Many organizations are nowadays looking for blockchain consulting service, which will help them throughout the whole blockchain adoption cycle. However, due to the low maturity of the technology and much unclear business ROI, most of these services revolt around proof of concept and strategic advice.
Blockchain consultancy providers are still on the process of creating the perfect strategy for full project life. However, you need to make sure to get help from the best of the best providers. It’s because many lack the integrity to address issues, processes, or operational aspects for this kind of deployments.
But don’t worry, the experienced blockchain consulting providers do also exist, and they are growing rapidly. Furthermore, in many of them, special blockchain specialists have joined up to aid them. Therefore, today, we’ll be talking all about blockchain consulting service and different firms that offer them.
So, let’s begin!
Table of Contents
Chapter-1: What’s the Current Scenario of The Market?
Chapter-2: Blockchain Consulting Market Components
Chapter-3: The Blockchain Consulting Bloom: What You Should Keep In Mind
Chapter-4: Different Types of Blockchain Consulting Providers on the Market
Chapter-5: What Do the Blockchain Consulting Firms Offer?
Chapter-6: Popular Blockchain Consulting Companies
Chapter-7: Final Words
Chapter-1: What’s the Current Scenario of The Market?
Interest in blockchain technology has increased rapidly over the course of two years. Not only blockchain but the demand for distributed ledger technologies is on the rise as well. Furthermore, blockchain, along with other decentralized technologies have the potential to completely transform many industries.
Moreover, it can also generate billions of dollars in revenue and save money in the end. Also, creating trust in all the complex business ecosystem is another one of its perks.
For only this reason, Gartner happens to forecast that by 2030, the industry will be worth $3 trillion dollars. So, getting a spot in that huge marketplace is another major priority of many enterprises.
With blockchain showing all these potentials, many enterprises on different verticals are slowly starting to experiment for their business. It’s to investigate whether the technology is suited for their business or not.
Furthermore, to make sure that it can help out, they are using it for sample use cases.
However, there’s a major shortage of skilled personals that can both understand the core technology and aid in the potential business strategy planning. As they are quite rare, the few that are available are quite expensive, to begin with.
Thus, to meet up with consumer demands, another business is rapidly starting to grow – Blockchain consulting service. Here, the larger consultancy firms are training up extensive consultancy teams to make sure they can assist other companies as well.
Furthermore, a small specialist in blockchain with technical knowledge is also seeking an opportunity in the new marketplace.
What’s in It for You?
As now there are massive parties offering all these services, it’s best for you to fully understand what the offerings and requirements are for these blockchain consulting sessions.
Thus, we will help you out with our insight into the marketplace and help you find your potential fit as the blockchain consultancy provider.
In addition, we’ll also look into the probable and good source of blockchain consulting service – companies that can deliver POC consultancy and blockchain strategies.
Don’t worry; we will only talk about the marketplace from an enterprise consultancy viewpoint. So, all of the Information would be based around clients that want to ideate, evaluate, and exploit the possibilities of the technology.
What Enterprises Should Seek from Blockchain Consulting Firms?
Use the blockchain consultancy options to explore the use cases of blockchain and build the skills where it’s needed. Furthermore, you should limit the risk by making sure that all stakeholders know about the probable outcome.
Moreover, first, make the engagement small such as keep it within the POC. Also, try to limit all the expenses and resources involved.
Practically there are five types of support from a blockchain consulting service providers. So, try to seek the support that your enterprise really needs. But how?
Well, you can use blockchain consultancy specialist to get excellent technical skills, implementation challenges, capabilities, and business impact from technology service providers, and strategy and risk advice from business consulting firms.
Finally, make sure to take all of the blockchain initiative one at a time. Here, stages such as executive buy-in, knowledge foundation, development of skills, and piloting the project are crucial.
Furthermore, always remember that all the resources are pretty scarce, so make sure to utilize them perfectly to get the proper value.
Chapter-2: Blockchain Consulting Market Components
Most of the buying organizations are still in the really early phase of the experimentation. They are mainly in utilizing probable use cases phase. As a result, the blockchain development consulting firms mostly provide assistance in the early phases of the project.
Furthermore, strategy analysis, exploring use cases, and creating new types of proof of concept happens to be the strong areas of blockchain consultant services.
But why is that? Well, it’s because in the early phases there isn’t that much challenge as the end stages.
Anyhow there are some fixed components in the blockchain development consulting market. Let’s see what they are, shall we?
The Actual Market –
The core market of the blockchain consultancy includes technology and advisory services close to ideating, evaluating, exploring, and strategizing the different business models. Furthermore, all of the services aim to see how blockchain can increase more revenues or open a new business opportunity. Sometimes they also consult on how the enterprise can improve their It processes.
Common Buyers –
With the new markets, come different kinds of customers. In this case, they mainly include IT leaders, business executives, vendor or sourcing management leaders, digital innovators, process innovators, CEOs, CxOs, and many more.
Business Outcomes –
This component is mostly the desired business outcomes that the common buyers want. Furthermore, they include new services or products, disruptive business models, cost reduction, revenue increases, strong brand value, and many more.
Actual Deliverables –
It depends on the nature of the blockchain consulting firms. However, these may include future strategy, gap analysis, architecture, small scale proof of concept, roadmaps for the implementations, and many more.
How the Buyers Configure Their Demands
Most of the buyers have some sort of requirements. Typically, they use different techniques or ideation process to figure out their requirements. Furthermore, enterprises mainly demand most of the following features from the blockchain development consulting providers –
- Capable of supporting the identification of different blockchain opportunities.
- Creating business cases on behalf of the buyers or with the buyer.
- Have a good track record with demonstrable blockchain proof of concept ideas or any kind of blockchain projects that can help the buyer to compare their requirements.
- Have any kind of partnership or even participate in a consortium where the main focus is to develop blockchain solutions.
- Ability to develop usable and clear business roadmaps and frameworks that links the blockchain technology with the enterprises business requirements and objectives.
- Have wide-ranging strengths in various fields such as business model analysis, cryptography, distributed computing, behavioral economics, and game theory.
- Complete understanding of how the enterprise buyer’s business works and how the blockchain solution can really promote benefits.
How Do the Providers Really Deliver?
Usually, blockchain consultant firms mainly take the payment according to the project based on the amount of time and material needed. It means that the greater the materials the buyers will need, the greater the payment will be.
So, as you can see, you can’t really expect fixed pricing as every company demand differs from one another.
Furthermore, the materials needed may include integration, business cases, roadmap, strategy, ideation, POC creation, and many more. Other services could include some kind of joint partnership with blockchain startups, vendors, or IOT providers.
Typically, these blockchain consultant firms offer their blockchain consulting services in two categories. Firstly, they offer an ideation process of the development of blockchain solution, and secondly, they offer the understanding of one or more technology along with other business model explanations.
So, if you only want a better understanding of different model schemes coupled with business experiences, then you can take the second type of blockchain consulting services. In reality, going for blockchain consulting services doesn’t only mean that you are obligated to get the POC or road map for your business.
Even for educational purposes or for a better understanding, you can seek blockchain consulting services.
Usually, the POC developed under these blockchain consulting firms are small scaled. This means that it would try to theoretically prove the business and technical viability of any kind of blockchain use cases you may want.
However, many do take it to prototype as well. But only after the POC was a huge success.
Chapter-3: The Blockchain Consulting Bloom: What You Should Keep In Mind
Now, I’ll be talking about the different shifts of the blockchain consulting market and what is the current scenario right now. Moreover, I’ll also talk about what the future scenario might be. It’s best to know about the condition of the blockchain consulting business before you jump into it.
In the initial phases, when you’ll learn about how blockchain can really help your company, you would want to start developing a POC. However, in the later phases, you MIGHT face some technical difficulties.
See how I emphasize on the word “MIGHT?”
It’s because the scenario totally depends on your choice of blockchain consulting firms and what kind of demands you have.
In reality, many think that the lack of scalability or the rising complexity could cause some issues. However, there are already many blockchain technologies on the market now that can grow as the network grows.
But due to previous blockchain generation technology, many organizations are still not interested in investing in blockchain technology consulting firms.
So, Blockchain Doesn’t Have Issue?
To be frank, there are some blockchain adoption challenges, so blockchain does have issues. But it’s not as overwhelming as you may think. Well, the maintenance and standards can seem like a barrier in your pathway. But this is where the blockchain consulting solutions come into play.
In reality, the consultancy firms would help you to understand what’s more suitable for your enterprise with the current blockchain technologies on the market. It’s because the technology is evolving, and there may be possible changes.
However, if you wait for more upgraded technology on the market, there’s a chance that you may not be able to secure your place in the $3 trillion valued market in 2030.
In reality, if you already get started, you can always add more features or upgrade to better options. But not taking part entirely may limit your revenue increase when you do use blockchain solutions in the future. Here is the basic introduction to the features of blockchain technology.
That’s why I’m going to outline all the possible phases of blockchain consultancy and let you know what kind of changes it could have in the future. Furthermore, it would also help you understand the overwhelming blockchain technology consulting bloom a bit better.
What Are the Typical Phases of Blockchain Consultancy?
Usually, there are three different phases that you’ll notice in the blockchain consulting marketplace. These are –
As the majority of enterprises are still looking for strategic advice and approaches for blockchain solutions, it’s not surprising that large consultant firms are dominating this niche as well. Furthermore, even global technology service providers are also dominating the new rising marketplace.
On the other hand, because of the demands, small scale or new consultancy startups is also joining as they don’t need to come up with a Proof of Concept or address other operational issues.
In reality, many developers who have hands-on experience with blockchain technology stepped up and started their very own specialist blockchain consultancies. But why is there so many blockchain development consulting firms out there?
Well, it’s because most of the demand for blockchain solution is for early stages only, very few strategies actually go to the next level due to the complexity of the tech.
Thus, the rate of extension in the marketplace will keep on happening at least till 2021. However, make sure to only go for the ones that bring out any kind of results. In reality, most of them will motivate you to spend money, but the end result won’t be enough for you.
That’s why always take the ones that offer the most value in terms of cost. Needless to say, the popular ones will prevail in the market.
Blockchain technology is maturing day by day, and even though enterprises now only want the early adoption consulting services, the scenario will soon change. Thus, with new changes, the companies will want to move to full implementations or piloting different POCs.
So, at this moment, the blockchain initiatives would need to handle integrations, process changes, privacy, security, and compliance issues of any kind of project. Additionally, they also have to get all of their stakeholders onboard on their new blockchain solutions.
According to Gartner, the number of popular platforms would decrease drastically. Not that there would be only a few blockchain consultant companies but that enterprises would only want to get technological backup from only a few companies.
In this case, many small scale blockchain consultant would feel the pressure mainly in delivering the efforts or skills needed for making a project go live. Furthermore, as it’s still evolving, some of the skills of the technology may not be valid either.
So, in the future, the smallest blockchain development consulting firms would not exist or merge with other companies to offer the complete package.
And so, by the year 2026, only the relevant or quality blockchain technology consulting firms would cease to exist.
According to Gartner, the market value of blockchain should rapidly increase from the year 2025. So, we can safely say that this will be the year when the demand for consultancies would rise even more. By this far, the small-scale companies or the ones that can’t fully support all the demands of enterprise would not be in business.
However, the remaining ones would experience tremendous growth – not only in their business but also in technological aspects as well. With this much years of experience, you’ll get more value for your money spent.
However, there might be some parties that want to enter the new business spectrum. But we don’t know how they might turn out. Anyhow, even if the consultancy market would bloom after a few more years, the enterprises that got in on the blockchain solutions would see a massive increase in their revenues.
So, it’s safe to start taking advice from the existing blockchain technology consulting firms; even it’s only for the early phase of the adoption.
Now it’s time to move on to what types of blockchain consulting providers are there on the market. So, let’s jump to the next segment.
Chapter-4: Different Types of Blockchain Consulting Providers on the Market
At present, the marketplace of blockchain consulting firms is still in the early phases. However, these are evolving quite fast as most of the providers learn from every engagement and improve their skills even more.
In reality, as the marketplace is quite lucrative, there’s a variety of firms that offers blockchain consultancy now. It’s mostly because at present the barriers for entry are quite low, and most of these are only for initial phases only.
At present, we have four different types of blockchain technology consulting providers. Take a look!
As the demands are piling up, so is the need for more technical knowledge with blockchain skills are rising. As a result, many blockchain consultants who happen to have a lot of experience in this niche is starting their very own blockchain consulting firms.
However, as many of them are just startups, they are usually small in scale. But they do have excellent technical development capabilities. Furthermore, these firms also have a heap load of experience and mostly have talented and insightful people among the staff.
In reality, they often deliver more quality solutions than most of the other kinds of blockchain consulting firms.
Business Consulting Companies
Many business consulting companies saw an opportunity for a long-term business in the blockchain technology. That’s why they set up large blockchain centers with more premium features. In the first stage, they only wanted to focus on strategic advice only.
Also, they only wanted to offer these pieces of advice for executive members only. However, now, many of them are expanding and providing any kind of technical support for POC. Furthermore, many of these projects often expanded to projects being in production.
So, in a sense, these blockchain technology consulting companies can really offer you the added benefit of a successful POC solution.
TSPs or Technology Service Providers
Usually, these type of consultancy providers are the ones that were quick to bring attention to blockchain. In reality, these blockchain consulting firms saw a great opportunity in blockchain and took that to bring in more revenue.
Well, they weren’t wrong, actually. Furthermore, the technical understanding of the blockchain gave them a total boost in the blockchain consulting market. Moreover, their experiences with businesses also make up for great quality.
Yes, they offer consultancy advice as well. However, they tend to be a bit more into the POC stage development. However, they would also offer strategies to help you find the perfect use cases for your business as well.
Anyhow you’ll also get other features like attempting to deal with the typical blockchain limitation issues.
Blockchain Consulting Platforms
The demand for technical skills and understanding is opening up new doors for the knowledgebase platforms. In this case, many platforms offer a lot of lucrative information about everything related to blockchain.
In reality, these companies could start as a blockchain information portal on the internet. However, as most of these are backed by tech professionals, they can offer the best deal of information on any topic.
As most enterprises have limited or zero knowledge about blockchain ecosystem, they could use these portals to get a glance at the core. Furthermore, as these consulting platforms have a deep understanding, they often offer blockchain consulting services.
So, as a blockchain consulting firm, they are quickly emerging in the market as well, because they have value for the money spent.
Chapter-5: What Do the Blockchain Consulting Firms Offer?
Usually, the requirements of enterprises would vary a lot from industry to industry. I’m not saying that all of the needs are currently available on the market. However, many of them are emerging or needs more maturation.
Typically, it’s classified in 5 distinct areas. I’m going to describe each one of them to make sure you know what kind of services you need. Furthermore, it would also help you understand if your needs are mature enough in the market.
So, let’s start!
1. Curating Strategies
It is the execution phase, where typically any organization will go to blockchain development consulting firms for solutions. Mainly here, the enterprises want to know more about how their business would take the hit with blockchain disrupting every industry.
In reality, many blockchain consulting providers offer four kinds of services –
- Analyzing the Impact: Here, the blockchain consulting companies would analyze the impact of blockchain on a particular organization.
- Possible Business Tactics: The blockchain consultants would come up with possible business tactics to deal with the impact.
- Future Roadmaps: Here, blockchain development consulting firms would outline a possible roadmap for the organization to follow.
- Ideation Workshop: Many consulting firms offer workshops to give them direct lectures on how the blockchain can impact and how they can deal with disruptive solutions.
2. Business Solutions
After an enterprise makes thecal to go further with blockchain, it would seek help from blockchain consultant agencies. In this part, the blockchain consulting firms mainly offer to identify the possible use cases specifically for that enterprise.
Furthermore, they would also outline how the investment cases or requirements may cost them. But how will you know which one is suitable for you and which one isn’t? Well, here, most blockchain consulting providers mainly use their knowledge within industries to identify the possible solutions for you.
Moreover, both Technology Service Providers and Business consulting firms are experts in this niche. And it’s all due to their previous track record of enormous experiences.
However, blockchain specialist can also offer an in-depth solution in this case as well.
- Stakeholder Alignment: Here, the blockchain consulting provider would sit with the stakeholders and describe how it would affect them and what would be the possible solution.
- Designing Process: Not only will they get the stakeholders aligned, but they would also give a technical view of the designing process.
- Analyzing Requirements: Another great issue is the requirements. So, the blockchain consulting firms would further analysis those and hand out the needs.
- Identifying Use Cases: Well, not every enterprise needs the same use cases. That’s why the blockchain consultancy team will identify the possible use cases as well.
- Developing Business Cases: After finding out the use cases, they would offer to develop the business cases around those use cases.
3. Technology Offerings
Usually, in these types of services, you would need the help of blockchain consulting offerings that deliver architectures, APIs, frameworks, and other technical backups. It’s because only these consulting firms can truly take the project to the POC level.
In reality, the blockchain consultancy firms not only providers their very own touch to the POC, but they also have a broader linkup. Therefore, you’ll see many of these are associated with the enterprise blockchain company’s or startups that offer the best of the best product.
So, you are not only getting any kind of technical assistance for the POC but getting them from the best of the best company’s in the market.
Both Technology Service Providers and Business consulting firms are experts in this niche. But the blockchain specialist did work on previous blockchain networks personally, so they also offer great support.
- Technology Strategy: As these offerings are for the next phase, it’s common to get a technology strategy such as which frameworks are the best or what blockchain company offers more value.
- Implementing Frameworks: After that, the implementation process of the frameworks begins. In reality, it’s mostly very limited design.
- Prebuilt Solutions: In most cases, as the blockchain consulting companies have previous experiences, they might already have the solution you need. For example, maybe a similar industry wanted a solution close to your company. In that case, the consulting firms already have a solution built from beforehand.
- Reference Architecture: Sometimes, they may follow a reference architecture but make some internal changes to better accompany your requirements.
- POC Development: Well, this is the main offering and the most popular one for that matter. Once every enterprise sees the value blockchain brings them, they want to develop a POC to test it out.
- Offering APIs: You would need APIs to get the full functionality of the business cases. And so, the enterprise companies also offer this as well.
4. Risk Management
In reality, no matter how far the blockchain tech came, it still needs a lot of things to change. Furthermore, due to the immaturity of the network system, many consultancies tend to limit their offerings to only building POCs.
However, the need for exploring risks and security loopholes around these are much needed. A present only a handful of TSPs and blockchain consulting companies are exploring it. In reality, if the blockchain solution faces any errors in testing, then only the handful offers a solution to that.
Moreover, offering tax planning, auditing, or ICO is also on the list of risk, management. Because with everything, the enterprises need to know what issues they might need to deal with.
This kind of offerings are still growing, and hopefully, we’ll see more of it in the future.
At first, they would analyze the risks associated with the business processes. In reality, no company should jump into any blockchain solution without fully understanding the risk factors.
With every implementation, there are some legal terms associated with it. So, the blockchain consulting firms would also offer legal advises on the solution.
Well, the most important issue is the governance structure. Not every blockchain comes with the same governance structure. Moreover, the enterprises can’t offer a public network that can be accessed by anyone. That’s why implying what kind of governance would it have and what risk measurements they would need to take is very essential.
This is one of the major risk points, and many consulting firms aren’t able to offer this service. On the other hand, a handful of companies are starting to look more into it.
Risk Management from Third Party:
As risk management is an emerging blockchain service, that’s why many companies offer third-party risk management for the enterprises that need it. Better than nothing, right?
All the blockchain consultancy firms that take into the risk management sectors tend to offer regulatory compliances. Furthermore, it makes sure that everything is on point.
Cultivating Digital Trust:
You want to implement a blockchain solution, but would your consumers feel the same way about it? Well, in many cases, they may not. However, the blockchain consulting firms can handle it. Thus, they would cultivate the digital trust needed for your solution within your customers.
5. Integration Process
Well, these are the offerings that are currently under development. In this niche, the blockchain consulting firms cover the integration of the blockchain solution to the existing network system. However, this process is quite difficult as they would have to completely change the internal networking of any organizations.
Another issue is that, as many are exploring blockchain, but only a few take it to integration. In reality, the integration is not something that most enterprises are fond of, even though this will give them a massive boost.
However, I can safely assume that these offerings would be the most demanded ones in the future. So, the blockchain consulting firms would offer to change the legacy networks or building a way to the couple form the networks together.
Thus, you would need APIs, frameworks for that. I expect the TSPs to take the lead here, as they already have a lot of technological backgrounds here. Moreover, business consulting firms would not fall far behind.
Well, you never know when your solution might break down. In reality, the blockchain network is quite complex, and simple loopholes could cause a disaster. However, you would need to have a backup in case of any unwanted issue occurs.
Blockchain consulting firms should offer solutions for you to continue with your blockchain technology. You definitely don’t want to be stuck with the same use cases as the time goes by. Thus, you would need to enhance or increase the features to stand out in the market.
Well, few blockchain consulting firms do offer this right now. Here, you would get the added layer of security for your solution.
Integration with Legacy Systems:
As replacing a legacy network system of enterprises needs a tremendous amount of time, it’s best to integrate with the existing networks than totally replacing it. However, this offering is still not available in many companies.
Modification of Business Processes:
Many blockchain consultancy firms offer services to modify the usual business processes to better accommodating the new changes.
As the networks would be up on the cloud, it poses some serious threats. Thus, the need for cloud management is necessary, and many consultancy firms are starting to offer it.
Use of data standards is necessary because it needs to be aligned with the stable blockchain networks on the market.
Chapter-6: Blockchain Consulting Companies
Now I’ll talk about the blockchain consulting companies on the market. Hopefully, these will surely help you out in picking the best one based on your needs. I’ve separated them based on the different types. However, I’ve randomly selected them as there are so many consulting firms on the market now.
Blockchain Strategist –
Let’s start with ConsenSys at first. ConsenSys doesn’t only offer advices when it comes to blockchain consultancy. At present they offer a lot of lucrative blockchain consulting services –
Ideation of blockchain, designing, business model analysis and assessment, solution architecture, technological strategy, implementation, deployment, analytics, operations, and ROI evaluation.
Moreover, they are well known for their number of blockchain specific products – Infura, Truffle, uPort, and more. Not to mention they are directly associated with enterprise Ethereum. In reality, they already have 30 blockchain products and 100 projects done.
Fintricity is another one of the blockchain consulting companies that focus on enterprise blockchain consulting solutions. Moreover, it works with executives with the help of workshops to help them figure out the disruption and other related aspects.
Furthermore, it would also use its own framework to demonstrate how the decentralized system really works. Additionally, you’ll get high-level strategy, delivery of use cases, and POC implementations.
At present, it only offers open source blockchain technologies such as Hyperledger, Ethereum, etc.
Well, this blockchain consulting company has a very specific approach for blockchain. Mainly they take clients that already know about blockchain and wants too directly jump to use cases. Also, they offer production-ready systems.
But they do not engage in any kind of POC implementations. However, if any company is ready to invest for the long term, then they would engage in the POC. Additionally, they do offer executive awareness, but it mostly covers advanced guidance such as which technology would be suited or what the resources would be.
BCS offer blockchain consulting services. However, with help from blockchain subsidiary Bloxian, they can now offer implementation services as well. With the help from this blockchain consulting company, any company would get insights on most-suited blockchain tech, and how they should manage the changes. Moreover, they would also offer feasibility testing when a specific solution is determined.
Network development or implementing decentralized application is also another feature of this blockchain consulting company.
Thus, they more or less offer almost every kind of consulting service at present.
The engagement with Blockchain Zoo would begin with a two-day workshop where they would help the executives discover potentials. In reality, it will explore the business transformation of blockchain, identifying areas where blockchain can be valuable and offer best use case solutions.
In the next phases, they will cover turning blockchain solutions into white papers. Any company will be free to implement it on their own or get help from the company as well. In the case of POC implementations, the company could use their own framework or use another framework that the customer is satisfied with.
This is one of the blockchain consulting companies that take banking or capital market clients. However, with this, you will get business services and technological support as well. Here, the approach will begin with evaluating your probable use cases and adjusting them accordingly. Moreover, they would also outline a roadmap for your company to follow.
Moreover, if you want to take it to POC level, they would also cover it as well. Additionally, they also have a technological background to go beyond POCs.
Applied Blockchain will not start by telling you that blockchain is necessary. The blockchain consulting company will start with seeing whether the technology can add any kind of value for your enterprise.
If not, then it will steer you to possible alternative technologies. So, if they analyze and come up with probable value points only then would they move onto the next phase. If they figure out a use case, then from planning to implementation can be done with their help.
Blockchain Consulting Firms (Business Consulting Companies) –
Let’s start with Accenture. With Accenture, you will get an insight within blockchains core. Not only will they offer blockchain consulting services, but they also offer solution designs as well. Furthermore, with their help, you will get legal advice as well.
In reality, they would provide strategies and offer hands-on training for that purposes. More so, you would get an implementation of the blockchain model as well. As I said before, business consulting companies can offer value but the pricing could be a bit on the high end.
EY happens to offer consulting services for designing and implementing any kind of blockchain solution. But for that, they need to have a well-crafted blockchain model that focuses on the delivery of POC.
Remember, when I said that not many companies offer risk management services? Well, EY happens to offer those – tax services, auditing, legal aspects, and many more.
EY is already currently working on several projects now and happens to cover a lot of solutions to this date. Furthermore, they also offer their services in many countries. So, you could think of them as a global provider.
Deloitte offers consulting services for startups and enterprises for helping them to create blockchain ideation, innovations, prototypes and solution development. Not only that but the company also helps enterprises to deliver value.
At present, they have six levels of blockchain consulting services. At first, you’ll start with different strategies, visions of how the blockchain can add value to your company. Next, they can offer platform designs, consortium management, development roadmaps and many more.
Other than these, they also offer to manage your blockchain solution and add more features in the future for business continuation.
PwC is another one of the blockchain consulting companies on the market. With them, you would get three different kinds of approaches – Discovery, Strategy, and Delivery. In their first phase, they cover workshops for ensuring the probable understating and figuring out the use cases.
On the strategy stage, they come with the perfect solution for your business to handle. In the last stage, they build the proof of concept and test it out to see what the real results are. In a way, with the three phases they manage to cover most of the blockchain consulting spectrum.
Technology Service Providers –
You just have heard about IBM by now, IBM offers blockchain consulting services. They include – designing the services, consulting on business models, offering value to existing solutions, and implementation on the IBM cloud.
Well, they are one of the Hyperledger vendors in the market right now. So, if you go to the POC stage, they would definitely use this enterprise technology for that. Furthermore, they also address any security issues or challenges you might face in the implementation phases.
Another thing would be a huge benefit is their enormous experience in making blockchain solutions. IBM already has many enterprise projects under their name. So, the experience might come in handy.
Another addition to the list of blockchain consulting companies is Fujitsu. In reality, they have a global team just ready to work on the business consulting phase of the blockchain adoption for enterprises.
Furthermore, they also advise the company’s on use cases based on the market analysis. Additionally, Fujitsu happens to have blockchain specialist output, thus making it capable of handling any kind of business model.
The company is capable of offering Hyperledger Fabric or Ethereum based solution for you.
EPAM is another one of the blockchain consulting companies that focus on enterprise blockchain consulting solutions. Moreover, it works with executives with the help of workshops to help them figure out the disruption and other related aspects.
Not only it covers the horizontal aspects of blockchain implementation, but it also covers the vertical aspects as well.
In reality, they would provide strategies and offer hands-on training for that purposes. Additionally, they also offer prototyping and testing of the blockchain solution at hand. Moreover, they also have a technological background to go beyond POCs.
But I have to say that this company mainly prefers the consultancy phases of blockchain offerings. There are many companies on the market just like them that tend to prefer just designing the model and not go into the next phases.
Blockchain Consulting Platforms –
101 Blockchains is one of the leading blockchain consulting platforms on the market at present. It’s an online platform that happens to offer insight into everything related to blockchain technology. So, if you are looking for valuable information explained in a simple manner, then 101 Blockchains is the way to go.
The online platform came to be from 2018; however, the valuable information coverage is crowing them the top spot. In reality, its primary goal is to offer a better understanding of the technology for enterprises as well as individual developers.
At present, the platform offers private blockchain masterclasses for executives to help them harness the power of blockchain. All of the masterclasses and consultancy advice comes directly from experts in this niche.
So, the online platform could be a great way to jump-start your blockchain implementation.
This article on Blockchain fundamental will help you to get the ins-and-outs of the technology better.
Chapter-7: Final Words
Although the scenario is changing rapidly and the blockchain technology is growing at a great speed, there are still a lot of areas that the common users are unclear about. Having experienced consultancy companies helping you all the way is always a big plus.
Especially, for those who wouldn’t call themselves “tech-savvy,” would need the precious help from the blockchain consultancy service providers sooner or later, if they want to enter the blockchain industry.