For an industry insider, it appears that the blockchain technology is making tremendous strides. Some might even say that it’s taking over the world. Unfortunately, the extensive research done by the Blockchain Technology Foundation volunteers suggests otherwise: out of 1200 operating officers polled by the BCTF volunteer research team, only fifty-nine have expressed actual interest in implementing the blockchain-based technology solutions for their respective businesses. That’s less than five percent.
However long a pause this development gives you, we actually consider it good news. The operating officers polled in the survey were carefully divided into groups by company profiles, the line of work, general interest in the blockchain technology, whether or not the company is currently experimenting or plans to research the technology’s applications further, and several other factors. Here is what’s interesting.
The BCTF team of volunteer researchers has concluded that the sectors of the economy soon to be impacted the most by the blockchain technology are exactly those that’s been heralded as the leading candidates for improvement through the use of the blockchain technology from the very beginning. In other words, the blockchain technology itself is choosing its disciples.
From the very beginning, the blockchain technology presented itself as an instrument of “saving the world,” so to speak, thus creating a reputation for itself as the technological Messiah of the 21st century. Today, our research shows, business people look at the blockchain as a very specific knowledge base suitable for a very specific type of business. To them, improving business practices through the blockchain applications doesn’t mean to apply it wholesale to everything. Virtually no operating officer of a business is looking to transfer the entire enterprise onto the blockchain. Businessmen are beginning to realize what the blockchain is not — it’s not a business platform or a company website, neither is it a universal remedy for failure. It’s a precision tool.
And the entrepreneurs who can appreciate its precision are mostly from the banking sector, accounting, manufacturing, agriculture, telecommunications, insurance, machine building, shipping, and, of course, the IT industry in the broadest sense of the term. But local businesses, small business owners, medical professionals, government structures, law enforcement, low-tech enterprise, brick and mortar stores, retail businesses — they just don’t see the potential yet, which is baffling, because the benefits of the distributed ledger technology for those types of vocation are evident and abundant.
Alas, the headlong jump into a life-changing experience is not something a skilled manager would be prone to. Overt cautiousness in regards to the blockchain technology is the mid-level management’s go-to approach today when it comes to discussing the prospects and possibilities of the blockchain. Many can’t reconcile their prior business experiences with what the new economy is going to require of them, and that’s where the BCTF can help by presenting its educational programs, social exchange and all the assistance from the regional BCTF offices necessary for the aspiring entrepreneurs to see the proverbial light.
Another problem with perceiving the blockchain for what it is is the lack of confidence in the ability to find personnel with the right skills for implementing projects on blockchains. Again, the BCTF is created with a specific goal of helping potential employers to find the right cadre when the time comes or to train the existing personnel without having to, shall we say, radicalize the human resources policies. Although some restructuring might be inevitable, based on data, the BCTF volunteer researchers are confident that the vast majority of businesses will transfer to the blockchain rails quickly and smoothly without any interruptions in operations.
But the grand fear is finding resources to accommodate growth. Change is intimidating, changing while growing is terrifying — anyone who’s ever been a teenager can confirm. The blockchain technology is still in its infancy but it’s growing rapidly and exponentially. The BCTF is here to help rein-in the fear of change and to fertilize the soil for further acceptance of the blockchain technology-based solutions throughout the world.