The power of blockchain in serving innumerable benefits has cause fear amongst companies. It is getting hard to trust and build confidence in the technology. There are concerns that exist around blockchain’s fidelity, agility, security, and scalability. Hence, causing a trust gap.

According to PWC, 45% of Global Blockchain Leaders believe trust could delay blockchain technology adoption.

A few strategies that a Global Blockchain Leader should plan to bridge the trust gap-

Make the business case

Most companies fear the exposure of sensitive information. First and foremost is to present a strong business case that can win the trust of the competitors involved. If it is a supply chain sector- present a problem and give them a blockchain integrated solution to make sure that they are not scared of the encryption.

Build an industry ecosystem

There are a plethora of participants involved in every sector. For a successful blockchain, you should consider collaborating with the competitors to solve industry problems. Also, remember that blockchain cannot work with one party.  To double its power, more players should participate together.

Determine the rules of engagement

Set rules and standards for the blockchain around which the participants will be able to access and engage. Building a strategic business model including decision making will be a great idea.

Navigate regulatory uncertainty

It is important to stay agile to meet regulatory requirements as they unfold in the years to come. The blockchain should be well-designed to eliminate the need for a central authority.

Confront risks early

It is important to confront the risks early but do not try to change the ideas. Rather, build confidence in the technology. Include cybersecurity, compliance, and legal and audit specialists to blockchain development teams.

Decision planning is the most crucial aspect while integrating blockchain technology. Who takes these decisions? Let’s answer this question. According to a survey by Deloitte, the key departments that are involved in the process are- IT (39%), business as a whole (39%), R&D (15%), Finance (6%), and other (1%).

Get certified with CBCA to become a credentialed global blockchain leader. Certifications take you ahead by polishing your knowledge of blockchain concepts, principles, and applications. They choose the best methodologies for enterprise adoption and address the challenges across industries. To enhance your industry knowledge, get certification and prove your worth in the market. Certifications provide you credibility and showcase your skill sets on various social media platforms. They give you recognition and you are always in demand by the employers.

Since blockchain is not easy as it may seem, certified global blockchain leaders can make the correct decisions in the big field of blockchain. Top companies today believe in the power of blockchain. Top companies like Facebook, Amazon, IBM, Microsoft, Met Life, American Express, and amongst others are all set to make use of this powerful technology. As a result, technical expertise will be high in demand. To make your place in the world of blockchain, get certified!