Research

Designing an Enterprise Blockchain Business Model Canvas (EBBMC)

Project Overview

Verbal Piercing's project focuses on analysing and developing business models for enterprises utilising Web3 Layer-1 value-sensitive digital infrastructures. It proposes the creation of the Enterprise Blockchain Business Model Canvas (EBBMC), designed to support organisations in asset tokenisation and participation in digital value ecosystems. Through case studies and existing research, the project will offer tools and techniques for enterprises to integrate blockchain into their operations, fostering innovation and ensuring alignment with overall business strategies. The project aims to enhance blockchain adoption, governance, and collaboration within the ecosystem.

Abstract

As businesses increasingly adopt Web2 technologies to support the digital platformisation of processes, the next challenge lies in their transition to Web3 technologies for asset tokenisation and value ecosystem collaboration. This project will build on previous research and new case studies to create a methodology, tools, and techniques that help enterprises navigate this shift. By leveraging the Blockchain Business Model Canvas developed by the project, businesses will be able to conduct strategic design sprints to effectively incorporate Web3 technologies into their operations.

Background

Dr. Carsten Sørensen, a renowned researcher, has studied digitalisation and business model innovation since the 1990s, contributing to foundational work on digital platforms and inter-firm dynamics. His recent focus has shifted toward distributed ledger technologies (DLT), and he co-designed LSE’s first blockchain course in 2017. Carsten has guided strategic design sprints for students and executives, fostering innovation in blockchain and Web3 technologies. Thamim Ahmed, a physicist-turned-software engineer, specialises in emerging technologies, having built decentralized applications and collaborated with regulators and central banks on digital currencies and DeFi innovations.

Objectives

This project explores both theoretical and practical aspects of business models based on Web3 Layer-1 value-sensitive digital infrastructures. Building on the evolution of digital platforms, it proposes the development of the Enterprise Blockchain Business Model Canvas (EBBMC) framework, designed to support organisations in tokenising assets and engaging in digital value ecosystems. By conducting case studies and leveraging existing research, the project aims to provide tools and techniques to help enterprises integrate blockchain technology into their strategic operations, fostering innovative business models and enhancing stakeholder communication.

Expected Outcomes and Impact

The project is expected to raise awareness and understanding of blockchain business models, improve decision-making among enterprises, and foster innovative blockchain-based strategies. Enterprises, policymakers, and researchers will benefit from the Enterprise Blockchain Business Model Canvas (EBBMC) framework, which promotes efficiency, transparency, and good governance in blockchain initiatives. Success will be measured by the adoption of the EBBMC framework, the creation of new blockchain models, and improvements in governance and business processes among participating enterprises and policymakers.

Ecosystem Development

The focus is on helping enterprises transition from Web2 to Web3 by utilising blockchain for asset tokenisation and value ecosystem collaboration. The project aims to build through research, case studies, and design sprints, providing tools for businesses to innovate within blockchain ecosystems. By promoting efficiency, transparency, and governance, the framework seeks to enhance blockchain adoption, decision-making, and collaboration among enterprises, policymakers, and researchers.

Methodology & Implementation

A combination of research methods, design thinking, and collaboration with stakeholders will be used to develop the Enterprise Blockchain Business Model Canvas (EBBMC). Key activities include conducting research to identify essential components, developing the framework through iterative design, and validating it through real-world case studies. Additionally, the project will create training materials to help enterprises use the EBBMC and promote its adoption as a standard tool. These efforts will be managed using project management tools to ensure progress, outcomes, and quality control.

Conclusion

The project will ultimately create the Enterprise Blockchain Business Model Canvas (EBBMC), providing enterprises with a framework to navigate the transition from Web2 to Web3 technologies. Through a mix of research, case studies, and strategic design sprints, this initiative will equip organisations with the tools to tokenise assets and participate in digital value ecosystems. By fostering blockchain innovation and improving governance, the project aims to influence business practices across industries, enhancing decision-making, transparency, and collaboration within the blockchain ecosystem.

Progress
80
%

Project Members

Carsten Sorensen
Thamim Ahmed