Advancement in cryptography and distributed computing over last several years, has led to the advent of blockchain and cryptocurrencies. These technologies have the potential to fundamentally change how transactions take place in a digitally connected world.
Enterprise blockchain is a multi-tiered technology platform which has the potential to orchestrate the behavior of firms, their consumers, their value chains, and regulators based on a series of transaction contained within a distributed ledger. Blockchain potentially creates new opportunities for increased engagement between adopting organizations, and their suppliers, customers, regulators, and competitors to interact within a distributed system built to drive increased value chain efficiency and reduce production costs.
Unlike traditional enterprise software which are localized to a single enterprise, Blockchain technology is driven by robust partnerships and ecosystems made up of independent network actors.
To assist organizations with understanding Blockchain and its role in their organizations, Avasant has setup the Blockchain Practice Group. The group works with all practice areas of Avasant including Strategy, Digital and Transformation as well as Legal and Governance. The Blockchain Group draws upon:
Deep experience of Avasant consultants across technology as well as domain and industry specific insights.
Legal expertise of Avasant Law – providing insights on regulatory aspects as well as smart contracts.
An ecosystem of solution providers and technology companies to assist in POCs and implementations through Avasant Labs
We offer a range of consulting services which encompass the entire value chain of blockchain strategy for an organization. We help enterprises in building their DLT or blockchain strategy, developing proof of concepts for relevant use cases and solution design, implementation & governance strategy including risk and change management.
Leveraging blockchain technology to create disruptive ecosystem wide solutions that support value chain competitiveness
Avasant’s blockchain assessment helps organizations identify opportunities for blockchain initiatives across business units, their customers, as well as provider and regulatory stakeholders. Avasant’s extensive experience in business process engineering enables us to support our clients in fundamentally reimagining their core operations and utilize blockchain solutioning which drives the best business outcomes in process cost, efficiency, and quality.
Identify opportunity areas in the value chain of organizations
Conduct Blockchain Opportunity and Readiness Assessment
Determine business impact and operational risks to adoption of blockchain technology
Develop enterprise Blockchain strategy & deployment plan
Blockchain Proof of Value
Discover key opportunities for leveraging Blockchain technology to drive business outcomes
Avasant uses a robust methodology to assess the impact of adoption in key operational areas, and demonstrate the potential value of enterprise blockchain adoption using strategic pilot implementations.
Avasant’s experience in developing Centers of Excellence enables us to effectively assess, explore, analyze and drive the implementation of multi-stakeholder blockchain POCs across the enterprise value chain.
Identify and select use cases for proof of concept
Evaluate and select Blockchain toolsets and implementation partners, and ecosystem peers
Support the rapid implementation of proofs of concepts
Analyze realization of value for PoCs implemented
Blockchain Solution Design
Understand the key success drivers and outcomes of potential Blockchain investments
Avasant assesses the capabilities of different digital service providers, interest level of ecosystem partners, identifies potential implementation risks and roadblocks, and provides a strategic roadmap to minimize transition and integration risks which aligns the interests of key stakeholders to help achieve the optimal outcomes.
In addition, Avasant helps firms to identify which key existing public blockchain platforms, consortiums and external partnerships should be integrated as part of their wider blockchain strategy to drive additional organizational value.
Assess, select and prioritize enterprise-wide use cases
Design an enterprise Blockchain solution covering people, process, operating model & technology
Assess risks related to compliance, regulatory norms and cybersecurity and build a risk mitigation plan
Develop an implementation roadmap
Solution Build and Governance
Ensure alignment between Blockchain initiatives and business outcomes
Avasant’s Blockchain governance provides the end-to-end implementation and ecosystem development support required to ensure the successful execution of blockchain initiatives. Avasant ensures that Service Providers, Internal Stakeholders, and Partners are effectively delivering on the promised services, and that the solution is implemented as designed, and that the milestones and desired KPIs are being met.
In addition, as the Blockchain ecosystem evolves and grows, Avasant can work with key internal and external stakeholders refine key governing criteria, and enable changes to the implementation that would enable maximum return for ecosystem stakeholders, and support evolving regulatory mandates.
Develop the enterprise blockchain solution and perform the implementation
Provide solution implementation execution support, perform the transition management to the target state
Perform change management for various stakeholders and drive communications
Monitor performance and track ROI
Develop a framework for ongoing governance
We believe the well-rounded approach will enable our clients to leverage a holistic approach to evaluating the use cases of blockchain of their environments. Some of the questions we assist our clients with include:
What is Blockchain and how do I learn more about it?
What are the potential use cases for Blockchain in my organization?
How do I go about implementing it?
How do I mitigate and manage the risks with Blockchain?
What is the business case for Blockchain?
What does Blockchain mean for my organization or service area?
How do I select the right use case for a PoC?
Is my organization ready for it?
What are the risks and challenges to adopting Blockchain?
How do I manage change and governance associated with implementing a Blockchain solution?
Avasant’s modular approach to Blockchain advisory helps clients navigate the entire life cycle from Blockchain business case and strategy to implementation.