Blockchain is a technology that needs no introduction: its impact is on modern industries undeniable and widespread. With healthcare, finance, insurance, e-commerce, programming, etc., being influenced by Blockchain technology. And it’s already widely used to dismiss the middleman on many commercial platforms.
If you, as a business owner, are thinking about the introduction of blockchain development as well, the most important question is: Outsourcing vs In-House.
You could hire a long-established blockchain development team and trust it wholeheartedly or create it yourself, picking out particular individuals that have struck your fancy. Should you seek outside help, or collect a team of professionals to implement your ideas?
Defining the Methods
Outsourcing is a process of gathering required skills and knowledge by seeking external help from companies and development teams, whereas In-House is a process of building a team yourself, meticulously interviewing, and recruiting people one by one.
Each method has its up- and downsides, on which we will focus our attention later on.
High demands of the Modern Blockchain Market
Blockchain is a nightmarishly demanding field: staying afloat requires massive up-to-day knowledge and constant training. One thing is for sure: there will always be a reliable expert team, ready to put up with complicated tasks – all you need to do is to find one. The developers you seek should possess a top-to-bottom understanding of cryptocurrency models and Blockchain, have experience with Baas/Saas/PaaS and FP technology, as well as cover a lot of security tests to guarantee stability and invulnerability for the software solution. Without these qualities, developers are to be consumed by the market quickly.
In-House and Outsourcing
Now we will focus on the palpable differences between the approaches. Safe to say both e their pros- and cons, being aware of them is a step towards making a wise choice.
Outsourcing might be risky, that is not to mention the price you might have to pay: whether it’ll be worth the money or not, it all depends on you and your decision. Outsourcing lets you care less about the technical part of the question and save time, thus focusing on other aspects of product development: marketing, analysis, etc. Managing risks is a little easier, and requires less control on your behalf (which, to be fair, can become a major downside if you let everything slide).
Recruitment is not an issue, as the team is pre-established and likewise experienced, communication within the group won’t be a problem either. Scaling is an option as well, as you can split the project into phases.
Overall, outsourcing is cost-effective and reliable, but it all boils down to the team you choose and its performance. Seek professionals, well-versed in Blockchain and IT, business matters, and the specifics of the market you are going for. That alone is a tough task to deal with: outsourcing is not a risk-free enterprise by any means.
Finding a development team for your Blockchain project
Finding the appropriate Blockchain development team is tricky, but the algorithm is pretty similar to that of a SaaS. There are some essential steps we recommend you should follow.
First things first, look for companies with a rich client history and a solid background. You might want to look for development teams that take on tasks similar to those you yourself wish to solve. Experience with data management, security, and cryptography would come in handy. Look through the portfolios, contact the company’s previous clients, check the product of the company… These steps are guidelines, but following them is a great start and a huge time-saver.
In-House development has its benefits too. In-House is an option if you want to have more control over the situation as a whole, it can be much less expensive than outsourcing, and your staff will most likely be available at all times and for much longer, meaning updating, fixing, assisting, and streamlining the project will be faster, cheaper, and comfier.
Assembling a team can be demanding and time-consuming, not to mention retention and the need to make sure of adequate communication within the team.
In-House requires much more care and attention, for the reasons mentioned above. Ask yourself: are you willing to spend extra time and money in doing so? If tended to with proper care, the method can show stunning results, but you have to be aware of the risks involved.
Can one use both methods at once?
It is possible. Making the best out of twoapproaches simultaneously is efficient. By applying this mixture, you can quickly add experts to the team, reduce business risks as you needn’t make a long-term commitment, adjust the control over the development process, communicate with the team, and increase the overall flexibility of the enterprise. You will have greater visibility over the project and the course of its development, sharing ideas and guiding the team. And there are some advantages, even like cut the cost by paying for extra hands only then they are in demand.
Or doing the technical audit with the help of external experts. This guaranty, that all the issues will be represented to you, as the arbitrator, with arguments from both sides. So, you’ll have a realistic picture of the quality of the software.
This approach is suitable for large, multi-leveled, and complex projects that require massive and long toil. But it’s very useful for a quick test of a new market idea when the design of a small project (MVP) is delegated to the outsourced IT team, while the regular tasks are covered by the in-house team. If you put your mind to it, it should pay off.
Choosing the right approach for the Project
Before jumping right into the action, you should have a clear picture of what you want your product to be. Ask yourself about your goals, the finance you possess, platforms you wish to use to launch the project, skillset you are looking for… You must understand what you are going for so that your future team could too.
You must choose wisely and do your research meticulously, analyzing the risks, the market, the companies. To have a relatable partner which can help you on a regular basis, but do not need to be cared for as your in-house team, could be very valuable.