Blockchain: Is it a hoax?  129

The following are some of the measures and steps that can be taken

to flourish the culture of ‘Always for the customer’ across the whole

organisation:

• Continuous road shows and town halls from senior management to

publicise the vision and mission statement.

• Transparency and road show from senior management on company’s

strategy.

• Mandatory training to make sure each employee understands the

company strategy to achieve its mission and vision.

• Business training for all employees with an achievement target under

their yearly objectives.

• Setting up key performance target (KPI) objectives for employees to

make a positive impact on customers.

Use of blockchain for wrong business problems

Over years, blockchain has become a buzzword to attract CIO-level atten-

tion. Sometimes even the inclusion of blockchain within the company’s

strategy can increase the stock price. This perception of blockchain as a

means to solve all business problems can lead to product failures and cost a

significant amount of budget.

In this section, we will go through some of the key issues that have led to

unsuccessful blockchain use cases.

Key issues surrounding blockchain project failures

Although blockchain brings multiple benefits, if it is used for inappropriate

use cases, it can have significant negative impacts like wastage of money,

resource time and also competitive disadvantages. The following are some

of the high-level issues and challenges that can lead to project failures.

Chapter 5 will go through a framework to assess if the blockchain use case

is a good fit for the business problem.

• Blockchain projects can deliver value when multiple entities are part

of the ecosystem to share a single version of the truth without any

single entity in control. Blockchain projects fail when there is a single

entity in the ecosystem and also they do not deliver any value.

• Blockchain projects also often die due to ecosystem management

issues and lack of funding.

• Blockchain projects can thrive value if they can create a consortium

with organisations with similar use cases and business interests. Lack

of collaboration within the industry can lead to project failure. It is