Blockchain and Smart-Contract: A Pioneering Approach of Inter-Firms Relationships? The Case of Franchise Networks

Abstract

This paper is interested in the analysis of Blockchains and Smart-contracts applied to inter-firms relationships, in particular the franchise networks. After defining the Blockchain technology and the Smartcontract as a particular type of contract stored in blockchains, we question the theory of contracts and its conception(s) of transactions, information asymmetries, firm or inter-firm relations. To better understand the challenges of blockchain for franchise networks and identify opportunities for implementation in these networks, we present some relevant applications of this technology. We identify different ways where blockchain technology could improve the network management and therefore their performance: the supply-chain, the brand-name protection, security and transparency in the payment of fees and royalties, access to reliable information via an oracle.

How digitalization affects insurance companies: overview and use cases of digital technologies

“…Blockchain has gained importance through cryptocurrency transactions, making it suitable for any form of immutable information storage, including smart contracts (e.g., Baron and Chaudey 2019;Eling and Lehmann 2018;Gatteschi et al 2018;Grima et al 2020;Kamble et al 2019). The use case describes automated contracts, which pass their encoded conditions to the blockchain (Baron and Chaudey 2019).…”

“…Blockchain has gained importance through cryptocurrency transactions, making it suitable for any form of immutable information storage, including smart contracts (e.g., Baron and Chaudey 2019;Eling and Lehmann 2018;Gatteschi et al 2018;Grima et al 2020;Kamble et al 2019). The use case describes automated contracts, which pass their encoded conditions to the blockchain (Baron and Chaudey 2019). For instance, a smart contract can automatically authorize a payment due to the occurrence of predefined conditions (Grima et al 2020), which can be the basis for insurers to settle claims in real-time (Kamble et al 2019).…”

“…For instance, a smart contract can automatically authorize a payment due to the occurrence of predefined conditions (Grima et al 2020), which can be the basis for insurers to settle claims in real-time (Kamble et al 2019). 22 The contract conditions are coded and transmitted to the blockchain, while oracles 23 can be employed as third-party providers (Baron and Chaudey 2019). Moreover, authorized intermediaries (in this case insurance, law or medical firms) can bundle individuals' information on a consortium of blockchains and can thus integrate access for insurance companies (Gatteschi et al 2018).…”

Managing customer satisfaction: digital applications for insurance companies

“…We moreover focus on sentiment analysis along with image recognition (e.g. Baron and Chaudey 2019;Gatteschi et al 2018), robo-advisory (e.g. OECD 2017) and chatbots (e.g.…”

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