Build the Future Block by Block with Blockchain

 

“Blockchain, which is already appearing in experimental and small-scope projects, will be fully scalable by 2023” - Gartner.

Gartner also estimates that blockchain will generate $3.1 trillion in new business value by 2030. While a lot has been discussed on how to manage blockchain projects, I wonder if we could leverage Blockchain in our #futureofPMWork and why it may become a critical aspect of #futureofPMWork.

Death of the intermediary

A Blockchain is an expanding list of cryptographically signed, irrevocable transactional records shared by all participants in a network. Each record contains a time stamp and reference links to previous transactions. This makes the information is decentralized, there is no intermediary and anyone with access rights can trace back a transactional event, at any point in its history, belonging to any participant.

Secured platform: As projects become more and more connected exchanging data in the ecosystem ,Blockchain could be one of those system of trust to  ensure that the data is no tampered and securely exchanged in the ecosystem. 

With connected projects come stakeholders which are diverse and dispersed, in the #futureofPMWork, Blockchain could be leveraged for sharing scope, budget, in a private network. Such platforms can help simplify any issues that involve reconciliation, arbitration and intermediation, superior operational workflow for tracking elements of project, time, cost saving along with risk reduction.

Improved Governance: In the #futureofPMWork the workforce will be diverse and dispersed as well. When work is approved and delivered, a gig may transact an invoice, which in turn shall be approved by the project manager or the developer, in order to trigger another transaction or payment. Blockchain can be a means to an end in keeping all stakeholders responsible for their own deeds, validated and audited by their peers, so you don’t have to worry about mundane administration checks and balances.

Happier World: Happy teams lead to happy customers. Can Blockchain be leveraged for multi-peer communication be a source for happiness in the #futureofPMWork ? An environment conducive to interaction and exchange between peers and mentors can have a long-term ROI effecting a better relationship. On the customer front Blockchain can be leveraged to securely gather, store, trace emotional and sentiment information from multiple channels like social media, email, call centers to assess happiness of customer and take appropriate actions.

Do you envision of any other use case to leverage Blockchain in the #futureofPMWork ? If yes, don’t forget to leave a note here.

To know more

https://en.wikipedia.org/wiki/Blockchain

https://www.gartner.com/smarterwithgartner/the-4-phases-of-the-gartner-blockchain-spectrum

http://www.itweb.co.za/content/3mYZRXM9L157OgA8

Photo by André François McKenzie on Unsplash