Blockchain technology helps improve efficiencies in processes and helps in identifying new business opportunities.
Every big business today from finance to healthcare is scrambling to implement blockchain technology. On the business side it helps in creating value among users, whereas on the technical side it is like a distributed ledger which maintains multiple transactions stored in multiple locations which are visible at any given point in time and removes the need for an intermediary (banks in the case of Bitcoins). The distributed ledger ensures transparency and security at the same time.
To ensure that blockchain is seamless integrated with legacy systems like ERP, warehousing management system (WMS), manufacturing execution systems (MES), customer relationship management (CMS) etc it becomes imperative that Integration systems will have to play a key role in successful implementation of blockchain technology. It will also require Gateway and API management. Only then will a business reap success of blockchain technology.
The success or failure of blockchain in an enterprise will depend on middleware. Integrating different blockchain with each other and systems in real time using different technologies and communication protocol will be the key.
A lot of traction is seen for two blockchain framework. These are Hyperledger and Ethereum. A lot of businesses have now started taking the first step towards getting blockchain into their applications. IBM and Microsoft are offering blockchain technologies with integration into their other cloud services.
Blockchain by itself will not be important for users but it will be the key in the middleware applications. One of the key challenges with blockchain is running it on the system and due to security and governance requirements, integration plays a crucial role.
Adoption of blockchain is more of a business problem rather than a technological one. Integration is the easier decision to make. Changing a legacy system to adopt blockchain is not a viable solution.
Sharing data and collaborating with data is always a sensitive decision to make especially with blockchain. It’s one of the top decisions business struggle to make. Integration therefore will play a crucial role in fixing these issues.