xiv  Contents

Strategy formulation  221

Setup vision and mission for IOSpeed  221

Understand the external environment and our position  221

Understand the internal environment and our position  222

Articulate long-term objectives and goals  223

Prospective solutions  223

Advantages of the third-party NFT platform  224

Disadvantages of the third-party NFT platform  225

Recommendations  225

Architecture diagram  226

Advantages of the IOSpeed-owned NFT platform  229

Disadvantages of the IOSpeed-owned NFT platform  229

Recommendations  230

Architecture diagram  230

Solution selection  230

Strategy sign-off  232

Strategy execution  232

Strategy planning  232

Communication of the objectives and goals  233

Create strategic and transformational

programmes aligned to the strategic plan  234

Realignment of human resources to strategic programmes  234

Capability uplift  235

Establish Centre of Excellence (COE)  235

Programme and milestone governance  236

Define the operating model  237

Evaluation of strategy execution  238

Lessons learnt  241

Summary  241

9 Conclusion

243

Is blockchain a hype or a hoax?  243

Why blockchain is not a hoax?  244

Why blockchain is not a hype?  244

Best practices to adopt blockchain and

gain a competitive advantage  246

Summary  247

References

249

Index

259