Organizing for value creation in blockchain information systems

Abstract

Many blockchain consortia have been established to build blockchain information systems. While the developed blockchain information systems were promising, few have reached market entry. Indeed, blockchain consortia often lost development focus due to high system complexity and a lack of understanding of how to create a system that will serve the needs and bring value to all stakeholders. Thus, stakeholders struggled to leverage blockchain information systems' full value. Prior studies demonstrated that blockchain systems pose not only technical but also organizational challenges. Analysing six blockchain consortia, we identify their value mechanisms, organizational problems, and organizational solutions that successful blockchain consortia experience while organizing themselves for value. As a result, we propose a new organizational form, i.e., a layered organization, for blockchain consortia to achieve better value creation.