Challenges with blockchain

Although blockchain has a great impact on the exchange of assets and reduces the operational costs for financial institutions, as is often the case, the hype creates a foggy structure and distracts from the potential business solutions and use cases. It is now important to understand some of the challenges that need great attention so that we can achieve a sustainable business model with blockchain-based applications. These challenges are as follows:

• Technology expertise: As per a 2017 Global Digital IQ survey, around 86% of finance executives said that their organizations have not developed the required blockchain skills. The lack of blockchain expertise in the global market leads to less attention regarding its potential business use cases and implementation methods. There are several combined programs to simplify and educate Blockchain for the entire community, however blockchain backend system still require expert hands with programming languages, such as Node...