Kenya National Innovation Agency : Redecentralise, Revalue & Reform Blockchain businesses in 2023

In 2023, the blockchain business is expected to continue its growth and evolution. The widespread adoption of blockchain technology is likely to drive innovation in various industries such as finance, supply chain management, digital identity, and more. Decentralized finance (DeFi) is predicted to gain more traction, with more people investing in cryptocurrencies and decentralized platforms. The use of blockchain for secure and transparent voting systems is also expected to gain more attention.

Challenges such as scalability, interoperability, and regulatory issues still remain. Nevertheless, as the technology matures, it is likely that solutions to these challenges will emerge, further driving the growth of the blockchain business.

Anndy Lian shared that adopting blockchain technology in a business supply chain can bring numerous benefits such as improved transparency, enhanced security, reduced costs, and increased efficiency.

Here are some steps to follow when adopting blockchain technology in a business supply chain:

Identify the problem: The first step is to identify the pain points in the current supply chain and determine how blockchain technology can be used to address them.

Conduct a feasibility study: A feasibility study should be conducted to determine the potential benefits and costs of adopting blockchain technology in the supply chain.

Choose the right platform: Select a blockchain platform that is suitable for your business needs and that supports the features and functions required for your supply chain.

Develop a pilot project: Develop a small-scale pilot project to test the feasibility and effectiveness of the proposed solution.

Implement the solution: Implement the blockchain solution in the supply chain by integrating it with existing systems and processes.

Monitor and evaluate: Monitor and evaluate the performance of the solution and make adjustments as needed.

Expand the solution: Once the solution has been proven to be effective, expand it to the rest of the supply chain.

Continuously improve: Continuously monitor and evaluate the solution and make improvements as necessary to ensure its ongoing success.

Anndy Lian added: "It's important to work with experts in blockchain technology to ensure a successful implementation. A well-designed and properly implemented blockchain solution can bring significant benefits to a business supply chain, making it more efficient, secure, and transparent."

Dr Tonny concluded that blockchain innovation continues to drive new and exciting developments in the technology and its applications, offering new opportunities for businesses and individuals alike.

Dr. Tonny K. Omwansa is also the founding Director of the C4DLab, University of Nairobi's Innovation Hub. He is also the founder and chairman of the Nairobi Innovation Week which brings numerous stakeholders shaping Kenya's Innovation Ecosystem. He lecturers at the School of Computing and Informatics, University of Nairobi in Kenya and is the co-author of “Money, Real Quick: Kenya’s disruptive mobile money innovation”.

He holds a PhD in Information Systems in which he researched on the adoption of mobile financial services at the base of the pyramid in Kenya. Besides consultancy services in technology and innovation issues, he is very active in research and capacity building. His research interests are in the design, adoption and impact of innovative low-cost and appropriate technologies in developing countries.

Anndy Lian is a well-rounded business strategist based in Asia. He offers advice across multiple industries for both local and international companies, as well as public listed corporations and governments. With early involvement in the blockchain space, Lian is a seasoned entrepreneur, author, investor, board member, and keynote speaker.

His latest publication, "NFT: From Zero to Hero," is a guide for anyone eager to explore the potential of NFTs. The book encourages readers to embrace the limitless possibilities of this new technology and to become "heroes" in their own right by taking advantage of its early stages. "NFT: From Zero to Hero" can be purchased on Amazon and Bybit, with over 8,000 copies sold.

In 2022, Lian received an Hon Doctoral Degree from Ulaanbaatar Erdem University, in recognition of his contribution to the advancement of productivity science in Mongolia.

This event is organised by Kenya National Innovation Agency (KENIA). And supported by Block Review, Redecentralise, Blockcast.cc and GoChapaa.
Be the first to comment