Extra-condensed knowledge
- The biggest challenge to companies creating blockchain apps isn’t the technology — it’s successfully collaborating with ecosystem partners.
- The Research
- The authors studied over a dozen live blockchain applications including TradeLens, the IBM Food Trust, the Grass Roots Farmer Cooperative, We.Trade, KoreConX, MediLedger, Santander (bond issuance and settlement), SmartResume, WineChain, ANSAcheck, Rapid Medical Parts (3D printing of parts to convert sleep apnea machines to hospital-grade respirators), Stellar (payments platform), and Xbox royalty payments (compensating content creators).
Genioux knowledge fact condensed as an image
Condensed knowledge
- Blockchain has been presented as a disruptive technology that holds the potential to revolutionize tech businesses and tech landscapes. While it may certainly accelerate technology road maps, it will most likely do that as a complement to existing technology.
- The pattern that has begun to emerge is one of blockchain complementing existing technologies instead of replacing them. Blockchain benefits from existing technology inputs instead of making them obsolete.
- Blockchain-enabled solutions are here for leaders and are coming for fast followers. Ecosystem partners need to be sold on the business vision, and the technology implementation should be relegated to the background.
Category 2: The Big Picture of the Digital Age
[genioux fact produced, deduced or extracted from MIT SMR]
Type of essential knowledge of this “genioux fact”: Essential Deduced and Extracted Knowledge (EDEK).
Type of validity of the "genioux fact".
- Inherited from sources + Supported by the knowledge of one or more experts + Supported by a research.
Authors of the genioux fact
References
What We’ve Learned So Far About Blockchain for Business, Mary Lacity and Remko Van Hoek, February 03, 2021, MIT Sloan Management Review, MIT SMR.
ABOUT THE AUTHORS
Mary Lacity is Walton Professor of Information Systems and director of the Blockchain Center of Excellence at the Sam M. Walton College of Business at the University of Arkansas. Remko Van Hoek is a professor of practice at the Sam M. Walton College of Business and executive director of the CSCMP Supply Chain Hall of Fame, which is hosted by the college.
Extracted from Walton College
Professor - WCOB
(WCOB)-Walton College of Business
(ISYS)-Information Systems
Dr. Mary C. Lacity is Walton Professor of Information Systems and Director of the Blockchain Center of Excellence in Sam M. Walton College of Business at The University of Arkansas.
She has published 30 books, most recently Blockchain Fundamentals for the Internet of Value. Her publications have appeared in the Harvard Business Review, Sloan Management Review, MIS Quarterly, MIS Quarterly Executive, IEEE Computer, Communications of the ACM, and many other academic and practitioner outlets.
Professor - WCOB
(WCOB)-Walton College of Business
(LSCM)-Supply Chain Management
Dr. van Hoek is part of the SCM department and teaches Sourcing and Procurement at all levels. Prior to joining the UofA he taught in Europe and was a visiting prof at the Cranfield School of Management while holding supply chain and procurement executive roles in several companies, around the world, including Nike, PwC and the Walt Disney Company. Dr. van Hoek served on the Board of Directors of CSCMP and serves as the executive director of the CSCMP Supply Chain Hall of Fame, hosted by the Sam M. Walton College of Business.