Creating Value from Web3: Four Approaches to Adopting Blockchain

MIT CISR

Gayan Benedict reads MIT CISR's Match 2023 research briefing, which he co-authored with Ina Sebastian and Stephanie Woerner. See the text version and related content at https://cisr.mit.edu/publication/2023_0301_AdoptingBlockchain_BenedictSebastianWoerner. Abstract: Compelling use cases for technologies enabling Web3 are accumulating. In a 2022 MIT CISR survey, companies’ effectiveness at deploying new technologies such as blockchain was significantly correlated with growth and profitability. Yet only thirteen percent of executives described their companies as very effective at doing so. Thirty-six percent described them as only slightly or not at all effective at it. Digital leaders are faced with the question of how to build the capabilities needed to participate in value creation from Web3 while managing the risks of participation. In this briefing, we describe four approaches to adopting blockchain and illustrate them with industry examples.