Elevating Business Models to the Ecosystem Level: Evidence from Web3 and Beyond

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Abstract

Business models integrate activities for value creation and capture. While ecosystems have emerged as potent catalysts for value creation through collaborative innovation, the common understanding is that value capture occurs within individual firms. This paper challenges this dichotomy. In an empirical study using a polar types case approach, we first illustrate how two ecosystems employ decentralization technology, specifically blockchain-based Web3 platforms, to elevate value capture to the ecosystem level. We then outline the implications beyond the blockchain domain using two non-Web3 cases. Specifically, we show — from the perspectives of value proposition, value constellation, and profit equation — how business models can rise to the ecosystem level.
Original languageEnglish
Title of host publicationHawaii International Conference on System Sciences
PublisherHawaii International Conference on System Sciences
Pages5071-5080
Number of pages10
ISBN (Electronic)978-0-9981331-7-1
Publication statusPublished - 3 Jan 2024
MoE publication typeA4 Conference publication
EventAnnual Hawaii International Conference on System Sciences - Honolulu, United States
Duration: 3 Jan 20246 Jan 2024
Conference number: 57
https://hdl.handle.net/10125/102456

Publication series

NameProceedings of the Annual Hawaii International Conference on System Sciences
ISSN (Electronic)2572-6862

Conference

ConferenceAnnual Hawaii International Conference on System Sciences
Abbreviated titleHICSS
Country/TerritoryUnited States
CityHonolulu
Period03/01/202406/01/2024
Internet address

Keywords

  • Business model
  • Ecosystem
  • Value creation
  • Value capture
  • Blockchain

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