Blockchain and Business: Applications and Implications

The corporation represents a pillar of modern capitalism. With the rise of a global peer-to-peer platform for identity, trust, reputation, and transactions, we will be able to re-engineer deep structures of the firm for innovation and shared value creation. In this module, we explore blockchain’s role in decentralizing the enterprise and its implications on the roles and boundaries of the firm.

There are countless opportunities for blockchain to disrupt or displace traditional centralized business models. In this module, we explore how blockchain technology can support “open networked enterprise” business models through the inclusion of native payment systems, reputation systems, uncensorable content, trustless transactions, smart contracts, and autonomous agents.

Because blockchain changes the deep structures and architecture of the firm, it will consequently transform our models of management and the roles of the C-Suite. Navigating the balance between blockchain’s hype and its true potential is a key responsibility of an organization’s management team. In this module, you will learn about some of the decisions and changes that business leaders can anticipate when considering how the future of blockchain will unfold within their business.

Blockchain alone is just a tool. In order for this technology to fulfill its long-term promise, humans must lead. Rather than relying on state-based institutions, blockchain must be primarily self-governed through collaborations of civil society, private sector, government, and stakeholders in non-state networks. In this module, we discuss the idea of blockchain governance networks and explain how they can support blockchain stewardship at three levels: The platform level, the application level, and the ecosystem level. As well, you will learn about the conditions that are necessary for a blockchain-based hub of innovation to succeed.