The failure rate of blockchain projects continues to exceed 90%. It seems that more and more enterprises are introducing new blockchain projects into tombs all the time. One of the latest victims of blockchain failure is Ferdinand Maersk, which recently announced the discontinuation of its well-known TradeLens merchandise, a global trading platform based on IBM blockchain technology.

However, this failure is actually predictable, and in most cases, it can be dealt with if companies follow some lessons such as innovation contagion more closely.

Lesson one: innovation is not monolithic.One of the major inaccuracies that companies have made is to regard innovation as a monolithic concept. Innovation is not monolithic. Unfortunately, business associations, business media and international business schools love to create endless innovation details and innovation awards to strengthen the core idea that all innovation is the same.

Clayton Christensen.The New York Times bestsellerThe dilemma of innovatorsIt is one of the earliest important attempts to distinguish the categories of innovation. His work is good for opening conversations, but a better architecture for the classification of innovation comes from Rebecca Bosk and Kim Walters, who identify four different innovations: progressive, modular, architectural or radical.

Although some innovation is likely to be suitable for modular design and architectural design types, the key to the blockchain is breakthrough. As disruptive innovation replaces the current framework, interaction, and internal organization, the best initial use and innovation will come from smaller / start-ups, not IBM, Maersk or other Fortune 100 companies.

Lesson two: diversity is the killer of innovation.The same applies to modular design and radical innovation. Everett Marks stresses that there is an inverse correlation between diversity and the ability to choose innovative ideas and abilities. This diversity is related not only to the use of the blockchain itself, but also to the internal structural decision-making process, the degree of change that needs to be adopted, and how much new knowledge must be implemented.

Experts and scholars briefly describe the difficulties of implementing projects such as TradeLens because "this technology is very complex, requires more computing, and is more expensive to use than current databases." Making the delivery of new IBM- Maersk blockchain projects more and more complex means that these large and medium-sized multinationals are highly diverse.

In the next round of important technological innovation-- the social networking industry-- it is not the dedicated tools, technologies, platforms and that launched by well-known participants that promote initial innovation and selection. This is a start-up-the management decision cycle is short, it can be integrated with minimal internal structural changes, and new knowledge can basically be absorbed by the organization at once.

Because of this dynamic nature, the initial successful innovation and promotion of blockchain is more likely to appear in simple applications developed by much smaller and more down-to-earth enterprises. this kind of application software replaces or reconstructs the simple steps that revolve around how to accomplish work tasks, produce products, or promote buying and selling to each other.

Lesson 3: different types of innovation require different risk tolerance.One of the key differences among these four types of innovation is the risk tolerance needed to become a reasonable innovator. The risk tolerance of progressive innovation is relatively low, while pioneering innovation must have a higher risk tolerance.

The important point is that tolerance here depends not only on the risk or probability that a new project is likely to fail. Assessing the risk of innovation also continues to take into account the probability of devastating failure of all institutions, which means that if use or innovation fails, all institutions are at risk of failure, not just innovation.

Miles Bean's use of Sabermetrics for the roster form infrastructure and management of Canberra sports teams in the 21st century is a well-known example of the innovative use of modular design. This innovation adds to the reluctance of any other Uefa Cup football team to take personal or institutional risks.

For team A, the defeat should not be catastrophic (that is, the football team is no longer a Uefa Cup concession). However, the cost may be very high. Bean will also lose his job (like many others). Disgruntled fans will basically punish the football team to stay at home and stop buying clothes, resulting in a sharp drop in revenue. And team A will become a highly acclaimed minor league football team.

Blockchain, as a radical innovation, must be more risk tolerant to innovation and selection-want to take all risks. Enterprises that carry out patching (increment or architectural design innovation) at the edge of the project can withdraw directly if the innovation fails, and are more likely to experience blockchain failure in the early stages of innovation.

Blockchain and other fragmented technologies bring great expectations for changing the development trend of more intensive production processes and power engineering methods at this stage. The final daily task is to combine your time, efforts and resources with the innovative lessons provided here, and the best opportunity to make this blockchain technological revolution successful.

Lyle Swim. is the chief innovation officer for Atlas Network. He holds a doctorate in education with an emphasis in organizational leadership from Pepperdine University. He has a bachelor’s degree in communications and an MBA from Brigham Young University.