Why Proof of Concept is important for Blockchain Technology?

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Why Proof of Concept is important for Blockchain
Technology? Every projects need a proper plan and
you need to document it when you are about to
take a dive in any innovative technology.
Likewise, Proof of Concept of a Blockchain-based-
application or any other application is
necessary to prove that how the potential product
will do.
What is Proof of Concept? According to
techopedia, Proof of Concept (PoC) is a
demonstration, the purpose of which is to verify
that certain concepts or theories have the
potential for real-world application. PoC is,
therefore, a prototype that is designed to
determine feasibility, but doesnt
represent deliverables. Curating a PoC can help
the product owner to identify gaps that might
obstacles the success. It also offers the
opportunity to request internal feedback to
reduce the unnecessary risk. As blockchain
technology is fairly new to the world.
Understanding its different aspects is necessary
before any company or stakeholder get into it.
Most of the Fortune 500 companies already
started Research and Development in blockchain
proof of concept after exploring the use cases
for their own business operations and for users.
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• A Gartner survey revealed that 66 of CIOs and IT
  leaders believe blockchain technology
  development will create business disruption and
  have established budgets to experiment with the
  technology.
• Advantages of PoC in any project development
• It acts as a tool which shows the feasibility of
  the project
• Recommends a variety of testing tools and
  techniques to develop projects with consistency
  Save time and cost-effective
• A complete report on project evaluation Reliable
  to supply the test case design
• Helps to receive feedback from various
  stakeholders
• How to start?
• Focus on the major Business problem A genuine
  blockchain project must focus on the real
  business problem which one can be addressed and
  solved.
• Start small Restrict yourself from developing
  something big, start with a small project idea.
• Plan carefully Dont underestimate the
  challenges of developing blockchain products.
  Check everything and plan carefully.
• Involve different department Involve your tax
  and legal team to maintain the changes the
  blockchain project may require.

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