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11 Things Your CIO Needs to Know About Blockchain Today

By Simon Taylor, Director of Blockchain and Payments as well as a Co Founder at 11:FS.

Simon Taylor
Simon Taylor
Blockchain and DLT (distributed ledger technologies) are in the labs of most large banks and have been useful from a PR perspective.
But what next? What the hell should we actually be doing with this technology? Here are 11 things your CIO needs to know about blockchain / DLT so you your organisation doesn’t get left behind.

1) Build off a business case

Every consultancy and vendor now has a lab, a whitepaper, and a team of hundreds ready to build whatever DLT project you desire. Executives are rightfully suspicious of ‘solutions looking for a problem.’ Until someone presents a compelling business case, don’t progress. CIOs need to ask how a DLT initiative will drive value.

2) DLT can deliver real value

DLT by definition is most useful when you need to reconcile multiple sets of data across multiple organisations (or silos). Handily, this is a large part of banking operations. In addition, there is the potential to launch a wave of new products / services leveraging the unique power of smart contracts.

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