Jai Singh Arun is a senior program director at IBM corporate strategy team and drives strategic product management and business development of IBM Research innovations within Blockchain, Artificial Intelligence, and Cybersecurity areas. He has over two decades of global, cross-functional business and emerging technologies leadership experience, building multi-million dollar software, systems, and services businesses.

Jerry Cuomo leads IBM’s engineering and product initiatives on Blockchain. He holds the prestigious title of IBM Fellow and is recognized as one of the most prolific contributors to IBM’s software business, producing products and technologies that have profoundly impacted how the industry conducts commerce over the World Wide Web.

Nitin Gaur is an IBM distinguished engineer and worldwide director and he leads IBM’s global blockchain labs and services. He is responsible for strategy and developing offerings of IBM’s digital currency technologies, such as stable coins and digital fiat. He pioneered IBM’s enterprise blockchain strategy and advised IBM decision makers, business partners, and clients on the use of the technology.

Foreword xii

Preface xvii

Acknowledgments xxiii

About the Authors xxvii

Chapter 1: Introduction to Blockchain 1

Blockchain Beliefs 2

Enterprise Blockchain 3

Why Blockchain Matters 4

The Trailblazers 5

Blockchain for Good 9

Blockchain Questions from Business and Technology Leaders 12

Chapter Summary 16

References 17

Chapter 2: Opportunities and Challenges 19

Disruptive Elements 20

Opportunities 25

Challenges 40

Chapter Summary 47

References 47

Chapter 3: Understanding the Technology Landscape 49

Blockchain: A Technical Perspective 50

Blockchain for Enterprises 56

Essential Maturity Imperatives for Enterprise Blockchain 66

Token Revolution 68

Understanding Digital Asset (Token) Fungibility: Opportunities and

Considerations for Meaningful and Sustainable Blockchain-Powered

Chapter Summary 85

References 86

Chapter 4: Business of Business Models 87

Path to Blockchain Enterprise Adoption: A Prescriptive Approach 87

Business Modeling and Design 92

Chapter Summary 104

Chapter 5: Developing a Governance Structure for Blockchain Networks 105

Governance Structure and Landscape 109

SCTrustNet 118

Chapter Summary 121

Chapter 6: Building a Team to Drive Blockchain Projects 123

Enterprise Structures in a Decentralized Economy 124

Roles of an Enterprise in a Blockchain Network 126

Building an Effective Team 128

Intraprise Synergy 132

An Example of a Blockchain Project Team 134

Chapter Summary 135

Chapter 7: Understanding Financial Models, Investment Rubrics, and Model Risk Frameworks 137

Understanding Blockchain Project Financial Fundamentals 139

Blockchain Investment Rubric 143

Return on Investment Modeling 148

Risk Modeling 153

Chapter Summary 159

References 160

Chapter 8: Looking Ahead: What Does the Future Hold? 163

The Network of Networks 164

Blockchain at the Nexus of Technology 167

Blockchain Opportunities and Challenges: What Lies Ahead? 173

Overall Summary 176

References 180

Index 183