IBM Cloud Garage: Blockchain and New Business Models
By Alan Lim
Starting up and growing rapidly
To capitalize on the massive growth of the market in Asia, enterprises and startups alike are experimenting with new business models—such as the establishment of platform businesses—and are looking towards technologies such as blockchain to give them the competitive advantage in the marketplace.
The IBM Cloud Garage has played a pivotal role in helping clients uncover the feasibility and potential of blockchain technology.
Begin with why
Begin with the why rather than beginning with the assumption that the answer to the problem is blockchain. We start with a deep understanding of the problem we are solving, the users and their needs, as well as the points of frictions that relate to how users and organisations interact with each other within a business network or ecosystem. This allows us to reflect on the real issues and needs without pre-supposing that blockchain would be the answer.
It’s hard enough helping one large enterprise transform its business; imagine getting an industry (and competitors at that) to agree to a single point of view! However, this is the nature of establishing an industry network from scratch. At the Garage, we bring our breadth of expertise to help navigate the diverse set of considerations and drive alignment between the different stakeholders and the creation of a shared vision and roadmap for moving forward.
We incorporate elements of the IBM Garage Method, such as Design Thinking and Lean Startup, with blockchain technology and business domain expertise in our approach. Through this, we seek to derive an adoption model that factors in considerations such as the technical feasibility, business viability, as well as the cultural and regulatory impacts of moving from a centralised style of governance to something that is more open and differentiated.
In Asia Pacific, IBM has been steadily building up momentum with networks across banking, financial markets, insurance, retail, consumer goods, and others. It has been exhilarating seeing an increasing number of these networks moving from the ideation phase to pilot and production phases.
With more than 500 client engagements and hundreds of active networks globally, IBM is widely recognized as a leading enterprise blockchain provider. In this regard, IBM has been privileged to work with thought leaders like Maersk, Walmart, We.Trade, and Kasikornbank to advance cross-industry collaboration for blockchain for business.
Growing in strength
I had the opportunity to lead the establishment of the IBM Cloud Garage in Singapore in 2016 and witness first-hand its growth into a multidisciplinary team of software engineers, architects, and UX designers serving the bustling Asian market today. However, with the expanded Blockchain Labs capabilities supporting organizations (large and small) who are moving to the next stage of their digital transformation, the journey has only just begun!
This blog is a part of a series celebrating the fifth anniversary of the IBM Cloud Garage.
To learn more about the IBM Cloud Garage, find our story, resources, and method here. If you would like to see how the IBM Cloud Garage can help your business, schedule a cost-free, four-hour virtual visit with us. We’d love to help you turn that idea into a reality.