There must be a clear business case and target ROI: Organizations must identify a rationale for investment that reflects their market position and which is supported at board level and by employees, without fear of cannibalization.
Companies should pragmatically consider their power to shape ecosystems, establish standards, and address regulatory hurdles, all of which will inform their strategic approach. Blockchain’s value comes from its network effects, so a majority of stakeholders must be aligned.
There must be a governance agreement covering participation, ownership, maintenance, compliance, and data standards. Finance arrangements must be agreed in advance so that sufficient funding through to commercial launch is guaranteed.
# See also