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Creating value through blockchain technology: A Delphi study
Schlecht, Laura Schneider, Sabrina Buchwald, Arne
Schlecht, Laura
Schneider, Sabrina
Buchwald, Arne
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Conference Proceeding
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2020
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ECIS 2020 Proceedings
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Abstract
The blockchain technology has gained increasing attention and awareness in both corporate practice and academia. Both sides expect the technology’s impact on business and society to be fundamental. However, more in-depth insights into how blockchain will disrupt the way businesses create and cap-ture value are limited. In response to the prevalent uncertainty about the future developments caused by blockchain, this study aims at identifying the prospective value creation potentials for organiza-tions. This forecasting study builds on a Delphi approach to derive reliable predictions about block-chain’s future developments by 2030 in the business model context. We specifically discuss how block-chain is likely to influence value creation in the business model context. Based on expert interviews, workshop insights, and prior literature, we developed a meaningful set of 36 projections on the impli-cations of the blockchain’s future developments. Our findings predict that blockchain will mainly cre-ate value by massively increasing efficiency gains, which forms the basis for making entirely new business models feasible. We complement this finding by revealing that blockchain technology will create the most value, not in isolation, but in combination with other technologies. Our research re-duces some of the environmental uncertainty managers face and identify relevant avenues for future research.
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Blockchain Technology, Delphi, Future Developments, Business Models, Value Creation