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Contribution Details
| Type | Studies and Reports Commissionned |
| Scope | Contributions to practice |
| Title | Hype or help: The real benefits of blockchain |
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| Language |
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| Date | 2023 |
| Abstract Text | Blockchain is much more than bitcoins, and it offers benefits for many industries. Since its introduction in 2009, the technology has been continuously developed. Still, discussions about blockchain often revolve around cryptocurrencies and, from 2021, also around so-called non-fungible tokens (NFT). The confusion surrounding blockchain and its potential is great. This study drills down into blockchain‘s benefits in the real economy. Opportunities and challenges are illustrated using three concrete examples: i) Self-sovereign identities to securely identify people, organizations, and objects in the digital space, ii) Product tracking to increase product safety and transparency along supply chains, iii) Consolidation of sensitive health data to improve the quality of diagnosis and therapy without compromising data security. Ultimately, blockchain offers a technical basis to securely digitize and automate business processes, collaborate efficiently, and create more robust digital infrastructures. Once achieved, new business areas can open up. Leaders must detach themselves from hype and sweeping criticism to realize this potential. This study aims to be a starting point to do so. |
| Free access at | Official URL |
| Official URL | https://www.gdi.ch/en/publications/studies |
| Other Identification Number | ISBN: 978-3-7184-7143-0 |
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