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Start Date

16-8-2018 12:00 AM

Description

The emergence of blockchain technology, most known due to the hype around Bitcoin, has the potential to transform entire industries, such as banking, insurance, or the Internet of Things (IoT). Yet, parallel ecosystems like cryptocurrencies that substitute products and services of traditional financial institutions emerged. However, literature does not provide a structured overview of the blockchain ecosystem. By analyzing 479 blockchain companies reported in the Crunchbase database, this paper visualizes the current blockchain ecosystem using the e3-value method consisting of eleven generic roles. Moreover, we identify three strategic implications where blockchain is fundamentally different from prior approaches: governance, trust, and openness. Scholars can apply the generic ecosystem for future research, while practitioners can use the model to identify possible disruptive actors or potential business opportunities.

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Aug 16th, 12:00 AM

The Generic Blockchain Ecosystem and its Strategic Implications

The emergence of blockchain technology, most known due to the hype around Bitcoin, has the potential to transform entire industries, such as banking, insurance, or the Internet of Things (IoT). Yet, parallel ecosystems like cryptocurrencies that substitute products and services of traditional financial institutions emerged. However, literature does not provide a structured overview of the blockchain ecosystem. By analyzing 479 blockchain companies reported in the Crunchbase database, this paper visualizes the current blockchain ecosystem using the e3-value method consisting of eleven generic roles. Moreover, we identify three strategic implications where blockchain is fundamentally different from prior approaches: governance, trust, and openness. Scholars can apply the generic ecosystem for future research, while practitioners can use the model to identify possible disruptive actors or potential business opportunities.