Applying Blockchain Technology: Evidence from Norwegian Companies

Anne H. Gausdal, Karen V. Czachorowski and Marina Z. Solesvik
Additional contact information
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

Sustainability, 2018, vol. 10, issue 6, 1-16

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.

Keywords: blockchain technology; innovation; maritime industry; supply chain; technology applied to maritime industry (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (24)

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