Blockchain is emerging as a foundational technology, but there is still groundwork to be done on standards development and the governance of change — and doing that work is critical to enterprise strategy
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Blockchain technology is among the most disruptive forces of the past decade. Its power to record, enable, and secure huge numbers and varieties of transactions raises an intriguing question: Can the same distributed ledger technology that powers bitcoin also enable better execution of strategic projects in a conservative sector like construction, involving large teams of contractors and subcontractors and an abundance of building codes, safety regulations, and standards?
This research looks at blockchain technology’s impact on enterprise strategy and the role of the chief strategy officer. It discusses new elements of strategic design and delivery—shared ledgers, smart contracts, and tokenized assets—and develops the concept of strategic liquidity, the degree to which an enterprise can manoeuvre in a competitive environment and dynamically reallocate resources and access capabilities. It frames implementation challenges as areas for further research and opportunities to participate in blockchain standards development. Finally, it suggests ways for companies to cultivate blockchain knowledge and expertise. Research sponsored by the Blockchain Research Institute and the Brightline Initiative.