220  Blockchain

SWOT on IOSpeed use case

Factor

Description

Impact on IOSpeed Blockchain adoption

Strengths

Highlights its capabilities, uniqueness and niche to differentiate itself from

competitors, using internal and external data.

•

IOSpeed has a good brand name and niche loyal clients as well as

artists

•

IOSpeed had established an excellent leadership team to focus on

strategic transformation

•

Support from Board of directors and investors support

Weaknesses

Weaknesses are the factors that can lead to stop or slow down an

organisation to perform at its optimum level.

•

Negative impact on Brand image

•

Brain drain due to organisation restructuring

•

High overheads due to physical only presence of Art exhibitions

•

Lack of resiliency

•

Lack of capital allocation for innovation

•

High turnover of staff, artists and also customers

Opportunities

Opportunities refers to external factors that can be favourable to the

organisation to have competitive advantage.

•

Analyse the geographical markets globally to look out for financial and

regulatory assistance to innovate products and platform for Art

•

IOSpeed is registered in UK and can benefit from Government

assistance through Corporation tax cut and additional benefits/subsidy

for Fintech and Art/Media sectors

Threats

Threats refers to external factors that have potential to harm an organisation

or have a negative impact.

• IOSpeed has already been impacted by Covid-19 pandemic due to their

lack of resiliency.

• IOSpeed can have impact from global taxation rules if they go global in

future.

• IOSpeed also can be impacted by lack of artists in a specific country or

loss of artists to competitors

• Supply chain issues related to import/export of the physical art pieces if

the future strategy is to have digital as well as physical art business.

Figure 8.1  SWOT.