Unveiling blockchain as a strategic resource: A hunt for long-tailed competitive advantage on the razor's edge of tech innovation

Abstract

Purpose

This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.

Design/methodology/approach

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

Findings

This conceptual paper concentrates on the strategic use of blockchain as a way of organizations gaining ongoing competitive advantages. Moving deeper into the fourth industrial revolution, the organizational advantages of blockchain implementation are the secure, verifiable, peer-to-peer transparency of agreement or communication mechanisms like smart contracts, since they can enhance organizational efficiency and therefore competitive performance. However, blockchain currently remains in a nascent phase on a practical use level, meaning organizations can now strategically prepare to adopt its capabilities in future. This is done by teams educating themselves about blockchain, and by defining problems that the technology could solve.

Originality/value

The briefing saves busy executives, strategists and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Citation

(2021), "Unveiling blockchain as a strategic resource: A hunt for long-tailed competitive advantage on the razor's edge of tech innovation", Strategic Direction, Vol. 37 No. 6, pp. 31-33. https://doi.org/10.1108/SD-04-2021-0034