Commercial judgement.
WHAT TO ESTABLISH FIRST
What problem is being solved.
WHAT TO ASK SECOND
Whether the technology is necessary to solve it.
WHAT THE HONEST ANSWER USUALLY IS
No.
WHAT THAT DOES NOT MEAN
That there are no genuine applications.
WHAT THE GENUINE ONES SHARE
Several parties without mutual trust No acceptable central authority Value or records that must move between them A cost currently borne by intermediation
WHAT TO EVALUATE
Whether participants will actually adopt it Whether the economics work at realistic volume What regulatory obligations arise What happens if the network becomes expensive or congested
WHY ADOPTION MATTERS MOST
A shared ledger with one participant is a database.
WHAT TO PILOT
The smallest version proving the value.
WHAT TO MEASURE
Whether it changes outcomes, not whether it works technically.
WHAT TO BE CAUTIOUS OF
Vendors whose business is selling blockchain projects Proposals justified by innovation rather than outcome Timelines that ignore regulatory work
WHAT TO ASK FOR
Comparable deployments, and permission to speak to them.
WHAT TO PREPARE
An honest assessment, including recommending against it where warranted.
