| dc.description.abstract | Technological antecedents can radically change the way firms organize value creation and
engage in value exchange. Blockchain, considered to be an extension of internet is said to
have the potential to disrupt many industries. Blockchain is an open, decentralised ledger for
recording and moving information, value, assets between peers without the assistance of
intermediaries. The transactions are done with in minutes and have minimal transaction fees.
Given blockchain’s potential to disrupt many industries, it is important to investigate its
implications on business models, which represent how firms create, deliver and capture
value. Keeping this in view, the aim of this research is to study how the attributes of
blockchain affect the elements of a business model. In order to see the impact of these
attributes on individual elements of a business model, a framework was developed based on
the works of Teece (2010), Zott and Amir (2010), Ostwalder & Pignuer (2010) and Weill &
Woerner (2013).
Using Delphi Technique methodology, the impact of the attributes of blockchain on the
elements of business model was assessed. From the results of the study, it was inferred that
blockchain has the potential to facilitate significant innovation in business model. However,
it should be kept in mind that the results would be most applicable to firms who rely on
intermediaries for recording and exchanging information, value, assets. The more the
reliance on such intermediaries, the greater the expected benefits of using blockchain to
innovate business model. Whereas, intermediaries who provide services with regards to
recording and exchanging information, value or assets face great risk from blockchain, and
thus should look to either incorporate blockchain in their business models or find other
means to counter the threat. | nb_NO |
