Core innovations simplify and update processes inside the existing ecosystem. They innovate from within through incremental changes.
Adjacent innovations apply successful products and services to new markets or develop new products for an existing domain. Best practices from the private sectors such as marketing and client management can thus be implemented in a new sector.
Transformational innovations contrast with adjacent and core innovations. They create a new offering for new markets. Blockchain and fintech have shown their capacity for this kind of innovation in their ability to create new fields of operation.