The Transformational Impact of Blockchain
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ItemBlockchain Technology in Supply Chain Management: An Application Perspective( 2019-01-08)Given the hype around the cryptocurrency Bitcoin, blockchain technology (BCT) has also received considerable attention outside the financial sector. Multiple applications of BCT in supply chain management (SCM) are discussed in business practice and there is increasing interest in this topic within the academic community. In this paper, we intend to combine these two perspectives on BCT in SCM to summarize a current state of the art and to derive avenues for further research. For this purpose, a comprehensive framework of use case clusters of BCT in SCM is developed according to the distinctive features of BCT. The framework is used to analyze 53 applications of BCT in SCM which are derived from a systematic literature review and a secondary dataset of blockchain-driven innovations in SCM. We identify five emerging use case clusters of BCT in SCM which clearly extend the scope beyond frequently mentioned applications such as product tracking and tracing.
ItemSkimping on Gas – Reducing Ethereum Transaction Costs in a Blockchain Electricity Market Application( 2019-01-08)In recent years, information systems have not been largely evaluated by their operating costs, but mainly by their strategic benefit and competitive advantage. As blockchain-based decentralized applications become more commonplace, representing a shift towards fully consumption-based distributed computing, a new mode of thinking is required of developers, with meticulous attention to computational resource efficiency. This study improves on a blockchain application designed for conducting microtransactions of electricity in a nanogrid environment. By applying the design science research methodology, we improve the efficiency of the application’s smart contract by 11 %, with further improvement opportunities identified. Despite the results, we find the efficiency remains inadequate for public Ethereum deployment. From the optimization process, we extrapolate a set of general guidelines for optimizing the efficiency of Ethereum smart contracts in any application.
ItemExploring Blockchain Value Creation: The Case of the Car Ecosystem( 2019-01-08)Blockchain is expected to create a variety of new opportunities for businesses. Yet, little is known about how companies can exploit business value from the technology. However, without a clear understanding of how, and corresponding adaption of business practices, the realization of value is doomed to failure. Hence, we contribute to this gap by analyzing and explicating the specificities of value creation from blockchain in the ecosystem of a car. In the course of an exploratory case analysis we conducted interviews and workshops with industry and blockchain experts from five diverse stakeholder groups. In brief, we provide early evidence that (1) blockchain enables value creation through: Distributed Product Innovation, Controlled Customer Intimacy and Shared Operational Efficiency. Further, (2) we derive guidelines and discuss learnings for other businesses aiming to leverage value from blockchain technology.
ItemBPDIMS:A Blockchain-based Personal Data and Identity Management System( 2019-01-08)Recent scandals on the abuse of personal information from social media platforms and numerous user identity data breaches raise concerns about technical, commercial, and ethical aspects of privacy and security of user data. European Union’s new General Data Protection Regulation (GDPR) is one of the largest changes in data privacy regulation and entails several key regulatory measures for both data controllers and data processors to empower and protect EU citizens’ privacy. In this research work, we propose a conceptual design and high-level architecture for a Blockchain-based Personal Data and Identity Management System (BPDIMS), a human-centric and GDPR-compliant personal data and identity management system based on the blockchain technology. We describe how BPDIMS’s architecture utilizes blockchain technology to provide a high-level of security, trust and transparency. We discuss how BPDIM’s human-centric approach with GDPR compliance shifts the control over personal data to the end users and empowers them better.
ItemExploring the Role of Trust in Blockchain Adoption: An Inductive Approach( 2019-01-08)While interest in blockchain technology and applications increases, research studying the role of trust as an element that leads potential users and consumers to adopt and accept the technology remains scarce. This study conducts acceptance research that expands beyond traditional acceptance models and explores the role of trust from the user/consumer perspective. It provides comprehensive insights from the user/consumer angle and a deeper understanding of the role of trust in blockchain adoption. Using an inductive research approach that builds theory from qualitative empirical data, this paper identifies trust as a critical benefit of blockchain technology and applications, encompassing both functional (economic and system-/ process-related) as well as emotional benefits (social and personal). As trust spans across functional and emotional benefit dimensions, this study suggests that trust is a key driver for user/consumer adoption of blockchain technology and applications.