A simple guide to blockchain consortia
In this article series, we cover the aspects of how blockchain consortia are formed, their purpose, the concept of coopetition, and how businesses can leverage a consortium’s network effect to streamline business processes and reduce costs.
“So you’ve decided to join a blockchain consortium”
Businesses often cultivate new ecosystems to develop unique products and services, and in solving shared pain points. As such, they often discover that they need to act in concert with other like-minded organizations by joining a blockchain-enabled consortium.
In this article, we examine the concept of coopetition, and outline key strategic issues to consider when deciding to join an existing, or starting a new, blockchain consortium, geared to your business’ specific needs, including:
- The benefits of consortia
- Consortia types
- Leading practices for consortia
- Blockchain consortium management
Technical considerations in a blockchain consortia
Blockchain-enabled consortia are becoming increasingly popular among organizations that are looking to streamline their business processes and reduce operating costs by leveraging the network effects of blockchain.
In this article, we’ll take an in-depth look at the technical issues that executives should explore when considering joining an existing consortium, or starting a new one of their own, including:
- Blockchain is a tool, not a magic bullet
- Sharing is the key
- Resource and organizational structure challenges
- Data ownership
Governance considerations in a blockchain consortia
Businesses seeking to make the most of their blockchain investments and strategies are increasingly looking to the benefits provided by blockchain consortia.
In this article, we’ll provide insight into the key governance issues that businesses need to address when considering joining an existing consortium, or starting a new one of their own, including:
- Decision-making authority
- Funding and revenue sharing
- Legal structures and risk
- Identification and ownership of intellectual property