When it comes to giving credit to the blockchain, mix views are witnessed. While some accredit the blockchain for innovation, privacy and security, some oppose it for having very limited use cases. Apart from the debate on whether blockchain should be adopted or not, we need to shine some light on the prerequisites of blockchain which play an important role in the success of blockchain.
Cherie Aimée, ranked number six on top 100 most influential women in blockchain and the female leader of the year, introduced the concept of prerequisites of blockchain while talking to BlockPublisher. While stating a few use cases for blockchain, she warned about the significance of the prerequisites in her statement by telling about the consequences of missing out on prerequisites. She stated:
Blockchain will hit a wall if certain prerequisites are not met.
After that, when she was asked for the details on the aforementioned prerequisites, she explained:
When a network can focus on the constraint (aka leverage point) it can increase the overall flow of value of a network. Identifying the constraint + increasing the network’s value proceeds determining the blockchain solution required to validate the data. Without this process.
Blockchain is discussed and debated on several places but the aspect brought forward by Cherie is quite unique as blockchain’s evaluation is incomplete without considering the status of its prerequisites. Like in any other process where optimum results are guaranteed only if the environmental conditions are met according to the needs of the process, blockchain can efficiently deliver after its prerequisites are catered correctly.
Blockchain is striving at the moment to get itself marked as a successful technology. For achieving success, blockchain is expected to find more use cases and application. However, before examining the performance of blockchain, it is essential to recall the words of Claire which suggests that without taking care of prerequisites beforehand, blockchain does not stand much chance of prevailing.
