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Applications of blockchain technology (BCT) are scaling globally, especially in developing countries, where the opportunities that they exploit are often most prevalent. Achieving scale is vital for BCT ventures, which rely on network effects. BCT ventures seeking to scale employ innovative methods for scaling and also provide interesting insights on entrepreneurial scaling. We draw attention to three approaches that support scaling –promoting technology platforms, leveraging collective action, and navigating institutional contexts– and identify theoretically-grounded strategies for scaling related to these three approaches. We also build from the practical experience of cLabs, a BCT venture seeking to scale Celo, a mobile-first cryptocurrency blockchain platform focused on the developing world. We examine what BCT proponents like cLabs need to do to scale quickly and synthesize key insights, strategies for BCT ventures in developing contexts, and opportunities for future research. |
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