In 2018, the owner of Blue Sky Ranch, a heritage pig farm in British Columbia, Canada, was reviewing her business options. She had been producing premium-priced, high-quality pork for two years; however, despite growing demand from restaurants, grocers, and consumers for high-end, sustainably raised, free-range meat, Blue Sky Ranch was not yet profitable. The owner faced several challenges in processing and delivering her product to clients, and faced competition from large meat producers who had stronger relationships within the food supply chain. The business was operating at a loss and was continually constrained by federal and provincial regulations. What options were available to ensure the future of her business?

Much of the attention surrounding blockchain today has focused on financial services, with very little discussion about nonfinancial services firms and how blockchain technology may affect organizations, their business models, and how they create and deliver value. In addition, some confusion remains between Blockchain (capital letters) and blockchain (lower case), distributed ledger technologies, and their applications. Our article offers a primer on blockchain technology aimed at general managers and executives. The key contributions of this article lie in providing an explanation of blockchain, including how a blockchain transaction works and a clarification of terms, and outlining different types of blockchain technologies. We also discuss how different types of blockchain impact business models. Building on the well-established business model framework by Osterwalder and Pigneur, we outline the effect that blockchain technologies can have on each element of the business model, along with illustrations from firms developing blockchain technology.