What Are the Challenges of Implementing Blockchain in Business?
While blockchain offers numerous advantages, there are several challenges to its adoption:
Scalability: Handling a large number of transactions can be problematic for some blockchain networks. Regulation: The legal framework for blockchain is still evolving, and businesses must navigate regulatory uncertainties. Interoperability: Different blockchain platforms may not easily work together, complicating integration. Cost: Initial setup and maintenance of blockchain systems can be expensive. Expertise: There is a shortage of skilled professionals who can develop and manage blockchain systems.