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Hybrid Decision Model for Evaluating Blockchain Business Strategy: A Bank’s Perspective

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  • Nien-Ping Chen

    (Graduate Institute of Finance, National Taiwan University of Science and Technology, Taipei 10633, Taiwan)

  • Kao-Yi Shen

    (Department of Banking & Finance, Chinese Culture University, Taipei 11114, Taiwan)

  • Chiung-Ju Liang

    (Graduate Institute of Finance, National Taiwan University of Science and Technology, Taipei 10633, Taiwan)

Abstract

Banks attempt to invest in emerging financial technology (FinTech), such as blockchain, to enhance competitiveness. There is a great deal of literature on the technical and legal aspects of blockchain. However, there is little specific guidance on how banks can apply a holistic model to evaluate the blockchain-based business. This study proposes a hybrid decision model with confidence-weighted fuzzy assessments to address this valuable research topic. Supported by a group of seasoned experts, five major blockchain-based business models are evaluated for a domestic bank in Taiwan. The key findings contribute to understanding the importance of the involved factors and identifying the ideal business strategy for the bank. The result suggests that the most crucial dimension is policies and regulations, not the technical capability of banks.

Suggested Citation

  • Nien-Ping Chen & Kao-Yi Shen & Chiung-Ju Liang, 2021. "Hybrid Decision Model for Evaluating Blockchain Business Strategy: A Bank’s Perspective," Sustainability, MDPI, vol. 13(11), pages 1-22, May.
    • Handle: RePEc:gam:jsusta:v:13:y:2021:i:11:p:5809-:d:559672
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    References listed on IDEAS

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    Cited by:

    1. Yu-Cheng Kao & Kao-Yi Shen & San-Ting Lee & Joseph C. P. Shieh, 2022. "Selecting the Fintech Strategy for Supply Chain Finance: A Hybrid Decision Approach for Banks," Mathematics, MDPI, vol. 10(14), pages 1-20, July.
    2. Roger-Monzó, Vanessa & Castelló-Sirvent, Fernando & Teixidó, Eduard Farran, 2023. "Sustainability, fuzzy-set and the hall of fame: Evolving research agenda," Technological Forecasting and Social Change, Elsevier, vol. 188(C).
    3. Hang Yu & Senlai Zhu & Jie Yang, 2021. "The Quality Control System of Green Composite Wind Turbine Blade Supply Chain Based on Blockchain Technology," Sustainability, MDPI, vol. 13(15), pages 1-18, July.
    4. Jan Schwiderowski & Asger Balle Pedersen & Jonas Kasper Jensen & Roman Beck, 2023. "Value creation and capture in decentralized finance markets: Non-fungible tokens as a class of digital assets," Electronic Markets, Springer;IIM University of St. Gallen, vol. 33(1), pages 1-16, December.
    5. Ulaş Ünlü & Neşe Yalçın & Nuri Avşarlıgil, 2022. "Analysis of Efficiency and Productivity of Commercial Banks in Turkey Pre- and during COVID-19 with an Integrated MCDM Approach," Mathematics, MDPI, vol. 10(13), pages 1-22, July.

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