With the increasing digitalization of the economy, it is becoming increasingly important for organizations to embrace digital innovation. The emergence of block-chain technology exemplifies the disruptive impact of digital innovation and, simultaneously, poses challenges for organizations. For these reasons organizations are in transition with regard to fostering its organizational adoption. This kind of adoption is reflected in far-reaching measures in terms of technology, organization, and people. The measures are governed by project management that aligns internal measures with the outside environment. Experts argue that blockchain technology can replace existing technology by demonstrating superior features regarding business requirements, such as speed, security, or quality, and showing major financial benefits in terms of cost saving due to lower running costs in the future.

Take a glance at the senior executives’ attitudes on blockchain and its adoption, 2019:

• 86% of surveyed senior executives reported that blockchain technology is broadly scalable and will eventually achieve mainstream adoption.
• 83% of surveyed executive teams indicated that there is a compelling business case for blockchain technology.
• 82% of surveyed senior executives mentioned that their suppliers, customers, and competitors are discussing or working on blockchain solutions to current challenges in the value chain that serves their organizations.
• 81% are planning to replace their current systems of record.
• 77% said that they will lose a competitive advantage if they don’t adopt blockchain technology.

A Graph Shows The Level of Agreement Regarding Blockchain Technology and Its Adoption, 2019.