Blockchain: Technical Feasibility for Assessing Organizational Fit

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

What the History of Linux Says About the Future of Cryptocurrencies

Since Bitcoin’s meteoric rise, hundreds of cryptocurrencies that people now publicly trade have emerged. As such, the question naturally arises: how have cryptocurrencies evolved over time? Drawing on the theory of polycentric information commons and cryptocurrencies’ historical similarities with another popular information commons (namely, Linux), we make predictions regarding what cryptocurrencies may look like in the future. Specifically, we focus on four important historical similarities: 1) support from online hacker communities, 2) pursuit of freedom, 3) criticism about features and use, and 4) proliferation of forks. We then predict that: 1) cryptocurrencies will become more pragmatic rather than ideological, 2) cryptocurrencies will become more diverse in terms of not only the underlying technology but also the intended audience, and 3) the core technology behind cryptocurrencies, called blockchain, will be successfully used beyond cryptocurrencies

Blockchain Application in Information Systems Research

Blockchain is a radical innovation with a core value proposition of shifting trust from institutions towards algorithms. Still, the potential of Blockchains remains vague due to the knowledge gap between computer science and socio-economic activities. Ninety percent of current Blockchain projects did not move from ideas to production-ready prototypes. Researchers and practitioners are searching for the meaningful leveraging of Blockchains for value creation. This dissertation aims to bridge the gap between technical and managerial knowledge of Blockchain that allows successful Blockchain system design and implementation. Therefore, the objective of the project is to identify the scope of Blockchain applications and introduce guidelines to make purposeful decisions of Blockchain implementations. The dissertation project covers four research questions. First, I consolidated knowledge of Blockchain technical configurations through the development of a taxonomy. Second, I considered the design patterns of smart contracts that represent the application logic of Blockchain systems. Third, I offered guidance for transforming initial conceptions of Blockchain ideas into working system prototypes by introducing a Blockchain configuration process model. Fourth, I investigated the common factors of Blockchain decisions to evaluate Blockchain implementations in the form of the framework. I employed a Design Science Research approach to developing four artefacts. The first three artefacts consider technical, application, and organizational aspects of Blockchain. The synergy reflects in the fourth, combinational artefact, which employs the high-level factors of Blockchain decisions. During the project, I have investigated the scientific and business studies, run Blockchain-based applications, conduct interviews, and evaluate the findings on Blockchain projects. The dissertation project contributes to research by bridging knowledge gaps between computer science and socio-economic research on a Blockchain that provides a fruitful ground for future conceptual and empirical studies. For practitioners, the developed artefacts are useful to identify and guide Blockchain projects that facilitate purposeful Blockchain adoption

Blockchain and distributed ledger technologies for supply chain traceability: industry considerations and consumer preferences

Several businesses and academic circles were quick to proclaim blockchain, the distributed ledger technology behind digital currencies, as the solution to a plethora of industry challenges. That was especially true for supply chain management and traceability applications for coffee products, where the technology's features were viewed as a potential solution to longstanding issues of communication inefficiencies, production monitoring, and communicating provenance information to the end consumer. However, despite the excessive amount of investment, research, and experimentation, blockchain growth and adoption have stagnated. This thesis suggests that a plausible reason for the current gridlock the technology finds itself in lies in the absence of primary research that goes beyond its technical implementations and provides clear insights on both how industry professionals understand blockchain and structure their decision-making process to adopt it, as well as on how consumers perceive coffee products that utilise the technology for traceability and provenance purposes. In attempting to fill that knowledge gap, add to the overall understanding of consumer perception of provenance and traceability information and, ultimately, provide companies and organisations with actionable suggestions and insights, this PhD answers two critical questions. One addresses how industry decision-makers perceive fundamental characteristics of blockchain and identify the determining factors for deciding whether they need to adopt and implement the technology in their supply chains. The second examines using blockchain as a traceability certification solution in the coffee industry, how consumers will perceive products that utilise it, and how it compares with existing traceability certifications in the market. The online survey used to explore the views of industry professionals revealed that despite the overall positive attitudes around blockchain and the importance the technology plays in their future business plans, issues around regulatory compliance, operational frameworks and concerns around the role and nature of system participation are hindering broader adoption and implementation. Inevitably, the proposed decision- making flowchart revealed that blockchain was a suitable business solution for less than half of them. At the same time, a questionnaire based on an extended version of the Theory of Planned Behaviour combined with an online experimental study on multiple coffee certifications revealed that consumers positively value the features offered by a blockchain traceability system and found it easy to comprehend the proposed phone app format of presenting provenance information. However, a possible equation effect emerged when blockchain was compared with multiple traceability certifications in a market-like environment, highlighting the importance of consumer awareness around provenance information and the importance of product differentiation. The multifaceted insights provided in this thesis can significantly contribute to helping businesses and organisations formulate their strategies for implementing blockchain in their supply chains while also adopting a user-centred approach of considering consumer preferences and attitudes around the technology

Blockchain and distributed ledger technologies for supply chain traceability: industry considerations and consumer preferences

Several businesses and academic circles were quick to proclaim blockchain, the distributed ledger technology behind digital currencies, as the solution to a plethora of industry challenges. That was especially true for supply chain management and traceability applications for coffee products, where the technology's features were viewed as a potential solution to longstanding issues of communication inefficiencies, production monitoring, and communicating provenance information to the end consumer. However, despite the excessive amount of investment, research, and experimentation, blockchain growth and adoption have stagnated. This thesis suggests that a plausible reason for the current gridlock the technology finds itself in lies in the absence of primary research that goes beyond its technical implementations and provides clear insights on both how industry professionals understand blockchain and structure their decision-making process to adopt it, as well as on how consumers perceive coffee products that utilise the technology for traceability and provenance purposes. In attempting to fill that knowledge gap, add to the overall understanding of consumer perception of provenance and traceability information and, ultimately, provide companies and organisations with actionable suggestions and insights, this PhD answers two critical questions. One addresses how industry decision-makers perceive fundamental characteristics of blockchain and identify the determining factors for deciding whether they need to adopt and implement the technology in their supply chains. The second examines using blockchain as a traceability certification solution in the coffee industry, how consumers will perceive products that utilise it, and how it compares with existing traceability certifications in the market. The online survey used to explore the views of industry professionals revealed that despite the overall positive attitudes around blockchain and the importance the technology plays in their future business plans, issues around regulatory compliance, operational frameworks and concerns around the role and nature of system participation are hindering broader adoption and implementation. Inevitably, the proposed decision- making flowchart revealed that blockchain was a suitable business solution for less than half of them. At the same time, a questionnaire based on an extended version of the Theory of Planned Behaviour combined with an online experimental study on multiple coffee certifications revealed that consumers positively value the features offered by a blockchain traceability system and found it easy to comprehend the proposed phone app format of presenting provenance information. However, a possible equation effect emerged when blockchain was compared with multiple traceability certifications in a market-like environment, highlighting the importance of consumer awareness around provenance information and the importance of product differentiation. The multifaceted insights provided in this thesis can significantly contribute to helping businesses and organisations formulate their strategies for implementing blockchain in their supply chains while also adopting a user-centred approach of considering consumer preferences and attitudes around the technology

Feasibility of Blockchain Applications

Blockchain has received a great deal of attention due to its inherent and perceived security, as well as its ability to bypass traditional intermediaries and associated transaction costs. Blockchain is a decentralized, distributed network of peer to peer, encrypted public and private ledgers, composed of data records in “blocks,†linked into an immutable chain that is automatically verified and managed. With an initial objective of examining a blockchain use case, we considered the latent value of implementing blockchain within a regional health information exchange. Intrigued by our observations of the lukewarm interest in blockchain for managing the exchange of sensitive information, a difficult problem with high practical significance, we were motivated to examine the feasibility of blockchain applications. From an organizational perspective, there are many unresolved issues related to blockchain because we do not yet understand the impact of the unique features of this technology. Therefore, the objective of this research is: to identify the factors that should be considered when assessing the feasibility of blockchain application. \ \ To carry out the research, we examined prior literature and found an extensive number of design documents, opinion pieces (blogs, wikis, and posts), papers, technical reports, conference proceedings, and journal articles. Since the research objective was to examine feasibility, we focused mainly on conference and journal articles. We excluded papers dealing with cryptocurrencies or bit coins, technical papers describing algorithms, or technical developments. We selected all conference proceedings from the AISlibrary with the term “block chain†or “blockchain†within the text. For journal articles, we selected papers using the terms “block chain†or “blockchain†in the Title and Key Terms and the discipline “business†employing a unified search function through an institutional library. In total, 282 papers were retrieved that were related to blockchain. Our review of the literature on systems analysis and design or feasibility studies is not included in this count. \ \ From the above literature review, we found that blockchain inherits traditional feasibility concerns: technical, economic, operational/organizational, schedule, legal, governance, and political. However, several attributes are more salient to blockchain: 1) trust, 2) security and privacy, and 3) complexity. Information systems has already dealt with both: the emergence, adoption, and absorption of new technology; and the development of information systems. By examining the characteristics of blockchain from the perspective of the development and adoption of a new technology, we propose that the feasibility aspect of systems analysis should be modified. This leads to a feasibility framework for blockchain applications, that emphasizes trust, security, privacy, and complexity within existing feasibility concerns. \ \ Future research will focus on first interviewing senior executives, who are considering adopting and implementing blockchain, to understand how their decision-making process will proceed and, therefore, what additional attributes of feasibility need to be considered. Second, a case study will be used to examine the feasibility of a blockchain application. These will be useful for practitioners and academics in assessing the feasibility of blockchain technology prior to its implementation.