Blockchains technology change how we organize economies. But how can businesses best prepare for the emerging future with blockchain?
This calls for a decentralized mindset that will allow businesses to co-create value in networks and ecosystems. With a decentralized mindset, businesses can better leverage the technology and shift away from traditional business thinking and conventional principles of inventing, producing, packaging, and shipping products and services.
Blockchain is much more than a technology for cryptocurrencies, and it is already widely used by businesses for verification, notarization, and tracking. In this ITU ESPRESSO talk, ITU Professor and Head of the European Blockchain Center, Roman Beck explains why the real business of blockchain is only beginning to take form and point to what business leaders may gain in the long term from rejecting traditional business thinking.
At its core, blockchain as a digital ledger and database is about making decentralized economic systems work and minimizing the role of central actors. In this light, business leaders and companies may leverage the technology more if they learn to redefine entities, actors, and interactions, as their business boundaries increasingly fade and interweave. Tune in for a discussion about the relevant steps for businesses to take and the role of the decentralized mindset in the blockchain space.
Roman Beck is a Full Professor within the BusinessIT department at IT University of Copenhagen. He is the Lead Researcher and Head of the European Blockchain Center and teaches on the Master in IT Management program.
Roman Beck is among the top 5% of all German professors in business administration. As Blockchain economist, his research focuses on the role of changing nature of work due to Blockchain with a focus on governance and value creation in decentralised systems. He is interested in institutional logics of organisations, organisational mindfulness, and awareness.