Blockchain and Supply Chain Finance: A Critical Literature Review at the Intersection of Operations, Finance and Law

Ioannou, Ilias; Demirel, Gülcan

doi:10.2139/ssrn.4105426

Cited by 3 publications

(4 citation statements)

References 99 publications

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“…Hasil penting dari pilot project tersebut adalah terdapat kompetisi antara berbagai provider penyedia jasa blockchain LC. Kompetisi sangat penting karena mendorong adopsi blockchain di masa depan (Ioannou, 2022). Hasil pilot project dapat dimanfaatkan untuk perbaikan sistem blockchain LC kedepan karena terdapat berbagai evaluasi sebagaimana diutrakan oleh bank Mizuho yaitu kekurangan teknologi blockchain LC adalah tidak mungkin transaksi dapat terjadi ketika pembeli dan penjual tidak berada dalam satu platform blockchain LC (Chang et al, 2019).…”

Section: Gambar 5 Persilangan Topik Literaturunclassified

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Blockchain Letter of Credit: Apakah Sekarang Saatnya?

Ruslan¹

2022

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Blockchain Letter of Credit (LC) is cutting-edge technology in international trade. It opens many opportunities to eliminate the deficiencies of current LC aspects. The research aims to answer how blockchain technology disrupts the LC workflow and whether now is the best time to adopt the blockchain LC. This research employed a narrative review approach. The result revealed that out of 226 articles from ScienceDirect, IEEE Xplore, Springer Open, Emerald insight, Research Gate, and Google Scholar, 26 articles were found to be relevant to answer the research questions. Significant findings from the research are that blockchain LC and smart contracts disrupt the LC workflow to become more efficient, secure from fraud and alterations, lower cost, and provide better visibility. Another finding is that adopting the technology is relevant provided that the cost to adopt has become affordable and when many banks and companies have adopted the blockchain LC. The process of adoption should be gradual.

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Section: Gambar 5 Persilangan Topik Literaturunclassified

“…Pembahasan mengenai blockchain dan Supply Chain Finance (SCF) dari segi manajemen operasi, finance, dan hukum (Ioannou, 2022).…”

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Blockchain Letter of Credit: Apakah Sekarang Saatnya?

Ruslan¹

2022

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“…(2) Establish a unified standard risk assessment system. Banks can establish a unified standard risk assessment system through cooperation with third-party logistics companies to measure the risks of supply chain enterprises (Ioannou & Demirel, 2022). On the one hand, the establishment of the evaluation system is to improve the efficiency of bank lending, simplify the audit process, reduce the risk of the bank, on the other hand, it can also strengthen the credit consciousness of supply chain enterprises, and form a self-disciplined credit environment.…”

Section: Reduce the Cost Of Bank Supervisionmentioning

confidence: 99%

A Study on Evolution Game of Accounts Receivable Pledge Financing in Supply Chain Finance Model

Xia¹

2022

IBR

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In practice, due to information asymmetry and the bounded rationality of game participants, most of the actions taken by game participants are irrational. The evolutionary game theory is based on bounded rationality and looks at the adjustment process of group behavior through the perspective of system theory. Therefore, this paper will use the idea of evolutionary game to discuss the issue of SMEs' accounts receivable pledge financing under the supply chain finance model. This paper builds the model on the basis that both sides of the game are bounded rationality. In real life, the behavior of individuals tends to be more bounded rationality. By constructing an evolutionary game model under bounded rationality, we can see that the final evolution result between banks and loan companies is related to many factors. From the phase diagram of the evolutionary game, it can be seen that the area on both sides of the dotted line of the phase diagram is mainly determined by the profit matrix, but the direction of the final evolution is mainly determined by the initial state of the game.

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“…More detail on the data collection process and considerations can be found in section 5.1. While crypto-assets are developing at rapid speed across various industries (Ioannou & Demirel, 2022;Ozili, 2022), the focus in this work is concerned with the application of the technology within financial service regulation and specifically within European financial service regulation.…”

Section: Case Study Designmentioning

confidence: 99%

A Framing Contest Between Institutional Actors on Crypto-Asset Policymaking in the EU

Pedersen

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The emergence of Bitcoin in 2009 sparked a revolution in the realm of crypto-assets, leading to the creation of a variety of novel innovations within financial services. Today, crypto-assets have collectively reached a market capitalization exceeding $2 trillion. Alongside technological advancements, interpretations of crypto-assets vary widely, ranging from considering them as money and payment systems to disruptive forces challenging traditional financial and regulatory frameworks. The regulatory landscape surrounding crypto-assets remains uncertain, prompting debates on the effectiveness of existing regulations in light of digitalization. Policy debates occur on national and supranational levels, where the emerging field of crypto-assets, offering a variety of novel financial services, also engage in policy work to address the increasing regulatory uncertainty arising across Europe. While the ‘Markets-in-Crypto-Assets’ (MiCA) regulation highlights Europe’s response to the developments of crypto-assets, understanding the work that went into the policymaking process remains unexplored. By integrating institutional work theory with an interdisciplinary interactive framing perspective, this case study examines how institutional actors construct meaning and shape policymaking surrounding crypto-assets. Through empirical analysis of an EU working group, this dissertation unfolds a process of institutional meaning making that spans three distinct periods: divergence, intensification, and stabilization. The analysis reveals how institutional actors engage in frame negotiations, developing and shifting frames due to interpretive shifts and environmental triggers. Six frames and two frame shifts are identified, reflecting the evolution of framing within the policymaking context. Moreover, the research reveals four framing mechanisms employed by the working group in their efforts to shape and influence policymaking outcomes. The findings of this research contribute to theory and practice by unravelling the complex search for policy action concerning emerging disruptive digital innovations. The main theoretical contribution to the Information Systems (IS) research domain on crypto-assets is a process model that integrates the evolution of framing, technological advancements, and the micro-mobilizing actions of institutional actors in shaping institutions and technological trajectories. The model illustrates the origin and emergence of frames, their evolution due to frame shifts, and their persistence or dissolution over time and across different periods of institutional meaning and decision-making. In addition, the findings contribute to theoretical advancements in institutional work theory and framing processes, providing insights into the negotiation strategies of institutional actors. Furthermore, this research extends beyond theoretical contributions to offer practical insights into the implications of policy on crypto-asset developments. Specifically, the acceleration of policymaking observed underscores the challenges posed by regulatory responses to technological innovation and the expertise asymmetry of policymakers. Additionally, the diversification, innovation, and bifurcation of the payment landscape and future considerations of the design of digital monetary strategies contribute to further discussions of the regulation of crypto-assets in the EU.

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Blockchain and Supply Chain Finance: A Critical Literature Review at the Intersection of Operations, Finance and Law

Cited by 3 publications

References 99 publications

Blockchain Letter of Credit: Apakah Sekarang Saatnya?

Blockchain Letter of Credit: Apakah Sekarang Saatnya?

A Study on Evolution Game of Accounts Receivable Pledge Financing in Supply Chain Finance Model

A Framing Contest Between Institutional Actors on Crypto-Asset Policymaking in the EU

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