DIGITAL TRANSFORMATION

Blockchain

A blockchain is, generally speaking, a database that is distributed among different participants, cryptographically protected and organized in blocks of transactions mathematically related to each other. In short, a decentralized database, which cannot be altered.

A fundamental element, in the Blockchain, is that it is a system that allows parties that do not fully trust each other to maintain a consensus on the existence, status and evolution of a series of shared factors.

Consensus is one of the keys to the blokchain, because it is the foundation that allows all participants in it to trust the information that is recorded in it. It is a fundamental aspect to transform many business sectors.

PARTES

What is the blockchain made of?

Cryptography

A procedure that, using an algorithm with a key (encryption key), transforms a message regardless of its linguistic structure or meaning, in such a way that it is incomprehensible, to anyone who does not have the secret key (decryption key) of the algorithm employee.

The blockchain or blockchain

Database designed for the storage of records made by users. All blockchains must act under the same protocol rules to validate the block, and the information collected, and incorporate it into the blockchain.

A consensus

The consensus is based on a common protocol that verifies and confirms the transactions carried out, and ensures their irreversibility.

The blockchain potentially creates new opportunities to generate greater engagement among companies, their suppliers, customers, regulators, and competitors to interact within a distributed system built to drive value chain efficiency and reduce costs.

We offer a range of technology-digital consulting services that cover the entire value chain of the blockchain strategy for a company..

Methology

PHASE 1

Blockchain business strategy

BusinessGoOn’s Blockchain Analysis helps companies identify opportunities for blockchain initiatives across all business units, their customers, as well as suppliers and regulatory stakeholders.

BusinessGoOn’s vast experience in business process engineering allows us to help companies imagine their core operations and use blockchain solutions that drive the best business results in cost, efficiency, and process quality.

Analyze and identify opportunities in the value chain of companies.
Carry out an evaluation of the opportunities detected and prepare the appropriate Blockchain.
Analyze operational risks and the impact on the company’s business, the implementation of Blockchain technology
Design the company’s Blockchain strategy, the necessary action plan and the subsequent implementation and monitoring.

PHASE 2

Blockchain pilot test

BusinessGoOn uses its own methodology to evaluate the impact of the Blockchain in the key operational areas of the company and in this way demonstrate the potential value of the implementation of the business blockchain through the systematic implementation of strategic Blockchain pilots.

BusinessGoOn’s experience allows us to effectively evaluate, explore, analyze and direct the implementation of the Blockchain, not only in the company, but in multiple stakeholders throughout the company’s value chain.

Analyze, identify and select Blockchain pilot tests.
Analyze, evaluate and select the set of necessary Blockchain tools, as well as the appropriate partners for the implementation.
Test, the veracity and reliability of the Blockchain pilot tests.
Check the correct implementation of the Blockchain pilot tests.

PHASE 3

Blockchain solutions design

BusinessGoOn, analyzes and evaluates the capacities of the different providers of technological-digital services, the level of interest of the ecosystem partners, identifies the possible risks of implementation and obstacles.

As well as, BusinessGoOn will provide a Strategic Road Map to minimize the risks of transition and integration that align the interests of the main stakeholders to help achieve the optimal results, in the required Blockchain solution.

BusinessGoOn helps companies identify which existing key public blockchain platforms, consortia and external associations should be integrated as part of their strategy to drive additional organizational value.

Analyze and select Blockchain implementation opportunities in the company
Design of a Blockchain business solution that covers and integrates people, processes, business operating models and technology
Analysis of risks related to complying with legal, regulatory and cybersecurity standards.
Creation of a risk mitigation plan.
Design of an action plan for the implementation of Blockchain.

PHASE 4

Direction and governance of the Blockchain solution

The governance and direction of Blockchain, BusinessGoOn provides the end-to-end implementation and ecosystem development support required to ensure the execution of blockchain initiatives.

BusinessGoOn ensures that service providers, internal stakeholders, and partners deliver on committed services, and that the solution is implemented as designed, and that desired milestones and KPIs are met.

Design, development of the Blockchain business solution and its implementation.
Provide support in the execution of the Blockchain implementation.
Carry out change management in the interested parties and coordinate the decisions between them.
Design and develop a Framework for the joint management and governance of the Blockchain solution.
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PHASE 5

Optimization and monitoring of the Blockchain solution

BusinessGoOn, as the Blockchain ecosystem evolves and grows, it can work with key internal and external stakeholders, redefine key governance and direction criteria, and enable implementation changes that enable maximum profitability for ecosystem stakeholders, and that the milestones and desired KPIs are met, as well as the return on investment.

Benefits

Disintermediation

Two parties can carry out an exchange without the supervision or intermediation of a third party, reducing or even eliminating the counterparty risk

Greater security and confidence

Blockchain builds a trusted environment in which the exchange of data is carried out through coded and encrypted operations, which allows safeguarding data exchanges and guaranteeing the security of all those involved.

Enabled Users

Users are in control of all their information and transactions.

High quality data

Blockchain data is complete, consistent, timely, accurate, and widely available.

Durability, reliability and longevity

Due to decentralized networks, blockchain does not have a central point of failure and is better able to withstand malicious attacks.

Process integrity

Users can trust that transactions will execute exactly as protocol commands eliminating the need for a trusted third party.

Tracking and Traceability

Each block in the chain stores information and the blocks are linked to each other. Thanks to this, organizations can more easily track information and process history permanently. This creates a traceability mechanism that can help organizations to track any single transaction.

Transparency

Changes to public blockchains are publicly visible to all parties creating transparency, and all transactions are immutable, meaning they cannot be altered or removed.

Ecosystem simplification

With all transactions being added to a single public ledger, the clutter and complications of multiple ledgers are reduced.

Higher speed

The absence of a central authority or intermediaries makes the information available to all participants in the on-site network. The simplification of the data transmission process carries inherent a greater speed in the management of any information, which allows companies to act faster. Blockchain transactions can reduce transaction times to minutes and are processed 24/7.

Lower transaction costs

By eliminating third-party intermediaries and overhead for exchanging assets, blockchains have the potential to greatly reduce transaction fees. The direct relationship between the systems and devices of the companies, through this technology, allows to automate the execution of the processes.