This article offers a comprehensive list of the top blockchain consulting firms with a brief introduction to the services they offer. Also, you will learn how to choose a good company and what skills make one company better than others.
It has never been clear before that blockchain is the technology of the future. Comparisons to the kind of impact the Internet had in the 21st century continue to fill the air. Despite being in the early stages of development, blockchain technology is already generating ripples against the backdrop of increased use in various sectors.
Blockchain consulting continues to gain momentum as companies and individuals try to understand the underlying technology that powers cryptocurrencies. Blockchain technology continues to find increased use not only in the financial sector but also in other sectors given its capabilities.
The technology has the potential to be a savior in the healthcare sector given its credentials when it comes to providing a tamper-proof ledger for secure record keeping.
Blockchain technology is also playing a critical role in improving supply chain management. Over the years, handling claims in the insurance industry has always been a frustrating process. However, accounting technology is slowly emerging as the definitive answer given its potential to provide a seamless system for risk-free management.
The widespread application of ledger technology has essentially given rise to unique business opportunities, not the least of which is Blockchain consulting.
Blockchain Consulting Service
As accounting technology continues to evolve, businesses and organizations are looking for ways to get a head start on a technology that promises significant opportunities. Blockchain consulting firms are slowly emerging, all in an effort to address the growing demand for professional advice.
Businesses around the world looking for ways to take advantage of the revolutionary technology is what is driving the demand for blockchain consulting services. Blockchain technology consulting is quickly becoming a booming business as companies look to leverage the technology to address underlying issues ranging from network downtime to security breaches.
Blockchain consulting firms are also helping interested companies create blockchain technology applications to improve internal operations.
Top 8 Blockchain Consulting Firms
Below are some of the top Blockchain technology consulting firms.
No other mainstream company stands out in Deloitte’s way when it comes to offering a one-of-a-kind Blockchain consulting service. The company has set out to help clients explore all aspects of emerging technology in an effort to deliver customized solutions to drive value.
The international provider of blockchain consulting services offers valuable insights when it comes to the architecture, digital design, and development of blockchain technology. Its main goal is to help companies and individual developers find innovative blockchain solutions capable of addressing real business problems.
The company’s blockchain labs are ideal for companies looking to gain insights into prototyping blockchain business strategies, as well as development support, suitable for taking advantage of blockchain technology opportunities.
The company promises to help stakeholders identify relevant use cases and reap the benefits of digital technology.
Deloitte promises intensive collaboration with clients, all in an effort to assess existing processes as well as pain points on blockchain adoption challenges as part of its consolation services. Companies that hire the international provider of blockchain consulting services should be able to understand the broad innovation landscape of blockchain opportunities.
Having recognized the fact that Blockchain technology has the potential to streamline and speed up business processes, EY Global has set out to offer a wide range of blockchain consulting services.
The blockchain consulting firm’s operations revolve around helping companies identify critical business challenges that the technology can best address. The company has a dedicated team of developers, strategists, and engineers who work hand-in-hand with clients on the blockchain implementation and utilization front.
As an international provider of blockchain consulting services, the company seeks to help clients devise the best blockchain strategies. Their global network currently offers more than 50 business processes powered by revolutionary technology. Clients can take advantage of blockchain solutions in areas of financial services, as well as healthcare logistics, among other industry sectors.
For clients who are still on the fence about using Blockchain, EY Global promises to raise awareness as part of its first phase of identifying blockchain potential. In the second phase of its blockchain consultation service, the company is focused on identifying application areas where digital technology would be of great value.
In the third phase, EY Global helps clients develop a transformational roadmap by consolidating prioritization and building a multi-phase transformational roadmap.
ArcTouch has set itself apart from the competition when it comes solely to blockchain consulting services. The blockchain development company specializes in helping companies gain a competitive advantage when it comes to conducting intensive technology workshops as well as providing application strategy.
The company has vast technical experience when it comes to working on Blockchain-as-a-Service (BaaS) on platforms such as Amazon Web Service, Microsoft, Ethereum, and Hyperledger. BaaS is one of the emerging enterprise blockchain business models.
The team specializes in providing valuable information on the implementation of various blockchain-based prototypes, as well as decentralized application development.
ArcTouch also offers blockchain consulting services to evaluate private blockchain networks. It also provides information on the development and implementation of smart contracts.
101 Blockchains is emerging as a comprehensive blockchain consulting platform. The online platform has carved out a niche market for itself when it comes to providing valuable information on blockchain technology.
Launched in 2018, its main goal is to help companies, as well as individuals, understand the technology itself and the businesses behind the new economy and navigate their way through the blockchain digital transformation.
The company is helping businesses clearly understand what blockchain is all about and how to take advantage of its capabilities. Valuable information on the basic components of blockchain technology, as well as market reports and notable vendors.
A subsidiary of Aplana Software, ABES Lab is a leading blockchain consulting firm headquartered in Philadelphia, USA. Leveraging the capabilities of its parent company, the company offers a wide range of blockchain consulting services ranging from architecture design to support and maintenance.
Like other leading blockchain consulting companies, ABES Lab also helps companies build blockchain-based applications as well as smart contracts.
However, its core operation revolves around helping companies implement innovative solutions, which integrate blockchain for supply chain as well as contract management.
ABES Lab seeks to equip companies with the skills to transform the contract management process into a fully automated process. The international blockchain consulting firm is well supported by a team of highly qualified personnel in matters related to dApp development.
The team is also very familiar with Hyperledger, Solidity, and Ethereum, which are at the heart of blockchain technology.
Based in India, Codezeros is an international blockchain consulting service provider that develops and services emerging technology. The company offers blockchain and cryptocurrency development services backed by a team of qualified developers and strategists.
Some of the blockchain consulting services it provides include the development of initial coin offerings as well as the development of digital wallets. The team also specializes in helping clients develop and harness the power of smart contracts in various operations.
The group also provides valuable information on developing decentralized applications to address multiple business needs.
San Francisco-based LeewayHertz is a renowned blockchain consulting company that offers a wide range of services geared towards leveraging the capabilities of blockchain technology.
As a provider of blockchain consulting services, the company has developed over a hundred large enterprise-grade digital platforms. The company has also made a name for itself developing mobile apps, as well as augmented and virtual reality solutions.
The blockchain consulting firm is comprised of a team of qualified blockchain developers with vast experience related to the technology.
Canadian Blockchain Mind is an international blockchain consulting firm that strives to help businesses, as well as individuals, assess how blockchain technology can be of great value to their operations.
Unlike other blockchain consulting firms, the company implements an integrative and revolutionary process when it comes to providing blockchain consulting services.
The company strives to change the way businesses do business by finding ways to integrate blockchain technology to improve efficiency and operations. A key area of expertise revolves around helping clients develop blockchain application solutions to address needs and challenges.
How to choose a blockchain consulting service provider?
The choice of which blockchain consulting firm to choose will always come down to many factors. Although blockchain consulting companies are tied to each other when it comes to the type of services they offer, the choice of the company depends on the services required.
While some blockchain consulting firms offer broad-based consulting services, others tend to specialize in niche areas around digital technology. The fact that the needs of companies, when it comes to the application of blockchain technology, varies, calls for a more cautious approach when choosing which blockchain consulting company to work with.
However, companies need to consider a few factors before engaging the services of blockchain consulting companies.
Reputation, Past Projects and Portfolio
Blockchain technology is continually evolving. For that reason, it would be essential to go for blockchain consulting firms that have completed some projects with great success and have garnered positive reviews.
These companies have robust teams of experienced staff capable of addressing various needs on how a business intends to take advantage of digital ledger technology.
Access to a local group of developers
Access to a local pool of developers is another critical factor a business should consider when engaging the services of a blockchain technology consulting firm.
Developers need to be readily available both in the development of a blockchain solution and in the implementation and maintenance of any subsequent applications.
Cost of Services
The cost of the service is another critical factor worth considering before signing a contract with a blockchain consulting firm. Blockchain is a revolutionary technology that is sure to cost a fortune given the limited number of skilled developers and experts.
However, the cost charged for blockchain consultancy should be reasonable enough given that technology is continually evolving and more changes will come in the long run.
When it comes to cost, you may need to go for a fixed price model if you have budget constraints on how much money can be spent on blockchain innovations. In this case, the developers will agree to work at a fixed price.
While it’s a surefire way to keep costs down, the model tends to make it difficult for a company to enjoy new changes or updates that a developer may be planning to implement.
For companies with large budget allocations, a captive unit model would be ideal. In this case, a blockchain consulting service provider would agree to hire and train the business research and development team. In addition, they would provide personal administrative, legal and management advice related to blockchain technology.
A dedicated team model would be ideal when a company wants to go a long way in developing a given blockchain solution. In this case, a blockchain technology consulting company could assemble a dedicated team of developers assigning them the responsibility of addressing all the needs of a given project until the end.
The dedicated team, in this case, will work as an extension of the internal business development or IT group, but will focus on blockchain innovations for the business.
Essential Skills Needed by Blockchain Consulting Firm
The Clear understanding of smart contracts
Smart contracts are at the heart of blockchain technology as they are shaping various business operations, especially contract management. Simply put, they are digital contracts that are applied automatically based on predetermined actions and instructions.
Knowledge of how to create a smart contract and implement it should be a no-brainer for any reputable blockchain technology consulting firm. Executing smart contracts is considered one of the core skills of any blockchain consultant.
Distributed Network Understanding
A blockchain consulting company should have a clear understanding of what a distributed network is. A clear understanding of how these networks work and how to maintain them is essential if a company wants to help its clients implement blockchain technology.
Distributed networks act as the foundation of blockchain technology on which various applications, such as smart contracts and decentralized applications, run.
Interconnecting blockchain ledgers across various platforms always comes with its fair share of risks and implementation challenges. Having a firm understanding of blockchain interoperability knowledge is a must for consulting firms.
For this reason, a blockchain consulting company must be in a position to navigate such hurdles, allowing a company to integrate and use various blockchain solutions on various platforms.
An open source mindset is essential in this case, as that is the only way a service provider could find a blockchain solution to use on any platform to drive business results and reduce latency.
The ability to select the right blockchain platform is essential, as that is the only way a blockchain consulting company could ensure that their clients enjoy the full benefits of blockchain technology. For this reason, any company providing blockchain services should be familiar with various blockchain platforms ranging from Hyperledger Fabric to Ethereum, as well as Ripple and R3 Corda.
Knowledge of various blockchain platforms allows blockchain service providers to identify the right platform ideal for any business need or process.
The fact that blockchain technology is constantly evolving requires improvements in security frameworks from time to time. It is essential for any international blockchain consulting firm to have a clear understanding of various security frameworks for legal compliance and regulatory needs.
How to create public and private cryptographic keys is essential if a company wants to ensure that its customers are always one step ahead of the bad guys.
The company should also be in a position to explain how the blockchain-based solution is efficient and easy to operate, as well as being secure and cheaper to maintain.
Global Blockchain Technology Consulting Firms
Despite blockchain consulting continuing to emerge as a lucrative business, various global consulting firms continue to hold divergent views on what to expect in the future. Consulting firms are increasingly publishing findings and statements about the burgeoning sector as companies and startups continue to seek professional advice.
According to New York-based McKinsey & Company, it will take five years for blockchain technology to reach its potential. According to the firm, the challenging regulatory environment, as well as transition costs, are some of the issues that continue to stifle blockchain integration in most businesses and organizations.
Additionally, the firm believes that Blockchain consulting firms will need to do more to identify clear business uses of blockchain for the technology to go mainstream.
Bain & Company, for its part, remains optimistic about the potential impact of blockchain technology, especially in the financial sector. According to the global management and consulting firm, blockchain has the potential to make it easier for banks to stand out from the competition.
Accenture, for its part, hopes that blockchain technology will provide a new infrastructure to build the next innovative applications. The consultancy also hopes that technology will generate profound positive changes in all companies.
Given the investments and the way, companies and organizations are hiring the services of blockchain consulting companies; Accenture expects Blockchain technology to power both artificial intelligence and the IoT.
PricewaterhouseCoopers, like Bain & Company, expects blockchain technology to have a huge impact on the financial services industry. The international consulting firm has already built strategic capabilities that it says will help financial institutions take advantage of transformative blockchain technology.
Blockchain technology will always have practical application and value as a revolutionary technology to improve efficiency. Since the technology is still in the early stages of development, the demand for blockchain consulting services should continue to increase.
Blockchain consulting firms with a reputation for helping businesses get a head start on using the technology should continue to enjoy booming business well into the future.