Strategic Implications of Blockchain.pdf - Brigham Young...

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Brigham Young University BYU ScholarsArchive Undergraduate Honors Theses 2018-04-16 Strategic Implications of Blockchain William R. Adams BYU Marriott School Follow this and additional works at: Part of the Corporate Finance Commons , Data Storage Systems Commons , Digital Communications and Networking Commons , and the E-Commerce Commons This Honors Thesis is brought to you for free and open access by BYU ScholarsArchive. It has been accepted for inclusion in Undergraduate Honors Theses by an authorized administrator of BYU ScholarsArchive. For more information, please contact [email protected], [email protected] . BYU ScholarsArchive Citation Adams, William R., "Strategic Implications of Blockchain" (2018). Undergraduate Honors Theses . 19.
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i Honors Thesis STRATEGIC IMPLICATIONS OF BLOCKCHAIN by William Ramsey Adams Submitted to Brigham Young University in partial fulfillment of graduation requirements for University Honors Marriott School of Business, Strategic Management Department Brigham Young University April 2018 Advisor: James Oldroyd Honors Coordinator: Mark Hansen
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ii ABSTRACT STRATEGIC IMPLICATIONS OF BLOCKCHAIN William Ramsey Adams Marriott School of Business, Strategic Management Department Bachelor of Science This thesis introduces blockchain, the underlying technology of cryptocurrencies such as Bitcoin, and discusses how best to conceptualize it relative to other technologies. Following an explanation of the fundamentals of blockchain, also known as the distributed ledger, I identify the characteristics of the technology. Building upon blockchain’s inherent strengths and limitations, I explore potential business applications of blockchain. Finally, I recommend that leaders continue to track the development and adoption of blockchain technology, even if they decide that implementing it does not align with their organization’s strategy at present.
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iii ACKNOWLEDGEMENTS I wish to thank the many people who have helped make this project a reality: my parents, siblings, and friends who helped me refine my topic and who read through multiple drafts; my professors and committee, Jim Oldroyd, Mark Hansen, David Bryce, and Marianna Richardson for encouraging me and guiding me through the research and learning process; Ethan Heilman at Commonwealth Crypto, Aticus Peterson at Rose Park Advisors, and the team at Medici Ventures, especially Jonathan Johnson, Steve Hopkins, Tron Black, and Rob Christensen for their insightful interviews; Annabelle Page for facilitating the interviews; McKinley Stauffer Haas for filming the interviews; and Kizzy Kalu and the staff of the Marriott Student Review for bringing the interviews and research to life. Finally, thank you to my wife, Danielle, who’s been with me every step of the way, listened patiently as I’ve fumbled with my words, and helped polish my ideas.
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iv TABLE OF CONTENTS Title ……………………………………………………………………………………………………………….. i
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