažnai sklandžiai integruojama su kitomis personalo ir apskaitos sistemomis. Tokia integracija leidžia automatiškai perkelti atitinkamus duomenis, pavyzdžiui, informaciją apie darbuotojus ir finansinius įrašus, todėl nebereikia dubliuoti duomenų. Supaprastintas duomenų srautas tarp sistemų padidina bendrą efektyvumą ir sumažina duomenų klaidų ar neatitikimų riziką. Cherry Team atlyginimų apskaičiavimo programa įmonėms teikia didelę naudą - automatiniai ir tikslūs skaičiavimai, laiko ir sąnaudų taupymas, atitiktis mokesčių ir darbo teisės aktų reikalavimams, ataskaitų teikimo ir analizės galimybės bei integracija su kitomis sistemomis. Naudodamos šią programinę įrangą įmonės gali supaprastinti darbo užmokesčio skaičiavimo procesus, užtikrinti tikslumą ir atitiktį reikalavimams, padidinti darbuotojų pasitenkinimą ir gauti vertingų įžvalgų apie savo finansinius duomenis. Programa Cherry Team pasirodo esanti nepakeičiamas įrankis įmonėms, siekiančioms efektyviai ir veiksmingai valdyti darbo užmokestį. https://cherryteam.lt/lt/

  • 08.10.23 01:30 davec8080

    The "Shibarium for this confirmed rug pull is a BEP-20 project not related at all to Shibarium, SHIB, BONE or LEASH. The Plot Thickens. Someone posted the actual transactions!!!! https://bscscan.com/tx/0xa846ea0367c89c3f0bbfcc221cceea4c90d8f56ead2eb479d4cee41c75e02c97 It seems the article is true!!!! And it's also FUD. Let me explain. Check this link: https://bscscan.com/token/0x5a752c9fe3520522ea88f37a41c3ddd97c022c2f So there really is a "Shibarium" token. And somebody did a rug pull with it. CONFIRMED. But the "Shibarium" token for this confirmed rug pull is a BEP-20 project not related at all to Shibarium, SHIB, BONE or LEASH.

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