Bite-size Case Study

SUPER HOW?: developing legitimacy in crypto

Published on May 31, 2023 Originally recorded 2023   4 min
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SUPER HOW? SUPER HOW? has grown to become Lithuania's leading private research and development lab focusing on DARK distributed ledger and blockchain, Artificial Intelligence, extended reality and quantum computing technologies. Established in 2014, SUPER HOW? has already achieved many things that strongly signaled its intentions to be a trusted business within crypto and traditional markets. For example, internationally, SUPER HOW? actively participated when establishing INATBA, International Association of Trusted Blockchain Applications, which unites developers and users of the technology in Europe, North America, Africa, and Asia, aiming to create a dialogue with policymakers. In this way, the firm signaled that as an innovating company, they are also willing to bridge perspectives and co-create new business and regulatory environment that protects various industry participants. Locally, in their country of establishment, SUPER HOW? team of blockchain professionals contributed to the development of Lithuania central banks, LB coin, the world's first blockchain-based digital collector coin. They have also worked on many other projects together with the Central Bank. This way, eliminating false perceptions that blockchain-based business is only about the illegal crypto operations. The project SUPER HOW? Art has intended to bridge virtual and physical elements. SUPER HOW? collaborated with several worldwide known artists to bring their physical art to the digital world. This helped addressing frequent critique directed to NFT, non-fungible tokens related projects. In 2022 SUPER HOW? was awarded as authentic innovator of the year in Lithuania. Finally, the management team of SUPER HOW? are involved in various educational events, conferences discussing blockchain-based business practices, values, and the industry developments. On the social media, the firm is very vocal about differences between the good and bad practices, about the volatility of the industry and other aspects of the blockchain-based businesses that are typically critiqued. All these above-mentioned actions helped SUPER HOW? to legitimize through reputation and strategically address formal institutional voids in the country and region, and informal institutional voids in the industry. In other words, because SUPER HOW? operates in the blockchain-based business, in which there is lack of shared industry practices, they work on promoting good practices through communication or by working on building institutions that would promote good practices among the industry participants. Because the region and the country have a lack of established regulations for the blockchain-based business, SUPER HOW? intensively conducts industry-related experiments together with trustworthy institutions, such as the National Bank in the country, encouraging other industry participants to search for collaborative solutions between centralized and decentralized connectivity mindset. Collaboration with well-known artists, influencers, and alike helped maintaining good reputation and strengthen their strategic positioning while the needed practices and institutions are being built. Now, let's turn to the second example. The firms that adopt the tactics accepting the power of institutions as their strategic response to the institutional voids in the blockchain-based industry.