What problem does blockchain technology solve?

Blockchain project design generally has two purposes: one is to solve problems; The second is to set the chain for the chain, that is, to apply the blockchain technology itself and implement the blockchain project.

In the long run, blockchain projects designed to solve problems have a chance of survival and development. Blockchain projects need to provide solutions in terms of efficiency or equity. Therefore, to stand out, blockchain projects need to have several characteristics:

First, blockchain projects need to be able to solve the pain points of the industry and meet the needs and demands of users. From the perspective of efficiency, the project is applicable to the areas with high cost of trust, especially to the scenes involving multiple strangers that require high trust. In fact, from the current block chain see also confirmed that development situation, supply chain finance, asset securitization, cross-border payments, credit management, rights management, product traceability, and so on field application is more, their common characteristic is that there are participating and information opaque, or business process is longer than the information slower, need information real-time synchronization to eliminate or weaken the information asymmetry.

To be fair, blockchain is well suited to scenarios that require individual expression and validation of personal data.

d97dcb7022d778a5bf52f543e3a12857Second, blockchain projects should be easy to land. In May 2019, the famous consulting firm Gartner report that block chain applications in various industries tend to pragmatism, block chain technology in the field of global many vertical acceleration test and application trends, at the same time, 2019 block chain development enterprises will shift the focus to solve business problems directly, rather than a breakthrough.

Third, the blockchain project itself conforms to the logic of commercial development. In other words, blockchain projects are safe, stable and reliable; Have a clear business ecosystem and target ROI; Have effective governance model; Adequate financial support; At the same time, strong applicability, easy to obtain a large number of users to support, can form a large network effect.

Fourth, blockchain application is the simplest and cheapest solution to the problem. Heshu believes that one of the key principles for blockchain applications to grow is that they must start with a specific problem, and it must be the simplest solution available.

Scroll to Top