How blockchain technologies impact your business model

Morkunas, Vida J.; Paschen, Jeannette; Boon, Edward

doi:10.1016/j.bushor.2019.01.009

Cited by 508 publications

(358 citation statements)

References 8 publications

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“…Swan presents a list of potential blockchain applications [37], divided into three categories: The first area is related to currencies, payments, and invoices; the second regards smart contracts in financial and non-financial markets; and the third pertains to social applications, such as voting and healthcare identification. Regarding the second type of application, smart contracts are defined by Morkunas et al as a self-executing code on a blockchain that automatically implements the terms of an agreement between parties [2]. When operating with smart contracts, a problem related to the insertion of data on the blockchain arises.…”

Section: Theoretical Backgroundmentioning

confidence: 99%

“…As recently shown by the Politecnico di Milano Observatory [1], at an international level, more than 580 projects involving blockchain as the main subject can be observed, with an increment of 76% since 2017, although the number of real applications barely exceeds 10%. Many blockchain applications involve financial technology, whereas we are assisting with a slight but progressive increase in non-financial projects such as logistics, production, and traceability [2,3]. Recent literature has shown that blockchain is being tested [4][5][6], mainly in the Chinese and US markets, to track product information and to improve product traceability.…”

Section: Introductionmentioning

confidence: 99%

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Overcoming the Blockchain Oracle Problem in the Traceability of Non-Fungible Products

2020

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Blockchain implications within the sustainability domain are rapidly arousing the interest of researchers and institutions. However, despite the avalanche of articles, papers, and recently published books, innovation in the blockchain domain is still heavily influenced by light literature, such as news, articles, opinion posts, and white papers. Lacking a homogeneous literature background, case studies often fall into storytelling, providing mere descriptions of the facts according to the writers' impressions and opinions. We therefore investigate blockchain adoption for sustainable purposes through a case study while remaining firmly grounded in three main theoretical literature streams: knowledge management, knowledge infrastructure, and trust. Since blockchain interaction with the real world is managed by oracles, addressing the oracle problem is essential in order to evaluate the effectiveness of blockchain for sustainability issues. However, to the best of the authors' knowledge, no other paper has efficiently addressed this subject or even mentioned it. Recognizing its scarce consideration in the literature, the oracle problem will be analyzed in both theoretical and practical terms, thereby providing a way to solve the issues related to non-fungible products in the supply chain. Choice over the selected case study was made in light of the divergence in motives for the adoption of blockchain (economic over social), which makes the results more inferable at a broader scale and offers an insight into how sustainable innovations can also be economically viable.

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Section: Theoretical Backgroundmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Overcoming the Blockchain Oracle Problem in the Traceability of Non-Fungible Products

2020

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“…The focus of this literature is mostly on the underlying features of blockchain (e.g., Iansiti and Lakhani, 2017), its implementation consequences in specific industries (e.g., food, electronics, etc.) and outlines some of its implications for organizations and new business models that could emerge (e.g., Casino et al, 2018;Morkunas et al, 2019). Other work on blockchain (articles, conference papers, books, etc.)…”

Section: Insert Figurementioning

confidence: 99%

“…Pertinent work acknowledges that emerging technologies (e.g., augmented reality) and new forms of online interactions (e.g., online communities) have made consumers better informed about their purchases, more demanding with regards to their data privacy and more empowered to voice the experience they want with brands (Kim and Johnson, 2016;Morkunas et al, 2019). Blockchain is likely to enable consumers to gain more from their relationship with brands, creating an even more competitive arena for firms (Lee and Pilkington, 2017).…”

Section: More Benefits For Consumers From Their Relationship With Brandsmentioning

confidence: 99%

“…Although existing work in marketing and branding journals around the potential challenges and opportunities from blockchain adoption remains scarce (Hughes et al, 2019;Morkunas et al, 2019;Montecchi et al, 2019), blockchain-based apps and platforms have become increasingly popular over the past few years in various industries from airlines to retailers and financial service providers (Kokina et al, 2017;Casino et al, 2018).…”

Section: Introductionmentioning

confidence: 99%

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Exploring the implications of blockchain technology for brand–consumer relationships: a future research agenda

Boukis

2019

JPBM

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Purpose The purpose of this conceptual paper is to delve into the implications of blockchain technology adoption for brands and consumers. Drawing on the existing branding literature and real-life applications of blockchain, the challenges, risks and opportunities from blockchain adoption for four important areas of the branding literature are canvassed (i.e. brand positioning and corporate brand image, consumer–brand relationships, online brand communication and consumers’ trust in the brand). Also, a future-oriented discussion is provided that highlights some important avenues for researchers in the field. Design/methodology/approach This conceptual paper sheds light on the potential implications of blockchain technology for brand–consumer relationships. To do so, an analytical review of the blockchain literature is conducted, the nature of blockchain technology is presented and its unique features and functions for brand–consumer interactions are discussed. Findings This paper ignites an exploratory discussion around how blockchain applications and platforms can affect consumer–brand relationships, drawing on a number of real-life examples of blockchain adoption. This discussion sheds light on how blockchain features can impact on various areas of interest for strategic brand management, such as the adoption of digital currencies, brand storytelling, use of blockchain-enabled loyalty programmes, role of intermediaries in online advertising, counterfeit consumption, brand transparency and trust for brands in online marketplaces, amongst others. Originality/value This is one of the first conceptual efforts in the branding literature that draws on the scarce existing knowledge around blockchain adoption and discusses the potential implications of blockchain technology for brands and consumers whilst also providing directions for future research.

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Blockchain technology and environmental efficiency: Evidence from US‐listed firms

et al. 2022

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This study examines the relationship between the adoption of blockchain technology and environmental efficiency by using a sample of US firms over the 2015-2019 period. Our results indicate that the adoption of blockchain technology is positively and significantly associated with environmental efficiency, suggesting that blockchain improves environmental sustainability. In further analyses, we determine that the relationship between blockchain and environmental efficiency is more pronounced for firms in financial and technological industries than for those in other industries.Our findings are also robust to other methods that control for endogeneity, including difference in difference regressions and propensity score matching. Overall, we provide empirical evidence to incentivize business leaders and policymakers to adopt innovative technologies, such as blockchain.

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How blockchain technologies impact your business model

Cited by 508 publications

References 8 publications

Overcoming the Blockchain Oracle Problem in the Traceability of Non-Fungible Products

Overcoming the Blockchain Oracle Problem in the Traceability of Non-Fungible Products

Exploring the implications of blockchain technology for brand–consumer relationships: a future research agenda

Blockchain technology and environmental efficiency: Evidence from US‐listed firms

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