{"id":9653,"date":"2020-01-15T11:50:54","date_gmt":"2020-01-15T11:50:54","guid":{"rendered":"https:\/\/thedatascientist.com\/?p=9653"},"modified":"2023-08-28T08:20:09","modified_gmt":"2023-08-28T08:20:09","slug":"are-you-ready-blockchain","status":"publish","type":"post","link":"https:\/\/thedatascientist.com\/are-you-ready-blockchain\/","title":{"rendered":"How can you know you are ready for blockchain?"},"content":{"rendered":"\n<p class=\"has-medium-font-size\">Blockchain has been one of the hottest buzzwords of the last few years. <a href=\"http:\/\/thedatascientist.com\/icos-startups-market-models\/\" target=\"_blank\" rel=\"noreferrer noopener\">Initial Coin Offerings<\/a>, <a href=\"http:\/\/thedatascientist.com\/tokenomics\/\" target=\"_blank\" rel=\"noreferrer noopener\">tokenomics<\/a>, the crypto-bubble, dApps, Bitcoin and Ethereum, all these words have dominated a large part of our professional lives, for those of us who are involved in this space.<br><br>Blockchain is a powerful tool, but it is often misused. One of the most common issues with blockchain is that it is used to solve problems that could be solved through traditional relational databases. Other issues relate to using wrong <a href=\"http:\/\/thedatascientist.com\/agent-based-modelling-tokenomics\/\" target=\"_blank\" rel=\"noreferrer noopener\">tokenomics models<\/a>, choosing the wrong type of blockchain or not being aware of problems like scalability and speed of transactions.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/thedatascientist.com\/wp-content\/uploads\/2023\/07\/blockchain-1.png\" alt=\"\" class=\"wp-image-17657\" style=\"width:375px;height:196px\" width=\"375\" height=\"196\" srcset=\"https:\/\/thedatascientist.com\/wp-content\/uploads\/2023\/07\/blockchain-1.png 768w, https:\/\/thedatascientist.com\/wp-content\/uploads\/2023\/07\/blockchain-1-300x157.png 300w\" sizes=\"(max-width: 375px) 100vw, 375px\" \/><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>Read Write Commit Example Blockchain TypeOpen<\/strong>Public PermissionlessOpen to anyoneAnyoneAnyoneBitcoin, <a rel=\"nofollow noopener\" href=\"https:\/\/www.ethereum.org\/\" target=\"_blank\">Ethereum<\/a>Public PermissionlessPublic PermissionedOpen to anyoneAuthorised ParticipantsAll or subset of authorised participants<a rel=\"nofollow noopener\" href=\"https:\/\/sovrin.org\/\" target=\"_blank\">Sovrin<\/a>Public Permissioned<strong>Closed<\/strong>ConsortiumRestricted to an authorised set of participantsAuthorised ParticipantsAll or subset of authorised participantsMultiple banks operating a shared ledgerConsortiumPrivate Permissioned (\u201cEnterprise\u201d)Fully private or restricted to a limited set of authorised nodesNetwork Operator OnlyNetwork Operator OnlyInternal bank ledger shared between parent company and subsidiariesPrivate Permissioned (&#8220;Enterprise&#8221;)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Blockchain has been one of the hottest buzzwords of the last few years. Initial Coin Offerings, tokenomics, the crypto-bubble, dApps, Bitcoin and Ethereum, all these words have dominated a large part of our professional lives, for those of us who are involved in this space. Blockchain is a powerful tool, but it is often misused.&hellip;&nbsp;<a href=\"https:\/\/thedatascientist.com\/are-you-ready-blockchain\/\" class=\"\" rel=\"bookmark\">Read More &raquo;<span class=\"screen-reader-text\">How can you know you are ready for blockchain?<\/span><\/a><\/p>\n","protected":false},"author":7,"featured_media":9655,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"neve_meta_sidebar":"","neve_meta_container":"","neve_meta_enable_content_width":"","neve_meta_content_width":0,"neve_meta_title_alignment":"","neve_meta_author_avatar":"","neve_post_elements_order":"","neve_meta_disable_header":"","neve_meta_disable_footer":"","neve_meta_disable_title":"","_ti_tpc_template_sync":false,"_ti_tpc_template_id":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","_wpscppro_custom_social_share_image":0,"_facebook_share_type":"","_twitter_share_type":"","_linkedin_share_type":"","_pinterest_share_type":"","_linkedin_share_type_page":"","_selected_social_profile":[]},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.0 (Yoast SEO v22.5) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How can you know you are ready for blockchain? - The Data Scientist<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thedatascientist.com\/are-you-ready-blockchain\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How can you know you are ready for blockchain? - The Data Scientist\" \/>\n<meta property=\"og:description\" content=\"Blockchain has been one of the hottest buzzwords of the last few years. Initial Coin Offerings, tokenomics, the crypto-bubble, dApps, Bitcoin and Ethereum, all these words have dominated a large part of our professional lives, for those of us who are involved in this space. Blockchain is a powerful tool, but it is often misused.&hellip;&nbsp;Read More &raquo;How can you know you are ready for blockchain?\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thedatascientist.com\/are-you-ready-blockchain\/\" \/>\n<meta property=\"og:site_name\" content=\"The Data Scientist\" \/>\n<meta property=\"article:published_time\" content=\"2020-01-15T11:50:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-28T08:20:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/thedatascientist.com\/wp-content\/uploads\/2023\/05\/blockchain_Technology.gif\" \/>\n\t<meta property=\"og:image:width\" content=\"1540\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/gif\" \/>\n<meta name=\"author\" content=\"Dr. Stylianos (Stelios) Kampakis\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@s_kampakis\" \/>\n<meta name=\"twitter:site\" content=\"@s_kampakis\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dr. Stylianos (Stelios) Kampakis\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/thedatascientist.com\/are-you-ready-blockchain\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/thedatascientist.com\/are-you-ready-blockchain\/\"},\"author\":{\"name\":\"Dr. Stylianos (Stelios) Kampakis\",\"@id\":\"https:\/\/thedatascientist.com\/#\/schema\/person\/787881a641bab92a8a46fcb198f9f6ba\"},\"headline\":\"How can you know you are ready for blockchain?\",\"datePublished\":\"2020-01-15T11:50:54+00:00\",\"dateModified\":\"2023-08-28T08:20:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/thedatascientist.com\/are-you-ready-blockchain\/\"},\"wordCount\":179,\"publisher\":{\"@id\":\"https:\/\/thedatascientist.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/thedatascientist.com\/are-you-ready-blockchain\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/thedatascientist.com\/wp-content\/uploads\/2023\/05\/blockchain_Technology.gif\",\"articleSection\":[\"Blockchain\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thedatascientist.com\/are-you-ready-blockchain\/\",\"url\":\"https:\/\/thedatascientist.com\/are-you-ready-blockchain\/\",\"name\":\"How can you know you are ready for blockchain? 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