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from the lack of standardization, rendering mass adoption an unlikely mission. Since

blockchain technology does not follow any standard version, it also serves as an

obstacle to the entry of new developers and investors.

6.7

Lack of Talent

Without delay, the demand for blockchain professionals is rising, but high-quality

talents can be seen as a significant difficulty in adopting this technology. Despite

considerable accomplishments, most of the crowds see Blockchain as a developing

area. While there is a strong demand for Blockchain developers, an acute shortage of

blockchain experts and developers is a major concern for all organizations. The lack

of professionally trained and experienced developers to handle and overcome the

complexities of peer-to-peer networks further contributes to a slow rate of growth.

6.8

Organizational Challenges

Various organizational problems restrict the corporate use of blockchain technology.

Lack of awareness and understanding: A lack of knowledge of technology

and a widespread lack of understanding of how it works is the main challenge for

blockchain-related businesses, especially small and medium ones. Many businesses

do not know what the Blockchain is or what they can do. That has a lot to do with the

domination of blockchain technicians and their excessive approach to technology.

Productivity paradox: There is a phenomenon known as the blockchain paradox.

The increased speed and dependability with which blockchain networks can. There

is a phenomenon known as the blockchain paradox. The increased speed and depend-

ability with which blockchain networks can conduct peer-to-peer transactions comes

at a high aggregate cost, which is more than for other types of Blockchain. This inef-

ficiency occurs because, in an effort to be the first to find a solution, each node

performs the same tasks as any other node on its own copy of the data.

Lack of cooperation: The Blockchain adds the most value to organizations when

theycollaborateon“sharedpainorsharedopportunity”areas.However,manypresent

systems are self-contained: organizations build their own blockchains and software

to operate on top of them. As a result, in each given business sector, several chains

are built to meet a variety of distinct demands by a variety of distinct organizations.

This defeats the purpose of distributed ledgers, ignores network effects, and may be

less dependable than existing alternatives.