Business models based on IoT, AI and blockchain

Abstract: Every time the development of technology enters a new epoch, big changes inthe business and society will follow. Especially for the entrepreneurs, it signifies both opportunities and challenges at the same time. In the next decade, IoT, AI and blockchain will be the main driving forces in the upcoming technological revolution and demonstrate great synergic potential. There is an old saying, “In a strong wind even turkeys can fly”. The company who can seize this chance may become to the next GAFAs (Google, Amazon, Facebook and Apple); whereas those who completely ignores it may be rolled out of the marketeventually. Business model canvas is a very popular method for startups to align the resources and formulate the strategy, which is also the framework used in our research. The main target of this thesis is to demonstrate a thinking method to converge these new technologies in the business models and evaluate the most significant elements in the business planning stage. It could help the future startups to take advantages of the opportunities and overcome the challengesin the new business environment.