Chapter 16: Considerations for Blockchain Adoption and Integration

Previous chapters included discussions of the functionality of blockchain technology and its benefits to an organization under several different circumstances in concept. They also discussed how this desirability is based on specific attributes and characteristics that make the technology highly beneficial in some cases. These attributes include the fact that the technology is decentralized, synchronized, traceable, immutable, secure, scalable, collaborative, auditable, and programmable.

In broader terms, the data can be stored outside of the organization's internal network; it can easily accept new nodes and changes to the data can be traced back to the original authors. In addition, once the data are written, they cannot be changed and are highly encrypted for security purposes, the validity of the record must be agreed upon by all parties, and those transactions are each digitally signed. Finally, the entire system is customizable to the methods or processes of how the organization does business for each type of transaction.