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2019, International Conference on Information Systems
Organizations appear to implement blockchain solutions based on fear of missing out instead of a clear understanding of blockchain usefulness. Actually, ninety percent of current blockchain projects do not need a blockchain to meet their requirements. Therefore, we employ a Design Science Research approach to develop a framework for evaluation of blockchain implementations. The framework incorporates common factors of blockchain decisions, including blockchain innovation, blockchain design, inter-organizational integration, and implementation environment. We contribute to the scientific literature by structuring previous research efforts in a four-step framework, which provides a fruitful ground for future conceptual and empirical studies. For practitioners, the framework is useful to identify blockchain projects that facilitate purposeful blockchain adoption.
Adopting new technologies such as the Blockchain technology requires considering the broad range of different factors associated with the same. There is just the emergence of the scholarly literature on the Blockchain technology. The studies mainly focus on the technical aspects of the technology specking on its architecture, way of functioning and such. Not many studies focus on the framework that can be referred to, to adopt the Blockchain technology. In this study a framework for adoption of the Blockchain technology has been proposed considering the different factors such as organizational, business and engineering factors. Each of these factors has been further divided into sub-factors for better understanding. These factors are interlinked to one another and mutually influence each other. This framework that has been proposed can be implemented by the organizations as a point of reference for adopting different applications of Blockchain. The scholars can further expand the study and refine as well as carry out future research in this domain.
SSRN Electronic Journal, 2017
Blockchain is a technology with disruptive, transformative and even revolutionary power [1], but currently its application faces many barriers: technological, governance, organizations and societal [2]. A significant amount of knowledge from both the blockchain and related fields is available, but there is currently no comprehensive application-ready methodology guiding organizations through their blockchain adoption journey. This publication provides a framework based on two fundamental concepts: inclusion of blockchain in current Enterprise Architecture as a requisition of safe and nondisruptive adoption, and coverage of the entire Adoption lifecycle, rooted in dynamic nature of blockchain as an ecosystem technology. Furthermore, this work covers the concepts of Evolutionary and Revolutionary development of blockchainenabled solution.
Journal of Information Technology Management (JITM), 2022
In recent years, Blockchain technology has been recognized as one of the most important new technologies affecting businesses and society, with a very bright future ahead. This technology is known as one of the most critical technologies of industry 4. Given that Blockchain technology is a new concept, before implementing it, the organization must understand it and be prepared to accept it; otherwise, the organization will incur irreparable damages. The main purpose of this study is to provide a framework within which organizations can evaluate their readiness to implement Blockchain technology. For this purpose, after a library study and systematic literature review, this study provided the initial research framework using the meta-synthesis method. Finally, the Lawshe model was applied to validate the proposed framework for the organization's readiness to implement Blockchain technology. Based on the findings, the final established framework included seven main dimensions, including Blockchain-based business strategy, operations of a distributed system, culture, people in Blockchain decentralized network, decentralized governance, technology, and Blockchain-based product traceability. Besides, 37 main criteria affected these dimensions, which can help companies increase the level of Blockchain technology readiness. Finally, this framework was used to measure the readiness of an airline company. According to the results of the analysis, Blockchain-based business strategy, culture, and Blockchain-based product traceability showed a medium level of readiness.
2018
Blockchain technology is a very recent and fast evolving phenomenon with the potential to disrupt various industries. Organizations are thus increasingly looking at blockchain technology and are forming multifunctional teams to evaluate the technology and its impact on their businesses. Researchers and practitioners, however, still lack a technology-driven, systematic approach to understand the potential of blockchain and to develop convincing use cases. We addressed this research gap by applying an action design research approach and situational method engineering to propose a method for the development of blockchain use cases. Following this approach, we iteratively evaluated and further developed the proposed method through application and testing in four distinct industries. We thus derive constructive knowledge at the cutting edge of digital transformation, innovation management, and utilization of emerging technologies. In addition, our research supports practitioners in syste...
The Definitive Guide to Blockchain for Accounting and Business: Understanding the Revolutionary Technology, 2020
Predicting the impact of new technologies is challenging. It is hard know how technology will be harnessed and what technology enabled applications will prosper. However, predicting the future may be impossible; determining the suitability of current technology to various applications gives insight into its potential. Use cases are one of the best tools for determining current technology suitability. Given a business problem, a use case determines if a technology may help solve this problem. Use cases do this by focusing on the functional attributes of a technology rather than the underlying implementation. Blockchains are service-oriented and software-based technologies. Use cases offer a lot for evaluating Blockchains due to many ways they may contribute to business. Most new service-oriented technology enhances processes or services. Occasionally, new service-oriented technology offers novel processes or services. Infrequently, such new technologies create original business models. Creating original business models is one of the best business outcomes technologies offer. Use cases will help us better understand Blockchain applications enhancing business, understanding novel applications, or even driving new business models. This chapter covers selected use cases.
Granthaalayah Publications and Printers, 2024
The research paper examines the factors influencing the adoption of blockchain technology in modern enterprises, focusing on both internal and external determinants. Conducted with a sample of 231 respondents from various industries, the study investigates how organizational culture, leadership support, technological infrastructure, training resources, communication, regulatory standards, competitive pressures, market maturity, partnerships, and customer expectations affect blockchain technology adoption. Using a quantitative methodology, data were collected through structured questionnaires, and hypotheses were tested using statistical techniques, including onesample t-tests. The results reveal that internal factors such as organizational culture and leadership support significantly impact blockchain adoption. Concurrently, external factors like regulatory standards, competitive pressures, and customer demands also play a crucial role. The study highlights that organizations with supportive internal environments and those adept at navigating external pressures are more likely to successfully adopt blockchain technology. The findings suggest that a comprehensive approach, addressing both internal and external factors, is essential for effective blockchain integration. Implications for practice include the need for organizations to foster a supportive internal culture, ensure strong leadership, and stay responsive to external regulatory and market dynamics. Future research directions include exploring the long-term impact of blockchain adoption on organizational performance and investigating the integration of blockchain with other emerging technologies.
Extended Abstracts of the 2023 CHI Conference on Human Factors in Computing Systems (CHI EA ’23), 2023
Upon its arrival, the Ethereum blockchain promised to introduce a new paradigm of Internet-based applications that would revolutionize multiple fields, from finance to IoT to the public sector. Until now, scientific efforts have been primarily focused on theoretical discussions about the implications of the technology and on technical proposals to improve and consolidate the underlying infrastructure, neglecting the experience of people using blockchain-based systems. However, for this technology to permeate the mainstream, blockchain technology should be easily accessible to the general public. This paper reports on evaluations conducted with first-time blockchain users of two Internet-mediated communities using prototype applications built on Ethereum. Results unveil that even users familiar with technology experienced severe difficulties using blockchain-based apps. Also, we saw how blockchain metaphors and transaction-mediated interactions challenge established mental models for modern applications, imposing heavy workloads on users. We conclude the paper by discussing design implications resulting from blockchain's paradigm change.
Sustainability, 2021
In the digital era, almost every system is connected to a digital platform to enhance efficiency. Although life is thus improved, security issues remain important, especially in the healthcare sector. The privacy and security of healthcare records is paramount; data leakage is socially unacceptable. Therefore, technology that protects data but does not compromise efficiency is essential. Blockchain technology has gained increasing attention as it ensures transparency, trust, privacy, and security. However, the critical factors affecting efficiency require further study. Here, we define the critical factors that affect blockchain implementation in the healthcare industry. We extracted such factors from the literature and from experts, then used interpretive structural modeling to define the interrelationships among these factors and classify them according to driving and dependence forces. This identified key drivers of the desired objectives. Regulatory clarity and governance (F2), ...
While blockchain technology is commonly considered potentially disruptive in various regards, there is a lack of understanding where and how blockchain technology is effectively applicable and where it has mentionable practical effects. This issue has given rise to critical voices that judge the technology as over-hyped. Against this backdrop, this study adapts an established research framework to structure the insights of the current body of research on blockchain technology, outline the present research scope as well as disregarded topics, and sketch out multidisciplinary research approaches. The framework differentiates three groups of activities (design and features, measurement and value, management and organization) at four levels of analysis (users and society, intermediaries, platforms, firms and industry). The review shows that research has predominantly focused on technological questions of design and features, while neglecting application, value creation, and governance. In order to foster substantial blockchain research that addresses meaningful questions, this study identifies several avenues for future studies. Given the breadth of open questions, it shows where research can benefit from multidisciplinary collaborations and presents data sources as starting points for empirical investigations.
Technological Forecasting and Social Change, 2021
Blockchain has gained substantial recognition for its ability to induce transformation and innovation in existing business models and frameworks. Consequently, the application of this technology to the management domain and its processes has attracted increasing interest from academia and industry. Although research addressing the use of blockchain in management has gained momentum, this field presents a discontinuous overview of the current scope and boundary of the knowledge thereon. This study addresses this lacuna using bibliometric analyses to synthesize the prior literature. Data from Scopus 586 articles, entailing contributions from 72 countries, 273 journals, 1016 organizations, and 1284 authors, were analyzed. The findings indicate a maturing research focus on blockchain applications in specific managerial sectors, such as finance and supply chain management. However, this field's conceptual evolution is posited to be in its infancy in other sectors, such as for managing luxury goods and counterfeit products. Further, the thematic classification of the extant literature led to the identification of the following four major themes of research: strategy and regulation, enablement and implication, multi-domain deployment, and the inefficiencies of bitcoin. These findings are used to propose directions for further research in this field, such as the need for methodological advancement and theoretical grounding.
Sustainability, 2022
Blockchain technology has the potential to drive innovations across various industries, businesses, and use cases. It is broadly recognized that innovation is a vital source of competitive advantage in a rapidly changing environment. High expectations surround blockchain’s potential for contributing to sustainable economic and social development. However, current blockchain projects still show high failure rates. The associated side effects of such failure rates generate a negative impact on economic and social sustainability performances such as corporate governance, risk management, finance management, human resources and culture management, and competitiveness. This paper assesses adoption models and their risk and success factors. Building on a novel, integrated adoption model to operationalize, measure and manage blockchain-driven business innovation in a sustainable way, we assessed its applicability with an empirical study across 20 industry sectors and 125 business leaders. ...
2021
Purpose: This analysis aims to propose a reference model that could support companies in the implementation of a Blockchain-based initiative in their supply chain. This research identifies the sequential phases for the introduction of a Blockchain solution in an effective way. Furthermore, critical factors to consider in each stage are defined. Methodology: A multiple case study approach was carried out. 22 interviews were conducted with different informants. Among them, companies that have implemented a Blockchain project for their supply chain, software providers, consultancy organisations that provided the Blockchain infrastructure or the support during the project, and a Blockchain expert. Findings: The roadmap is a framework that encompasses stages, critical factors, and guidelines for implementing a Blockchain initiative in the supply chain. The roadmap is made up of four phases: (i) Approach Blockchain technology, (ii) Define Blockchain value for the business, (iii) Develop a...
IEEE Access
Blockchain technology enables users to verify, preserve, and synchronize the contents of a data sheet (a transaction ledger) replicated by multiple users. Blockchain technology has provided considerable advantages and incentives to industries in terms of enabling better services. This review aims to explore the benefits, challenges and functionalities that affect blockchain applications in different sectors. This article is constructed as a systematic literature review study. From 1976 articles, 168 final articles were selected and classified into three main dimensions, that is, benefits, challenges, and functionalities, in four different sectors: government, financial, manufacturing, and healthcare. The results were extracted and compared based on factors in three dimensions, which were categorized as benefits (informational, technological, economic, organizational, and strategic), challenges (technological, organizational, adoption, operational, and environmental and sustainability), and functionalities (point-to-point transmission, data ownership, data protection, and transaction processing). The results of this review study aim to support professionals, practitioners, and stakeholders who wish to implement and manage transformation projects related to blockchain in their sectors. Moreover, helping these possible blockchain users to understand the implied factors associated with blockchain would be beneficial for the decision-making processes of their organizations.
2020
It is a multifaceted technology receiving widespread attention with many companies searching for opportunities while others still scramble to understand what it is and how it can support their business model. The current research evaluates the technical feasibility of blockchain applications in relation to the organization fit within a company. A model composed of environmental and organizational factors as they influence organizational fit dimensions is proposed to create a guide for companies to assess whether blockchain is a suitable solution for their company.
2020
Adopting new technologies such as the Blockchain technology requires considering the broad range of different factors associated with the same. There is just the emergence of the scholarly literature on the Blockchain technology. The studies mainly focus on the technical aspects of the technology specking on its architecture, way of functioning and such. Not many studies focus on the framework that can be referred to, to adopt the Blockchain technology. In this study a framework for adoption of the Blockchain technology has been proposed considering the different factors such as organizational, business and engineering factors. Each of these factors has been further divided into sub-factors for better understanding. These factors are interlinked to one another and mutually influence each other. This framework that has been proposed can be implemented by the organizations as a point of reference for adopting different applications of Blockchain. The scholars can further expand the st...
Systems
Blockchain has completely changed how business is performed today, thus making it one of the most disruptive technologies in recent times. However, it is a challenging task to adopt and implement blockchain technologies in different services and industries. Therefore, this study introduces a framework for investigating critical factors influencing the successful adoption of blockchain technologies in different applications and prioritizes them using the hierarchical Decision-Making Trial and Evaluation Laboratory (DEMATEL) technique. First, it provides fourteen critical success factors with the help of the extant literature and further classifies them into three categories: technological, organizational, and environmental. In addition, a set of sixteen key performance indicators (KPI) of successful blockchain adoption is introduced and classified into five categories: overall performance, system robustness, data robustness, accessibility, and overall cost. Then, the fourteen success...
International Journal of Information Management, 2020
The blockchain is considered to be the potential driver of the digital economy. The Blockchain technology outweighs the challenges associated with the traditional transaction business governed and regulated by the third trusted party. There is a growth in the interest among the researchers, the industry, and the academia to study and leverage the potential of Blockchain. Blockchain provides a decentralized and distributed public ledger for all the participating parties. Though it seems that blockchain is a viable choice and solution for all the centralized governed and regulated transactions (in digital online space), it has potential challenges that need to be resolved; opportunities to be explored, and applications to be studied. This paper utilizes a systematic literature review to study several research endeavors made in the domain of blockchain. To further research on blockchain adoption, the paper theoretically constructs an integrated framework of the blockchain innovation adoption process in an organization considering organizational and user acceptance perspectives. This would facilitate its widespread adoption, thereby achieving sustained leadership solutions. The paper offers 23 propositions to information systems (IS)/information management (IM) scholars with respect to innovation characteristics, organizational characteristics, environmental characteristics, and user acceptance characteristics. Further, the paper explores several areas of future research and directions that can provide deep insights for overcoming challenges and for the adoption of blockchain technology.
This is an exploration of Blockchain technology that is growing in popularity and it seems to be able to disrupt a plethora of industries. A research is being conducted to examine Blockchain's potential to be adopted by enterprises from different sectors as well as the parameters that could affect its adoption. Mostly known as the technology that underpins Bitcoin, this concept raised a significant interest within various markets. Blockchain offers a new approach to valued information management and sharing and it is introduced as a solution against the inefficiencies that affect the industry. Experts, infrastructure providers and banks can now work on this technology and explore its uses. This is a new technology journey with obstacles that will need to be overcome and it can not be clear yet what will eventually arise. Professionals from around the world express their views on the adoption of Blockchain by organisations and how these plan to support its deployment. Thoughts are shared in terms of the required budget and the parameters that can impact its adoption. There is a great interest in Blockchain technology and its revolutionary potential to modernize the world economy and this is only the beginning.
Technological Forecasting and Social Change, 2021
This study aims to measure the perceived business benefits of blockchain technology implementation in the banking sector and establish factors to measure these benefits. Concerns regarding security, values, and standards are essential to banking operations. Data was collected from 291 respondents who are either blockchain consultants, blockchain marketing experts, or CEOs/business heads of banks that are in the process of advising, consulting, or implementing blockchain technology. Confirmatory factor analysis (CFA) was carried out to assess the reliability and validity of the proposed instrument. The results support the proposed instrument and its five constructs. The scale emerging from this study indicates a good degree of reliability, validity and unidimensionality in each of its constructs. Technologies like blockchain are in their initial stages, and recent advances in blockchain technology may impact our findings. The developed instrument could help give decision makers a foundational view to measure the benefits of implementing blockchain technology before they choose to integrate it in their existing system. The scientific and societal significance of the study based on its practical and theoretical applications is presented at the end.
Enterprise Information Systems, 2024
Collaborative Enterprise (CE) comprises of organizations that adopt digital platforms to achieve shared goals. In CE the prospect of Distributed Ledger Technologies (DLT) such as blockchain is reliant on its capability to integrate with other systems to improve organizational operations. But the inability for different blockchains to communicate with one another is an inherent issue as it puts a strain on the mainstream deployment of blockchains in CE. Therefore, this study presents a standardized architecture to support DLT interoperability and intraoperability within CE. A structural review was conducted after which design science research methodology was adopted to validate the architecture.
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