The adoption of platform-based business models, in the modern economy, has been growing continuously and became tremendously successful in the last decade. Also, the huge amount of market value conquered by colossal platform companies (Airbnb, Uber, Amazon), witnesses the huge potential of such disruptive BM. Platform-based business models has challenged established companies and industry dynamics in different sectors. Digital platform companies, by leveraging network effects and acting as orchestrators of external resources, quickly disrupted traditional linear value chain- based businesses. Digital players were able to create global marketplaces where individuals, products and services could be matched more effectively than ever before. However, it seems that something is changing in the competitive arena of digital platforms. New digital technologies are revolutionizing the concepts of how platforms are defined and used by challenging their business models in the same way platforms did with traditional value chain model. In particular, blockchain has gained huge interest among researchers and practitioners due to its potential characteristics of enabling new kind of business model. Specifically, relying on its disintermediation objective when applied to transactions, blockchain technology gives the possibility to decentralized marketplaces to emerge redefining dynamics and roles of traditional marketplaces operators such as Amazon and eBay. Whereas some established players will be able to use this opportunity to further scale their operations, others will be challenged by new entrants proposing entirely new approaches to value creation and value capture. This thesis investigates the transformation brought by blockchain technology in the model of two-sided platforms and subsequently analyzes the applicability of the technology in marketplaces describing also the model of decentralized marketplaces. Furthermore, the role of intermediaries, intended as marketplace operators (or platform providers), will be investigated focusing on new ways they may still add value to the network.
L’utilizzo di modelli di business basati su piattaforme è in continua crescita e ha riscosso un enorme successo nell'ultimo decennio. L’imponente valore di mercato conquistato dalle grandi Platform Companies (Airbnb, Uber, Amazon), testimonia l’enorme potenziale di questo efficace modello di business. Queste digital Platform Companies, sfruttando gli effetti positivi delle esternalità di rete e agendo come orchestratori di risorse esterne, hanno rapidamente sconvolto le tradizionali attività basate su una catena del valore lineare. Inoltre, sono state in grado di creare mercati globali in cui individui, prodotti e servizi possono incontrarsi in modo estremamente efficace e veloce. Tuttavia, qualcosa sta cambiando nel contesto delle piattaforme digitali. Le nuove tecnologie digitali stanno rivoluzionando le modalità in cui le piattaforme vengono definite ed utilizzate, mettendo in discussione i loro modelli di business. In particolare, tra le ultime tecnologie, la blockchain ha suscitato grande interesse tra i ricercatori e gli operatori del settore per le sue capacità di definire nuovi modelli di business. Nello specifico, avendo tra le sue proprietà la disintermediazione delle transazioni, la tecnologia blockchain dà la possibilità ai marketplace decentralizzati di emergere ridefinendo le dinamiche e i ruoli degli operatori tradizionali, come Amazon ed eBay. Mentre alcuni operatori saranno in grado di sfruttare questa opportunità per scalare ulteriormente il loro business, altri saranno messi in discussione da nuovi attori che propongono modelli innovativi di creazione e acquisizione del valore. Questa tesi indaga la trasformazione apportata dalla tecnologia blockchain nel modello delle piattaforme two-sided e successivamente analizza la possibilità di applicare questa tecnologia nei marketplaces, introducendo il modello dei “marketplace decentralizzati”. Inoltre, viene indagato il ruolo degli intermediari, intesi come gestori del marketplace (o gestori della piattaforma), illustrando nuove modalità con cui essi possono ancora apportare valore all’intera piattaforma.
The impact of blockchain technology on two-sided platforms dynamics and the rise of blockchain-enabled marketplaces
Lemme, Gianluca
2021/2022
Abstract
The adoption of platform-based business models, in the modern economy, has been growing continuously and became tremendously successful in the last decade. Also, the huge amount of market value conquered by colossal platform companies (Airbnb, Uber, Amazon), witnesses the huge potential of such disruptive BM. Platform-based business models has challenged established companies and industry dynamics in different sectors. Digital platform companies, by leveraging network effects and acting as orchestrators of external resources, quickly disrupted traditional linear value chain- based businesses. Digital players were able to create global marketplaces where individuals, products and services could be matched more effectively than ever before. However, it seems that something is changing in the competitive arena of digital platforms. New digital technologies are revolutionizing the concepts of how platforms are defined and used by challenging their business models in the same way platforms did with traditional value chain model. In particular, blockchain has gained huge interest among researchers and practitioners due to its potential characteristics of enabling new kind of business model. Specifically, relying on its disintermediation objective when applied to transactions, blockchain technology gives the possibility to decentralized marketplaces to emerge redefining dynamics and roles of traditional marketplaces operators such as Amazon and eBay. Whereas some established players will be able to use this opportunity to further scale their operations, others will be challenged by new entrants proposing entirely new approaches to value creation and value capture. This thesis investigates the transformation brought by blockchain technology in the model of two-sided platforms and subsequently analyzes the applicability of the technology in marketplaces describing also the model of decentralized marketplaces. Furthermore, the role of intermediaries, intended as marketplace operators (or platform providers), will be investigated focusing on new ways they may still add value to the network.| File | Dimensione | Formato | |
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2022_07_LEMME.pdf
Open Access dal 25/06/2023
Descrizione: Documento tesi finale
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https://hdl.handle.net/10589/190400