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Category: Industry
2018-11-16 09:46 AM
Ecosystems as a new way to reinforce business processes online

Business strategist James Moore was the first to write about ecosystems in business. He mentioned them in his article for Harward Business Review in 1993. The author then defined the term as dynamically developing communities that interact and compete with the aim to create new value both for their customers and for themselves.

Companies that form business ecosystems are known all over the world. They are Apple, Google, Alibaba Group, Airbnb, Uber, General Electric. They have one thing in common. They have become giants thanks to the business model based on cooperation and competition between many players in frames of their interaction. November 11, 2017, Alibaba earned $1.000.000.000 for two minutes on the Single's Day (the holiday opposite to St. Valentine's Day in the US) thanks to the well-honed interaction of a whole pool of companies and services.

Analysts suggest that the number of companies to enter one of the ecosystems will increase almost threefold next 3 year, i.e. from 13 to 38%. The market has become such a place where no one can run the business separately and remain a leader. One should look for the sources of growth outside. One should pool efforts with other players and invent new ways of delivering value to the customer.

Technologies to Assist

Ecosystem participants prefer a digital business model and try to use digitized processes. Players interact with each other using a single for the community platform. It becomes a trust operating environment for collaboration. A set of IoT, API, Big Data technologies, analytics, artificial intelligence, blockchain, distributed ledgers make the basis for the development.

The b2b market players pay more attention to the use of blockchain technology to promote the interaction optimization of the companies. The analyst from Gartner in the article on the key trends in the world of digital transformation states that "the interest to this amazing tool" has quadrupled for the past year.

The technology has become the sensation, but in fact, it has just started to develop. Only 20% of the world's financial institutions are going to use blockchain by 2020. At the same time, the impact on business may reach as much as $ 3.1 trillion by 2030.

Today, there are more than 100 blockchain platforms on the world market. But there is no one most suitable for working within the ecosystem. In the meantime, the players of the corporate blockchain market are engaged in testing technologies and platforms for various industries and cases accumulating knowledge and experience. Such companies as Maersk, Walmart and FedEx announced testing technologies to solve local tasks.

The operator of the ecosystems is a new role and business model of the future

The key point in the relationship between the participants of decentralized digital platforms based on blockchain is the philosophy of equality between the participants of ecosystems. Usually, each player independently keeps the event records. Such a mechanism generates distrust, which does not promote trust, reduces the quality of data, and slows down the execution of business processes. With the help of the algorithm, the blockchain promotes trust through the use of a public system of proven facts.

At the same time, the philosophy of equality does not allow one of the ecosystem participants to take on the role of its operator. Therefore, in order to maintain and develop decentralized processes, there will appear companies that will take on this role. For example, they will search for and bring new members to the community as well as manage access rights. However, the technological development of the ecosystem through innovative changes in business processes will be their key goal.

What skills should an ideal operator company have? Expertise in the field of technology, understanding of the principles of digital business, data management, API economy as well as knowledge and compliance with regulatory requirements for paperless processes, use, and exchange of customer data. Of course, the players of the new market, first of all, will have to seek the trust of other participants of the ecosystem and maintain neutrality with respect to any of them.

The technology has become the sensation, but in fact, it has just started to develop. Only 20% of the world's financial institutions are going to use blockchain by 2020. At the same time, the impact on business may reach as much as $ 3.1 trillion by 2030.

Today, there are more than 100 blockchain platforms on the world market. But there is no one most suitable for working within the ecosystem. In the meantime, the players of the corporate blockchain market are engaged in testing technologies and platforms for various industries and cases accumulating knowledge and experience. Such companies as Maersk, Walmart and FedEx announced testing technologies to solve local tasks.

The operator of the ecosystems is a new role and business model of the future

The key point in the relationship between the participants of decentralized digital platforms based on blockchain is the philosophy of equality between the participants of ecosystems. Usually, each player independently keeps the event records. Such a mechanism generates distrust, which does not promote trust, reduces the quality of data, and slows down the execution of business processes. With the help of the algorithm, the blockchain promotes trust through the use of a public system of proven facts.

At the same time, the philosophy of equality does not allow one of the ecosystem participants to take on the role of its operator. Therefore, in order to maintain and develop decentralized processes, there will appear companies that will take on this role. For example, they will search for and bring new members to the community as well as manage access rights. However, the technological development of the ecosystem through innovative changes in business processes will be their key goal.

What skills should an ideal operator company have? Expertise in the field of technology, understanding of the principles of digital business, data management, API economy as well as knowledge and compliance with regulatory requirements for paperless processes, use, and exchange of customer data. Of course, the players of the new market, first of all, will have to seek the trust of other participants of the ecosystem and maintain neutrality with respect to any of them.

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