Managing Blockchain Projects with Agile Methodology

Abstract

Blockchain technology is one of the latest and recent famous technologies in the digital world. Most organizations, especially financial institutions observed and felt the changes that were created in cryptocurrency markets. As blockchain is the hosted environment and the backbone of the crypto currencies like Bitcoin, Litecoin and Ethereum they believe they should adopt some of their provided services on this technology. Many entities in the region are interested to be pioneers on providing services on recent and widely trusted and accepted technologies like blockchain. Researchers and interested personnel expected that, blockchain technology will be capable to minimize the requirement of multiple participants in many businesses. Business processes will need to be reengineered on the firm. In addition, it is expected to reduce required time and resources to complete a transaction. Managing projects on blockchain technology will be different from managing other projects as these types of project will require the ability to change and a lot of preparations for unexpected. This paper highlights briefly this technology mentioning its concepts, types and phases. In addition, it is listed how agile project management could suite the management of blockchain applications.