In building a blockchain platform-centric business network, it is very important to define and build a network with operational efficiencies for sustainability. In our previous post, we discussed how important trust is to build these networks and the key role blockchain plays to enable trust and transparency for all participants. We also laid out the four dimensions which are key considerations to building effective business networks.
To be
successful, business platforms must focus on all four of these dimensions —
business, operations, legal, and technology (BOLT) — at the same time from the
early stages of development. We want to take this opportunity to look at the
operations dimension in more detail.
In building
blockchain platform-centric business networks, operability plays a key role in
the success of the blockchain business network execution. Most of the time user
reflection about the network is based on its operability. Hence, it is
paramount important to define and build operational efficiencies right from the
beginning.
1 Participant: Network impact is based on more participants and more transactions on the network
It is
important to have a well-defined step-by-step process to enable the organization
to onboard and off-board onto the network for both direct and indirect
participants. This includes the need to categorize the participating
organizations to assess their complexity and onboard them to both network and
application components. You should focus on automating the processes to make them
robust, safe, easy, and quick.
2 Day two operations: The second day
after deployment is critical for a go-live network
Define and
execute a network operating model for both business and technical teams that
cover a comprehensive network principle, technical administrative tasks,
business operations, and a commercial model for operationalization. Also,
define and execute security standards like considerations for identifiable and
verifiable participants and access control with certificate configuration.
3 Support model: A robust support
model avoids business disruption
The support
model should focus on both business and technical perspectives. Defining and
executing end-to-end solution monitoring includes a consolidated log for your
blockchain platform, applications, and services. Implement an automated way of
log segregation, analysis, and proactive alerts and actions. Also, create and
execute a monitoring dashboard to enable service management for all managed
services, application components, and business metrics.
Planning
your operations perspective right from day two support to business technology
expandability and scalability is the key to success in running and maintaining
your blockchain business network.
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