A blueprint for initiating business change using Blockchain

The latter half of 2015 was a rollercoaster ride for those involved in the Blockchain phenomenon. In the financial services sector there was a rush of activity in the innovation space to prove Blockchain capabilities.

You need a platform that provides the framework for rapid selection of Blockchain ideas and the subsequent prototyping. As this is such a new but rapidly maturing field (technology and business process) there can be significant internal challenges to getting a project off the ground.

Many service organisations rushed to release their Blockchain service or to introduce Blockchain into legacy processes to prove their capability. Most recently the industry is realising the true potential of Distributed Ledger Technology.

At GFT we have addressed this by creating a lean incubator to develop these ideas. When designing the incubator we agreed on topics such as funding and ongoing funding approvals, decision points, when to fail a project, business and technology mentoring and support for project teams. Deciding on this framework upfront avoids slowing down innovation later in the process.

This enabled GFT’s management to support cultural change and create an environment conducive to technology entrepreneurship.

To discuss this topic further, please get in touch with our specialist