This paper was presented at The ISPIM Innovation Conference – Innovation, The Name of The Game, Stockholm, Sweden on 17-20 June 2018. The publication is available to ISPIM members at www.ispim.org. 1 Adding value with blockchain: an explorative study in the charity retail sector Raluca Bunduchi* University of Edinburgh, South Bridge, Edinburgh, EH8 9YL, United Kingdom. E-mail: raluca.bunduchi@ed.ac.uk Chris Elsden Northumbria University, Newcastle upon Tyne, NE1 8ST, United Kingdom. E-mail: chris.elsden@northumbria.ac.uk Kate Symons University of Edinburgh, Edinburgh, EH8 9YL, United Kingdom. E-mail: k.symons@ed.ac.uk Chris Speed University of Edinburgh, Edinburgh, EH8 9YL, United Kingdom. E-mail chris.elsden@northumbria.ac.uk * Corresponding author Abstract: The paper explores the potential for deploying blockchain within existing organisations to support value creation and capture. Drawing from the study of a charity retail organisation, the paper finds that within incumbent business models, blockchain’s potential for value creation and capture arises from enabling more efficient transactions and from creating the mechanisms to support new forms of transactions embodying new value propositions. The analysis also highlights the role that the blockchain technology has in delivering such value: strengthening trust, demonstrating accountability, and supporting decentralisation of selected central management activities. Keywords: blockchain; business model; value of technology. 1 Introduction Over the past years, blockchain, a new technology emerging in the last decade to support Bitcoin, a digital cryptocurrency, has developed a reputation for representing the next Internet, a transformative technology enabling organisations to fundamentally change how they create and capture value (Iansiti and Lakhani, 2017). Blockchain is a distributed ledger of economic transactions which is both transparent and, in principle, incorruptible