Latest News
What is Blockchain Consulting and What are The Fundamental Blockchain Consulting services?
As a versatile and rapidly evolving technology, blockchain has empowered many industries with innovative and feasible use cases and decentralized solutions. While blockchain technology has already revolutionized the way businesses operate, many latest innovations await to be launched on its horizon, such as supply chain management, healthcare management, facilitating DeFi, and automating other financial infrastructures.
While there are several components of blockchains, blockchain consulting, being one of those components, appears to have a wide prospect. Let us now analyze blockchain consulting and explore its fundamental services.
What is blockchain consulting?
Blockchain consultancy is a strategy carried out by a consulting firm that helps enterprises assess the existing business solutions and raise their efficiency by powering them with blockchain technology. Blockchain consulting further assists enterprises to understand the benefits of blockchain technology, identifying the areas where blockchain can bring improvement, and scaling various approaches to drive value to the business. With that, the best blockchain consulting firm should offer the following services:
Workshop
A trusted blockchain consulting company initiates its blockchain consulting efforts with an informational webinar, bringing together blockchain experts and senior developers to impart in-depth knowledge to blockchain users and its potential use cases. These workshops help enterprises leverage blockchain opportunities and grow their business with relevant decentralized solutions.
Consultancy
All the participants- business unit leaders and blockchain experts closely evaluated the strategy created during the workshop and highlighted the best practices to benefit the business through blockchain technology. The consulting approach further involves the development of the economic model for the blockchain use cases, elimination of associated risks and implementation of the plans.
POC development
The next phase in blockchain consulting is the testing and demonstrating the blockchain-based strategies corresponding to the respective project’s potential. With PoC, a company helps its client understand how a blockchain use case will automate their business and how the ecosystem will generate further benefits.
Development
Once the blockchain firm understands the feasibility of the blockchain for the respective business use cases, it develops a detailed ecosystem development strategy and implementation plans to accelerate various development steps- deployment, testing and optimization. As per the business requirement, your business can get robust solutions developed on time.
What services should a good blockchain consulting company provide?
While numerous blockchain consulting companies serve worldwide, a company is considered the best consulting service provider if its services include the following blockchain consulting processes.
Conception
An ideal blockchain consulting firm discusses the feasibility of every blockchain project with experienced blockchain developers and scale-up further business goals to define the workflow for the entire business system.
Assessment
Suppose the respective business has some existing solution and the dApps to determine if the solution is a good fit to be migrated on the blockchain protocol. The blockchain consulting team also has proficiency in identifying the areas where improvement is required.
Demo
The blockchain consulting team examines the enterprises’ various technical aspects and identifies their business requirements to determine which blockchain protocol is suitable for developing feasible use cases.
Conclusion
Choosing the right blockchain consulting & development firm is essential for enterprises to ensure the 100% robustness of their blockchain project. For a complete range of consulting services, enterprises must pick a company that has a dedicated team with proficiency in technologies other than blockchains, such as big data, IoT, and artificial intelligence.
Umar Nisar was born and raised in the busy city of Abbottabad. As a journalist, Umar Nisar has contributed to many online publications including PAK Today and the Huffing Post. In regards to academics, Umar Nisar earned a degree in business from the Abbottabad UST, Havelian. Umar Nisar follows the money and covers all aspects of emerging tech here at The Hear Up.
Thanks
