Table 3.
Stage | Cooperative challenges | Competitive challenges |
Birth | Stakeholders create new value propositions of blockchain-based ecosystems and define their roles when working with suppliers and customers Players seize opportunities Example: IBM blockchain–health care ecosystem |
Protect ideas against competitors with similar offerings Pilot cases with similar features Examples: Change Healthcare’s Intelligent Healthcare Network with blockchain processes, Synaptic Health Alliance, and ProCredEx |
Expansion | Bring new innovations (ie, products or services) to market to increase the market share or coverage Strategy: optimize platform functionality, absorb complementary health care members, and identify and address changing demands from customers |
Compete with and defeat rival implementations Expand market share by establishing market or technical standards Strategy: build up technical or industrial standards and expand the adoption of blockchain-based applications |
Leadership | Make future prospects and encourage partners to step forward Measure: integrate with other disrupting technologies (eg, machine learning, artificial intelligence, mobile and ubiquitous health, wearables, and internet of things) |
Maintain bargaining power against ecosystem players Measures: keep customers satisfied and strengthen the customer relationship management; use backward integration, search multiple suppliers, increase profile, and conduct market education |
Self-renewal or death | Cope with innovators to generate or seize new opportunities or be replaced by alternative paradigms | Build high levels of entry barriers and customer switching costs to prevent being replaced by alternative ecosystems |