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Blockchain as a cutting-edge technology impacting business: A systematic literature review perspective

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  • Sun, Yi
  • Jiang, Shiqing
  • Jia, Wanjiao
  • Wang, Yu

Abstract

As one of the most disruptive technological innovations, blockchain technology has received extensive attention from academia and industry. Although many scholars have reviewed the existing blockchain research, most of the previous review articles focused on the application of technology or blockchain in specific industries or scenarios, and lacked a comprehensive review of the application of blockchain technology in the business field. Based on a systematic literature review approach and cluster analysis, this study quantitatively analyzed 2830 papers obtained from the Web of Science to fill this gap. By constructing a three-layer research framework, this research enumerates the infrastructure and protocols of blockchain technology in detail, and on this basis develops a three-subjects value creation model. The model highlights that business value can be created from transactions, crypto-economic models, and analytical and automated processes in the interaction of organizations, individuals, and technologies. Different blockchain-based applications solve different kinds of economic problems, including information storage/sharing, consensus generation and governance. This study expands the blockchain literature and deepens our understanding of how blockchain technology affects organizations and individuals in the business world. The newly proposed research framework can inspire practitioners and managers to discover opportunities for business model innovation. This work provides a solid research foundation and practical guidance for academics and practitioners who are interested in blockchain-based business.

Suggested Citation

  • Sun, Yi & Jiang, Shiqing & Jia, Wanjiao & Wang, Yu, 2022. "Blockchain as a cutting-edge technology impacting business: A systematic literature review perspective," Telecommunications Policy, Elsevier, vol. 46(10).
    • Handle: RePEc:eee:telpol:v:46:y:2022:i:10:s0308596122001458
    DOI: 10.1016/j.telpol.2022.102443
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    References listed on IDEAS

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    Cited by:

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    3. Khaled Naser Yousef Magableh & Selvi Kannan & Aladeen Yousef Rashid Hmoud, 2024. "Innovation Business Model: Adoption of Blockchain Technology and Big Data Analytics," Sustainability, MDPI, vol. 16(14), pages 1-25, July.
    4. Akhtar, Shamim & Tian, Hongyun & Alsedrah, Ibrahim Tawfeeq & Anwar, Ahsan & Bashir, Shahid, 2024. "Green mining in China: Fintech's contribution to enhancing innovation performance aimed at sustainable and digital transformation in the mining sector," Resources Policy, Elsevier, vol. 92(C).
    5. Zhen Liu & Yixin Liu & Mohamed Osmani, 2024. "Integration of Smart City Technology and Business Model Innovation," Sustainability, MDPI, vol. 16(12), pages 1-30, June.
    6. Mulligan, Catherine & Morsfield, Suzanne & Cheikosman, Evîn, 2024. "Blockchain for sustainability: A systematic literature review for policy impact," Telecommunications Policy, Elsevier, vol. 48(2).

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