Hybrid Decision Model for Evaluating Blockchain Business Strategy: A Bank’s Perspective

Nien-Ping Chen, Kao-Yi Shen and Chiung-Ju Liang
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Nien-Ping Chen: Graduate Institute of Finance, National Taiwan University of Science and Technology, Taipei 10633, Taiwan
Kao-Yi Shen: Department of Banking & Finance, Chinese Culture University, Taipei 11114, Taiwan
Chiung-Ju Liang: Graduate Institute of Finance, National Taiwan University of Science and Technology, Taipei 10633, Taiwan

Sustainability, 2021, vol. 13, issue 11, 1-22

Abstract: Banks attempt to invest in emerging financial technology (FinTech), such as blockchain, to enhance competitiveness. There is a great deal of literature on the technical and legal aspects of blockchain. However, there is little specific guidance on how banks can apply a holistic model to evaluate the blockchain-based business. This study proposes a hybrid decision model with confidence-weighted fuzzy assessments to address this valuable research topic. Supported by a group of seasoned experts, five major blockchain-based business models are evaluated for a domestic bank in Taiwan. The key findings contribute to understanding the importance of the involved factors and identifying the ideal business strategy for the bank. The result suggests that the most crucial dimension is policies and regulations, not the technical capability of banks.

Keywords: blockchain; banking; financial technology (FinTech); multiple criteria decision-making (MCDM); best-worst-method (BWM); modified VIKOR; fuzzy set theory (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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