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Applying Blockchain Technology: Evidence from Norwegian Companies

Author

Listed:
  • Anne H. Gausdal

    (Department of Maritime Operations, Faculty of Technology, Natural Sciences and Maritime Sciences, University of South-Eastern Norway, Postbox 235, 3603 Kongsberg, Norway)

  • Karen V. Czachorowski

    (Department of Maritime Operations, Faculty of Technology, Natural Sciences and Maritime Sciences, University of South-Eastern Norway, Postbox 235, 3603 Kongsberg, Norway)

  • Marina Z. Solesvik

    (Nord University Business School, Nord University, Universitetsaleen, 8049 Bodø, Norway
    Faculty of Business Administration and Social Sciences, Western Norway University of Applied Sciences, Campus Haugesund, Bjørnsonsgate 45, 5528 Haugesund, Norway)

Abstract

The aim of this study is to develop a theoretical framework for blockchain, operations in particular. Furthermore, we aim to identify the main drivers and barriers of digital innovation and explore the general possibilities of blockchain applications within the maritime industry. A case study approach is applied: the Norwegian offshore industry. Primary data is collected through interviews, while secondary data is collected from industrial and company reports, the Internet, and national and international media reports. We have discovered that cost reduction intentions, the high level of regulation in the maritime industry, and the large amount of data that maritime companies should process, along with the intention to work more effectively, are the main drivers of digital innovation. On the other hand, the high cost of implementation, the bad quality of Internet connections offshore, the old age of decision-makers, the technology-oriented culture, the lack of investment initiatives, the low level of blockchain diffusion through the supply chain, and risk aversion are the main barriers. The results of the qualitative study show that some of the barriers and motives of digital innovation and the introduction to blockchain technology were pointed out by earlier studies. However, we have identified several unique drivers and barriers specific to the industry. Finally, the blockchain process framework is developed.

Suggested Citation

  • Anne H. Gausdal & Karen V. Czachorowski & Marina Z. Solesvik, 2018. "Applying Blockchain Technology: Evidence from Norwegian Companies," Sustainability, MDPI, vol. 10(6), pages 1-16, June.
    • Handle: RePEc:gam:jsusta:v:10:y:2018:i:6:p:1985-:d:152249
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    References listed on IDEAS

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    1. Koc, T. & Bozdag, E., 2017. "Measuring the degree of novelty of innovation based on Porter's value chain approach," European Journal of Operational Research, Elsevier, vol. 257(2), pages 559-567.
    2. Marina Z. Solesvik, 2011. "Interfirm collaboration in the shipbuilding industry: the shipbuilding cycle perspective," International Journal of Business and Systems Research, Inderscience Enterprises Ltd, vol. 5(4), pages 388-405.
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    Cited by:

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    2. Chin, Tachia & Wang, Wannan & Yang, Meng & Duan, Yunlong & Chen, Yantai, 2021. "The moderating effect of managerial discretion on blockchain technology and the firms’ innovation quality: Evidence from Chinese manufacturing firms," International Journal of Production Economics, Elsevier, vol. 240(C).
    3. Yi Wang & Yafei Yang & Zhaoxiang Qin & Yefei Yang & Jun Li, 2023. "A Literature Review on the Application of Digital Technology in Achieving Green Supply Chain Management," Sustainability, MDPI, vol. 15(11), pages 1-18, May.
    4. Papathanasiou, Angeliki & Cole, Rosanna & Murray, Philip, 2020. "The (non-)application of blockchain technology in the Greek shipping industry," European Management Journal, Elsevier, vol. 38(6), pages 927-938.
    5. Remigiusz Iwańkowicz & Radosław Rutkowski, 2023. "Digital Twin of Shipbuilding Process in Shipyard 4.0," Sustainability, MDPI, vol. 15(12), pages 1-27, June.
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    8. Malik Khalfan & Neda Azizi & Omid Haass & Tayyab Maqsood & Istiaq Ahmed, 2022. "Blockchain Technology: Potential Applications for Public Sector E-Procurement and Project Management," Sustainability, MDPI, vol. 14(10), pages 1-21, May.
    9. Qilong Cao & Jinglei Li & Hongru Zhang & Yue Liu & Xun Luo, 2022. "Blockchain and Firm Total Factor Productivity: Evidence from China," Sustainability, MDPI, vol. 14(16), pages 1-15, August.
    10. Shuchih Ernest Chang & Hueimin Louis Luo & YiChian Chen, 2019. "Blockchain-Enabled Trade Finance Innovation: A Potential Paradigm Shift on Using Letter of Credit," Sustainability, MDPI, vol. 12(1), pages 1-16, December.
    11. Huizhu Ju & Qingcheng Zeng & Xiang Chu & Yimeng Li, 2024. "Cooperative investment strategies of ports and shipping companies in blockchain technology," Operational Research, Springer, vol. 24(2), pages 1-33, June.
    12. Magdalena Ramirez-Peña & Francisco J. Abad Fraga & Jorge Salguero & Moises Batista, 2020. "Assessing Sustainability in the Shipbuilding Supply Chain 4.0: A Systematic Review," Sustainability, MDPI, vol. 12(16), pages 1-26, August.
    13. Edvard Tijan & Adrijana Agatić & Marija Jović & Saša Aksentijević, 2019. "Maritime National Single Window—A Prerequisite for Sustainable Seaport Business," Sustainability, MDPI, vol. 11(17), pages 1-21, August.
    14. William Nikolakis & Lijo John & Harish Krishnan, 2018. "How Blockchain Can Shape Sustainable Global Value Chains: An Evidence, Verifiability, and Enforceability (EVE) Framework," Sustainability, MDPI, vol. 10(11), pages 1-16, October.
    15. Vineet Paliwal & Shalini Chandra & Suneel Sharma, 2020. "Blockchain Technology for Sustainable Supply Chain Management: A Systematic Literature Review and a Classification Framework," Sustainability, MDPI, vol. 12(18), pages 1-39, September.
    16. Surucu-Balci, Ebru & Iris, Çağatay & Balci, Gökcay, 2024. "Digital information in maritime supply chains with blockchain and cloud platforms: Supply chain capabilities, barriers, and research opportunities," Technological Forecasting and Social Change, Elsevier, vol. 198(C).
    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. Dutta, Pankaj & Choi, Tsan-Ming & Somani, Surabhi & Butala, Richa, 2020. "Blockchain technology in supply chain operations: Applications, challenges and research opportunities," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 142(C).
    19. Ashish Dwivedi & Dindayal Agrawal & Sanjoy Kumar Paul & Saurabh Pratap, 2023. "Modeling the blockchain readiness challenges for product recovery system," Annals of Operations Research, Springer, vol. 327(1), pages 493-537, August.
    20. Tijan, Edvard & Jović, Marija & Aksentijević, Saša & Pucihar, Andreja, 2021. "Digital transformation in the maritime transport sector," Technological Forecasting and Social Change, Elsevier, vol. 170(C).
    21. Odiegwu, Chinwendu Laurentia & Enyioko, Newman Chintuwa (PhD), 2022. "Influence of Sustainable Shipping on Organizational Effectiveness of Shipping Companies in Port Harcourt, Nigeria," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 6(8), pages 74-92, August.
    22. Marija Jović & Edvard Tijan & Doroteja Vidmar & Andreja Pucihar, 2022. "Factors of Digital Transformation in the Maritime Transport Sector," Sustainability, MDPI, vol. 14(15), pages 1-18, August.
    23. Xue Li & Kum Fai Yuen, 2022. "Autonomous ships: A study of critical success factors," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 24(2), pages 228-254, June.

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