Organizational Readiness/Maturity Considerations for Blockchain Adoption

Abstract

Digital transformation involves new concepts, radical innovation, and radical organizational change across multiple organizational dimensions. Blockchains can be considered a form of digital transformation for organizations. An aspect of the radical nature of blockchains flows from the capabilities it can provide for trustworthy transactions between organizations. This creates opportunities for new business models by disintermediation of some parties to traditional transaction flows in the same industry or supply chain. Multiple parties have to agree to adopt the new style of transactions. Scorecards and metrics for multiparty technology adoption have additional scope that metrics within a single organization do not. Organizational readiness and maturity metrics for effectively utilizing blockchains have to address the broad range of business considerations that management should consider when evaluating opportunities for digital transformation via blockchain.