A Technology Readiness Level for Blockchain

Abstract

Blockchain technology has seen practical application since 2009. However, the suitable selection of blockchain technology for any particular application is currently completed using no standard formalised process with limited understanding of where a particular blockchain is in its development maturity against its peers, or peer sector. Technology Readiness Levels (TRLs) offer a common and well known method for identifying the maturity of a technology. However, new TRL definitions have been required to address sector specific requirements. This work addresses these challenges and presents a novel Blockchain Readiness Level (BRL) for identifying the maturity of blockchain technology.