158  Blockchain

Type of blockchain – selection decision tree

There are various types of blockchain and products available in the market.

The whole blockchain product innovation is growing continuously. It is

important for businesses to select the right blockchain technology as part of

the initialisation of the use cases. In this section, we will go through a set of

questions to gather the requirements and provide recommendations as well

as a decision tree to assist businesses to select the appropriate Blockchain

technology.

List of questions

• Do we have a business model with multiple globally distributed cus-

tomers without any trust between them?

If our organisation interacts and does business with multiple glob-

ally distributed customers who do not trust each other, then block-

chain technology could be a good fit.

A permissionless public blockchain could be a good choice for the

use case whereby an organisation business model deals with end cus-

tomers through the online interface. For instance, Ethereum could

be a good blockchain product to be used in this situation due to its

footprint on thousands of successful use cases with global distributed

use cases like NFT and many more.

• Does our business model highly rely on digital assets?

Businesses with a high proportion of digital assets within their busi-

ness model should review how blockchain could be used to create

business value. Depending on the business model, various types of

blockchains could be a good fit.

⚬

⚬Distributed end user customers globally: A public blockchain

could be a good technology to establish a use case whereby busi-

ness needs to provide transparency, security and trusted systems

without any central controlling authority.

⚬

⚬Group of organisations globally with similar interests and goals:

If a group of organisations interact with each other to conduct

business and have a lack of trust between each other, they should

establish consortium blockchain or hybrid blockchain.

⚬

⚬Organisation with global distributed departments: An organisation

with multiple distributed department or subsidiaries, who do man-

ual and repetitive work for similar interest or use cases must review

blockchain technology. A private blockchain (permissioned block-

chain) can provide multiple business values for such an organisation

by reducing the manual efforts and reuse the common components.

It can also provide a consistent data store to be used and shared

amongst various departments with transparency and security.