Drawing a Blockchain Decision Tree

By Tiana Laurence

Some of the decisions you face while working on a blockchain project within your organization can be difficult and challenging. It pays to take time making decisions that involve

  • Uncertainty: Many of the facts around blockchain technology may be unknown and untested.
  • Complexity: Blockchains have many interrelated factors to consider.
  • High-risk consequences: The impact of the decision may be significant to your organization.
  • Alternatives: There may be alternative technologies and types of blockchains, each with its own set of uncertainties and consequences.
  • Interpersonal issues: You need to understand how blockchain technology could affect different people within your organization.

A decision tree is a useful support tool that will help you uncover consequences, event outcomes, resource costs, and utility of developing a blockchain project.

You can draw decision trees on paper or use a computer application. Here are the steps to create one for uncovering other challenges around your project:

  1. Get a large sheet of paper.

    The more choices there are, and the more complicated the decision, the bigger the sheet of paper you’ll need.

  2. Draw a square on the left side of the paper.
  3. Write a description of the core goal and criteria for your project in that square.
  4. Draw lines to the right of the square for each issue.
  5. Write a description of each issue along each line.

    Assign a probability value to encounter each issue.

  6. Brainstorm solutions for each issue.
  7. Write a description of each solution along each line.
  8. Continue this process until you’ve explored each issue and discovered a possible solution for each.

Have teammates challenge and review all your issues and solutions before finalizing it.