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Harvard Case - IBM: Building with Blockchain

"IBM: Building with Blockchain" Harvard business case study is written by B. Tom Hunsaker. It deals with the challenges in the field of Entrepreneurship. The case study is 6 page(s) long and it was first published on : Jan 1, 2018

At Fern Fort University, we recommend IBM adopt a multi-pronged strategy to leverage blockchain technology for business growth and innovation. This strategy should focus on:

  • Building a robust ecosystem: IBM should actively engage with startups, entrepreneurs, and venture capitalists to foster a thriving blockchain ecosystem.
  • Developing and promoting innovative solutions: IBM should prioritize developing and marketing blockchain-based solutions that address real-world challenges across various industries.
  • Investing in research and development: IBM should continue to invest in research and development to stay at the forefront of blockchain technology and its applications.

2. Background

The case study examines IBM?s efforts to embrace blockchain technology, a disruptive innovation with the potential to revolutionize various industries. IBM recognizes the transformative power of blockchain and aims to position itself as a leader in this emerging field.

The main protagonists are:

  • IBM: A global technology giant seeking to leverage blockchain for business growth and innovation.
  • Startups: Emerging companies developing blockchain-based solutions and seeking partnerships with established players like IBM.
  • Venture Capitalists: Investors seeking to capitalize on the potential of blockchain technology by funding promising startups.

3. Analysis of the Case Study

This case study can be analyzed through the lens of disruptive innovation, strategic partnerships, and ecosystem development.

Disruptive Innovation: Blockchain technology represents a disruptive innovation with the potential to disrupt traditional business models and industries. IBM recognizes this potential and seeks to leverage it for its own growth.

Strategic Partnerships: IBM?s strategy of partnering with startups and venture capitalists is a crucial element of its blockchain strategy. These partnerships allow IBM to access cutting-edge technologies, innovative ideas, and a network of potential customers.

Ecosystem Development: IBM?s efforts to build a thriving blockchain ecosystem are essential for its long-term success. By fostering a collaborative environment, IBM can attract talent, accelerate innovation, and drive adoption of blockchain technology.

4. Recommendations

1. Building a Robust Ecosystem:

  • Establish an IBM Blockchain Incubator: Create an incubator program to support blockchain startups, providing access to resources, mentorship, and funding opportunities. This will attract promising entrepreneurs and foster innovation within the IBM ecosystem.
  • Launch a Blockchain Venture Fund: Establish a venture fund dedicated to investing in blockchain startups, providing financial support and strategic guidance. This will allow IBM to gain early access to promising technologies and potential acquisitions.
  • Host Blockchain Hackathons and Events: Organize hackathons and industry events to connect with developers, entrepreneurs, and investors, fostering collaboration and knowledge sharing within the blockchain community.

2. Developing and Promoting Innovative Solutions:

  • Focus on Industry-Specific Solutions: Develop blockchain-based solutions tailored to specific industries such as supply chain management, healthcare, finance, and government. This will demonstrate the practical value of blockchain and attract customers with specific needs.
  • Leverage IBM?s Existing Strengths: Integrate blockchain technology with IBM?s existing products and services, such as cloud computing, data analytics, and security solutions. This will provide a more comprehensive and integrated offering to customers.
  • Develop a Strong Marketing Strategy: Promote IBM?s blockchain solutions through targeted marketing campaigns, thought leadership content, and industry partnerships. This will raise awareness and build trust in IBM?s capabilities in this emerging field.

3. Investing in Research and Development:

  • Invest in Fundamental Blockchain Research: Continue to invest in research and development to advance blockchain technology, explore new applications, and stay ahead of the curve.
  • Collaborate with Academic Institutions: Partner with leading universities and research institutions to conduct joint research projects and develop talent in the field of blockchain technology.
  • Foster Open-Source Development: Encourage open-source development of blockchain technologies, contributing to the community and fostering innovation through collaboration.

5. Basis of Recommendations

These recommendations are based on the following considerations:

  • Core Competencies and Consistency with Mission: IBM?s core competencies in technology, innovation, and global reach align well with the development and adoption of blockchain technology. These recommendations support IBM?s mission to provide innovative solutions for its clients.
  • External Customers and Internal Clients: These recommendations address the needs of both external customers seeking blockchain solutions and internal clients within IBM who are developing and deploying these solutions.
  • Competitors: IBM?s competitors are also actively exploring blockchain technology. These recommendations aim to position IBM as a leader in this field by fostering innovation, building partnerships, and developing a strong market presence.
  • Attractiveness: The recommendations are expected to generate long-term value for IBM through increased revenue, market share, and brand recognition. The investment in blockchain technology is aligned with the company?s strategic goals and is expected to yield a positive return on investment.

6. Conclusion

By adopting a proactive and strategic approach to blockchain technology, IBM can position itself as a leader in this emerging field, driving innovation, creating value for its customers, and securing its future in a rapidly evolving technological landscape.

7. Discussion

Alternatives:

  • Limited Engagement: IBM could choose to limit its involvement in blockchain technology, focusing on its existing core businesses. This approach carries the risk of missing out on the potential of this disruptive technology and losing market share to competitors.
  • Acquisition-Based Strategy: IBM could focus solely on acquiring promising blockchain startups. This approach could be costly and may not provide the same level of control and integration as building an internal ecosystem.

Risks and Key Assumptions:

  • Regulatory Uncertainty: The regulatory landscape for blockchain technology is still evolving, which could create challenges for adoption and implementation.
  • Security Concerns: Blockchain technology is still relatively new, and concerns about security and privacy remain. IBM needs to address these concerns to build trust and confidence among users.
  • Scalability: Scaling blockchain technology to handle large volumes of transactions and data is a significant challenge. IBM needs to invest in research and development to ensure its solutions are scalable and efficient.

8. Next Steps

  • Establish an IBM Blockchain Center of Excellence: Within 6 months, establish a dedicated team to oversee the implementation of the recommended strategy.
  • Launch the IBM Blockchain Incubator: Within 12 months, launch the incubator program and begin accepting applications from blockchain startups.
  • Develop and Launch Industry-Specific Blockchain Solutions: Within 18 months, develop and launch blockchain solutions tailored to specific industries, focusing on supply chain management, healthcare, and finance.
  • Monitor and Evaluate Progress: Continuously monitor the progress of the blockchain strategy and make adjustments as needed based on market trends, competitive landscape, and customer feedback.

By taking these steps, IBM can successfully leverage blockchain technology to drive business growth, innovation, and long-term success.

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Case Description

IBM needed a win. Facing flattening sales and increasing analyst concerns, the century-old giant that had reinvented itself so often before was in search of market game-changers. The company believed they found such an opportunity in 2014 when employee Jerry Cuomo and other IBM technologists dug deeply into the secure and decentralized ledger that powered cryptocurrency Bitcoin.2 Similar to open-source software, IBM saw widespread potential for blockchain technology outside of the currency it powered. But seeing a technology's promise is different from monetizing it at scale. How could IBM distinguish blockchain technology from the cryptocurrency for which it was known and attract large clients to adopt IBM's approach to the emerging technology? If successful, what could be next for IBM blockchain?

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