This article attempts to explain the difference between the revolutionary disruptive innovation of bitcoin and the evolutionary efficiency innovations of industry workflow tools, and why calling them both “blockchains”, even as a generic term, is incredibly confusing.
For the rest of this post, I will use the phrase “industry workflow tools” instead of industry blockchains, as some of the emerging solutions being proposed in this space are not blockchains (eg, R3’s Corda is not a blockchain but Digital Asset’s solutions are – however, both companies are proposing industry workflow tools).
Continue reading “Confused by blockchains? Revolution vs Evolution”
How should incumbents, startups, and VCs think about FinTech, disruption, and blockchains?
Over Chinese New Year I read about Professor Clayton Christensen’s fascinating model for identifying and dealing with disruptive innovation, and attempt to summarise it in this post.
Here we learn the differences and dynamics between disruptive innovation, sustaining innovation, and efficiency innovation. Each of them interact with the others, and the appropriate approaches and defence strategies differ. I then provide my own thoughts on how this framework relates to FinTech for incumbents, startups, and venture capitalists.
Continue reading “Disruptive Innovation in FinTech”