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Unveiling blockchain as a strategic resource

Unveiling blockchain as a strategic resource This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.Design/methodology/approachThis briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.FindingsThis conceptual paper concentrates on the strategic use of blockchain as a way of organizations gaining ongoing competitive advantages. Moving deeper into the fourth industrial revolution, the organizational advantages of blockchain implementation are the secure, verifiable, peer-to-peer transparency of agreement or communication mechanisms like smart contracts, since they can enhance organizational efficiency and therefore competitive performance. However, blockchain currently remains in a nascent phase on a practical use level, meaning organizations can now strategically prepare to adopt its capabilities in future. This is done by teams educating themselves about blockchain, and by defining problems that the technology could solve.Originality/valueThe briefing saves busy executives, strategists and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Strategic Direction Emerald Publishing

Unveiling blockchain as a strategic resource

Strategic Direction , Volume 37 (6): 3 – Jun 29, 2021

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References (1)

Publisher
Emerald Publishing
Copyright
© Emerald Publishing Limited
ISSN
0258-0543
DOI
10.1108/sd-04-2021-0034
Publisher site
See Article on Publisher Site

Abstract

This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.Design/methodology/approachThis briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.FindingsThis conceptual paper concentrates on the strategic use of blockchain as a way of organizations gaining ongoing competitive advantages. Moving deeper into the fourth industrial revolution, the organizational advantages of blockchain implementation are the secure, verifiable, peer-to-peer transparency of agreement or communication mechanisms like smart contracts, since they can enhance organizational efficiency and therefore competitive performance. However, blockchain currently remains in a nascent phase on a practical use level, meaning organizations can now strategically prepare to adopt its capabilities in future. This is done by teams educating themselves about blockchain, and by defining problems that the technology could solve.Originality/valueThe briefing saves busy executives, strategists and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Journal

Strategic DirectionEmerald Publishing

Published: Jun 29, 2021

Keywords: Blockchain; Competitive advantage; Smart contracts; Cryptocurrency; Ethereum; Intangible resource

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