• Creating value through blockchain technology: A Delphi study

      Schlecht, Laura; Schneider, Sabrina; Buchwald, Arne (2020)
      The blockchain technology has gained increasing attention and awareness in both corporate practice and academia. Both sides expect the technology’s impact on business and society to be fundamental. However, more in-depth insights into how blockchain will disrupt the way businesses create and cap-ture value are limited. In response to the prevalent uncertainty about the future developments caused by blockchain, this study aims at identifying the prospective value creation potentials for organiza-tions. This forecasting study builds on a Delphi approach to derive reliable predictions about block-chain’s future developments by 2030 in the business model context. We specifically discuss how block-chain is likely to influence value creation in the business model context. Based on expert interviews, workshop insights, and prior literature, we developed a meaningful set of 36 projections on the impli-cations of the blockchain’s future developments. Our findings predict that blockchain will mainly cre-ate value by massively increasing efficiency gains, which forms the basis for making entirely new business models feasible. We complement this finding by revealing that blockchain technology will create the most value, not in isolation, but in combination with other technologies. Our research re-duces some of the environmental uncertainty managers face and identify relevant avenues for future research.
    • The prospective value creation potential of blockchain in business models: A Delphi study

      Schlecht, Laura; Schneider, Sabrina; Buchwald, Arne (Technological Forecasting & Social Change, 2021)
      Blockchain technology is gaining awareness and drawing attention in corporate practice and academia. Both fields expect a fundamental impact of blockchain on business and society. However, since blockchain research within the business model context is still in a nascent stage, more in-depth insights is required of blockchain’s impact on firms’ value creation and value capture. This study builds on a Delphi approach and aims to identify the future value creation potential of blockchain for organizations by 2030. Based on expert interviews, workshop insights, and prior literature, we developed a meaningful set of 36 projections of blockchain implications for business models. Our findings, based on the elements of the PEST framework, predict massive efficiency gains through technological progress and promise complementary offerings through various novel combination possibilities, novel forms of collaboration and business model opportunities, and a dissipation of the significance of blockchain types. The combined use of blockchain solutions with other technologies is likely to serve as the basis for ecosystem developments. Our projected finding is that the internet of value will replace the internet of information by 2030. Thereby, our research contributes to technological forecasting and strategic planning by providing managers clear indications of blockchain developments and action recommendations.