Decentralized Business Models: Impact of blockchain technology on business model generation
Decentralized Business Models: Impact of blockchain technology on business model generation

Summary/Abstract: Even though blockchain technology, since its first presentation in the Bitcoin whitepaper, has received lots of attention from both individuals, or private and public international organizations, its development has not always been enthusiastically welcomed and often created more confusion than expected. Albeit currently almost everyone agrees that blockchain is (technology-wise) the great successor of the Internet, its tremendous potential is also highly challenging. Growing number of various constructs utilizing blockchain technology in a very innovative manner have emerged. However, they have also created a complex ecosystem with many initiatives being far away from the original blockchain proposition. As a result, it has become crucial to understand what blockchain technology has to offer, what kind of impact it could have on existing businesses, and whether blockchain allows new business models to be created. The aim of this paper is to discuss and evaluate both the blockchain’s potential, as well as its limitations and its implications for development and generation of business models.

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