196  Blockchain

one to ask as business always looks out for the quantitative benefits

and a value for money. Some of the quantitative benefits of blockchain

strategy execution could be

⚬

⚬% of market share created by onboarding new customers to use

blockchain products or platforms

⚬

⚬Growth in the sales revenue

⚬

⚬Reduction in the operational cost by transforming the business

processes

⚬

⚬Amount of automation achieved within business processes

⚬

⚬Reduction in human errors

⚬

⚬Reduction in the incidents impacting the customers

⚬

⚬Improvement in the availability of the blockchain platform

⚬

⚬Reduction in a single point of failures (platform, human, etc.) by

improving operational resiliency

⚬

⚬Improvement in the resiliency of the number of blockchain prod-

ucts or platforms

⚬

⚬Reduction in the concentration risks by not putting all our eggs in

the same basket

• Qualitative benefits: Blockchain strategy execution also delivers

qualitative benefits that are hard to quantify; however, they have a

major impact on achievement of the strategic business outcomes. The

following are some of the qualitative benefits that could be achieved

through a successful execution of the blockchain strategy:

⚬

⚬% of employees who attained blockchain training and certification

⚬

⚬Successful setup of CoE for blockchain

⚬

⚬Successful onboarding of internal/external parties to create a con-

sortium for blockchain platform

⚬

⚬% of employee productivity improvement

⚬

⚬% of reduction in staff turnover

⚬

⚬Improvement in customer retention

⚬

⚬Acquisition of new customers

⚬

⚬Positive customer feedback

⚬

⚬Improvement of the brand image of the organisation

• Competitive advantage

The main aim of any strategy is to create competitive advantages

for the organisation. The following are some of the criteria to assess

competitive advantages:

⚬

⚬Unique features and functionalities blockchain products/plat-

forms are providing to the customers

⚬

⚬Number of high-profile clients that have adopted our blockchain

solution

⚬

⚬Regional and global market share for the blockchain solution

⚬

⚬Regulatory approval for the blockchain solution in existing and

new markets