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    The prospective value creation potential of blockchain in business models: A Delphi study

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    Publication type
    Journal article with impact factor
    Author
    Schlecht, Laura
    Schneider, Sabrina
    Buchwald, Arne
    Publication Year
    2021
    Journal
    Technological Forecasting & Social Change
    Publication Volume
    166
    Publication Issue
    May
    
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    Abstract
    Blockchain technology is gaining awareness and drawing attention in corporate practice and academia. Both fields expect a fundamental impact of blockchain on business and society. However, since blockchain research within the business model context is still in a nascent stage, more in-depth insights is required of blockchain’s impact on firms’ value creation and value capture. This study builds on a Delphi approach and aims to identify the future value creation potential of blockchain for organizations by 2030. Based on expert interviews, workshop insights, and prior literature, we developed a meaningful set of 36 projections of blockchain implications for business models. Our findings, based on the elements of the PEST framework, predict massive efficiency gains through technological progress and promise complementary offerings through various novel combination possibilities, novel forms of collaboration and business model opportunities, and a dissipation of the significance of blockchain types. The combined use of blockchain solutions with other technologies is likely to serve as the basis for ecosystem developments. Our projected finding is that the internet of value will replace the internet of information by 2030. Thereby, our research contributes to technological forecasting and strategic planning by providing managers clear indications of blockchain developments and action recommendations.
    Keyword
    Blockchain Technology, Delphi, Future Developments, Business Models, Value Creation
    Knowledge Domain/Industry
    Operations & Supply Chain Management
    DOI
    10.1016/j.techfore.2021.120601
    URI
    http://hdl.handle.net/20.500.12127/6625
    ae974a485f413a2113503eed53cd6c53
    10.1016/j.techfore.2021.120601
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