It is easy to understand the reason why the first
application of blockchain has been in the financial industry, the one closer to
cryptocurrency, but the interest on this technology nowadays has extended to
other industries and to venture capital, which registered a total investment of
$1.1 billion in this fascinating technology, with a trend that increased during
the following years
The level of digitalization across
The digital era entered into force decades ago, and in the
last years it was the object of a relevant evolution: as the customers and the new generations are more digitalized, the
companies are as well becoming digitalized or at least are trying to improve
the digital aspects of their architecture.
Still some industries are more digitalized than others and
the last research made by the Harvard Business Review emphasized that the
companies belonging to B2C sectors are more digitalized than
the B2B ones, with media,
telecom and financial services being the most disruptive ones. According to our
research, the retail sector presents a good percentage of digitalization, at
least in comparison with the healthcare sector that is at this moment one of the latest. The more powerful impact
digitalization brought is related to the digitally empowered workforce and the
creation of new digital occupations (chief data officer, digital account
manager, service design thinker, etc).
The digitalization started in the 1960s and the first
sectors to apply it in the last decades have been the retail sector and the
financial sector through the implementation of IoT and smart devices for a
better customer relationship. We
can assume considering the trends and the use of smart devices by the new
generations, that the digitalization of companies would continue to progress.
The digitalization had impacts on the different business models creating the
evolution or the rise of new
ones among industries: peer-to-peer
networks, freemium, delivering outcomes (mainly driven by the Internet
of Things), crowdfunding/crowdsourcing, as a service, ecommerce/marketplaces
and personalization, among others.
In the European Union, with the EU digital single market, whose purpose is to enhance Europe’s
position as the world leader in the digital economy, we can assume that the
digitalization of EU companies would only increase in the following years.
Despite the fact that the companies’ digitalization
indicator can be considered an average one, if we take into consideration the
external company’s environment and its relationship with the customers
(e-sales, e-desk support, etc.)
there are still relevant gaps in the digitalization of the companies from the inside.
The following graph emphasizes the digital initiatives that have been recorded in 2016 research leaded by the World Economic
Forum across six industries, that were leveraging digital technologies to deliver added value for society and
Digital Transformation of Industries1
We can notice that the retail sector is one of the more
impacted by the digital revolution, especially if we consider the internet and
mobile retailing, which are being
forecasted to reach the 50% of the
whole amount of internet retail sales in 2019. The top two leading
countries, China and the US, are estimated to have the 60% of the growth in
internet retailing through 2022. (Source: Euromonitor).
The figure below highlights the methodology, which was used
for collecting information, conducting the analysis and fulfill the objectives
of the White Paper.
The 24 individuals, selected for Interviews were chosen
according to the following criteria:
Level of expertise: Interviewees have proven record
and expertise in healthcare or retail;
Role: Interviewees hold strategic positions in
organisations related to healthcare and retail (IT Manager, Transformation
Manager, Digital Development Manager, Chief Information Officer,
Multiculturalism: interviewees come from various
countries and are representative of the rise of the blockchain technology
at a global scale;
The questions asked during the interviews were tailored to
the specific industry and the level of implementation of the blockchain (use of
the technology; thinking of adopting it; not knowing about it, etc.).
The methodology used for the Interviews and Research is
composed of 3 phases outlined in the diagram below:
Phase 1: During this phase, two
different actions were implemented:
interview candidates based on their domain and blockchain awareness, preparing
questions, setting dates and times for interviews.
of information available on Internet related to the topic and to the user
Phase 2: During this phase, the Team
focused on conducting interviews and gathering existing user cases previously
Phase 3: During this phase, the Team
focused on interpreting and analyzing the responses and the information
obtained during the previous phases. These activities led to drafting and
finalizing the White Paper.
Source: World Economic Forum, Digital Transformation of
Industries, January 2016