Three reasons why CEOs must 'get' Blockchain and fast
From a CEO strategic agenda perspective, why Blockchain?
Blockchain brings a set of powerful extensions to the Internet, much as the Web extensions developed by Tim Berners-Lee transformed the Internet in the early 90s, to make the Internet 10-100x more powerful! From a CEO perspective, so what?
Video: Three reasons why CEOs must 'get' Blockchain and fast
1) New Operating Models with Radically Lower Cost Structure
Blockchain technologies can allow new operating models with radical reductions in operating costs capable of eliminating 50-95% of operating costs (for example in Capital Markets such as Asset Management & Global Custody) with the opportunity for significant cost reduction (>50% operating costs) in a number of other industries such as Insurance, Retail Banking, Energy Trading, Social Media, Advertising, Supply Chain, Logistics, Health/ Life Sciences & Pharma.
If adopted by your key competitors or aggressive new entrants, your business (like Nokia) could see both your margins and revenues cave in causing your enterprise/ market value to fall rapidly to near zero.
2) Creation of New Asset Classes, Market Propositions and Services
Blockchain creates new revenue opportunities such as new Asset classes (that were too expensive or difficult to launch previously), new market propositions and services to support the 20 billion IoT devices expected by 2020.
3) Disruption is faster Today Than Ever BeforeThrough Blockchain, 'software is eating the world' faster than ever.
It used to take 10-20 years for new business models to disrupt market leaders (eg Kodak), now takes a much shorter period .. (4 to 5 years in the case of Nokia's decline, 2 years for WhatsApp growth to 200+ million users destroying mobile telco SMS income).
Blockchain disruption could be as fast, or even faster, across a number of markets (including Banking, Money Transmission, Trade Finance, Asset Management, Insurance, Energy Trading, Social Media, Advertising, Supply Chain, Logistics, Health, Pharma).
Video: Three reasons why CEOs must 'get' Blockchain and fast
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John Corr (CEO - Blockchain-X)
T: johnpcorr
At the frontier of technology and innovation
8 年Speed is essential. Trust enables speed. With Trust, in products based around the unique and emerging features in blockchain, I believe enterprise adoption of digital architecture will be accelerated. If not - expect to see more of the 'Kodak' phenomena. gospel.tech
Empowering ambitious people and organisations to realise their potential through RTT Therapy and BOOST Performance Coaching
8 年Very interesting article John. Most CEOs have widely embraced digital but blockchain is only just entering most companies digital thinking. There is an awful lot of vested interest in big organisations that will slow down block chain. It feels like it's the challengers, unencumbered by legacy, who will exploit the potential of blockchain