Article: Blockchain and the Economics of Customer Satisfaction

Question 1

• How can Blockchain help reducing costs on an organizational level? How does this increase the customers perceived quality?

Answer 1

• Eliminate counterfeits
• > Consumers have high degree of confidence about the quality of the wine
• Artists can sell directly to consumers without intermediaries (third parties)

Question 2

• How can Blockchain help reducing costs on an interorganizational level? How does this increase the customers perceived quality?

Answer 2

• Low cost in the case of a crisis (E.g. Walmart food borne illness)
• > Consumers: Food is not adultered
• Fast tracking with various suppliers
• > Coffee Example: Consumers are assured that it´s fair trade
• Reduces wastage of resources and inspection costs