Blockchain technology is becoming increasingly important for companies that want to reorganise their business strategy and make it future-proof. It helps to organise processes more transparently, securely and efficiently. More and more companies are reporting that blockchain technology has given them impetus for innovative products and improved business models. This technology not only revolutionises traditional processes, but also enables the development of completely new value propositions.
How blockchain technology creates added value
Companies from a wide range of industries are realising that blockchain technology is not just a technical aid, but a strategic tool. It decentralises business processes and creates trust through unchangeable, transparent data. This enables manufacturers to trace the origin and quality of products all the way to the end customer in supply chain management. In the financial sector, too, transactions are processed faster, more securely and more directly, which increases customer confidence.
In the logistics sector, blockchain is used to make supply chains more transparent and tamper-proof. Transport companies report that they can react better to unforeseen events and manage delivery times more precisely thanks to blockchain technology. Insurance companies also benefit because they can process claims more easily and traceably with automated smart contracts.
BEST PRACTICE at company XYZ (name changed due to NDA contract): Blockchain technology was implemented here to make supply chains transparent. As a result, the number of faulty shipments was reduced by 25 %. Stakeholders benefited from greater traceability and confidence in product quality.
Areas of application and examples in various industries
In the energy sector, blockchain technology supports peer-to-peer trading of renewable energy. Households can sell surplus electricity directly to neighbours, which promotes the energy transition in the long term. Companies in the food industry use it to trace goods from the farm to the supermarket. Customers can always be sure where their product comes from.
The public sector is also undergoing a transformation with blockchain: smart contracts are helping to speed up approval procedures and increase transparency in tenders. In the area of digital knowledge management, companies are using blockchain technology to secure digital rights and licences, which improves the protection of intellectual property.
BEST PRACTICE at ABC (name changed due to NDA agreement): Blockchain technology was utilised to automate the trading of digital certificates. The result was a reduction in administrative effort of 40 % and faster processing times, which brought tangible added value to customers.
Supporting the strategic implementation of blockchain technology
Many companies come to me with questions about the integration of blockchain technology. Typically, they want to know how the technology can complement their existing systems. They are also looking for support in selecting the right use cases and technical implementation.
In order to provide targeted support here, it makes sense to first analyse the business areas in detail and identify their potential for blockchain applications. Specific roadmaps with clear objectives can then be drawn up. Proof of concepts (PoCs) are used to test how practicable individual solutions are in day-to-day business.
This is particularly true for companies that operate complex supply chains, financial transactions or digital platforms. Accompanying coaching ensures that blockchain technology is not understood in isolation, but as an integrated part of the business strategy. This opens up new development and business opportunities.
BEST PRACTICE at the company DEF (name changed due to NDA agreement): Following a detailed analysis, blockchain technology was gradually integrated into an existing customer loyalty programme. This significantly increased customer loyalty and trust in the service.
Tips for a successful launch
The introduction of blockchain technology benefits from a holistic approach. Firstly, companies should be open to change and challenge myths surrounding the technology. Secondly, close collaboration with internal departments and external partners is important. Thirdly, patience is required, as such digital transformations take time to have a lasting impact.
It is also advisable to first identify scalable use cases in order to achieve measurable success quickly. These include track & trace in supply chains, automated contract processing or the secure exchange of data. Such applications often also have a positive effect on customer loyalty and internal processes.
My analysis
Blockchain technology opens up a wide range of possibilities for improving business strategy. It helps companies to make processes more secure and transparent and to develop new business models. Although the integration poses technical and organisational challenges, many companies report that they are experiencing valuable impetus as a result. Accompanying professional support during the introduction can make this transformation easier and more sustainable.
Further links from the text above:
Blockchain technology: How companies are transforming their business models - MHP
Blockchain business models - Blockchain Europe
Influence of blockchain technology on business models - TU Clausthal
Blockchain business models - Business Model Analyst
Blockchain in the supply chain - PwC
Blockchain technology & application examples in the industry - Mindworks
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