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Global Blockchain Benchmarking Study

Author

Listed:
  • Michel Rauchs

    (University of Cambridge)

  • Garrick Hileman

    (London School of Economics)

Abstract

This study provides an empirical overview of the current state of both enterprise and public sector use of blockchain and distributed ledger technology (DLT). The study gathered data from over 200 enterprise DLT start-ups, established corporations, central banks and other public sector institutions, including non-public data obtained through confidential online surveys. The study details the emergence and evolution of the DLT ecosystem, explores its actors and their business models, and examines the current state of the industry in terms of use cases, network/application deployments, and key challenges to broad DLT adoption. The study also explains the concept of ‘blockchain’ and DLT, highlights the different DLT architectures, and dives into governance-related issues. Finally, an entire section is dedicated to investigating how the public sector is approaching DLT.

Suggested Citation

  • Michel Rauchs & Garrick Hileman, 2010. "Global Blockchain Benchmarking Study," Cambridge Centre for Alternative Finance Reports 201009-gbbs, Cambridge Centre for Alternative Finance, Cambridge Judge Business School, University of Cambridge.
    • Handle: RePEc:jbs:altfin:201009-gbbs
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    Citations

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    Cited by:

    1. Bernhard Reinsberg & Centre for Business Research, 2018. "Blockchain Technology and International Relations: Decentralised Solutions To Foster Cooperation In An Anarchic World?," Working Papers wp508, Centre for Business Research, University of Cambridge.
    2. Plinio Limata, 2020. "Blockchain and Institutions (I): trust and (de)centralization," CERBE Working Papers wpC35, CERBE Center for Relationship Banking and Economics.
    3. Emanuele Borgonovo & Stefano Caselli & Alessandra Cillo & Donato Masciandaro, 2018. "Between Cash, Deposit And Bitcoin: Would We Like A Central Bank Digital Currency? Money Demand And Experimental Economics," BAFFI CAREFIN Working Papers 1875, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    4. Guendalina Capece & Nathan Levialdi Ghiron & Francesco Pasquale, 2020. "Blockchain Technology: Redefining Trust for Digital Certificates," Sustainability, MDPI, vol. 12(21), pages 1-12, October.
    5. Serrano-Calle, Silvia & Robles, Tomás & Martín, Diego & Mateos, Raquel, 2018. "Digitalization of Operations Management with Emotional and Intelligence Tools. Blockchain and IoT integration, the last disruption?," 29th European Regional ITS Conference, Trento 2018 184967, International Telecommunications Society (ITS).
    6. Oyebanjo Ogunlela & Ojugbele Olabode & Tengeh Robertson, 2021. "Blockchain technology as a panacea for procurement corruption in digital era," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 10(4), pages 311-320, June.
    7. Niloofar Etemadi & Pieter Van Gelder & Fernanda Strozzi, 2021. "An ISM Modeling of Barriers for Blockchain/Distributed Ledger Technology Adoption in Supply Chains towards Cybersecurity," Sustainability, MDPI, vol. 13(9), pages 1-28, April.
    8. Viktoria Rajnak & Thomas Puschmann, 2021. "The impact of blockchain on business models in banking," Information Systems and e-Business Management, Springer, vol. 19(3), pages 809-861, September.
    9. Bernhard Reinsberg & Centre for Business Research, 2018. "Blockchain Technology and the Governance of Foreign Aid," Working Papers wp505, Centre for Business Research, University of Cambridge.
    10. Martin Cimiterra & Jackie Krafft & Lionel Nesta, 2021. "Blockchain as Schumpeter Mark 1 or Mark 2? An empirical analysis of blockchain job offers in France and Germany [Innovation: mapping the winds of creative destruction]," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 30(6), pages 1388-1402.
    11. Tröster, Bernhard, 2020. "Blockchain technologies for commodity value chains: The solution for more sustainability?," Briefing Papers 27, Austrian Foundation for Development Research (ÖFSE).
    12. Juričić, Vedran & Radošević, Matea & Fuzul, Ena, 2019. "Enhancing the Usefulness of Blockchain Technology in Finance Sector," Proceedings of the ENTRENOVA - ENTerprise REsearch InNOVAtion Conference (2019), Rovinj, Croatia, in: Proceedings of the ENTRENOVA - ENTerprise REsearch InNOVAtion Conference, Rovinj, Croatia, 12-14 September 2019, pages 82-91, IRENET - Society for Advancing Innovation and Research in Economy, Zagreb.
    13. Emanuele Borgonovo & Stefano Caselli & Alessandra Cillo & Donato Masciandaro, 2017. "Beyond Bitcoin And Cash: Do We Like A Central Bank Digital Currency? A Financial And Political Economics Approach," BAFFI CAREFIN Working Papers 1765, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    14. Claudia Antal & Tudor Cioara & Ionut Anghel & Marcel Antal & Ioan Salomie, 2021. "Distributed Ledger Technology Review and Decentralized Applications Development Guidelines," Future Internet, MDPI, vol. 13(3), pages 1-32, February.
    15. Samuel BRÃœLISAUER & Anastasia COSTANTINI & Gianluca PASTORELLI, 2020. "The Digital Social Economy - Managing and Leveraging Platforms and Blockchain for a People-Centred Digital Transformation," CIRIEC Working Papers 2011, CIRIEC - Université de Liège.
    16. Viktoria Rajnak & Thomas Puschmann, 0. "The impact of blockchain on business models in banking," Information Systems and e-Business Management, Springer, vol. 0, pages 1-53.
    17. Serrano-Calle, Silvia & Delarue, Erik, 2018. "Smart Technologies Applied to the Energy Sector. Renewable Energy Expansion Strengthened by Digital Communications and Distributed Ledger Technologies?," 29th European Regional ITS Conference, Trento 2018 184966, International Telecommunications Society (ITS).
    18. Mahtab Kouhizadeh & Joseph Sarkis, 2018. "Blockchain Practices, Potentials, and Perspectives in Greening Supply Chains," Sustainability, MDPI, vol. 10(10), pages 1-16, October.
    19. Mario Arias-Oliva & Jorge de Andrés-Sánchez & Jorge Pelegrín-Borondo, 2021. "Fuzzy Set Qualitative Comparative Analysis of Factors Influencing the Use of Cryptocurrencies in Spanish Households," Mathematics, MDPI, vol. 9(4), pages 1-19, February.
    20. Dulani Jayasuriya Daluwathumullagamage & Alexandra Sims, 2020. "Blockchain-Enabled Corporate Governance and Regulation," IJFS, MDPI, vol. 8(2), pages 1-41, June.

    More about this item

    Keywords

    Alternative finance; Blockchain; Distributed Ledger Technology; DLT;
    All these keywords.

    JEL classification:

    • E40 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - General
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • K12 - Law and Economics - - Basic Areas of Law - - - Contract Law
    • K24 - Law and Economics - - Regulation and Business Law - - - Cyber Law
    • L24 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Contracting Out; Joint Ventures
    • L80 - Industrial Organization - - Industry Studies: Services - - - General
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • M15 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - IT Management
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • Y10 - Miscellaneous Categories - - Data: Tables and Charts - - - Data: Tables and Charts
    • Y20 - Miscellaneous Categories - - Introductions and Prefaces - - - Introductions and Prefaces

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