Blockchain technology has been the talk of the town for several years now, not only because it enables cryptocurrencies such as Bitcoin, but also because it opens up new ways of digitalising and optimising business processes. Companies that are currently grappling with the question of how to future-proof their business model will inevitably come across the potential of blockchain technology. It offers an innovative solution for creating greater transparency, security and efficiency - across borders and industries. Those who understand blockchain and utilise it in a targeted manner can generate competitive advantages and radically simplify processes[1].
Basic principles and added value of blockchain technology
Blockchains are distributed, decentralised databases in which transactions, contracts or documents are documented in a tamper-proof manner. The data is traceable for all participants because every piece of information is stored in a tamper-proof and unchangeable history. This often eliminates the need for centralised authorities that previously had to guarantee trust - i.e. intermediaries such as banks or notaries[2]. Smart contracts automate processes and ensure that agreements are executed independently and without exception. This new level of automation inspires companies because it reduces costs and minimises risks[4].
BEST PRACTICE at the customer (name hidden due to NDA contract) A manufacturing company wanted to digitalise its supply chain because the manual tracking of raw materials and intermediate products was too time-consuming and error-prone. We supported the company in developing a blockchain-based solution to seamlessly document every step of production. The result: suppliers, production sites and retailers were able to view the status of the goods in real time. Complaints were processed more quickly because the causes were clearly traceable. Customer satisfaction increased because the transparency created new potential for trust.
Three further examples from everyday life show the potential for change offered by blockchain technology:
- In payment transactions, more and more banks are using blockchain processes to make international transactions faster and cheaper - without having to go through traditional correspondent banks[2].
- In retail, an international market leader is already using a blockchain to verify the origin of food and drastically shorten recall campaigns in the event of quality problems[8].
- In logistics, companies benefit from blockchain technology because they can store freight documents, customs clearances and insurance settlements digitally and immutably[10].
Blockchain technology in B2B: first-hand use cases
Major international corporations are showing how blockchain applications can be integrated into the value chain. A renowned US manufacturer is developing a blockchain-based maintenance logbook together with Microsoft: every repair step of a vehicle, every inspection and every service is stored directly in the cloud so that garages, buyers and insurance companies are always up to date[6]. Another example is provided by a global logistics service provider: in cooperation with Microsoft, an insurance processing system was set up using blockchain, which increases security against manipulation and speeds up claims processing[6]. Travel agents and booking platforms also use blockchain technology to secure reservations and payment flows and avoid double bookings[6].
BEST PRACTICE at the customer (name hidden due to NDA contract) An international energy supplier wanted to automate the charging processes for electric cars. We worked with the company to examine how a digital agent can negotiate directly with charging stations - based on a blockchain-based contract system. Prices and billing are now fully automated, and users benefit from unlimited choice and fair conditions. The collaboration with Bosch and EnBW shows how decentralised, automated value creation works[4].
Where companies are actually getting started with blockchain
Medium-sized companies and start-ups can also benefit from blockchain technology if they pursue the following approaches:
- Supply chains and flows of goods are seamlessly documented with blockchain. This reduces transaction costs, as time-consuming reconciliation processes are no longer necessary, and increases delivery reliability[9].
- Digital certificates and identities can be issued and managed in a forgery-proof manner. Blockchain technology is particularly suitable for areas in which the trustworthiness of evidence is crucial.
- In Industry 4.0, smart contracts enable direct, automated communication between machines - for example, when a production robot orders parts itself and triggers payments.
Blockchain added value for your company: Practical tips
If you want to use blockchain technology, you should first identify specific processes in which trust, transparency and data security play a major role. Check whether simple processes can be digitalised and automated. Learn from best practice examples from your industry and think across sectors: many companies benefit from collaborations and open ecosystems because they create economies of scale. Consider whether internal processes as well as external partnerships can benefit from blockchain technology.
Our transruptions coaching accompanies companies on this journey - from the initial idea through to concrete implementation. We stand for an open, critical exchange and show the opportunities and risks associated with blockchain technology. Clients often report that they feel inhibited at the beginning. However, trust in the new possibilities grows during the joint working process, and innovative business models emerge that would be unthinkable without blockchain.
BEST PRACTICE at the customer (name hidden due to NDA contract) A medium-sized service provider in the healthcare sector wanted to enable the secure exchange of patient records. Together, we developed a blockchain-based system that organises the storage of and access to sensitive healthcare data in a decentralised and encrypted manner. This gives doctors and patients more control over their data, increases compliance and significantly reduces the administrative burden[8].
My analysis
Blockchain technology is not yet mainstream in many areas, but it is developing rapidly. Companies that are shaping change today can secure decisive advantages by making processes more efficient, transparent and secure. Blockchain technology supports digital transformation by minimising sources of human error and enabling new types of collaboration. Transruption coaching stands for experience and practical relevance: we accompany you every step of the way - from strategic categorisation to technical integration and the implementation of blockchain technology in day-to-day business.
Ultimately, blockchain offers more than just a technical innovation. It changes the way we do business, create trust and exchange values securely. Those who start now will benefit from the experience of the pioneers and can make their business model sustainably future-proof.
Further links from the text above:
Haufe: Blockchain revolutionises business processes and business models[1]
HSG: Blockchain - the next big revolution in the banking sector[2]
Bosch: Blockchain explained simply[4]
Microsoft: The blockchain revolution - a technology that is changing the world[6]
Kriptomat: Real blockchain use cases[8]
Weissenberg Group: Application examples for blockchain technology[9]
PwC: Blockchain in the supply chain[10]
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