Blockchain-Powered Value Creation in the 5G and Smart Grid Use Cases

    Research output: Contribution to journalArticleScientificpeer-review

    6 Citations (Scopus)

    Abstract

    Before the implementation of a solution, it is cost-efficient and practical to be able to evaluate and analyze the expected value of use cases. Especially, this is emphasized in blockchain (BC) use cases, which typically have a wide business ecosystem and possibly disruptive business models. This paper presents two BC use case value evaluations and results. The IoT use cases were selected from two different industry segments: telecommunications-oriented 5G network slice brokering and the energy industry-related internal electricity allocation in a housing society. The use case value was assessed by applying a resource configuration framework and 4C - commerce, context, content, and connection - business model typology against BC and smart contracts characteristics and capabilities. The results derived from the data collected from the expert workshops proved the expected value of the use cases, and in general, the feasibility of BC technology for facilitating various value-creating resource configuration processes was shown. Furthermore, the resource configuration framework proved to be a valuable theoretical approach for analyzing and developing also the BC-enabled novel use cases and business models. According to the findings, further development of the framework is proposed with an introduced novel decentralized resource configuration prototype that can replace predominant platform-based business models.

    Original languageEnglish
    Article number8648405
    Pages (from-to)25690-25707
    Number of pages18
    JournalIEEE Access
    Volume7
    DOIs
    Publication statusPublished - 21 Feb 2019
    MoE publication typeA1 Journal article-refereed

    Fingerprint

    Industry
    Telecommunication industry
    Ecosystems
    Electricity
    Costs
    Internet of things

    Keywords

    • 4C typology
    • 5G
    • Blockchain
    • business models
    • decentralization
    • resource configuration
    • smart grid

    Cite this

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    title = "Blockchain-Powered Value Creation in the 5G and Smart Grid Use Cases",
    abstract = "Before the implementation of a solution, it is cost-efficient and practical to be able to evaluate and analyze the expected value of use cases. Especially, this is emphasized in blockchain (BC) use cases, which typically have a wide business ecosystem and possibly disruptive business models. This paper presents two BC use case value evaluations and results. The IoT use cases were selected from two different industry segments: telecommunications-oriented 5G network slice brokering and the energy industry-related internal electricity allocation in a housing society. The use case value was assessed by applying a resource configuration framework and 4C - commerce, context, content, and connection - business model typology against BC and smart contracts characteristics and capabilities. The results derived from the data collected from the expert workshops proved the expected value of the use cases, and in general, the feasibility of BC technology for facilitating various value-creating resource configuration processes was shown. Furthermore, the resource configuration framework proved to be a valuable theoretical approach for analyzing and developing also the BC-enabled novel use cases and business models. According to the findings, further development of the framework is proposed with an introduced novel decentralized resource configuration prototype that can replace predominant platform-based business models.",
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    Blockchain-Powered Value Creation in the 5G and Smart Grid Use Cases. / Valtanen, Kristiina; Backman, Jere; Yrjola, Seppo.

    In: IEEE Access, Vol. 7, 8648405, 21.02.2019, p. 25690-25707.

    Research output: Contribution to journalArticleScientificpeer-review

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