Business Model Innovation in the Digital Economy: Blockchain Based Collaborative Models

Abstract

The current paper focuses on blockchain technology as a novel actor shaping business models and leveraging another rising star of the global business, collaborative economy. The research aims to grasp the main intersection points between blockchain drivers and business model components. Therefore, to accomplish this objective, the paper identifies the main impact drivers of blockchain technology in relation to collaborative models as: cost reduction, risk reduction and disinter mediation. Secondly, we have turned our attention to the methods in which this new technology influences business model innovation. Furthermore, this paper presents the possible outcome scenarios taking into consideration four stages of business model innovation in relation to different degrees of blockchain adoption by organizations. The key findings of this study focus on the impact on value proposition, value creation, delivery and value capture, and the ways each scenario constitutes an opportunity or a threat to the focal firm