Opportunities and Challenges of Blockchain Technology for Negotiation Support Systems

Josepha Witt (), Mareike Schoop and Konstantin Knaus
Additional contact information
Josepha Witt: University of Hohenheim
Mareike Schoop: University of Hohenheim
Konstantin Knaus: University of Hohenheim

Group Decision and Negotiation, 2025, vol. 34, issue 2, No 6, 373-403

Abstract: Abstract Blockchain Technology (BCT) is the backbone of the next generation of the internet and thus affects how electronic business (e-business) is conducted. While the usage of BCT for the initiation and transaction phases in e-business has been studied, the negotiation aspect has not been considered in a comprehensive manner. The current literature on the utilisation of BCT in electronic negotiations (e-negotiations) primarily focuses on autonomous agents and lacks research on the support of e-negotiations conducted by human negotiators using negotiation support systems (NSSs). This results in the issue that the consequences of a transition to Web3.0-based NSSs are unclear, while other areas of e-business already apply Web3.0 technologies. We address this lack of knowledge following a design-oriented approach in three steps exploring the opportunities and challenges of using BCT for e-negotiations via NSSs. Firstly, the well-established negotiation support system Negoisst is extended by BCT features resulting in the development of a Web3.0-based NSS called NegoisstBCT to demonstrate the technical feasibility of this approach. Secondly, the potential opportunities and challenges of a Blockchain-based NSS are analysed referring to its technical architecture. Thirdly, a generalised view of the application of Web3.0-based NSSs in different settings is taken, discussing future research on BCT in e-negotiations. The present research thus fosters the application of Blockchain-based NSSs in e-negotiations and of NSSs in BCT application areas.

Keywords: Blockchain technology; Web3.0; dApp; Electronic negotiation; Negotiation support system (search for similar items in EconPapers)
Date: 2025
References: Add references at CitEc
Citations:

Downloads: (external link)
http://link.springer.com/10.1007/s10726-024-09916-7 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:grdene:v:34:y:2025:i:2:d:10.1007_s10726-024-09916-7

Ordering information: This journal article can be ordered from
http://www.springer.com/journal/10726/PS2

DOI: 10.1007/s10726-024-09916-7

Access Statistics for this article

Group Decision and Negotiation is currently edited by Gregory E. Kersten

More articles in Group Decision and Negotiation from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().