In this article lets know how the framework deveoped by two professors at Harvard Business School helps us to understand about the adaption of blockchain.
This framework developed by two professors Marco lansiti and Karim R. Lakhani which has two dimensions, novelty and complexity states as other user of the as scale and impact of these blockchain application increases it requires significant institutional change.
For understanding about the process of adaptation of blockchain in Nepal lets use the model of this framework and see when can we really expect blockchain to be used for different applications in a wide variety of domain using scalable method. This framework is a graph which plots complexity and coordination on the y axis while novelty on the x axis.Both of these are again sorted based on high and low level in their respective axes.
This framework cant predict the time but it predicts the application type and how broad acceptance of blockchain in due course will come out. The two professors are not only writing about blockchain but are the author of one of the very best book on Al – competing in the age of ai which also has its own model. Watch what they say about what this model does in a video about their book.
FOUR QUADRANTS OF THE FRAMEWORK
Lets get our mind and heart into blockchain and not on the Al: 4 quadrants
For using blockchain locally we use private people and for globally we engage with public.since value is created even in low number of people it has high novelty and low complexity.As single use case application of private blockchain to create local private network and Distributed ledger technology or public blockchain in simple words to create a global network.
As an comparison to Nepal we use router here as single(private) use case of wifi where many people (global) are connected through routing to the single hub. Substitution Built on previously discussed quadrants single use and Localization, this of low novelty but due to being of public demand they fall in high coordination and complexity.
Blockchain have now substituted fiat money with its most popular cryptocurrency, bitcoin and have given people a hope that it being a foundational technology for different applications that are both global and local and uses internet and intranet respectively can change the system of world of doing things of any way.blockchain achieves this by bringing innovation entirely in the system.
For the context of Nepal we can use Daraz as analogy and see how e-commerce business after gaining traction over here are substituting the physical form of buying and selling where store is visited by the customer.
This quadrant is high both on novelty and complexity and coordination,As it basically tries to disrupt the very nature of system.This comprises all other 3 quadrants.for adopting this transformation we need major change in the system.
For nepal this transformation thing can be seen as internet and smartphones.With their help we are able to solve many single use application localization is gained by wifi substitution of wide range of products as radio, camera, telephone, etc.
At the end of the day we need to learn about these principles of each quadrant to see to see the path for ourselves how we can use blockchain to our own any kind of application so that we can bring it into action solving and scaling our problems for mass adoption.