Blockchain technology continues to go mainstream at a rapid pace, and that is leading many companies to consider how best to move forward with blockchain app development projects.

Since most companies lack this blockchain expertise in-house, they are increasingly turning their attention to outsourcing solutions. How do they go about finding the perfect blockchain developers for the job?

Blockchain-Specific Competencies

The starting point for hiring the right blockchain development company is ensuring that team members have the right blockchain-specific competencies. Two common blockchain-related projects include building a distributed app (dApp) on top of an existing blockchain and creating a smart contract for a specific blockchain. In both cases, you will want to make sure that your blockchain app development team has the right background to carry out these projects.

You will want to make sure that the team has plenty of skills and expertise in areas such as cryptography, distributed ledgers, and P2P networks. It’s even better if they also have experience related to a specific blockchain, such as Ethereum. Since many smart contracts are now written for the Ethereum blockchain, it may be necessary for the app development team to have knowledge of Solidity, a programming language unique to Ethereum.

A Strategic Approach to Blockchain Development

Building a blockchain is far more complex than building something like a mobile app, so you want to make sure that your blockchain app development team has more than just technical skills. These developers must also have a strategic approach to blockchain development that helps them understand the specific business purposes of the project, and how you plan to reach those goals.

As a general rule, all blockchain projects can be divided into several different categories. Before hiring the team, make sure that you are both on the same page as to the scale and scope of the project. This is especially true if you are planning on building a blockchain for internal use within your organization.

The Right Outsourcing Model

Many people tend to assume that “outsourcing” is a one-size-fits-all solution. That’s simply not the case, as there are several different outsourcing models that describe how a team is assembled and how a project is executed. Four of the most common models include the following:

  • Fixed price model
  • Dedicated team model
  • Build-Operate-Transfer model
  • Vertical Captive Unit model

As a company looking to gain a foothold in a foreign country as part of a global expansion initiative, you might want to consider a Build-Operate-Transfer model, in which you will eventually acquire ownership over the entire team and facility. When you contact a blockchain development company, you will want to ask them about the various types of outsourcing models that might be available.

2018 is already shaping up to be the most exciting year yet for blockchain technology. It’s not too late to start your own blockchain app development project. These guidelines can help find the perfect blockchain developers to make your strategic concept a reality.