A look at the operations in blockchain-anchored business networks

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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