Blockchain in Development, Part II : How It Can Impact Emerging Markets
Blockchain is an innovative new technology with the power to disrupt existing economic and business models, as discussed in EMCompass note 40. Blockchain also has enormous potential for emerging markets. These nations appear poised for a more rapid...
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| Format: | Brief |
| Language: | English |
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International Finance Corporation, Washington, DC
2018
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| Online Access: | http://documents.worldbank.org/curated/en/649111502949149231/Blockchain-in-development-part-II-how-it-can-impact-emerging-markets http://hdl.handle.net/10986/30367 |
| Summary: | Blockchain is an innovative new
technology with the power to disrupt existing economic and
business models, as discussed in EMCompass note 40.
Blockchain also has enormous potential for emerging markets.
These nations appear poised for a more rapid adoption of
blockchain, though a framework is needed to assess how the
technology can be deployed and which applications and use
cases are likely to be seen in the near future. While the
potential of blockchain is great, the technology is still at
an early stage of development and will need to overcome
potential setbacks - technical, regulatory, and
organizational - before it becomes mainstream. In such a
context of uncertainty, companies in emerging markets can
neither afford to wait until the outcome is evident nor
expose their existing business models to overly risky
wholescale blockchain initiatives. Instead, they will need
to adopt an experimental approach that allows them to
develop options and thereby learn in the process, inform
their strategies, and improve their value propositions. |
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