Abstract
Innovation in the blockchain technology is the process of bringing blockchain-based products and services to the market. As discussed in the previous chapters, blockchain is associated with a broad range of innovations, from specific products such as Bitcoin to platforms for the development of decentralized applications such as Ethereum. The ecosystem of innovation related to blockchain technologies sets the rate and direction of innovation and competence building on the blockchain technology. The central elements in the ecosystems of innovation are the main actors in the innovation process, their interlinkages through which knowledge and resources flow to enable innovation, and the institutions in place that set the rules, regulations and expected behaviour associated with blockchain innovation.
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