Public and private blockchain projects inherently multi-stakeholder. Blockchain projects must have stakeholder commitment, trust, and mutual buy-in of member parties to succeed; the process for cultivating these traits is unique in public vs. permissioned ecosystems. Stakeholder strategy helps these platforms understand who needs to be at the table, how to involve players in the right way, and what to build into a system’s governance.
From nonprofit networks to chambers of commerce, community-driven solutions need trust, commitment, and value add to thrive. Stakeholder strategy helps these platforms identify groups that need to be involved, understand their ecosystem’s needs, determine responsibilities of involved parties, and set a plan to scale together.
If you are building a new multi-stakeholder platform or network, stakeholder strategy should begin at the time of inception; helping you ensure your offering aligns with the needs of your future partners.
With issues of stakeholder involvement, it’s better to set a strategy soon rather than later.
With rapid implementation of the right stakeholder strategy, even projects that are beginning to experience loss of membership and breakdown of trust can make a comeback (see Maersk Tradelens).
"I strongly believe that the proverb 'Measure twice and cut once.' applies in blockchain ecosystem design. Measure the needs of your ecosystem, work with them to make sure you’ve got it right, engage them in the design process, and then build. This saves time, money, and much heartache.”
- Kirsten Pomales Langenbrunner
Schedule a Stakeholder Discovery Call, where we’ll get to know your project, and begin to understand the extent of your stakeholder relationships and strategy. After the call, you’ll receive a complimentary Mini Stakeholder Analysis, where you’ll find the unique opportunities and pitfalls to be aware of as you scale alongside your stakeholders.
I advise your leadership team on stakeholder strategy, within the context of your go-to-market plan. You’ll get a better understanding of how your team should be engaging your most important partners through leveraging our best practices. (Engagement Time: 2-4 Weeks) ($)
I integrate into your team’s workflow to help them get stakeholder strategy right as you build. In doing so, I teach our best practices to your internal talent. (Engagement Time: 4-16 Weeks) ($$)
I lead an existing team or build out a team to manage end-to-end stakeholder strategy for your project. Your leadership provides the inspiration, we get everything else done necessary to forge lasting strategic relationships amongst your stakeholders. (Engagement Time: Varies by Project) ($$$)
Human-centric blockchain consultant Kirsten Pomales Langenbrunner (KPL) and her network partner with global enterprise and business-to-business blockchain teams to scale their systems, reach sustainable profit, and become the next success story everyone reads about.
Kirsten has been helping teams and networks scale since the beginning of her career, where she worked in policy coalition building around entrepreneurship issues. Having worked and consulted in the tech startup space for years, in 2019 Kirsten noticed that one of the most common causes of blockchain project failure was teams neglecting the human component of their projects. Kirsten has been helping teams in blockchain set productive stakeholder strategies since.
Kirsten serves as the Vice Chair of IEEE P2145 Blockchain Governance Standards Working Group, has given numerous lectures on governance and stakeholder engagement in blockchain, and works alongside leading consultants to scale enterprise blockchain systems.
The Caribbean banking sector
A Caribbean fintech company needed to determine the business value proposition, membership structure, and governance of it’s new multi-bank blockchain consortium.
I worked with their team to craft win-win scenarios with their go-to-market partners, coherently and compellingly. We conducted risk analysis and interviews alongside stakeholders to understand the obstacles they needed to overcome as a group. We set a strategy for co-creation amongst stakeholders to ensure the end consortium would meet everyone’s needs.
We provided a detailed go-to-market plan and founding articles for the consortium including; governance, membership models, revenue models, legal protections, risk mitigation techniques, and launch strategy. This prepared the team to launch this collaborative venture.
Schedule a Stakeholder Discovery Call, where we’ll get to know your project, and begin to understand the extent of your stakeholder relationships and strategy. After the call, you’ll receive a complimentary Mini Stakeholder Analysis, where you’ll find the unique opportunities and pitfalls to be aware of as you scale alongside your stakeholders.Mark Our Calendars →