How Canada’s largest digital payments company is using blockchain to seize new market opportunities in the energy and health care sectors.
This report sheds light on how blockchain will enable us to re-architect the deep structures of the enterprise for innovation, shared-value creation, and prosperity for the many—for customers, employees, and their communities—rather than just wealth for the few.
Idea in brief
Enterprise transformation involves fundamental changes to how an organization operates and can include bringing new products to market or making significant structural or operational changes to people’s work, processes, and enterprise platforms and technologies.
In our signature case on enterprise transformation, we document how Interac, Canada’s largest digital payments company, is using blockchain to seize new market opportunities in the energy and health care sectors.
Using Brightline’s enterprise transformation compass, we show how two blockchain pilots run by Interac demonstrate the importance of leadership, collaboration, and employee engagement in executing an ambitious vision for transformation.
Interac collaborated with Alectra to create a blockchainpowered app that offered real-time monetary incentives to consumers for making energy-efficient consumption decisions and with the Heart and Stroke Foundation of Canada to deploy a similar incentive model for promoting healthy lifestyle choices.
Interac’s blockchain pilots demonstrate how a vital infrastructure player in the Canadian economy can leverage blockchain to transform entire business ecosystems, even in tightly regulated sectors like energy and healthcare.
The enterprise transformation efforts of Interac also underscore the importance of experimenting with new approaches to accessing skills and talent and paying