Creating a blockchain platform: An empirical analysis in the Italian banking sector

Abstract

Digital platforms continue to be a focal point for scholars and practitioners, with growing attention being paid to the dynamics that shape platform leadership. Against this backdrop, blockchain technology emerges for its disruptive potential, offering attractive opportunities for collaboration through shared infrastructure, and arguably remodelling power dynamics in platform ecosystems. The increase in interest has, however, produced only a scattering of empirical insights into the creation of blockchain platforms. The research presented in this paper addresses the gap through an exploratory case study, investigating the early phases of a blockchain platform. The study focuses on a project conducted within the banking sector, outlining the process of blockchain platform development and the unique role of its orchestrator. These findings contribute to our understanding of how blockchain platforms are created, and set out the broader implications for digital platforms, exploring the transformative potential of blockchain technology.