Understanding the mechanisms how to raise a new business in a platform economy is becoming evermore important in a digital world. Blockchain is becoming an important enabler when it comes to match the requirements of different platform participants.
As acknowledgeable person and transformation architect I try always to find the deeper meaning of new trends specially when they tend to have the power to disrupt existing markets.
My main conclusions for a successful platform participant:
- Take a conscious decision about where you want your business to be promoted in the platform business - which role do you want to play on a particular platform?
- Try to squeeze as much data as possible from any single action and transaction you are performing on the platform
- Utilize data to gain important insights and improve heroically your existing product / service / experience - utilize the same data to expand the experience for your customer by responding to unmeet needs
- Achieve scalability by accelerating the way for new services and experiences design
Not more than that are mainly my recommendations when my clients are approaching me for a business model transformation. Over the last months I collected some insightful research and reading sources related to platform economy, which I found quite useful:
As an introductory reading and information source, I found https://www.applicoinc.com/ quite helpful. The authors provide some important explanations on the conversion of linear and traditional supply chains into modern and digital platform business along with interesting case studies as well as an own index portraying the market cap of platform business companies.
A profound survey with important conclusions regarding the conversion of businesses to sustain in a platform economy: https://www.thecge.net/app/uploads/2016/01/PDF-WEB-Platform-Survey_01_12.pdf
Another primer on digital eco systems often referred to nowadays in the context of platform business: https://www.bcg.com/publications/2015/borges-map-navigating-world-digital-disruption.asp
Interesting and helpful working aids to ideate and design new business models targeting platform economies: https://www.platformdesigntoolkit.com
Finally some interesting examples from different industries:
Data monetization
https://btcmanager.com/nokia-forays-into-crypto-partners-with-blockchain-based-data-sharing-startup-streamr/
News & Information Provision
https://cointelegraph.com/news/fixing-the-news-blockchain-powered-solutions-for-media-in-crisis
Photo by Franki Chamaki on Unsplash