Publications
Publications
- April 9, 2021
- Harvard Business Review Digital Articles
How Blockchain Can Simplify Partnerships
By: Fabrice Lumineau, Wenqian Wang, Oliver Schilke and Laura Huang
Abstract
Collaborations that require information sharing and mutual trust between companies, suppliers, and clients can be tough, particularly in the remote era. But blockchain’s distributed ledger—and its use of smart contracts—can simplify the process, creating a common, reliable record of transactions and avoiding costly disputes. In doing so, blockchain changes how deals are made: Partner selection is made simpler, as establishing trust is less important; agreement formation is more important, because protocols are hard to alter once put in place; and execution is made easier, because outcomes can be automated. Blockchain isn’t a magic bullet—it works much better in some situations than others—but it can fundamentally change how collaborations work.
Keywords
Citation
Lumineau, Fabrice, Wenqian Wang, Oliver Schilke, and Laura Huang. "How Blockchain Can Simplify Partnerships." Harvard Business Review Digital Articles (April 9, 2021).
About The Author
