Abstract
Blockchain technology is expected to create a variety of new opportunities for businesses. Yet, little is known about how the technology actually enables to create value and how companies will be able to exploit true business value. However, without a clear understanding of the value creation potential from the technology, and corresponding adaption of business practices, the realization of value is doomed to failure. Hence, we contribute to this gap by exploring and explicating the specificities of value creation from blockchain in the ecosystem of a car. In the course of an exploratory case study analysis, over a time period of 2 years, we conducted three iterations of interviews and workshops with industry and blockchain experts from five diverse stakeholder groups. In brief, we provide early evidence that (1) blockchain enables value creation through: Distributed Product Innovation, Shared Operational Efficiency, and Controlled Customer Intimacy. Furthermore, we discuss our learnings for businesses in other domains aiming to leverage value from blockchain technology. We do so, by deriving guidelines for each blockchain value discipline. Furthermore, we give recommendations on how blockchain projects in ecosystems should approach multiple blockchain value potentials.
Highlights
Whenever a company embraces a new technology they aim for some form of value generation to either create or to sustain competitive advantage (Peppard and Ward, 2004)
The paper is structured as follows: in section Related Work we depart from digital technologies and digital innovation, we introduce blockchain, and describe the three value disciplines that served as our theoretical lens to analyze the business potential in the Car Dossier project
We will focus on one business concept and explain on the horizontal level the pervasive character of blockchain enabled value creation
Summary
Whenever a company embraces a new technology they aim for some form of value generation to either create or to sustain competitive advantage (Peppard and Ward, 2004). This applies for blockchain, the technology that is expected to have great impact on a vast variety of industries (Morabito, 2017). According to the IDC’s (International Data Corporation) statistics, between 2018 and 2019, the worldwide spending on blockchain solutions increased by 88.7% (from $1.5 billion to $2.9 billion) This amount is expected to continue growing with a compound annual growth rate of 76% and to reach $12.4 billion in 2022 (Shirer et al, 2019). Despite great investments and promising benefits, it is not yet clear how companies will be able to exploit business value
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
