Drivers for Adoption

Technological advancements: Cloud, Virtual machine, Docker, dedicated ICs and cheap hardware and computing resources are enablers of Blockchain.

The major drivers for Blockchain's adoption in the enterprise are:

Security Threat: Increase in the number of attacks on centralised databases have raised concerns about the privacy of personal data in the hands of service providers. Security vulnerabilities of existing client server architecture are a major driver for a secure identity management solution.

Regulatory Requirements: Regulatory and legislative requirements such as GDPR makes Blockchain an imperative for Businesses dealing with sensitive data.

Business Opportunities: Blockchain technology allows new Business models to emerge. For instance: luxury goods producers can charge premiums based on proven authenticity and fair sourcing, restaurants can offer exact nutritional information to consumers. Even apparent constraints that Blockchain overcomes can become harbingers for new Business offerings: GDPR norm that requires enterprises manage personal data more responsibly is also an enabler for data mobility and new identity based services. Ability to adhere to strict regulatory compliance will become a competitive advantage for companies.