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Exploring blockchain-based innovations for economic and sustainable development in the global south: A mixed-method approach based on web mining and topic modeling

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  • Böhmecke-Schwafert, Moritz
  • García Moreno, Eduardo

Abstract

Information and Communication Technologies such as blockchain can significantly contribute to achieving the Sustainable Development Goals (SDGs) in the Global South (GS). Grounded in the innovation forecasting literature, this paper explores blockchain-based innovations and research in the context of economic and sustainable development to answer the following research questions: what is the status quo of blockchain innovations and research in the Global South?; and further, how can blockchain innovations contribute to economic and sustainable development? We follow a mixed-method approach based on web mining and topic modeling with unstructured empirical data on blockchain innovators from Crunchbase, their websites, and academic publications to address these research questions. Our results indicate that blockchain innovators already engage in various application areas beyond the financial sector, addressing critical development issues. However, the empirical data on blockchain research and innovations suggests a largely untapped potential in various promising application areas relevant for the SDGs, such as sustainable energy or integrity verification. The major contributions of this paper are an overview and status quo of entrepreneurial innovation activities and research on blockchain technology in the GS, an analysis of these areas in the context of the SDGs, and a lean methodological approach for innovation forecasting.

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  • Böhmecke-Schwafert, Moritz & García Moreno, Eduardo, 2023. "Exploring blockchain-based innovations for economic and sustainable development in the global south: A mixed-method approach based on web mining and topic modeling," Technological Forecasting and Social Change, Elsevier, vol. 191(C).
    • Handle: RePEc:eee:tefoso:v:191:y:2023:i:c:s0040162523001312
    DOI: 10.1016/j.techfore.2023.122446
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    Cited by:

    1. Wang, Jiaxin & Zhao, Mu & Huang, Xiang & Sun, Di & Song, Zilong, 2023. "Guidance or misguidance: Fintech policy and corporate innovation," Finance Research Letters, Elsevier, vol. 58(PD).
    2. Saurabh, Kumar & Rani, Neelam & Upadhyay, Parijat, 2024. "Towards novel blockchain decentralised autonomous organisation (DAO) led corporate governance framework," Technological Forecasting and Social Change, Elsevier, vol. 204(C).
    3. Savelli, Iacopo & Hepburn, Cameron & Morstyn, Thomas, 2024. "A blueprint for energy systems in the era of central bank digital currencies," Technological Forecasting and Social Change, Elsevier, vol. 207(C).

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    More about this item

    Keywords

    Blockchain; Innovation; Global south; Sustainable development goals; ICT; Trust; Topic modeling;
    All these keywords.

    JEL classification:

    • C81 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access
    • C88 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Other Computer Software
    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development

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