While blockchain may have moved beyond the proof-of-concept phase this year and into limited production systems, that doesn’t mean companies watching from the sidelines should plow ahead with their own deployments.
But neither can they afford to sit idly by.
“You can’t catch up on innovation. If you wait until things have settled down, it may be too late,” said Forrester Research principal analyst Martha Bennett.
Speaking at Forrester’s New Tech & Innovation Conference, Bennett said public and private organizations must first determine what business processes blockchain distributed ledger technology (DLT) can address – and those to which it cannot be applied.
“Nothing is being revolutionized today from an enterprise perspective,” Bennett said. “Quite frankly, it is a wild west out there. When you make comparisons with the early internet, which a lot of people do, there are indeed some parallels in that we really don’t know where this is going to go yet. But that doesn’t mean we shouldn’t engage with it today.”