Blockchain-Enabled Open Business Models: New Means to Shared Value Capturing?
|Author:||Tech, R., Kahlert, J., & Schmeiss, J.|
|Published in:||T. Redlich, M. Moritz & J.P. Wulfsberg (Eds.), Co-Creation: Reshaping Business and Society in the Era of Bottom-up Economics (pp. 63-76). Berlin: Springer.|
|Type:||Book contributions and chapters|
A key success factor for open business models (OBM) is having strict governance mechanisms to execute value creation and value capture mechanisms. While governance mechanisms on the value creation side have been studied at length, little is known about how to manage and govern value capture mechanisms. Our research assumes that, first, transaction costs are high due to a complex and dynamic collaborative network. Second, entry barriers for participating in OBMs are often high and regulated strictly by specific parameters. Third, it is often challenging to incentivize and compensate participants in a quick and transparent way, which may lead to a lack of motivation for both internal and external partners. We discuss the use of blockchain technologies to overcome these challenges. Our theoretical discussions are supported by three practical cases from the crypto- and blockchain-world.