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  • All HBS Web  (166)
    • News  (52)
    • Research  (87)
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Show Results For

  • All HBS Web  (166)
    • News  (52)
    • Research  (87)
    • Events  (2)
    • Multimedia  (1)
  • Faculty Publications  (83)
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  • 2025
  • Working Paper

Code-Washing: Evidence from Open-Source Blockchain Startups

By: Ofir Gefen, Daniel Rabetti, Yannan Sun and Che Zhang
This study examines startups' management of source code repositories, distinguishing authentic developers ("code-producers''), from those inflating activity to mislead investors ("code-washers''). Using global blockchain startup and GitHub data, we find that... View Details
Keywords: Entrepreneurial Finance; Open Source Distribution; Business Startups
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Gefen, Ofir, Daniel Rabetti, Yannan Sun, and Che Zhang. "Code-Washing: Evidence from Open-Source Blockchain Startups." Working Paper, January 2025.
  • January 2024
  • Teaching Note

Compound: Lending on the Blockchain

By: Marco Di Maggio
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Di Maggio, Marco. "Compound: Lending on the Blockchain." Harvard Business School Teaching Note 224-059, January 2024.
  • April 2017
  • Case

Deutsche Bank: Pursuing Blockchain Opportunities (A)

By: Lynda M. Applegate, Roman Beck and Christoph Müller-Bloch
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Applegate, Lynda M., Roman Beck, and Christoph Müller-Bloch. "Deutsche Bank: Pursuing Blockchain Opportunities (A)." Harvard Business School Case 817-100, April 2017.
  • February 2024
  • Teaching Note

Axie Infinity: Video Game Meets Blockchain

By: Marco Di Maggio
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Di Maggio, Marco. "Axie Infinity: Video Game Meets Blockchain." Harvard Business School Teaching Note 224-060, February 2024.
  • April 2017 (Revised November 2017)
  • Supplement

Deutsche Bank: Pursuing Blockchain Opportunities (B)

By: Lynda M. Applegate, Roman Beck and Christoph Müller-Bloch
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Applegate, Lynda M., Roman Beck, and Christoph Müller-Bloch. "Deutsche Bank: Pursuing Blockchain Opportunities (B)." Harvard Business School Supplement 817-101, April 2017. (Revised November 2017.)
  • May 2020
  • Teaching Note

fidentiaX: The Tradable Insurance Marketplace on Blockchain

By: Alexander Braun, Lauren H. Cohen and Jiahua Xu
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Braun, Alexander, Lauren H. Cohen, and Jiahua Xu. "fidentiaX: The Tradable Insurance Marketplace on Blockchain." Harvard Business School Teaching Note 220-037, May 2020.
  • January 2019
  • Teaching Plan

Blockchain and the Movement of Value in Africa

By: John D. Macomber
Teaching Plan for HBS Case No. 219-084. View Details
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Macomber, John D. "Blockchain and the Movement of Value in Africa." Harvard Business School Teaching Plan 219-085, January 2019.
  • 2025
  • Working Paper

Blockchain-Induced Supply Chain Transparency and Firm Performance: The Role of Capacity Utilization

By: ShinWoo Lee Lee, Jedson Pinto, Daniel Rabetti and Gil Sadka
This study empirically investigates how blockchain adoption affects firm profitability. Employing a quasi-experimental design triggered by regulatory changes across the United States, we provide novel empirical evidence to recent theory, proposing that blockchain... View Details
Keywords: Blockchain; Supply Chain; Technology Adoption; Profit; Governing Rules, Regulations, and Reforms; United States
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Lee, ShinWoo Lee, Jedson Pinto, Daniel Rabetti, and Gil Sadka. "Blockchain-Induced Supply Chain Transparency and Firm Performance: The Role of Capacity Utilization." Working Paper, February 2025.
  • June 2024
  • Case

Beyond Borders with Blockchain – Deloitte's Digital Vision

By: Marco Di Maggio, Rim Abdallah and Roman Beck
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Di Maggio, Marco, Rim Abdallah, and Roman Beck. "Beyond Borders with Blockchain – Deloitte's Digital Vision." Harvard Business School Case 224-092, June 2024.
  • November 2017
  • Teaching Note

Deutsche Bank: Pursuing Blockchain Opportunities (A) and (B)

By: Lynda M. Applegate, Roman Beck and Christoph Müller-Bloch
Teaching Note for HBS Nos. 817-100 and 817-101. View Details
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Applegate, Lynda M., Roman Beck, and Christoph Müller-Bloch. "Deutsche Bank: Pursuing Blockchain Opportunities (A) and (B)." Harvard Business School Teaching Note 818-038, November 2017.
  • October 2021 (Revised January 2022)
  • Case

Chia Network: Reimagining Programmable Money

By: William A. Sahlman and George Gonzalez
Chia Network developed a novel blockchain platform that was more eco-friendly, decentralized, and scalable than Bitcoin, Ethereum, and other blockchains. Now, company leadership must decide how to scale the startup and prioritize various partnerships, use cases, and... View Details
Keywords: Blockchain; Entrepreneurship; Business Startups; Growth and Development Strategy; Technology Industry; Financial Services Industry; United States
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Sahlman, William A., and George Gonzalez. "Chia Network: Reimagining Programmable Money." Harvard Business School Case 822-039, October 2021. (Revised January 2022.)
  • Fall 2018
  • Article

What Problems Will You Solve with Blockchain?: Before Jumping on the Bandwagon, Companies Need to Carefully Consider how Ledger Technologies Fit into their Overall Strategy

By: Teppo Felin and Karim R. Lakhani
Distributed ledger technologies — collectively known as blockchain — have burst onto the business scene, accompanied by a significant amount of hype.They are widely expected to disrupt existing industries and lead to the creation of new types of companies. Some of the... View Details
Keywords: Blockchain; Technology Adoption; Strategy; Business Processes; Innovation Strategy
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Felin, Teppo, and Karim R. Lakhani. "What Problems Will You Solve with Blockchain? Before Jumping on the Bandwagon, Companies Need to Carefully Consider how Ledger Technologies Fit into their Overall Strategy." Reprint 60115. MIT Sloan Management Review 60, no. 1 (Fall 2018).
  • 9 Jun 2019 - 11 Jun 2019
  • Conference Presentation

Disrupting the Disruptors or Enhancing Them? How Blockchain Re-Shapes Two-Sided Platforms

By: Daniel Trabucchi, Antonella Moretto, Tommaso Buganza and Alan MacCormack
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Trabucchi, Daniel, Antonella Moretto, Tommaso Buganza, and Alan MacCormack. "Disrupting the Disruptors or Enhancing Them? How Blockchain Re-Shapes Two-Sided Platforms." Paper presented at the 26th Innovation and Product Development Management Conference, European Institute for Advanced Studies in Management, Leicester, UK, June 9–11, 2019.
  • July 2024
  • Case

Stellar Development Foundation

By: Shai Benjamin Bernstein, Scott Duke Kominers and George Gonzalez
Blockchain pioneer Stellar Development Foundation oversees one of the earliest and largest crypto networks (Stellar) and the management of its native token XLM. The foundation partnered with cross-border payments provider MoneyGram to help on and off-ramp... View Details
Keywords: Blockchain; Cryptocurrency; Payments; Business or Company Management; Networks; Partners and Partnerships; Currency; Entrepreneurship; Technology Industry
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Bernstein, Shai Benjamin, Scott Duke Kominers, and George Gonzalez. "Stellar Development Foundation." Harvard Business School Case 824-060, July 2024.
  • May 2023 (Revised June 2023)
  • Case

Harvard University and Urban Mining Industries: Decarbonizing the Supply Chain

By: Shirley Lu and Robert S. Kaplan
The case describes Harvard University’s consideration to decarbonize its supply chain by replacing cement with a low-carbon substitute called Pozzotive®. Developed and produced by Urban Mining Industries, Pozzotive® is a ground-glass material made with post-consumer... View Details
Keywords: Carbon Emissions; Blockchain; Supply Chain; Green Technology; Climate Change; Environmental Sustainability
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Lu, Shirley, and Robert S. Kaplan. "Harvard University and Urban Mining Industries: Decarbonizing the Supply Chain." Harvard Business School Case 123-076, May 2023. (Revised June 2023.)
  • December 2018 (Revised April 2020)
  • Case

Fluidity: The Tokenization of Real Estate Assets

By: Marco Di Maggio, David Lane and Susie Ma
In December 2018, the blockchain startup Fluidity was about to participate in its first tokenization deal, which would create digital access to property rights in a 12-unit Manhattan condominium complex. The deal was proof-of-concept for Fluidity, which hoped to... View Details
Keywords: Blockchain; Tokenization; Data Security; Revenue Model; Finance; Technological Innovation; Strategy
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Di Maggio, Marco, David Lane, and Susie Ma. "Fluidity: The Tokenization of Real Estate Assets." Harvard Business School Case 219-057, December 2018. (Revised April 2020.)
  • May 2022
  • Article

Coins for Bombs: The Predictive Ability of On-Chain Transfers for Terrorist Attacks

By: Dan Amiram, Evgeny Lyandres and Daniel Rabetti
This study examines whether we can learn from the behavior of blockchain-based transfers to predict the financing of terrorist attacks. We exploit blockchain transaction transparency to map millions of transfers for hundreds of large on-chain service providers. The... View Details
Keywords: Blockchain; Bitcoin; Accounting; AI and Machine Learning; National Security; Governing Rules, Regulations, and Reforms
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Amiram, Dan, Evgeny Lyandres, and Daniel Rabetti. "Coins for Bombs: The Predictive Ability of On-Chain Transfers for Terrorist Attacks." Journal of Accounting Research 60, no. 2 (May 2022): 427–466.
  • Article

Why Build in Web3

By: Jad Esber and Scott Duke Kominers
A major change is coming to the internet. While today’s dominant platforms have guarded their troves of user data and maintained an advantage through network effects, new companies—working in what they're calling a “Web3” model—are proposing a new value proposition to... View Details
Keywords: Blockchain; User Experience; Digital Platforms; Network Effects; Internet and the Web; Competition; Web Services Industry
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Esber, Jad, and Scott Duke Kominers. "Why Build in Web3." Harvard Business Review Digital Articles (May 16, 2022).
  • April 2019 (Revised February 2020)
  • Case

Ripple: The Business of Crypto

By: David B. Yoffie and George Gonzalez
The case explores Ripple CEO Brad Garlinghouse’s mission to disrupt the global payments industry by leveraging the cryptocurrency XRP. Students will learn about Bitcoin and the blockchain industry, as well as Ripple’s unique crypto business model. The case provides an... View Details
Keywords: Payment Systems; Cryptocurrency; Bitcoin; Blockchain; Fintech; Business Startups; Business Model; Disruption; Strategy; Banking Industry; Technology Industry
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Yoffie, David B., and George Gonzalez. "Ripple: The Business of Crypto." Harvard Business School Case 719-506, April 2019. (Revised February 2020.)
  • November 2023
  • Technical Note

How Decentralized are Layer 1 Protocols? The Costs and Benefits of Decentralization in the Blockchain Ecosystem

By: Marco Di Maggio
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Di Maggio, Marco. "How Decentralized are Layer 1 Protocols? The Costs and Benefits of Decentralization in the Blockchain Ecosystem." Harvard Business School Technical Note 224-048, November 2023.
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