Strategic Alliances for Technology Adoption: Alliances and Partnerships for Blockchain Adoption

This paper aims to study the relevance and importance of strategic alliances for emerging technology adoption. The case researched and discussed here is Blockchain adoption in the semiconductor industry. As a technology, Blockchain has been around for over a decade and is known to provide tremendous value in business transactions. However, the adoption has not gained traction mainly due to the fact that it takes a network to adopt an industrial Blockchain and cannot work in silos. Most companies are shying away from it as they haven't explored what makes a successful strategy for adoption. A literature review was done on the similar technology adoption in the past. The nature of Blockchain and its network dependency were considered. It was clear that strategic alliances are the way to move forward. The various aspects to be considered while forming an alliance, such as understanding the core competencies, finding the right partners, and form of alliances was studied. The research converged in understanding the fact that companies should move away from the transactional business model and have the right expectations and scoping on all sides, standardization, digital integration, and a steady focus on security and privacy.