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Blockchain Series: Blockchain Implementation Challenges (PowerPoint PPT)
PowerPoint (PPT) 17 Slides FlevyPro Document
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What is Blockchain Technology?
Blockchain Technology has gained incredible appeal recently across many industries, mostly notably in Banking due to the rise of Bitcoin. It provides numerous process benefits through disintermediation, including efficiency, security, transparency/openness, low cost, data integrity, among others.
This presentation is the second in a series of frameworks related to explaining Blockchain Technology. It highlights the 6 main challenges that obstruct Blockchain implementation:
1. Lack of Awareness
2. Organizational Barriers
3. Change in Culture
4. Cost and Inefficiency
5. Regulation and Governance
6. Security and Privacy
The World Economic Forum (WEF) predicts at least 10% of the global GDP will be stored in Blockchain Networks by 2025.
This PPT delves into the intricacies of Blockchain Technology, providing a comprehensive definition and exploring the concept of disintermediation. It explains how Blockchain operates as a distributed ledger, ensuring data integrity and security through redundancy and decentralization. The presentation contrasts public and private Blockchains, highlighting their respective advantages and use cases.
The key challenges of Blockchain implementation are thoroughly examined. Lack of awareness and understanding within industries is a significant barrier. Organizational barriers, including politics and communication issues, hinder collaboration. The cultural shift required for decentralization is another major hurdle.
Cost and inefficiency are critical concerns, as Blockchain's redundancy increases expenses. Regulatory and governance issues add complexity, with the technology's reduced oversight posing challenges. Security and privacy remain paramount, given the shared nature of Blockchain data. This document offers valuable insights for executives navigating these challenges.
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Source: Best Practices in Digital Transformation, Blockchain, Bitcoin PowerPoint Slides: Blockchain Series: Blockchain Implementation Challenges PowerPoint (PPT) Presentation, LearnPPT Consulting
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