| Organizational requirement and readiness |
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Lack of understanding of benefits and technicalities involved.
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Limited knowledge of the complex technology
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Still an emerging technology and hence not many successful implementation references are available
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A perception that most problems can be solved using traditional information and database systems and there is no need for blockchain.
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| Data collection and management |
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Assuring integrity of input data is a difficult task
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Convincing all stakeholders to share information is a challenge
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Organization of such huge amounts of data and making an efficient use of it is a problem
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| Interoperability of systems |
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Multiple efforts are being taken in silos and various blockchain systems are being developed. Standardization of all these and ensuring a smooth interoperability is a must
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Otherwise it will make things very complicated and difficult instead of making it simpler.
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| Cost, security, privacy and legal concerns |
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Organization wide technology change and adoption is a costly and time consuming
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Privacy and security of models and data needs to be ensured as the technology is still very immature and vulnerable
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Regulatory uncertainty can cause a lot of unwanted complications
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Potential for organization wide hit if the system fails
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Blockchain should be applied selectively after weighing in the economics of implementation in terms of both cost and risk
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| Transition and integration of people, processes and technology |
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It is a huge change in all aspects of an existing business.
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Large numbers of stakeholders are involved and changing age old mind-sets, culture and work methodologies are a big issue.
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There can be conflicting objectives for different stakeholders.
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Intermediators involved at various levels might be eliminated which can create rifts.
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Uncertainty and lack of awareness hampers acceptance.
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A perception that block chain implementation might lead to loss of jobs
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