IDEAS home Printed from https://ideas.repec.org/a/eee/teinso/v67y2021ics0160791x21001846.html
   My bibliography  Save this article

Technology convergence assessment: Case of blockchain within the IR 4.0 platform

Author

Listed:
  • Chand Bhatt, Priyanka
  • Kumar, Vimal
  • Lu, Tzu-Chuen
  • Daim, Tugrul

Abstract

Technological evolutions are leveraged by organizations to assess and formulate their strategic goals for achieving market dominance. Disruptive technologies have challenged organizations to address and transform their technological infrastructure and operational processes anew based on the market dynamics. Blockchain is considered as the disruptive technology of the decade, which has led incumbents to reassess their business models. Various applications of Blockchain have been explored by previous researchers. However, fourth industrial revolution (IR 4.0) technologies have also paved way towards the disruptive technological landscape. The purpose of this research is to identify the convergence across Blockchain and IR 4.0 technologies. This research conducts the bibliometric analysis approach, including performance analysis and network analysis to identify the research trends and themes for the convergence of select technologies. The results indicate four major thematic clusters for the convergence trends with basic, established, niche, and emerging technologies. Furthermore, the citation analysis reveals four clusters based on basic Blockchain technology domain, Blockchain and IR 4.0 technology domains, supply chain management (SCM), and healthcare applications of the convergence of select technologies. This article provides a novel approach by identifying the bibliometric trends across the concept of technological convergence of Blockchain and IR 4.0 technologies.

Suggested Citation

  • Chand Bhatt, Priyanka & Kumar, Vimal & Lu, Tzu-Chuen & Daim, Tugrul, 2021. "Technology convergence assessment: Case of blockchain within the IR 4.0 platform," Technology in Society, Elsevier, vol. 67(C).
    • Handle: RePEc:eee:teinso:v:67:y:2021:i:c:s0160791x21001846
    DOI: 10.1016/j.techsoc.2021.101709
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0160791X21001846
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.techsoc.2021.101709?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Sara Saberi & Mahtab Kouhizadeh & Joseph Sarkis & Lejia Shen, 2019. "Blockchain technology and its relationships to sustainable supply chain management," International Journal of Production Research, Taylor & Francis Journals, vol. 57(7), pages 2117-2135, April.
    2. Grimaldi, Michele & Cricelli, Livio & Di Giovanni, Martina & Rogo, Francesco, 2015. "The patent portfolio value analysis: A new framework to leverage patent information for strategic technology planning," Technological Forecasting and Social Change, Elsevier, vol. 94(C), pages 286-302.
    3. Balasubramanian, Sreejith & Shukla, Vinaya & Sethi, Jaspreet Singh & Islam, Nazrul & Saloum, Roy, 2021. "A readiness assessment framework for Blockchain adoption: A healthcare case study," Technological Forecasting and Social Change, Elsevier, vol. 165(C).
    4. Sikorski, Janusz J. & Haughton, Joy & Kraft, Markus, 2017. "Blockchain technology in the chemical industry: Machine-to-machine electricity market," Applied Energy, Elsevier, vol. 195(C), pages 234-246.
    5. Daim, Tugrul & Lai, Kuei Kuei & Yalcin, Haydar & Alsoubie, Fayez & Kumar, Vimal, 2020. "Forecasting technological positioning through technology knowledge redundancy: Patent citation analysis of IoT, cybersecurity, and Blockchain," Technological Forecasting and Social Change, Elsevier, vol. 161(C).
    6. Kassen, Maxat, 2021. "Understanding decentralized civic engagement: Focus on peer-to-peer and blockchain-driven perspectives on e-participation," Technology in Society, Elsevier, vol. 66(C).
    7. Shashi, & Centobelli, Piera & Cerchione, Roberto & Singh, Rajwinder, 2019. "The impact of leanness and innovativeness on environmental and financial performance: Insights from Indian SMEs," International Journal of Production Economics, Elsevier, vol. 212(C), pages 111-124.
    8. Mariani, Marcello & Borghi, Matteo, 2019. "Industry 4.0: A bibliometric review of its managerial intellectual structure and potential evolution in the service industries," Technological Forecasting and Social Change, Elsevier, vol. 149(C).
    9. Haydar Yalcin & Tugrul Daim, 2021. "Mining research and invention activity for innovation trends: case of blockchain technology," Scientometrics, Springer;Akadémiai Kiadó, vol. 126(5), pages 3775-3806, May.
    10. Montes, Gabriel Axel & Goertzel, Ben, 2019. "Distributed, decentralized, and democratized artificial intelligence," Technological Forecasting and Social Change, Elsevier, vol. 141(C), pages 354-358.
    11. Carvalho, M.M. & Fleury, André & Lopes, Ana Paula, 2013. "An overview of the literature on technology roadmapping (TRM): Contributions and trends," Technological Forecasting and Social Change, Elsevier, vol. 80(7), pages 1418-1437.
    12. Tandon, Anushree & Kaur, Puneet & Mäntymäki, Matti & Dhir, Amandeep, 2021. "Blockchain applications in management: A bibliometric analysis and literature review," Technological Forecasting and Social Change, Elsevier, vol. 166(C).
    13. Jeeeun Kim & Sungjoo Lee, 2017. "Forecasting and identifying multi-technology convergence based on patent data: the case of IT and BT industries in 2020," Scientometrics, Springer;Akadémiai Kiadó, vol. 111(1), pages 47-65, April.
    14. Albayati, Hayder & Kim, Suk Kyoung & Rho, Jae Jeung, 2020. "Accepting financial transactions using blockchain technology and cryptocurrency: A customer perspective approach," Technology in Society, Elsevier, vol. 62(C).
    15. Lagendijk, Arnoud & Hillebrand, Bas & Kalmar, Eva & van Marion, Ingrid & van der Sanden, Maarten, 2019. "Blockchain innovation and framing in the Netherlands: How a technological object turns into a ‘hyperobject’," Technology in Society, Elsevier, vol. 59(C).
    16. Park, Inchae & Yoon, Byungun, 2018. "Technological opportunity discovery for technological convergence based on the prediction of technology knowledge flow in a citation network," Journal of Informetrics, Elsevier, vol. 12(4), pages 1199-1222.
    17. Sharma, Mahak & Sehrawat, Rajat & Daim, Tugrul & Shaygan, Amir, 2021. "Technology assessment: Enabling Blockchain in hospitality and tourism sectors," Technological Forecasting and Social Change, Elsevier, vol. 169(C).
    18. Mariani, Manuel Sebastian & Medo, Matúš & Lafond, François, 2019. "Early identification of important patents: Design and validation of citation network metrics," Technological Forecasting and Social Change, Elsevier, vol. 146(C), pages 644-654.
    19. Kose, Toshihiro & Sakata, Ichiro, 2019. "Identifying technology convergence in the field of robotics research," Technological Forecasting and Social Change, Elsevier, vol. 146(C), pages 751-766.
    20. Garrard, Robert & Fielke, Simon, 2020. "Blockchain for trustworthy provenances: A case study in the Australian aquaculture industry," Technology in Society, Elsevier, vol. 62(C).
    21. De Filippi, Primavera & Mannan, Morshed & Reijers, Wessel, 2020. "Blockchain as a confidence machine: The problem of trust & challenges of governance," Technology in Society, Elsevier, vol. 62(C).
    22. Pereira, Joana & Tavalaei, M. Mahdi & Ozalp, Hakan, 2019. "Blockchain-based platforms: Decentralized infrastructures and its boundary conditions," Technological Forecasting and Social Change, Elsevier, vol. 146(C), pages 94-102.
    23. Kipper, Liane Mahlmann & Iepsen, Sandra & Dal Forno, Ana Julia & Frozza, Rejane & Furstenau, Leonardo & Agnes, Jéssica & Cossul, Danielli, 2021. "Scientific mapping to identify competencies required by industry 4.0," Technology in Society, Elsevier, vol. 64(C).
    24. Metallo, Concetta & Agrifoglio, Rocco & Schiavone, Francesco & Mueller, Jens, 2018. "Understanding business model in the Internet of Things industry," Technological Forecasting and Social Change, Elsevier, vol. 136(C), pages 298-306.
    25. Serkan Altuntas & Zulfiye Erdogan & Turkay Dereli, 2020. "A clustering-based approach for the evaluation of candidate emerging technologies," Scientometrics, Springer;Akadémiai Kiadó, vol. 124(2), pages 1157-1177, August.
    26. Sony, Michael & Naik, Subhash, 2020. "Industry 4.0 integration with socio-technical systems theory: A systematic review and proposed theoretical model," Technology in Society, Elsevier, vol. 61(C).
    27. Giacomo Marzi & Marina Dabić & Tugrul Daim & Edwin Garces, 2017. "Product and process innovation in manufacturing firms: a 30-year bibliometric analysis," Scientometrics, Springer;Akadémiai Kiadó, vol. 113(2), pages 673-704, November.
    28. N. Viswanadham, 2018. "Performance analysis and design of competitive business models," International Journal of Production Research, Taylor & Francis Journals, vol. 56(1-2), pages 983-999, January.
    29. Zhang, Hao & Daim, Tugrul & Zhang, Yunqiu (Peggy), 2021. "Integrating patent analysis into technology roadmapping: A latent dirichlet allocation based technology assessment and roadmapping in the field of Blockchain," Technological Forecasting and Social Change, Elsevier, vol. 167(C).
    30. Tseng, Fang-Mei & Palma Gil, Eunice Ina N. & Lu, Louis Y.Y., 2021. "Developmental trajectories of blockchain research and its major subfields," Technology in Society, Elsevier, vol. 66(C).
    31. Sarin, Shikhar & Haon, Christophe & Belkhouja, Mustapha & Mas-Tur, Alicia & Roig-Tierno, Norat & Sego, Trina & Porter, Alan & Merigó, José M. & Carley, Stephen, 2020. "Uncovering the knowledge flows and intellectual structures of research in Technological Forecasting and Social Change: A journey through history," Technological Forecasting and Social Change, Elsevier, vol. 160(C).
    32. Brilliantova, Vlada & Thurner, Thomas Wolfgang, 2019. "Blockchain and the future of energy," Technology in Society, Elsevier, vol. 57(C), pages 38-45.
    33. Nicky J. Welton & Howard H. Z. Thom, 2015. "Value of Information," Medical Decision Making, , vol. 35(5), pages 564-566, July.
    34. Fernando, Yudi & Rozuar, Nor Hazwani Mohd & Mergeresa, Fineke, 2021. "The blockchain-enabled technology and carbon performance: Insights from early adopters," Technology in Society, Elsevier, vol. 64(C).
    35. Benzidia, Smail & Makaoui, Naouel & Bentahar, Omar, 2021. "The impact of big data analytics and artificial intelligence on green supply chain process integration and hospital environmental performance," Technological Forecasting and Social Change, Elsevier, vol. 165(C).
    36. Rainer Böhme & Nicolas Christin & Benjamin Edelman & Tyler Moore, 2015. "Bitcoin: Economics, Technology, and Governance," Journal of Economic Perspectives, American Economic Association, vol. 29(2), pages 213-238, Spring.
    37. Heister, Stanton & Yuthas, Kristi, 2020. "The blockchain and how it can influence conceptions of the self," Technology in Society, Elsevier, vol. 60(C).
    38. Liu, Jiajia & Li, Xuerong & Wang, Shouyang, 2020. "What have we learnt from 10 years of fintech research? a scientometric analysis," Technological Forecasting and Social Change, Elsevier, vol. 155(C).
    39. Sahebi, Iman Ghasemian & Masoomi, Behzad & Ghorbani, Shahryar, 2020. "Expert oriented approach for analyzing the blockchain adoption barriers in humanitarian supply chain," Technology in Society, Elsevier, vol. 63(C).
    40. Witold Nowiński & Miklós Kozma, 2017. "How Can Blockchain Technology Disrupt the Existing Business Models?," Entrepreneurial Business and Economics Review, Centre for Strategic and International Entrepreneurship at the Cracow University of Economics., vol. 5(3), pages 173-188.
    41. Gozman, Daniel & Liebenau, Jonathan & Mangan, Jonathan, 2018. "Innovation mechanisms of fintech start-ups: insights from SWIFT Innotribe competition," LSE Research Online Documents on Economics 86495, London School of Economics and Political Science, LSE Library.
    42. Andoni, Merlinda & Robu, Valentin & Flynn, David & Abram, Simone & Geach, Dale & Jenkins, David & McCallum, Peter & Peacock, Andrew, 2019. "Blockchain technology in the energy sector: A systematic review of challenges and opportunities," Renewable and Sustainable Energy Reviews, Elsevier, vol. 100(C), pages 143-174.
    43. Reiman, Arto & Kaivo-oja, Jari & Parviainen, Elina & Takala, Esa-Pekka & Lauraeus, Theresa, 2021. "Human factors and ergonomics in manufacturing in the industry 4.0 context – A scoping review," Technology in Society, Elsevier, vol. 65(C).
    44. Jamie Berryhill & Théo Bourgery & Angela Hanson, 2018. "Blockchains Unchained: Blockchain Technology and its Use in the Public Sector," OECD Working Papers on Public Governance 28, OECD Publishing.
    45. Smaïl Benzidia & Naouel Makaoui & Omar Bentahar, 2021. "The impact of big data analytics and artificial intelligence on green supply chain process integration and hospital environmental performance," Post-Print hal-03028127, HAL.
    46. Goertzel, Ben & Goertzel, Ted & Goertzel, Zarathustra, 2017. "The global brain and the emerging economy of abundance: Mutualism, open collaboration, exchange networks and the automated commons," Technological Forecasting and Social Change, Elsevier, vol. 114(C), pages 65-73.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Lai, Kuei-Kuei & Chen, Yu-Long & Kumar, Vimal & Daim, Tugrul & Verma, Pratima & Kao, Fang-Chen & Liu, Ruirong, 2023. "Mapping technological trajectories and exploring knowledge sources: A case study of E-payment technologies," Technological Forecasting and Social Change, Elsevier, vol. 186(PB).
    2. Alvarez-Meaza, Izaskun & Zarrabeitia-Bilbao, Enara & Rio-Belver, Rosa-María & Garechana-Anacabe, Gaizka, 2021. "Green scheduling to achieve green manufacturing: Pursuing a research agenda by mapping science," Technology in Society, Elsevier, vol. 67(C).
    3. Kumar, Shashank & Raut, Rakesh D. & Agrawal, Nishant & Cheikhrouhou, Naoufel & Sharma, Mahak & Daim, Tugrul, 2022. "Integrated blockchain and internet of things in the food supply chain: Adoption barriers," Technovation, Elsevier, vol. 118(C).
    4. Sun, Bing & Yang, Xueting & Zhong, Shen & Tian, Shengnan & Liang, Tian, 2024. "How do technology convergence and expansibility affect information technology diffusion? Evidence from the internet of things technology in China," Technological Forecasting and Social Change, Elsevier, vol. 203(C).
    5. Setyowati, Milla Sepliana & Utami, Niken Desila & Saragih, Arfah Habib & Hendrawan, Adang, 2023. "Strategic factors in implementing blockchain technology in Indonesia's value-added tax system," Technology in Society, Elsevier, vol. 72(C).
    6. Zhang, Jian & Zhang, Xuanjian & Liu, Wei & Ji, Ming & Mishra, Arunodaya Raj, 2022. "Critical success factors of blockchain technology to implement the sustainable supply chain using an extended decision-making approach," Technological Forecasting and Social Change, Elsevier, vol. 182(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Tseng, Fang-Mei & Palma Gil, Eunice Ina N. & Lu, Louis Y.Y., 2021. "Developmental trajectories of blockchain research and its major subfields," Technology in Society, Elsevier, vol. 66(C).
    2. Garg, Poonam & Gupta, Bhumika & Chauhan, Ajay Kumar & Sivarajah, Uthayasankar & Gupta, Shivam & Modgil, Sachin, 2021. "Measuring the perceived benefits of implementing blockchain technology in the banking sector," Technological Forecasting and Social Change, Elsevier, vol. 163(C).
    3. Kumar, Shashank & Raut, Rakesh D. & Agrawal, Nishant & Cheikhrouhou, Naoufel & Sharma, Mahak & Daim, Tugrul, 2022. "Integrated blockchain and internet of things in the food supply chain: Adoption barriers," Technovation, Elsevier, vol. 118(C).
    4. Orji, Ifeyinwa Juliet & Kusi-Sarpong, Simonov & Huang, Shuangfa & Vazquez-Brust, Diego, 2020. "Evaluating the factors that influence blockchain adoption in the freight logistics industry," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 141(C).
    5. Daim, Tugrul & Lai, Kuei Kuei & Yalcin, Haydar & Alsoubie, Fayez & Kumar, Vimal, 2020. "Forecasting technological positioning through technology knowledge redundancy: Patent citation analysis of IoT, cybersecurity, and Blockchain," Technological Forecasting and Social Change, Elsevier, vol. 161(C).
    6. Ahmad, Raja Wasim & Salah, Khaled & Jayaraman, Raja & Yaqoob, Ibrar & Omar, Mohammed, 2022. "Blockchain in oil and gas industry: Applications, challenges, and future trends," Technology in Society, Elsevier, vol. 68(C).
    7. Teck Ming Tan & Jari Salo, 2023. "Ethical Marketing in the Blockchain-Based Sharing Economy: Theoretical Integration and Guiding Insights," Journal of Business Ethics, Springer, vol. 183(4), pages 1113-1140, April.
    8. Yogesh K. Dwivedi & A. Sharma & Nripendra P. Rana & M. Giannakis & P. Goel & Vincent Dutot, 2023. "Evolution of Artificial Intelligence Research in Technological Forecasting and Social Change: Research Topics, Trends, and Future Directions," Post-Print hal-04292607, HAL.
    9. Perrons, Robert K. & Cosby, Tonya, 2020. "Applying blockchain in the geoenergy domain: The road to interoperability and standards," Applied Energy, Elsevier, vol. 262(C).
    10. Schinckus, Christophe, 2022. "A Nuanced perspective on blockchain technology and healthcare," Technology in Society, Elsevier, vol. 71(C).
    11. Kajikawa, Yuya & Mejia, Cristian & Wu, Mengjia & Zhang, Yi, 2022. "Academic landscape of Technological Forecasting and Social Change through citation network and topic analyses," Technological Forecasting and Social Change, Elsevier, vol. 182(C).
    12. Garza Ramos, Alejandro & Daim, Tugrul & Gaats, Lukas & Hutmacher, Dietmar W. & Hackenberger, David, 2022. "Technology roadmap for the development of a 3D cell culture workstation for a biomedical industry startup," Technological Forecasting and Social Change, Elsevier, vol. 174(C).
    13. Hartman, Paul & Ogden, Jeff & Jackson, Ross, 2020. "Contract duration: Barrier or bridge to successful public-private partnerships?," Technology in Society, Elsevier, vol. 63(C).
    14. Kouhizadeh, Mahtab & Saberi, Sara & Sarkis, Joseph, 2021. "Blockchain technology and the sustainable supply chain: Theoretically exploring adoption barriers," International Journal of Production Economics, Elsevier, vol. 231(C).
    15. Cerchione, Roberto & Centobelli, Piera & Riccio, Emanuela & Abbate, Stefano & Oropallo, Eugenio, 2023. "Blockchain’s coming to hospital to digitalize healthcare services: Designing a distributed electronic health record ecosystem," Technovation, Elsevier, vol. 120(C).
    16. Pandey, Vivekanand & Pant, Millie & Snasel, Vaclav, 2022. "Blockchain technology in food supply chains: Review and bibliometric analysis," Technology in Society, Elsevier, vol. 69(C).
    17. Yadav, Amit Kumar & Shweta, & Kumar, Dinesh, 2023. "Blockchain technology and vaccine supply chain: Exploration and analysis of the adoption barriers in the Indian context," International Journal of Production Economics, Elsevier, vol. 255(C).
    18. Paul, Tripti & Mondal, Sandeep & Islam, Nazrul & Rakshit, Sandip, 2021. "The impact of blockchain technology on the tea supply chain and its sustainable performance," Technological Forecasting and Social Change, Elsevier, vol. 173(C).
    19. Bhatt, Priyanka C. & Lai, Kuei-Kuei & Drave, Vinayak A. & Lu, Tzu-Chuen & Kumar, Vimal, 2023. "Patent analysis based technology innovation assessment with the lens of disruptive innovation theory: A case of blockchain technological trajectories," Technological Forecasting and Social Change, Elsevier, vol. 196(C).
    20. Giuliano Sansone & Flavio Santalucia & Davide Viglialoro & Paolo Landoni, 2023. "Blockchain for social good and stakeholder engagement: Evidence from a case study," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(5), pages 2182-2193, September.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:teinso:v:67:y:2021:i:c:s0160791x21001846. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: https://www.journals.elsevier.com/technology-in-society .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.