Blockchain: Dispelling Myths and
Assessing its Strategic Business Value
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Blockchain technology, also known as distributed ledger technology, has the potential to change organizations, industries, and societies. Its core innovation lies in the ability to validate, record and distribute transactions in an immutable, encrypted database without the need for authentication by third-party intermediaries.
The strategic value of investing in blockchain technology varies across different industry sectors. In addition, there are at least six categories of blockchain use cases that serve the two fundamental functions of the technology—storage of static information and registry of tradable information.
Using an appropriate blockchain architecture, incumbent firms can harness the power of blockchain to optimize network openness and scalability. McKinsey’s article, "Blockchain beyond the hype: What is the strategic business value?" helps companies determine their investment in blockchain by focusing on specific use cases and their market position. xLab will address blockchain and evaluate the strategic value of blockchain technology for your company at its next Quarterly Roundtable on June 5. More details are below.
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xLab Quarterly Roundtable Meetings
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With the increasing penetration of digital technology into every aspect of our daily lives, many firms are actively exploring ways to leverage the potential power of personal data to provide timely, relevant and meaningful products and services to customers. At the same time, with the passing of the European Union's General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA), firms must learn how to manage personal data in such a way that respects customers' privacy rights.
For more details and to register, visit our event page.
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Friday, June 5
Mark Your Calendar!
Creating Economic and Enterprise Value through Blockchain
Nitin Manoharan, director of global head enterprise architecture & technology innovation at Philip Morris International, will discuss blockchain and its enormous potential to unlock economic and enterprise value, and address the uncertainties and challenges that remain with its application.
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Digital Futures 2019 Conference Session Highlight
Professor Youngjin Yoo, Faculty Director of xLab
at Case Western Reserve University
The opening keynote of the 2019 Digital Futures Conference was delivered by Professor Youngjin Yoo, PhD, Elizabeth M. and William C. Treuhaft Professorship in Entrepreneurship, Professor of Design & Innovation, and faculty director of xLab at Case Western Reserve University. Yoo presented his nine-step “Digital First” Framework which is designed to guide traditional legacy companies through the digital transformation process — a process of integrating new digital technologies such as AI, blockchain and IoT into a company’s value creation process. Digital transformation is not just a technological endeavor. It cannot be done by a single department or a dedicated unit. Rather, it involves deliberate and strategic involvements of many different internal and external stakeholders. It demands new forms of partnership, new technological infrastructures, new processes of innovations and different ways of thinking about the value-creation process. Therefore, it is vital for companies to analyze their own resources, structures, progress and strategy in order to remain relevant in the coming decades. After the nine-step assessment and examining these key factors, leadership can then plan for future steps to ensure a smooth transition to the fast approaching digital economy.
Watch highlights of Yoo's presentation. |
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SAVE THE DATE!
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Weatherhead Executive Education
digital innovation offerings
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xLab offers Digital First Deep Dive, a custom program to jump-start the Digital First Framework initiative at your organization based on your unique needs and strategy. Learn more by contacting Shirley Reynolds, director of xLab operations at sar139@case.edu or 216.368.0456.
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Learn More
xLab is pleased to provide this newsletter and continue the dialogue on digital transformation. To learn more about xLab's programs and membership, visit our website. |
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