The impact of blockchain technology on business models – a taxonomy and archetypal patterns
Jörg Weking (),
Michael Mandalenakis (),
Andreas Hein (),
Sebastian Hermes (),
Markus Böhm () and
Helmut Krcmar ()
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Jörg Weking: Technical University of Munich
Michael Mandalenakis: Technical University of Munich
Andreas Hein: Technical University of Munich
Sebastian Hermes: Technical University of Munich
Markus Böhm: Technical University of Munich
Electronic Markets, 2020, vol. 30, issue 2, No 9, 285-305
Abstract Blockchain technology enables new ways of organizing economic activities, reduces costs and time associated with intermediaries, and strengthens the trust in an ecosystem of actors. The impact of this seminal technology is reflected by an upcoming research stream and various firms that examine the potential uses of blockchain technology. While there are promising use cases of this new technology, research and practice are still in their infancy about altering existing and creating new business models. We develop a taxonomy of blockchain business models based on 99 blockchain ventures to explore the impact of blockchain technology on business models. As a result, we identify five archetypal patterns, which enhance our understanding of how blockchain technology affects existing and creates new business models. We propose to use these results to discover further patterns fueled by blockchain technology and illustrate how firms can use blockchain technology to innovate their business models.
Keywords: Blockchain; Business model; Design science; Taxonomy; Pattern; Platform (search for similar items in EconPapers)
JEL-codes: O3 (search for similar items in EconPapers)
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