Assessing the Impact of Blockchain Technology on the International Business Ecosystem and Supply Chain Management: A Resource System Model & Transaction Cost Theory PerspectiveTools Tiku, Lupin (2019) Assessing the Impact of Blockchain Technology on the International Business Ecosystem and Supply Chain Management: A Resource System Model & Transaction Cost Theory Perspective. [Dissertation (University of Nottingham only)]
AbstractBlockchain is a fairly newly developed technology in the digital market space and has been on the hype lately. In the past, businesses had less difficulty trusting each other in situations where an exchange of value was taking place and the reputation and personal qualities of the employees was all that mattered. However, in the present day, with everything gone digital, it has become difficult and risky for businesses to develop the trust factor with who they are dealing with. Validation and authorization have now become essential before conducting business with any partner. With the introduction of blockchain technology, the powerful cryptographic algorithm which runs the blockchain framework enables authentication and ownership for businesses and helps them in a wide variety of ways such as allowing them to store information about important and confidential business activities in a secure and reliable manner. Also, transferring data transparently from business to business is now possible with the added benefit of the data being tamper proof on the network through which it is transferred. With numerous benefits, the technology has a potential to disrupt the ecosystems of businesses and also their supply chain. In this paper, a case study has been performed on the e-commerce retail giant, Amazon. The Resource System Model has been used in order to understand the business ecosystem of Amazon with the introduction of blockchain. Also, Transaction Cost Economics (TCE) theory is utilized in order to realize how blockchain could help lower governance transactional costs in the supply chain. While the technology poses potential challenges due to the nature of not having enough research done on it, the multiple benefits that it brings far outweigh the negatives and makes blockchain a promising potential disruptive technology for all businesses.
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