Research on the Collaborative Evolution of Blockchain Industry Ecosystems in Terms of Value Co-Creation

Hui Zhang, Jin-Biao Yi and Qian Wang
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Hui Zhang: School of Management, Hangzhou Dianzi University, Hangzhou 310018, China
Jin-Biao Yi: School of Management, Hangzhou Dianzi University, Hangzhou 310018, China
Qian Wang: School of Management, Hangzhou Dianzi University, Hangzhou 310018, China

Sustainability, 2021, vol. 13, issue 21, 1-17

Abstract: The formation of blockchain industrial ecology can help improve the open and efficient value synergy network, and this paper seeks to clarify the value relationship among industrial units and the trend of synergistic evolution of blockchain industrial ecosystem. Based on value co-creation theory, the blockchain industrial ecosystem synergy evolution process is analyzed, and the composite system synergy model is used to empirically investigate the evolution synergy of China’s blockchain industrial ecosystem from 2015 to 2020. The results show that: although the development level of China’s blockchain industry ecosystem continues to improve, it is still at a low level, and the policy-driven effect is obvious. There is a large disparity in the orderliness level of each subsystem of the blockchain industry ecosystem, and the industrial integration and application implementation are in a good situation, while the blockchain enterprises, located in the value pivot subsystem, are in a relatively tough position, and China’s blockchain industry ecosystem is overall in a state of reconciliation and has not yet formed a synergistic effect. Handling the synergistic relationship between the government, the market and other value-supporting units, and blockchain enterprises is the top priority for further promoting the synergistic evolution of the blockchain industry ecosystem.

Keywords: blockchain; value co-creation; collaborative evolution; industry ecosystem (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
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