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Opportunities and Challenges of Blockchain Technology for Negotiation Support Systems

Author

Listed:
  • Josepha Witt

    (University of Hohenheim)

  • Mareike Schoop

    (University of Hohenheim)

  • Konstantin Knaus

    (University of Hohenheim)

Abstract

Blockchain Technology (BCT) is the backbone of the next generation of the internet and thus affects how electronic business (e-business) is conducted. While the usage of BCT for the initiation and transaction phases in e-business has been studied, the negotiation aspect has not been considered in a comprehensive manner. The current literature on the utilisation of BCT in electronic negotiations (e-negotiations) primarily focuses on autonomous agents and lacks research on the support of e-negotiations conducted by human negotiators using negotiation support systems (NSSs). This results in the issue that the consequences of a transition to Web3.0-based NSSs are unclear, while other areas of e-business already apply Web3.0 technologies. We address this lack of knowledge following a design-oriented approach in three steps exploring the opportunities and challenges of using BCT for e-negotiations via NSSs. Firstly, the well-established negotiation support system Negoisst is extended by BCT features resulting in the development of a Web3.0-based NSS called NegoisstBCT to demonstrate the technical feasibility of this approach. Secondly, the potential opportunities and challenges of a Blockchain-based NSS are analysed referring to its technical architecture. Thirdly, a generalised view of the application of Web3.0-based NSSs in different settings is taken, discussing future research on BCT in e-negotiations. The present research thus fosters the application of Blockchain-based NSSs in e-negotiations and of NSSs in BCT application areas.

Suggested Citation

  • Josepha Witt & Mareike Schoop & Konstantin Knaus, 2025. "Opportunities and Challenges of Blockchain Technology for Negotiation Support Systems," Group Decision and Negotiation, Springer, vol. 34(2), pages 373-403, April.
    • Handle: RePEc:spr:grdene:v:34:y:2025:i:2:d:10.1007_s10726-024-09916-7
    DOI: 10.1007/s10726-024-09916-7
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