Blockchain, business and the fourth industrial revolution: Whence, whither, wherefore and how?

Kimani, Danson; Adams, Kweku; Attah‐Boakye, Rexford; Ullah, Subhan; Frecknall‐Hughes, Jane; Ja, Kim

doi:10.1016/j.techfore.2020.120254

Cited by 130 publications

(85 citation statements)

References 96 publications

(153 reference statements)

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“…There are various studies beyond 2017 based on systematic literature review of blockchain technology (Ali et al 2020;Casino, Dasaklis & Patsakis, 2018;Kumar & Navin, 2021;Klarin, 2020;Vranken, 2017;Kimani et al 2020;Hassani, Huang and Silva, 2018;Janssen et al 2020;Merediz-Solà & Bariviera, 2019;Nawari & Ravindran, 2019;Taylor et al 2019;Ante, 2020;Yang, 2019) The current research focuses on the usage of blockchain technology in the financial and e-finance sectors.…”

Section: Frame Research Questionsmentioning

confidence: 99%

Systematic Literature Review on Application of Blockchain Technology in E-Finance and Financial Services

Trivedi

Mehta

Sharma

2021

Journal of Technology Management & Innovation

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Blockchain is thought to be the most recent innovation in technology. Trust is especially important in areas like the banking sector. Blockchain technology is a decentralised, coded security system which permits the development of novel digital platforms and services using this developing technology. The current research focuses on the usage of blockchain technology in the financial and e-finance sectors. The study focuses of research questions such as the development of blockchain technology, the adoption & challenges in blockchain technology and the application of blockchain technology in the financial sector. This study conducted a systematic review of 76 scientific articles on blockchain technology, narrowing down the selection to 59 articles. As a result, the author created classification framework with three dimensions: blockchain development, challenges and applications in the financial sector. This study recognizes consequences for blockchain research and practice in the future. The study reveals that blockchain has various unexplored application in finance sector and also there is a scope of improvement in technology. Also, the technology is unregulated, thus, it is still in its nascent stage and a lot is to be done in the field.

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Section: Frame Research Questionsmentioning

confidence: 99%

Systematic Literature Review on Application of Blockchain Technology in E-Finance and Financial Services

Trivedi

Mehta

Sharma

2021

Journal of Technology Management & Innovation

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“…The prefix "crypto" indicates the use of cryptography for security and verification purposes in the course of creating and transferring money. The cryptocurrency transactions are processed and completed using the blockchain technology-the technology that underpins many of the innovations that are currently revolutionising the financial services sector around the world [20]. The most notable application of blockchain is in the development and operation of cryptocurrencies, but there is a space and opportunity for its application in other sectors such as international trade, taxation, supply chain management, business operations and governance.…”

Section: Cryptocurrencies-a Short Overviewmentioning

confidence: 99%

Cryptocurrency Portfolio Selection—A Multicriteria Approach

2021

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This paper proposes the PROMETHEE II based multicriteria approach for cryptocurrency portfolio selection. Such an approach allows considering a number of variables important for cryptocurrencies rather than limiting them to the commonly employed return and risk. The proposed multiobjective decision making model gives the best cryptocurrency portfolio considering the daily return, standard deviation, value-at-risk, conditional value-at-risk, volume, market capitalization and attractiveness of nine cryptocurrencies from January 2017 to February 2020. The optimal portfolios are calculated at the first of each month by taking the previous 6 months of daily data for the calculations yielding with 32 optimal portfolios in 32 successive months. The out-of-sample performances of the proposed model are compared with five commonly used optimal portfolio models, i.e., naïve portfolio, two mean-variance models (in the middle and at the end of the efficient frontier), maximum Sharpe ratio and the middle of the mean-CVaR (conditional value-at-risk) efficient frontier, based on the average return, standard deviation and VaR (value-at-risk) of the returns in the next 30 days and the return in the next trading day for all portfolios on 32 dates. The proposed model wins against all other models according to all observed indicators, with the winnings spanning from 50% up to 94%, proving the benefits of employing more criteria and the appropriate multicriteria approach in the cryptocurrency portfolio selection process.

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“…There is insufficient research on how organizations can effectively adopt and implement it into their business operations [21]. Only a few studies, such as Du et al [21] and Kimani et al [22], examined the strategies related to how organizations adopt blockchain.…”

Section: Introductionmentioning

confidence: 99%

Hybrid Decision Model for Evaluating Blockchain Business Strategy: A Bank’s Perspective

2021

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Banks attempt to invest in emerging financial technology (FinTech), such as blockchain, to enhance competitiveness. There is a great deal of literature on the technical and legal aspects of blockchain. However, there is little specific guidance on how banks can apply a holistic model to evaluate the blockchain-based business. This study proposes a hybrid decision model with confidence-weighted fuzzy assessments to address this valuable research topic. Supported by a group of seasoned experts, five major blockchain-based business models are evaluated for a domestic bank in Taiwan. The key findings contribute to understanding the importance of the involved factors and identifying the ideal business strategy for the bank. The result suggests that the most crucial dimension is policies and regulations, not the technical capability of banks.

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Blockchain, business and the fourth industrial revolution: Whence, whither, wherefore and how?

Cited by 130 publications

References 96 publications

Systematic Literature Review on Application of Blockchain Technology in E-Finance and Financial Services

Systematic Literature Review on Application of Blockchain Technology in E-Finance and Financial Services

Cryptocurrency Portfolio Selection—A Multicriteria Approach

Hybrid Decision Model for Evaluating Blockchain Business Strategy: A Bank’s Perspective

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