Blockchains and the disruption of the sharing economy value chains

Abstract

Against the backdrop of debates and rising public sentiments against “Big Tech,” this paper takes a conceptual approach to explore the possibilities for blockchain technologies to disrupt the governance of the sharing economy value chains. Unlike centralized trust systems employed by multisided digital platforms, blockchains employ a decentralized, open‐source system. Data can be shared, verified, and monitored using a consensus mechanism across multiple nodes. We bring insights and discussions from the extant literature to elucidate two guiding principles of the sharing economy value chains: resource optimization and data monetization. Against this backdrop, we propose a conceptual framework that compares traditional digital platforms' governance mechanisms and value drivers with block‐chained enabled platforms, where resource optimization and data monetization are driven by decentralized platform co‐owners rather than single platform owners. We offer case illustrations to explicate this framework and how it signposts a new, disruptive model for the governance of the collaborative economy, especially in developing countries.

A systematic literature review and bibliometric analysis of research on COVID‐19 in strategy journals

“…Online platforms are key technological innovation elements. But in some cases, their importance seems to be questioned by newer technologies like blockchain (Kolade et al, 2022). Despite the importance of technology, innovation is not limited to this dimension, and some authors try to understand its links with leadership.…”

“…Organizations from the health sector have shown online platforms can be efficient and reliable (Khandelwal et al, 2021), and digital platforms are a strategic element that generates trust from customers in digital businesses (Hosseini Tabaghdehi & Kalatian, 2022). Beyond their specific use during COVID‐19, online platform implementation highlights the importance of the links between the digital dimension and innovation (Denning, 2021) and helps weighing the interest in new and futuristic technology like the blockchain (Kolade et al, 2022).…”

Employment 4.0: The Work of the Future and the Future of Work

“…Instead, it brings human creativity and flexibility back into play in the manufacturing sector, where local producers can create more bespoke, customised products at lower cost-both in terms of production and distribution logistics. Another pertinent example in this regard is the opportunity presented by the emergence of blockchain technologies for "ordinary" users, consumers and micro-entrepreneur to be co-owners, not just users, of multisided digital platforms [72]. Owners of traditional multi-sided platforms, such as Amazon, capture most of their value through monetization of users' data via adverts and transfers to third parties.…”

The sharing economy and collaborative consumption: Strategic issues and global entrepreneurial opportunities

“…Like any research investigation, this paper also carries some limitation. The present work in its current form is somewhat limited in its data coverage and business sectors although the paper uncovers a useful discussion which is timely and relevant when dealing with today’s sharing models, CC patterns, and entrepreneurial areas (see Kolade et al 2022 ; Liu et al 2022 ).…”