240  Blockchain

Strategic outcome not delivered

Although the IOSpeed initial target was to go global and gain market in

various countries through the use of digital technology, an executive deci-

sion was made to launch the product and platform in UK first and then look

for opportunities in other countries.

The following is a list of strategic outcomes that were not delivered due

to the decision made by the board of directors based on risk and rewards:

• Launch the platform in other countries than UK

• Support of multiple Crypto currencies to carry out a transaction on

the platform

• Approval of other regulators than only the UK regulator for the

platform

Benefits delivered to IOSpeed

The strategy was successfully executed to deliver most of the strategic out-

comes. IOSpeed can now focus on onboarding existing customers to the new

digital platform and also to gain more market share in UK to improve the

revenues.

The following is a list of benefits delivered through the strategy execution:

• Launch of a digital art marketplace in UK based on innovative tech-

nology like blockchain

• Best-in-class product and platform development making it simple and

easy to be launched in other countries in future

• Retain existing employees and attract new skilled employees to run

the operations efficiently

• Appropriate allocation of budget for the innovation

• Retain existing customers and attract new customers

• Highly motivated and skilled employees

• Potential to gain an IP (intellectual property) for the marketplace

product and platform. This can increase IOSpeed chances of a suc-

cessful IPO in future

• Shift the substantial % of Run budget to manage the business-as-

usual (BAU) activities, to change budget to support innovation and

to transform the organisation to be more innovative, agile and deliver

with speed

• Improvement of the IOSpeed brand image to make them a highly

innovative company

• Growth in sales revenue

• Growth in customer number using the platform for Digital ART

• Growth in the artists using the platform to display and sell their digi-

tal art