Develop a Use Case for Smart Contracts | Info-Tech Research Group

Do not fill in this field

Enter no text in this field

Get Instant Access
to This Blueprint

Business Email

Full Name

Company

Phone

Job Title

Organizations today continue to use traditional and often archaic methods of manual processing with physical paper documents.
These error-prone methods introduce cumbersome administrative work, causing businesses to struggle with payments and contract disputes.
The increasing scale and complexity of business processes has led to many third parties, middlemen, and paper hand-offs.
Companies remain bogged down by expensive and inefficient processes while losing sight of their ultimate stakeholder: the customer. A failure to focus on the customer is a failure to do business.

Our Advice

Critical Insight

Simplify, automate, secure. Smart contracts enable businesses to simplify, automate, and secure traditionally complex transactions.
Focus on the customer. Smart contracts provide a frictionless experience for customers by removing unnecessary middlemen and increasing the speed of transactions.
New business models. Smart contracts enable the redesign of your organization and business-to-business relationships and transactions.

Impact and Result

Simplify and optimize your business processes by using Info-Tech’s methodology to select processes with inefficient transactions, unnecessary middlemen, and excessive manual paperwork.
Use Info-Tech’s template to generate a smart contract use case customized for your business.
Customize Info-Tech’s stakeholder presentation template to articulate the goals and benefits of the project and get buy-in from business executives.

Develop a Use Case for Smart Contracts Research & Tools

Start here – read the Executive Brief

Read our concise Executive Brief to find out why you should leverage smart contracts in your business, review Info-Tech’s methodology, and understand the four ways we can support you in completing this project.

Develop a Use Case for Smart Contracts – Executive Brief

1. Understand smart contracts

Understand the fundamental concepts of smart contract technology and get buy-in from stakeholders.

2. Develop a smart contract use case

Select a business process, create a smart contract logic diagram, and complete a smart contract use-case deliverable.

Workshop: Develop a Use Case for Smart Contracts

Workshops offer an easy way to accelerate your project. If you are unable to do the project yourself, and a Guided Implementation isn't enough, we offer low-cost delivery of our project workshops. We take you through every phase of your project and ensure that you have a roadmap in place to complete your project successfully.

Module 1: Understand Smart Contracts

The Purpose

Review blockchain basics.
Understand the fundamental concepts of smart contracts.
Develop smart contract use-case executive buy-in presentation.

Key Benefits Achieved

Understanding of blockchain basics.
Understanding the fundamentals of smart contracts.
Development of an executive buy-in presentation.

Activities

Outputs

1.1

Review blockchain basics.

1.2

Understand smart contract fundamentals.

1.3

Identify business challenges and smart contract benefits.

1.4

Create executive buy-in presentation.

Executive buy-in presentation

Module 2: Smart Contract Logic Diagram

The Purpose

Brainstorm and select a business process to develop a smart contract use case around.
Generate a smart contract logic diagram.

Key Benefits Achieved

Selected a business process.
Developed a smart contract logic diagram for the selected business process.

Activities

Outputs

2.1

Brainstorm candidate business processes.

2.2

Select a business process.

2.3

Identify phases, actors, events, and transactions.

2.4

Create the smart contract logic diagram.

Smart contract logic diagram

Module 3: Smart Contract Use Case

The Purpose

Develop smart contract use-case diagrams for each business process phase.
Complete a smart contract use-case deliverable.

Key Benefits Achieved

Smart contract use-case diagrams.
Smart contract use-case deliverable.

Activities

Outputs

3.1

Build smart contract use-case diagrams for each phase of the business process.

3.2

Create a smart contract use-case summary diagram.

3.3

Complete smart contract use-case deliverable.

Smart contract use case

Module 4: Next Steps and Action Plan

The Purpose

Review workshop week and lessons learned.
Develop an action plan to follow through with next steps for the project.

Key Benefits Achieved

Reviewed workshop week with common understanding of lessons learned.
Completed an action plan for the project.

Activities

Outputs

4.1

Review workshop deliverables.

4.2

Create action plan.

Smart contract action plan

About Info-Tech

Info-Tech Research Group is the world’s fastest-growing information technology research and advisory company, proudly serving over 30,000 IT professionals.

We produce unbiased and highly relevant research to help CIOs and IT leaders make strategic, timely, and well-informed decisions. We partner closely with IT teams to provide everything they need, from actionable tools to analyst guidance, ensuring they deliver measurable results for their organizations.

What Is a Blueprint?

A blueprint is designed to be a roadmap, containing a methodology and the tools and templates you need to solve your IT problems.

Each blueprint can be accompanied by a Guided Implementation that provides you access to our world-class analysts to help you get through the project.

Table of Contents

Need Extra Help?
Speak With An Analyst

Get the help you need in this 2-phase advisory process. You'll receive 5 touchpoints with our researchers, all included in your membership.

Guided Implementation 1: Understand smart contracts

Call 1: Walk through smart contract concepts.
Call 2: Assist in building the executive buy-in presentation.

Guided Implementation 2: Develop a smart contract

Call 1: Explore business processes suitable for smart contracts.
Call 2: Walk through the steps in the identification and documentation of transactions in your selected business process.
Call 3: Complete your smart contract use-case deliverable.

Author

Nhat Tran

Contributors

Pamela Bautista
Ceit Butler
Priyanka Desai
Amy ter Haar
Andrei Jagodin
Richard Kim
Bridie Ohlsson
Alessandro Sanino
Nelia Texeira
Amir Hossein Zolfaghari

Search Code: 90981
Last Revised: January 31, 2020

TAGS:

Smart contracts, blockchain, use case, smart contract use case, smart contract business use case, whiteboard, video, whiteboard series

Visit our IT Cost Optimization Center
Over 100 analysts waiting to take your call right now: 1-519-432-3550 x2019