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A TISM modeling of critical success factors of blockchain based cloud services

Author

Listed:
  • Sanjay Prasad
  • Ravi Shankar
  • Rachita Gupta
  • Sreejit Roy

Abstract

Purpose - Over last few years, a major innovation known as blockchain technology has emerged as potentially one of the most disruptive technology of recent times. The purpose of this paper is to identify and analyze various critical success factors (CSFs) that can facilitate success of blockchain-based cloud services. Further, this paper aims to analyze and understand mutual interactions among these CSFs. Design/methodology/approach - In this paper, 19 CSFs have been identified through literature review and expert opinions. The hierarchical framework developed using total interpretive structural modeling has revealed the inter-dependencies among these CSFs. The methodology employed in this study provides a mechanism to conduct an exploratory study by identifying the factors and analyzing their interactions through the development of a hierarchical framework. This research further categorizes CSFs into multiple clusters based on their driving power and dependence power. Findings - This paper has identified 19 CSFs, namely, user engagement, industry collaboration, rich ecosystem, blockchain technology standardization, regulatory clarity, cost efficiency, energy efficiency (wasted resources), handling blockchain bloat, miner incentives, business case alignment to blockchain capability, sidechains development, blockchain talent pool availability, leadership readiness for a decentralized consensus based technology, technology investment and maturity, trust on blockchain networks, integration with other cloud services, robust and mature smart contracts platform, blockchain security and user control on data (privacy). Further, driver and dependent variables have been identified. Research limitations/implications - Future research can discover and detail the sub-factors behind the 19 CSFs identified in this paper. Additionally, more work can be done to extend the current structural model for blockchain-based services to a more functional form. Practical implications - It provides a comprehensive list of CSFs that are relevant for development of blockchain-based cloud services. This will help industry leaders to strategically focus on the main drivers that will ensure that businesses get maximum benefit of this disruptive technology. Originality/value - This study makes a significant contribution in the literature of blockchain-based cloud services, which captures the perspective of different stakeholders. This study is one of the first (if not the first) systematic research on adoption of blockchain-based services. It creates the foundation to carry out further research in this area.

Suggested Citation

  • Sanjay Prasad & Ravi Shankar & Rachita Gupta & Sreejit Roy, 2018. "A TISM modeling of critical success factors of blockchain based cloud services," Journal of Advances in Management Research, Emerald Group Publishing Limited, vol. 15(4), pages 434-456, September.
    • Handle: RePEc:eme:jamrpp:jamr-03-2018-0027
    DOI: 10.1108/JAMR-03-2018-0027
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    Citations

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    Cited by:

    1. Ansah, Barikisa Owusu & Voss, Winrich & Asiama, Kwabena Obeng & Wuni, Ibrahim Yahaya, 2023. "A systematic review of the institutional success factors for blockchain-based land administration," Land Use Policy, Elsevier, vol. 125(C).
    2. Lee, Jei Young, 2019. "A decentralized token economy: How blockchain and cryptocurrency can revolutionize business," Business Horizons, Elsevier, vol. 62(6), pages 773-784.
    3. Bing Feng & Kaiyang Sun & Min Chen & Tao Gao, 2020. "The Impact of Core Technological Capabilities of High-Tech Industry on Sustainable Competitive Advantage," Sustainability, MDPI, vol. 12(7), pages 1-15, April.
    4. Monika Mačiulienė & Aelita Skaržauskienė, 2021. "Conceptualizing blockchain‐based value co‐creation: A service science perspective," Systems Research and Behavioral Science, Wiley Blackwell, vol. 38(3), pages 330-341, May.
    5. Aswathy Sreenivasan & Suresh Ma & Prema Nedungadi & V. Raja Sreedharan & R. Raghu Raman, 2023. "Interpretive Structural Modeling: Research Trends, Linkages to Sustainable Development Goals, and Impact of COVID-19," Sustainability, MDPI, vol. 15(5), pages 1-27, February.
    6. Gaurvendra Singh & Yash Daultani & Rajendra Sahu, 2022. "Investigating the barriers to growth in the Indian food processing sector," OPSEARCH, Springer;Operational Research Society of India, vol. 59(2), pages 441-459, June.
    7. Niloofar Etemadi & Pieter Van Gelder & Fernanda Strozzi, 2021. "An ISM Modeling of Barriers for Blockchain/Distributed Ledger Technology Adoption in Supply Chains towards Cybersecurity," Sustainability, MDPI, vol. 13(9), pages 1-28, April.
    8. Shou, Yongyi & Zhao, Xinyu & Dai, Jing & Xu, Dong, 2021. "Matching traceability and supply chain coordination: Achieving operational innovation for superior performance," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 145(C).
    9. Anshu Agrawal, 2020. "Modified Total Interpretive Structural Model of Corporate Financial Flexibility," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 21(4), pages 369-388, December.
    10. Nagamani Subramanian & M. Suresh, 2022. "Social Sustainability Factors Influencing the Implementation of Sustainable HRM in Manufacturing SMEs," Humanistic Management Journal, Springer, vol. 7(3), pages 469-507, December.
    11. Sachin Kumar Mangla & Yiğit Kazançoğlu & Abdullah Yıldızbaşı & Cihat Öztürk & Ahmet Çalık, 2022. "A conceptual framework for blockchain‐based sustainable supply chain and evaluating implementation barriers: A case of the tea supply chain," Business Strategy and the Environment, Wiley Blackwell, vol. 31(8), pages 3693-3716, December.
    12. Ammar AL-Ashmori & Gunasekar Thangarasu & P. D. D. Dominic & Al-Baraa Abdulrahman Al-Mekhlafi, 2023. "A Readiness Model and Factors Influencing Blockchain Adoption in Malaysia’s Software Sector: A Survey Study," Sustainability, MDPI, vol. 15(16), pages 1-28, August.
    13. Morteza Ghobakhloo & Mohammad Iranmanesh & Andrius Grybauskas & Mantas Vilkas & Monika Petraitė, 2021. "Industry 4.0, innovation, and sustainable development: A systematic review and a roadmap to sustainable innovation," Business Strategy and the Environment, Wiley Blackwell, vol. 30(8), pages 4237-4257, December.
    14. Salim, Taghreed Abu & El Barachi, May & Mohamed, Ahmed Alfatih D. & Halstead, Susanne & Babreak, Nasser, 2022. "The mediator and moderator roles of perceived cost on the relationship between organizational readiness and the intention to adopt blockchain technology," Technology in Society, Elsevier, vol. 71(C).
    15. Sudatta Kar & Arpan Kumar Kar & Manmohan Prasad Gupta, 2021. "Modeling Drivers and Barriers of Artificial Intelligence Adoption: Insights from a Strategic Management Perspective," Intelligent Systems in Accounting, Finance and Management, John Wiley & Sons, Ltd., vol. 28(4), pages 217-238, October.
    16. Ronaldo Brito da Silva & Claudia Aparecida de Mattos, 2019. "Critical Success Factors of a Drug Traceability System for Creating Value in a Pharmaceutical Supply Chain (PSC)," IJERPH, MDPI, vol. 16(11), pages 1-18, June.

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