Blockchain Consortium: Top 20 consortia you should check out

Blockchain Consortium: Top 20 consortia you should check out

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Blockchain Consortiums are different to normal public or private (single user) blockchains. Blockchain Consortiums are maintained by a number of users (typically a group of organisations): it is still a permissioned blockchain but one with a decentralised structure, but is a much more collaborative environment.

There are a number things that a Blockchain Consortiums can offer to your organisation, they can often provide significant cost savings for the users as well as low transaction fees, significantly reduced criminal threat, and a regulatory environment.

There are a few different types of Technology focused Blockchain Consortiums which means the they are reusable. They are Business focused where the blockchain is designed specifically to tackle a business issue and Dual focused where the blockchain offers a hybrid solution of both Business focused and Technology focused.

A Deloitte study of 1386 organisations shows what benefits organisations expect the most from Blockchain Consortiums, the top three were: Cost Savings, Accelerate Learning and Risk Sharing.

Benefits organisations are expecting from Blockchain Consortiums
  • Cost Savings – 57%
  • Accelerate Learning – 55%
  • Sharing Risk – 47%
  • Build Critical Mass of Adoption – 45%
  • Maintaining Relevance/Lifespan – 42%
  • Influencing Standards – 42%
The study also examined the criteria that the same organisations were using to select their Blockchain Consortiums
  • Aligned Objectives – 41%
  • Quality of Other Members – 37%
  • Evidence of Influence – 36%
  • Opportunity to Influence – 36%
  • Affordable Cost of Participation – 36%
  • Regulatory Involvement – 36%
  • Membership Policies or Rules – 35%
  • Maturity – 34%
  • Well-Funded – 34%
  • Governance – 30%
  • Non-profit or For-Profit – 23%
Top 20 Blockchain Consortia

A Blockchain Consortium can provide a plethora of benefits for an organisation so investing in one could be very valuable for business and for procurement provides a collaborative forum to be able to develop procurement blockchain solutions.


For more on blockchain, read more here. 

Lance Younger. CEO, ProcureTech

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