Potential and limits of Blockchain technology for networked businesses

Uncovering the identity of Electronic Markets research through text mining techniques

“…Earlier papers typically discuss risks and trustworthiness in online business (e.g., Gao & Liu, 2014;Keating et al, 2009;Munnukka & Järvi, 2014;Nicolaou, 2011;Sha, 2009) and the more recent ones thematize adoption of blockchain technologies and their impact on trust and organization and business (e.g., Albrecht et al, 2020;Derks et al, 2018;Kollmann et al, 2020;Marella et al, 2020;Ostern, 2020;Weking et al, 2020a, b). In addition to the introduction of technologies (e.g., Ostern, 2020) and Bitcoin cryptocurrency (e.g., Derks et al, 2018), aspects of management and the attainment of competitive advantages (e.g., Shao et al, 2012) and network effects play an important role (e.g., Bons et al, 2020), as do the associated introduction and implementation costs. It is also worth mentioning that in some articles, the cultural aspect and the incentives for use in a business setting are addressed and credited with the implementation of the technology.…”

The transparency challenge of blockchain in organizations

“…IS researchers have early also investigated the opportunities of adopting blockchain technology beyond the financial sector and expected substantial improvements, e.g., in terms of data immutability, interoperability, and traceability (Beck et al, 2018;Ferdous et al, 2019). Moreover, the opportunity to enforce rules between business parties on a blockchain can facilitate a new level of trust and, to some extent, make blockchains a substitute for intermediaries (Alt, 2020;Beck et al, 2017;Bons et al, 2020). Researchers and practitioners have explored blockchains in numerous publications and prototypes within, among others, supply chain management (Gonczol et al, 2020; and the energy, health, mobility, and public sector (Andoni et al, 2019;Fridgen et al, 2019;Shi et al, 2020;Warkentin & Orgeron, 2020).…”

“…The enforcement of business logic through smart contracts technically prevents misconduct by individual participants and creates trust in the correct handling of processes (Bons et al, 2020). For instance, the Ethereum blockchain can even be considered a platform of platforms, specifically for financial applications (Buterin, 2013) but intended for more general purposes.…”

“…Blockchain-based information systems for use in organizations can also be seen as an alternative to a trusted third party -for instance, if stakeholders cannot agree on a potential platform owner because they fear its corresponding market power. Blockchains and smart contracts hence provide the opportunity to implement a variety of applications that involve multiple organizations on the same neutral platform with strong guarantees on the correctness and non-repudiability of transactions (Bons et al, 2020;Fridgen et al, 2019). Yet, it is unlikely that blockchains represent a purely technical substitute for all services established trusted intermediaries provide today (Fridgen et al, 2021).…”

Initial coin offerings and the cryptocurrency hype - the moderating role of exogenous and endogenous signals

“…One of those innovations is Bitcoin (BTC), a so-called cryptocurrency, which has its origin in the year 2008 (Mai et al 2018;Ostern 2020). Bitcoin is based on blockchain technology, which is believed to have the potential to revolutionize the area of existing payment methods and shake up the financial industry (Alt 2020;Böhme et al 2015;Bons et al 2020). In less than a decade, the market capitalization of all bitcoins in the world exceeded 100 billion US dollars (USD) (Sun Yin et al 2019;Wallbach et al 2020).…”