When the British Olympic Association (BOA) took an interest in emerging blockchain technology, all eyes were on Ruchir from Deloitte Ventures to create an effective strategy.
Can you tell us what led to you working with the BOA?
I took part in initial discussions between Deloitte and the BOA about emerging blockchain use in the sports sector. At first, the BOA were uncertain, but as I continued to share insights and case studies over time, they began to recognise the potential benefits. Particularly the value it could have in generating fan engagement.
This meant I was tasked with creating the initial framework for a blockchain strategy engagement with the BOA.
What approach did you and your team at Deloitte Digital bring to this project?
We took the BOA through a crash-course on blockchain, so they could identify the strongest areas for further exploration. My team then created a range of conceptual solutions to support the BOA’s strategic objectives.
After establishing priority concepts, we worked through the specific benefits of the technology to arrive at a model of how our solution might work. In this case, we created a functional and technical model of Team GB Coin, a fan-based loyalty and rewards token.
Were the BOA open to working with such new and rapidly evolving digital technology?
Early on, during interviews with stakeholders from the BOA, we realised how open and curious they had become about new technology. The technical questions they were asking showed how engaged they were in this project. And thanks to the volume and quality of feedback we received during the development of our model, we were really able to craft a feasible and compatible solution that fit with their strategic vision.
This was my first opportunity to work with a major sporting body, but because of the reach Deloitte has, and how well things went, I believe this will be the first of many. I loved how supportive and enthusiastic the BOA team were about exponential technology, and that made it all the more enjoyable.
What did working with the BOA teach you?
Working alongside other specialists from Deloitte, and of course the BOA, strengthened my approach to strategic assessments. I now have a wider array of tools, experience and people I can draw on to help future clients.
It also underlined the importance of coordination, particularly when you’re working with a multidisciplinary team. At Deloitte, I get to collaborate with so many different experts, who all bring their unique capabilities, experiences, techniques and personalities to a project. To make all the pieces fit together requires flexibility and an open mind to new ways of doing things. Personally, I think that’s the way everyone should approach the world, and I’m glad that Deloitte actively encourages it.
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