Blockchain technology** is considered one of the most innovative developments of recent years. It helps companies to scrutinise and redesign traditional business models. Thanks to its decentralised structure, it enables greater transparency, security and efficiency in numerous industries. With transruptions coaching, we support companies in the practical integration and implementation of such technologies.
How blockchain technology is changing markets
Blockchain technology is leading to remarkable changes in various sectors. In finance, for example, where traditional intermediaries are being replaced by decentralised networks. In logistics, too, this technology ensures seamless tracking of goods flows and thus greater trust between all parties involved. In healthcare, on the other hand, blockchain enables secure storage and controlled access to patient data.
For example, a large logistics company is working with a blockchain-based solution that ensures transparency in the supply chain. This allows all partners, from production to the end customer, to view data in real time. This reduces delays and makes recalls more precise and cost-effective. In agriculture, sustainable businesses use blockchain systems to transparently document the origin and ecological quality of food for consumers. Blockchain-based smart contracts are also being used in the insurance industry to automatically and traceably fulfil contract terms.
BEST PRACTICE at the customer (name hidden due to NDA contract) The implementation of a blockchain platform in the logistics sector enabled real-time monitoring of freight routes. This minimised costly delays and planning errors. In addition, increased transparency significantly improved collaboration between all contractual partners.
Advantages through decentralisation and transparency
One of the pioneering features of blockchain technology is its decentralised nature. Unlike traditional databases, there is no central data administrator. All network members check transactions together. This makes manipulation more difficult. The transparency also promotes trust between participants.
Companies in the financial sector are using blockchain for the transparent processing of securities transactions, for example. One example is the reduction of intermediaries for loans through so-called Decentralised Finance (DeFi) platforms, which automate processes using smart contracts. Companies in the energy sector are also using the technology to efficiently organise peer-to-peer trading of electricity from renewable sources. These examples show how existing value chains can be made more flexible and optimised using blockchain technology.
BEST PRACTICE at the customer (name hidden due to NDA contract) An energy supply company introduced a blockchain platform that directly connects electricity producers and consumers. This created new business models for trading green electricity without traditional suppliers as middlemen.
Innovative business solutions with blockchain technology
Blockchain technology has a wide range of potential applications. In addition to the management of financial transactions, smart contracts are becoming increasingly important. These self-executing contracts automatically implement certain actions when predefined conditions are met.
For example, insurance companies manage claims more transparently and efficiently using blockchain-supported policies. This minimises fraudulent multiple claims. In the automotive industry, companies keep digital proof of ownership on the blockchain, which simplifies the purchase or sale of vehicles. Property companies are also using the potential to realise transfers without a notary and process transactions more quickly.
Blockchain technology also helps creative professionals to manage copyrights securely. Artists can register works digitally and organise licensing transparently. This increases fairness in remuneration and trust between creators and users.
BEST PRACTICE at the customer (name hidden due to NDA contract) A property company implemented smart contracts on the blockchain to automate property purchase contracts. This has greatly accelerated administrative processes and reduced sources of error, benefiting both customers and employees.
Practical tips for getting started
To get started, we recommend that companies familiarise themselves with the basics of blockchain technology and plan their first pilot projects. The focus should be on where transparency, security or process automation will bring the greatest benefits. The use of blockchain-as-a-service (BaaS) offerings makes it possible to outsource the technical infrastructure and focus on the business processes.
It is also helpful to seek dialogue with experienced project managers in the form of transruption coaching. This allows business challenges to be addressed individually and suitable solutions to be developed. Collaboration with partners from different sectors also often reveals new application potential.
Involving stakeholders such as customers, suppliers and regulators also promotes the acceptance of blockchain-based business models. The basic rule is to proceed step by step and with clear goals in order to achieve sustainable success.
My analysis
Blockchain technology opens up numerous opportunities to transform business models. Its decentralised and transparent nature supports trust and efficiency in many industries. Companies often report that professional support such as transruptions coaching gives them new impetus to successfully implement projects. The potential ranges from the supply chain and financial services to new forms of digital identities and copyright protection.
Despite the complexity of the technology, it is clear that those who identify practical fields of application and realise them step by step can benefit from competitive advantages. It is therefore worth actively monitoring the topic and keeping a close eye on new developments.
Further links from the text above:
Blockchain business models - Business Model Analyst
Influence of blockchain technology on business models - TU Clausthal
Blockchain business models - Blockchain Europe NRW
Blockchain application examples - MoreThanDigital
Blockchain: The new technology that creates trust - SAP Germany
Blockchain examples - Blockchain Agency
Smart contracts examples - EASY Software
Blockchain business ideas - For founders
Blockchain in Germany - LBBW
Blockchain application possibilities - Weissenberg Group
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