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Blockchain is increasingly lauded as an enabler of the transition to a circular economy. While there is considerable conceptual research and some empirical studies on this phenomenon, scholars have yet to develop a theoretical model of blockchain's role in this transition. Grounded in the sustainability transition literature, this paper addresses this gap through the following research question: What role does blockchain play in the transition to a circular economy? Following an abductive approach, we conducted interviews with ground-level experts implementing blockchain innovations for the circular economy across Europe and the United States. Through a thematic analysis, we derived a theoretical model of the relationships among (1) drivers and barriers of the transition to a circular economy,(2) blockchain innovation for the circular economy, (3) technical challenges of blockchain, and (4) the circular economy. While blockchain plays a moderating role, interviewees considered it only an infrastructural resource rather than a panacea.

Summary Blockchain technology has the potential to bring transparency and trust to a multitude of use cases. Our research demonstrates that the technology can reduce asymmetric information in markets by bridging trust gaps. The combination of blockchain and Internet of Things technology that automatically collects sensor data, provides a feasible, decentralized technological solution for such an inefficient “Market of Lemons” coined by nobel laureate Georg Akerlof. In this paper, we develop a system prototype to reduce mileage fraud on the used car markets. Our work demonstrates the feasibility of a trusted system of records for (vehicle) data such as mileage data using a distributed database based on the public Ethereum network and smart contracts. We have identified eight requirements that are fulfilled by the prototype and the functional logic and design of thesolution can be reproduced to any other application area characterized by a lack of trust between actors or by the absence of a trusted central authority. However, the developed prototype suffers from similar limitations and challenges as the technology itself. Low throughput causes limitations in scalability and transaction costs are unpredictable. Further development of the blockchain technology and considering more cost‐efficient consensus mechanisms will address these issues.

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Issues of dominance in the market place, “standards wars,” and “battles for dominance” between large companies are frequently addressed by researchers and the business press alike. The existence of companies that could establish internationally dominant solutions to customers' problems within a few years after their founding is quite unknown and the reasons for their success are hardly investigated so far. Therefore, they are not covered by traditional stage models for the establishment of dominant solutions. Presenting 22 cases and a new success factors model, this chapter shows how young companies can successfully establish their technologies as dominant solutions in the global market. Based on the studies' result, the authors then have a look at the groundbreaking IT invention of blockchain that is expected to disrupt many industries. The most prevalent success factors of the study are discussed along with the current blockchain innovation system. Their degree of significance for the success of international blockchain innovators is hypothesised for further empirical analyses.