BLOCKCHAIN: How the implementation of blockchain is affected by, and affects, business models

Abstract: The world is becoming more and more digitalized, and technologies are emerging and being developed continuously. Some of these technologies are considered to have disruptive potential, whereby it is of importance that companies keep themselves updated with the ongoing changes. One technology with an ongoing hype is called “Blockchain”; however, it is not only believed to be an occasional hype but also to possibly be disruptive and to have great potential within most industries. Nevertheless, blockchain is a novel technology that still is immature and uncertain, and it is not yet clear how it will develop and affect companies. The purpose of this study is, therefore, to analyse how the implementation of blockchain is affected by business model environments, and how it, in turn, affects business model canvases. The research was conducted in collaboration with “Coboom”, a joint project with CGI Sweden AB, Stena AB, and Volvo Cars AB, based on two frameworks; the business model environment framework and the business model canvas. The first one investigating which external factors within the environment of the companies that affect the implementation of blockchain in the different companies and industries, and the latter which factors, and how these factors, will be impacted by the implementation of the technology. Since the area is novel and previous literature lacks information concerning it, a qualitative study with interviews was used in order to gather information for the study. The findings indicate that the implementation of blockchain will be affected by regulatory trends, technology trends, and industry forces, while it, in turn, is expected to primarily affect the key partners and key activities seen from the company-side, and the customer segments and value propositions from the customer-side. Blockchain is however still under development, making it an interesting area for future research.