Business Process Reengineering (BPR)
vs
Business Process Management
Modern technology calls for a need to seek more aggressive business process reengineering processes. Simply modifying old processes will only get so far. The situation is analogous to railroad tracks and train technology. Trains have become very complex over the years, and now employ many high-tech functions and parts to perform their duty as working trains on the continental railroad. Every train in America, even the most advanced train, runs on the same old tracks that a 1920s steam engine could run on.
At what point does one say, “enough with these archaic railroad tracks, let's build an entirely new system!”
A full blockchain overhaul may prove more expensive in the short-term, but the technological progress will pay off in the future.
Most processes in business today could be improved dramatically by reworking them from the ground up using blockchain technology.
For example:
The real estate industry - https://harbor.com/ ,
the copyright/music industry - https://copytrack.io/ ,
the lodging industry (like AIRBNB) - https://nest.beetoken.com/ ,
the car industry - https://www.oakeninnovations.com/ ,
the medical industry - https://medicalchain.com/en/ ,
the art industry - http://www.looklateral.com/ ,
the AI industry - https://singularitynet.io/ ,
the data industry - https://www.iota.org/ ,
the social media industry - https://steem.io/ ,
the website monetization industry - https://oysterprotocol.com/ ,
the internet browser industry - https://brave.com/ ,
the business development & incubation industry - https://dragonchain.com/ ,
the lending industry - https://www.saltlending.com/ ,
the energy industry - https://www.envion.org/en/,
the KYC / AML industry - IBM's Blockchain KYC Project
the insurance industry - IBM's Blockchain/Insurance blog
the unemployment/severance industry - Dynamis
the finance industry - Marsh Mindshift v.1 PDF
I could go on for days.
The point is, business process reengineering(BPR) is necessary at technological turning points like the one blockchain presents us with today.
It’s time to redesign the tracks.
Bryan Brodsky
Co-Founder Kryptostarter LLC
Related link:
Blockchain 101 | Public vs Private | Hybrid Blockchains | Dragonchain Proof of Existence | Decentralization