Angelo Babb explains the role of a blockchain consultant in helping businesses grow

Today, many organizations are looking for blockchain consulting services, which will help them throughout the entire blockchain adoption cycle. However, due to low technology maturity and unclear business returns, most of these services revolve around proof of concept and strategic advice. Angelo Babb, an expert on cryptocurrency and blockchain innovation, discusses why blockchain consultants are important for business growth.

Blockchain consulting providers are still in the process of creating the perfect strategy for the entire life of the project. However, it is important to get help from the best of the best providers. This is because many lack the integrity to resolve issues, processes or operational issues for these types of deployments.

Babb explains, Interest in blockchain technology has increased rapidly over the course of two years. Not only blockchain, but the demand for distributed ledger technologies is also on the rise. Additionally, blockchain, along with other decentralized technologies, has the potential to completely transform many industries.

It is possible to generate billions of dollars in revenue and save money in the end. Creating trust throughout the complex business ecosystem is another of the benefits.

For this reason alone, Gartner estimates that by 2030 the blockchain industry will be worth $3 trillion. Therefore, gaining a place in the huge market is another top priority for many companies.

With blockchain showing all these potentials, many companies in different markets are slowly starting to experiment with blockchain and investigate whether the technology is right for their business.

Generally, these blockchain consulting firms offer their blockchain consulting services in two categories. First, they offer an ideation process for developing blockchain solutions, and second, they offer an understanding of one or more technologies along with further explanations of the business model.

So to get a better understanding of various model schemes along with business experiences, it is possible to take the other type of blockchain consulting services. Indeed, opting for blockchain consulting services does not only mean that you have to get proof of concept (POC) or planning for a business. Even for educational purposes or for better understanding, blockchain consulting services can be beneficial.

Usually, the POCs developed under these blockchain consultancies are small in scale. This means that it is necessary to theoretically demonstrate the commercial and technical feasibility of whatever type of blockchain use is desired.

As most companies are still looking for advice and strategic approaches to blockchain solutions, it is not surprising that large consulting firms also dominate this niche. Furthermore, global technology service providers also dominate the new rising market.

On the other hand, due to lawsuits, new small-scale or start-up consulting firms are also joining as they do not need to submit a POC or address other operational issues. Explains Babb: In reality, many developers who have practical experience with blockchain technology have stepped up and started their own specialized blockchain consultancies. However, it is important to measure the knowledge of the consultant in advance.

Since most of the demand for the blockchain solution is only for the early stages, there are very few strategies that actually make it to the next level due to the complexity of the technology. Therefore, the rate of extension in the market will continue to occur at least until 2024.

However, it is important to choose the ones that will give results. In fact, most of them will motivate you to spend money, but the end result will not be enough.

Therefore, you always take those that offer the most value in terms of cost. It goes without saying that the popular will prevail in the market.

About Angelo Babb

Angelo Babb is a cryptocurrency and blockchain legal consultant helping new and established organizations strengthen their digital asset interactions. A certified attorney and Scrum Master, he works with all categories of businesses to ensure that cryptocurrency endeavors substantially meet their obligations. When not furthering his education in the cryptocurrency and blockchain fields, Babb enjoys relaxing on the beach with his family.