Five Challenges Facing Today's Enterprise

Today’s Enterprises are met with numerous operational challenges. This article will explore five of the most pressing matters facing businesses and give executives a better understanding of how Dragonchain's capabilities can help them develop strategies to overcome their biggest challenges.

Data Management

There are several aspects to managing data that present a challenge for today’s Enterprise. At a base level, the sheer volume of data coming from disparate and siloed systems has businesses struggling to keep up. Once businesses gain access to all their data, they need to ensure it is secure and that only permitted parties have access.

Dragonchain offers a comprehensive platform that connects and scales all business systems. Our interoperable architecture is simple to integrate with any business and blockchain system as well as IoT devices and AI protocols. This gives businesses a full line of sight into all aspects of their data.

Once businesses have their data, they can use our smart contracts to automate any workflow process. Our patented smart contract orchestration allows businesses to add or delete any process in a smart contract workflow without a complete overwrite of the contract.

Businesses can also gain valuable insights into how their operations and processes are working with our on-chain predictive analytics capabilities. They can even implement a prediction-based marketplace to motivate partners to accurately report data to ensure an effective process improvement protocol.

Additionally, we offer unique capabilities in access controls with smart contract gated data access (SC-GDA). SC-GDA provides authentication services and records every data interaction on-chain making every keystroke auditable. This capability is crucial for another top business challenge, cybersecurity.

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Cybersecurity

Cybersecurity should be every business leader's number one priority. One of the biggest challenges in securing business systems and data is staying ahead of nefarious actors. This requires businesses to prioritize cybersecurity as a critical aspect of their operations.

The decentralized nature of blockchain naturally lends itself to be a formidable tool in a business’s cybersecurity protocol but Dragonchain leverages blockchain in a way that offers workable solutions to real-world cybersecurity threats that other blockchain protocols just can’t support.

Dragonchain’s security capabilities are foundational to the architecture. We start by providing a blockchain for every business. Information is segregated and all private and proprietary data remains at the business level. Proof of the data is then sent for decentralized verification through a series of verification and validations nodes, ultimately being stored on multiple public blockchains (eg. Bitcoin and Ethereum). This gives businesses approximately $4 billion dollars per year of measurable security from the hash power that secures each transaction. This natural segregation of data allows for GDPR / CCPA compliance while still leveraging blockchain technology.

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We also offer provable disaster recovery and data mirroring capabilities to ensure that businesses that fall victim to a data breach can recover all their data with proof of immutability and authenticity. This gives businesses comprehensive data integrity and frees them from having to pay a ransom to gain access to their own data.

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Additionally, Dragonchain provides a way for businesses to integrate blockchain with Internet domain name servers to protect against DDoS attacks by spreading resources to multiple nodes, making it infeasible for attackers to control databases.

Combined with our database management tools, business systems are less vulnerable with Dragonchain than they would be with a centralized system.

Digital Transformation

We are all so ingrained with technology these days that it seems counterintuitive to think that businesses still struggle with digital transformation. The fact is, technological advancements are so swift and ongoing that businesses have a hard time keeping up with the latest trends to remain competitive.

One of the biggest challenges is the lack of digital skills within the organization. With every new advancement, businesses need to invest in training their employees to ensure that they have the necessary skills to implement new technology.

When it comes to implementing blockchain, Dragonchain can help make any digital transformation, including AI, less challenging and more efficient. Our blockchain protocols can be integrated with any business system through a well-known RESTful API connection. For any system that does not use API we offer smart contracts to act as glue code to connect systems.

Additionally, any existing IT staff will feel very comfortable working with blockchain as our smart contracts can be written in any executable code language and require no additional training.

Coupled with our user-friendly interfaces, existing staff, who are comfortable with the systems they already work with, can still use those systems which saves businesses time and money in training costs.

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Retain Top Talent

Finding and retaining top talent is crucial for businesses to remain competitive. One of the biggest obstacles when it comes to talent management is the changing workforce. Millennials and Gen Z are now the majority of the workforce, and they have different expectations than previous generations. They want flexible work arrangements, opportunities for growth, and a sense of purpose in their work.

Businesses can implement Dragonchain’s Behavior Marketplace AI to incentivize employees’ productivity. Our solutions for behavior management start with on-chain data. Once businesses have all their data on-chain they can easily analyze which processes are working and which are not, creating a more efficient system.

A positive consequence of ledgering data on-chain is that employee actions are on-chain as well. This lends itself to create a provable behavioral incentivization program where employees are rewarded for following a prescribed workflow process, including security best practices. Employees who do not follow a particular process or do not adequately complete a task are either not rewarded or receive a lower reward.

The inclusion of blockchain allows for selective transparency so that the employees can all see how they measure against others without exposing sensitive information. They can then work to improve their scores so that they too will be rewarded. With a generation that has grown up in a gaming atmosphere this type of incentivization system is very natural and will result in a set of employees that do their best work for the business because they feel appreciated.

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Sustainability

Sustainability is becoming an important goal and responsibility for businesses but it too presents some challenges. Consumers are increasingly conscious of the environmental impact of the products and services they use, and they expect businesses to do their part in reducing their carbon footprint. Additionally, regulators and investors require accurate tracking and reporting of their climate-related data.

One of the ways businesses can track, report, and prove their climate data is by using blockchain. However, the energy consumption of blockchain has been the topic of much debate, A debate which often overlooks the amount of security blockchain provides for the amount of energy it uses. The blockchain industry has begun the transition to more sustainable forms of energy, but the topic shows no signs of being settled anytime soon. Businesses don’t have to wait for these growing pains to work themselves out. With Dragonchain, businesses can harness the most secure blockchains in use today, responsibly.

Dragonchain’s architecture is naturally energy efficient in a few ways. First, our verification platform, Dragon Net, uses roughly a third of the energy per transaction than other leading blockchain platforms. As transactions increase, our energy use per transaction decreases. The entire network can handle billions of transactions on just 2000 nodes for 43.77 KW of energy used per day.

Next, through batched transactions we leverage Bitcoin and Ethereum on a cadence to limit the number of calls to each of these networks. Businesses can secure their data proofs to both Bitcoin and Ethereum or any other network they choose at a fraction of the energy then when used on their own.

Finally, Dragonchain helps businesses meet their climate-related goals through our interoperable and scalable platform. This allows businesses to leverage all their data to accurately track and report every aspect of their business.

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These are just a few of the things on the minds of business leaders. What’s challenging for your business? How are you addressing these challenges? By understanding how Dragonchain capabilities all work together to solve pretty much any business challenge businesses can start strategizing solutions to meet those challenges head-on to remain competitive and thrive in the modern business landscape.