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0:00
Hello, my name is
Ausrine Silenskyte
from the University of Vaasa.
In this lecture,
we will discuss
about developing blockchain-based
business globally.
0:13
In this lecture, we'll try
to touch on four areas.
First, we will understand
what blockchain-based
business is.
Then we will have
a brief overview
about the business and
regulatory environment
for developing such business.
Afterwards, we'll
discuss key elements
of blockchain-based business.
Finally, we will end this
lecture with investigating
how blockchain-based business
strategically respond to
very complex, uncertain
and regulatory
incomplete environment.
When discussing the latter,
we will analyze
several case examples.
Without further ado,
let's get started.
0:50
Blockchain technology has
been known for many years.
In rough terms,
blockchain is a database
of a specific kind.
Recently, this
technology was applied
in a myriad of new ways,
which led to the emergence
of different
blockchain-based businesses.
Thus, we should start
from a brief discussion
on what falls under this
concept and what does not.
First, when we talk about
blockchain-based business,
we have in mind various
entrepreneurial efforts
that intend to utilize
public blockchain,
such as a Ethereum or NEAR,
for business development.
These are companies
that for example,
develop decentralized
apps, so-called apps,
or engage in decentralized
finance DeFi development,
or otherwise utilize
public blockchain
for various businesses.
Blockchain based business
could also be firms
for instance legal advisors
or marketing agencies
that primarily serve businesses
that build on
public blockchains.
This means that
blockchain-based business
does not consider
private blockchains
used within some
large corporations,
or consortium blockchains
used by several companies
in for example supply
chain management.
Instead, when we discussed
blockchain-based business,
we're discussing at
least at this point,
smaller firms that are
laden by opportunities
arising from the features
of the public blockchain,
such as decentralization,
removal of intermediaries,
and trust via 'code
is law' principle.
The blockchain based business
creates their value propositions
within an emerging crypto
economy and Web 3,
exploring alternatives to the
existing business models.
