scope:

ABSTRACT

This research paper was commissioned by NEMA in 2019 as a strategic initiative to develop technical industry guidance that is applicable and relevant to NEMA members. Specifically, the paper will serve to educate member companies about blockchain, to share its applications across NEMA industries, and to recommend guidelines and principles for moving forward with blockchain technology.

In order to help member companies to develop a better understanding of enterprise blockchain, the first section describes some common definitions, characteristics, and implications of blockchain on businesses. This section also dispels a few myths about blockchain and why they are not relevant to enterprise blockchain.

The next section explores many blockchain use cases. More importantly, real examples are included to demonstrate how blockchain technology is being used today and validating its status as production-ready. These examples provide insights into how blockchain can provide competitive advantages to businesses.

The paper concludes with guidelines and strategies for moving forward with enterprise blockchain, including recommended steps for those who want to lead the transition and capture an outsized share of value.