Introduction Since its advent, the Blockchain technology has created a lot of buzz around various industries. Blockchain technology is of...
Let’s face it, the speed and scale of Blockchain adoption has been remarkable over the past few months. Although it’s yet to reach its tipping point, it has barely dwindled despite the fall of the crypto market. Regardless of getting substantial traction among developers worldwide, the needle hasn’t really moved much in terms of its adoption.
What could be the possible reason for that? The appropriate answer is lack of awareness among people and non-availability of comprehensive Blockchain consulting services. According to a recent report, most Blockchain implementations fail because of less effective yet affordable Blockchain consulting services available. Companies around the world are leaving no stone unturned to tap into the new trend of decentralization; however, it doesn’t seem to be working for each one of them. If truth be told, Blockchain is more of a temperament hurdle than a technological one. The sooner organizations realize this fact, the better off they will be.
Besides that, there’s another common misbelief among people, i.e. “Blockchain is not ready for production systems because of issues related to scalability, security, and privacy of transactions”, which is not true at all. To tell the truth, Blockchain technology is best suited for situations where trust, transparency, immutability, and integrity need to be assured in a cost-effective and efficient way.
Although there are a significant proportion of companies that are yet to adopt Blockchain technology, many of them have already included it in their service offerings and started building decentralized proof of concepts (POCs) for diverse project types.
Below are the top five reasons why it is crucial to employ the consulting services of a top-tier Blockchain service provider in order to drive substantial return on investment for your project. So, without any further ado, let’s dive right in.
1. Improved Customer Focus
This is one of the biggest benefits of Blockchain consulting. Not only will it help you grow and scale your business productivity, but also keep your customers & prospects engaged with your brand without letting them slip away. Added to that, it also helps you redefine your business processes & standards to the benefit of the customer.
Let’s explain this with a real-world use case recently introduced to the airline industry. Suppose you’re a customer, and your flight is delayed for more than thirty minutes. In that scenario, the airline would allow you to claim compensation for the inconvenience caused. And this claim would be processed right away without any further delays or hindrances. All of this is possible because of Blockchain technology. The airline company’s Blockchain network will access the flight information in real-time and release the payment at the appropriate time.
Hence, a Blockchain powered automated process can help you instantly gratify your customers and forge deeper connections with them.
2. Accurate Market Analysis
Analyzing the marketplace for current industry trends and market movements is another crucial aspect of comprehensive Blockchain consulting. An unswerving Blockchain development company can help you gather crucial data and insights about your target market, helping you better understand the industry needs and make the most informed decisions possible. Blockchain consultants understand the marketplace thoroughly and are acutely aware of the latest industry trends, which helps you make the right choices for your business.
Below are a few important questions that you must get answered from your Blockchain consultant to ensure that you’re heading in the right direction:
- Is my target market ready for Blockchain adoption?
- Who will I be competing with to reach my prospects?
- Is my target market tractable enough?
- What would be the benefit of expert assistance in doing market research?
3. Guaranteed Successful Implementation
Any knowledgeable or reputed Blockchain consultancy firm would meticulously guide you through the ins and outs of Blockchain – especially the ones which you find difficult to understand. Not only they have studied the nitty gritty of this disruptive technology, but also have a proven track record of building quality Blockchain applications for a wide range of industries.
No matter what your requirements are, an expert Blockchain consultant can walk you through the entire Blockchain application development process, from ideation and assessment to integration and review. Besides that, they very well understand how the industry works and can help you predict various roadblocks which you may encounter down the line, making sure you don’t miss any important steps along the way.
However, there are a few important questions which you need to ask your Blockchain consultant to ensure successful Blockchain implementation, which include:
- What are the steps involved in the Blockchain project implementation?
- Whether your use case is feasible with Blockchain?
- Which is the right Blockchain platform for your use case?
- Whether to use permissioned or public Blockchain for your project?
- How smart contracts are implemented?
If a person or agency has suitable answers to all these questions, then you can go ahead and consider hiring them for your project. An ideal Blockchain consultant would first analyze your needs and then provide you with the essential technical expertise to build your solution in a safe and reliable way.
4. Enhanced Efficiency and Tracking
By acquiring professional consulting services of a reputed Blockchain development company, you can effectively track the provenance and flow of your products in real-time, thereby building trust, transparency, and traceability throughout the supply chain. This is paramount for ensuring that your business is running as efficiently and smoothly as possible. After all, if your company products are delivered to your customers on time and in perfect condition, your cash flow will see a significant boost. Besides that, you can also check if there are any issues with your assets during their lifecycles, and thus take the essential steps to manage them more effectively.
To conclude, Blockchain consultants are the trendsetters and the real solution architects who are responsible for setting up a robust, secure Blockchain network. Although their demand is still in its preliminary stage, there’s no denying that the current year will witness their dependency and growth on a much greater scale.
Got a Blockchain project up your sleeve? Before you go all-in on that, it’s important to do proper research in order to find the right Blockchain consulting firm to help you on your way. Well, your search ends here at Debut Infotech, a leading application development company in the Blockchain space having delivered a sundry of customized Blockchain solutions to clients across various industries, including Real Estate, Healthcare, Travel & Hospitality, Logistics, Manufacturing, and more. To team up with our dedicated team today to take your business operations to a whole new level, give us a call at 1-703-537-5009 or drop a line at email@example.com