Opportunities and challenges of blockchain for multi-sided platforms

David Bendig () and Maximilian Charlet ()
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David Bendig: University, of Muenster
Maximilian Charlet: University, of Muenster

Electronic Markets, 2025, vol. 35, issue 1, No 25, 26 pages

Abstract: Abstract Blockchain appears promising in meeting the challenges of digital multi-sided platforms by limiting the power of centralized intermediaries. Research has addressed individual aspects of blockchain, including decentralized decision-making, trust mechanisms, and incentivization measures. A comprehensive overview of blockchain's concrete opportunities and challenges for multi-sided platforms can help research work toward a more holistic view. We aim to provide current knowledge on these nascent developments by performing a developmental literature review. We find that platforms can modularly adopt different technological and governance-related blockchain features. We develop a conceptual framework of eighteen opportunities and challenges of blockchain for multi-sided platforms. Last, we highlight mutual and sometimes contrary effects between these opportunities and challenges.

Keywords: Blockchain; Blockchain platform; Decentralized governance; Multi-sided platform; Network effects; Platform governance (search for similar items in EconPapers)
JEL-codes: M15 (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1007/s12525-025-00765-z

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