Exploring the Sustainability of the Intermediary Role in Blockchain

Abstract

Traditional business models involve cost, market development, distribution channels, business partnerships, and supply chain management. The development of the digital economy and digital network technology has engendered a shift away from the traditional model of operation. Intermediaries have long played an essential role in promoting the benefits of economic activities, but new technology is increasingly replacing intermediaries in their roles of connecting players, such as, involving, committing, and mobilizing players. Potential conflicts of interest must therefore be further resolved, avoided, or mitigated. Blockchain technology, as a tool for keeping immutable and digital records, can address increasingly complex issues in global value chains to pursue sustainable development. It attempts to realize the trust mechanism and has been redefining the function of intermediaries. This study used a multiple-case study approach to examine how blockchain technology affects intermediate functionality. We evaluated the industry’s use of blockchains to assess how the processes were reshaped and how the intermediary roles were refined. On the basis of the findings, we propose three potential changes for the roles of intermediaries to improve operational efficiency.

Technical Sustainability of Cloud-Based Blockchain Integrated with Machine Learning for Supply Chain Management

“…The well-being of a society is predicated on some elements like fairness, ethics, human rights, and diversity acceptance. Some previous studies (e.g., [26][27][28][29][30]) examined how blockchain helps to maintain social sustainability. For example, the recent case studies by Tseng and Shang [55] indicated that the blockchain's features of security, immutability, resiliency, auditability, and permissibility render trust and antitampering among the blockchain users.…”

“…Wang, Jie and Abareshi [80] illustrated how blockchain enables transparency as any transaction updates will be propagated to the parties (e.g., delivery company, manufactory, and stock management department) in the blockchain network. Once the transactions are approved by all the involved parties in the blockchain network, the transaction records stored at all the parties are immutable, facilitating the verification processes among the parties for auditing [29], achieving cost efficiency by eliminating unnecessary intermediaries and so reducing transaction costs [29], and enabling traceability of transactions [11,81,82]. The case study in Park and Li [11] demonstrated how Wal-Mart has achieved traceability using blockchain technology and improved the process of tracking the food delivery from a supplier to a consumer.…”

“…The significance of the research presented in this paper is twofold. First, as shown in the reported studies about the sustainability issues of adopting blockchains for supply chains reviewed in this paper and by other researchers (e.g., [16,20]), many previous studies (e.g., [21][22][23][24][25][26][27][28][29][30]) focused on how blockchain technology can be applied to improve environmental, economic, and social sustainability for supply chain sustainability, but little research explored technical sustainability. Technical sustainability refers to the longterm technical administration, maintenance, development, and support of an innovative technology in order for its continuation, advancement (e.g., increased efficiency [31]) and resilience (e.g., resilient supply chains [32]).…”

Digital Transformation in the Context of the European Union and the Use of Digital Technologies as a Tool for Business Sustainability

“…The dimensions are interrelated and are defined according to Wut et al as follows: environmental sustainability (environmental) is defined as "the continuous preservation of the ecosystem and its functions; economic sustainability means the lasting ability of the economic system to meet all human needs and social sustainability promotes the well-being of all people; such as access to food, medicine, education and recreation [14]. Overall, sustainability aims to protect our natural environment and human health, while promoting the balance of ecosystems and innovation, and economic behavior must be improved in the interests of human and environmental sustainability; for this purpose, technological innovation is a support tool [15]. Wut et al also defines digital sustainability, which in the narrower sense is the sustainable use of digital resources (data and computer files, source codes and technologies) -the ability of a digital system to be constantly maintained, resp.…”

Cloud-based Energy Efficient and Secure Service Provisioning System for IoT using Blockchain

“…Blockchain-based cloud server architecture sells their extra storage capacity to renters, and they made payments through blockchain with proper security and trust. The world economic forum's survey predicted that by 2027 world GDP might be store 10% on blockchain infrastructure (C. Te Tseng & Shang, 2021). Due to blockchain infrastructure, secure service provisioning and safe edge computing devices are possible for end-users.…”