Practical Takeaway
Evaluating blockchain vendors for enterprise projects requires different criteria than standard software vendor evaluation. Here is the weighted scoring matrix used by enterprise IT procurement teams.
Full Resource
Enterprise blockchain vendor evaluation requires 10 weighted criteria: Verifiable blockchain portfolio (20%), Industry-specific experience (15%), Security/audit track record (15%), US regulatory expertise (10%), Technical process maturity (10%), Enterprise integration experience (10%), Team qualifications (10%), Pricing model (5%), References quality (5%), Financial stability (0-5%). Non-negotiable disqualifiers: no verifiable on-chain portfolio, fake audits, anonymous team.
The 10-Criterion Scoring Matrix
| Criterion | Weight | Evaluation Method |
|---|---|---|
| Verifiable blockchain portfolio | 20% | Check smart contract addresses on Etherscan; verify audit reports on audit firm websites |
| Industry-specific experience | 15% | Similar industry case studies; verify with direct client references |
| Security/audit track record | 15% | Published audit reports from recognized firms; no critical exploits on delivered code |
| US regulatory expertise | 10% | Can accurately explain relevant regulations; works with qualified legal counsel |
| Technical process maturity | 10% | Specification-first process; documented testing standards; deployment runbook |
| Enterprise integration experience | 10% | SAP/Oracle/Dynamics integration references; specific integration patterns |
| Team qualifications | 10% | Named engineers with verifiable blockchain experience; not subcontracted |
| Pricing model | 5% | Fixed-scope preferred; clear change order process |
| References quality | 5% | Direct client contacts; willing to speak to challenges as well as successes |
Red Flags That Should Eliminate a Vendor
Cannot provide verifiable on-chain portfolio
Audit 'reports' not published on auditing firm's own website
Time-and-materials pricing with no cap
Anonymous team (no named, verifiable individuals)
Unable to name the regulatory framework applicable to your specific use case
References who cannot be contacted directly
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