Best practices for blockchain-driven digital transformation in cross-industry settings

Abstract

Digital transformation (DT) is complex and uncertain, particularly within traditional industries. Distributed ledger technology, such as blockchain, has driven DT across many global sectors. Despite its transformative potential, scaling blockchain solutions beyond pilot projects often fails due to technical, organisational and environmental barriers. Many failures stem from ineffective collaboration and strategic misalignment among ecosystem partners rather than from technology. This study examines collaborative processes and enabling capabilities required for successful DT by focusing on a longitudinal case study from Finland (2019–2023). The case follows a cross-industry, blockchain-driven DT initiative that achieved scale despite transitioning from private blockchain to centralised technologies after market entry. While the role of blockchain in this success has been documented (Saari et al., 2024), the ecosystem collaboration mechanisms and strategies for tackling challenges remain unclear. Using the technology–organisation–environment (TOE) framework, this paper analyses how DT unfolded across these contexts, identifying best practice strategies and enabling capabilities. The study draws on 35 interviews with key stakeholders and thematic content analysis to identify critical scaling enablers. Our findings reveal that scaling blockchain-driven DT in cross-industry settings requires 1) industry-level mindset and shared vision, 2) formalised collaboration and public–private partnerships, 3) governance structure with a sustainable business model and funding, 4) complementary ecosystem roles and an early-stage champion, 5) stakeholder training and support and 6) flexibility in technology and agile implementation. These elements show that trust and strategic alignment can emerge even among direct competitors, offering valuable insights for enterprises exploring blockchain innovation in business-to-business contexts.