Five Stages of a Blockchain Implementation

Five Stages of a Blockchain Implementation

As a leader of your organization, you must consider different use cases regarding blockchain as a looming necessity for modernizing your technology.

Intel has recently launched a crypto-specialized chip as a “blockchain accelerator” to utilize for efficient data mining and minting NFTs; “Blockchain is a technology that has the potential to enable everyone to own much of the digital content and services they create… an inflection point in computing, fundamentally disrupting the way we store, process and transact our digital assets as we usher in the era of metaverse and Web 3.0.”

Onyx by J.P.Morgan is “the world's first blockchain-based platform for the exchange of value, information and digital assets.”

The Stages of Implementing Blockchain

Whether you are dealing with personal data, public data, digital content, collectibles, or other widgets for sale, the various solutions could be daunting.

As you begin your journey down the blockchain path for your organization, you have a few things to consider that will make this less overwhelming. Implementing a blockchain can be done in phases, starting with what you already have.

·       Step 1 – Web 2.0 - Do you have a Web 2.0 solution in place already? For example – do you have a current cloud based or on-premise online application that you are using for all of your existing use cases? If so, that means you have step one already covered!

·       Step 2 – The Architecture - Evaluate the blockchain platforms to pick one that works well with your user case. In this step, you just need to implement your wallet. This is the place where the user will obtain access to all the relevant data on their own components of your use case (think personal data, or your tokens that align with owning “something”).

·       Step 3 – The Wallet - Deploy your wallet and store your keys on the blockchain. You can use blob storage or secure storage to save your files, images, etc. You do not yet have to put everything fully in the blockchain yet.

·       Step 4 – The Blockchain - This is the step where you deploy full blockchain. You must pick if you want open source, private or public blockchain capabilities. For sensitive information, you might consider private and open source so that you maintain control. This is where you need to consult with a blockchain architect to design it properly.

·       Step 5 – Trusted Encryption Environment - This is the “final” level of maturity on the blockchain. You need hardware where you will do mining if you are doing an on-prem solution. You need to establish a trusted encryption environment and store everything in the blockchain. Choose wisely as you will have transaction charges, “gas charges,” or other licensing for some of the software components that go in a cloud solution. This is the most complex part of an implementation, and we advise that you connect with us to help.

We are in the middle of a global transformation driven by these technologies. Finding the right partner is important in ensuring that you do not miss the boat. Aptimized has a team of experts that can help you during each stage.

Call us TODAY for your free assessment at (888) 332-5310. Get started and get ahead early, only with Aptimized.

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