IDEAS home Printed from https://ideas.repec.org/a/spr/binfse/v59y2017i6d10.1007_s12599-017-0506-0.html
   My bibliography  Save this article

A Blockchain Research Framework

Author

Listed:
  • Marten Risius

    (Clemson University)

  • Kai Spohrer

    (University of Mannheim, Chair of General Management and Information Systems)

Abstract

While blockchain technology is commonly considered potentially disruptive in various regards, there is a lack of understanding where and how blockchain technology is effectively applicable and where it has mentionable practical effects. This issue has given rise to critical voices that judge the technology as over-hyped. Against this backdrop, this study adapts an established research framework to structure the insights of the current body of research on blockchain technology, outline the present research scope as well as disregarded topics, and sketch out multidisciplinary research approaches. The framework differentiates three groups of activities (design and features, measurement and value, management and organization) at four levels of analysis (users and society, intermediaries, platforms, firms and industry). The review shows that research has predominantly focused on technological questions of design and features, while neglecting application, value creation, and governance. In order to foster substantial blockchain research that addresses meaningful questions, this study identifies several avenues for future studies. Given the breadth of open questions, it shows where research can benefit from multidisciplinary collaborations and presents data sources as starting points for empirical investigations.

Suggested Citation

  • Marten Risius & Kai Spohrer, 2017. "A Blockchain Research Framework," Business & Information Systems Engineering: The International Journal of WIRTSCHAFTSINFORMATIK, Springer;Gesellschaft für Informatik e.V. (GI), vol. 59(6), pages 385-409, December.
  • Handle: RePEc:spr:binfse:v:59:y:2017:i:6:d:10.1007_s12599-017-0506-0
    DOI: 10.1007/s12599-017-0506-0
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s12599-017-0506-0
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.

    File URL: https://libkey.io/10.1007/s12599-017-0506-0?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    References listed on IDEAS

    as
    1. Luisanna Cocco & Michele Marchesi, 2016. "Modeling and Simulation of the Economics of Mining in the Bitcoin Market," PLOS ONE, Public Library of Science, vol. 11(10), pages 1-31, October.
    2. Sikorski, Janusz J. & Haughton, Joy & Kraft, Markus, 2017. "Blockchain technology in the chemical industry: Machine-to-machine electricity market," Applied Energy, Elsevier, vol. 195(C), pages 234-246.
    3. Sinan Aral & Chrysanthos Dellarocas & David Godes, 2013. "Introduction to the Special Issue ---Social Media and Business Transformation: A Framework for Research," Information Systems Research, INFORMS, vol. 24(1), pages 3-13, March.
    4. Oliver E. Williamson, 2025. "Transaction Cost Economics," Springer Books, in: Claude Ménard & Mary M. Shirley (ed.), Handbook of New Institutional Economics, edition 0, chapter 4, pages 47-71, Springer.
    5. Gareth W. Peters & Efstathios Panayi & Ariane Chapelley, 2015. "Trends in cryptocurrencies and blockchain technologies: a monetary theory and regulation perspective," Journal of Financial Perspectives, EY Global FS Institute, vol. 3(3), pages 92-113.
    6. David Yermack, 2017. "Corporate Governance and Blockchains," Review of Finance, European Finance Association, vol. 21(1), pages 7-31.
    7. Paech, Philipp, 2016. "Securities, intermediation and the blockchain: an inevitable choice between liquidity and legal certainty?," LSE Research Online Documents on Economics 67870, London School of Economics and Political Science, LSE Library.
    8. Paul Benjamin Lowry & Jun Zhang & Chuang Wang & Mikko Siponen, 2016. "Why Do Adults Engage in Cyberbullying on Social Media? An Integration of Online Disinhibition and Deindividuation Effects with the Social Structure and Social Learning Model," Information Systems Research, INFORMS, vol. 27(4), pages 962-986, December.
    9. Brenig, Christian & Schwarz, Jonas & Ostern, Nadine, 2016. "Value of Decentralized consensus Systems - Evaluation Framework," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 92780, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    10. Claude Menard & Mary M. Shirley (ed.), 2005. "Handbook of New Institutional Economics," Springer Books, Springer, number 978-0-387-25092-2, December.
    11. Dwyer, Gerald P., 2015. "The economics of Bitcoin and similar private digital currencies," Journal of Financial Stability, Elsevier, vol. 17(C), pages 81-91.
    12. Thomas Puschmann & Rainer Alt, 2016. "Sharing Economy," Business & Information Systems Engineering: The International Journal of WIRTSCHAFTSINFORMATIK, Springer;Gesellschaft für Informatik e.V. (GI), vol. 58(1), pages 93-99, February.
    13. Viswanath Venkatesh & Fred D. Davis, 2000. "A Theoretical Extension of the Technology Acceptance Model: Four Longitudinal Field Studies," Management Science, INFORMS, vol. 46(2), pages 186-204, February.
    14. Thomas Puschmann & Rainer Alt, 2016. "Sharing Economy," Business & Information Systems Engineering: The International Journal of WIRTSCHAFTSINFORMATIK, Springer;Gesellschaft für Informatik e.V. (GI), vol. 58(1), pages 93-99, February.
    15. Michael Mainelli & Mike Smith, 2015. "Sharing ledgers for sharing economies: an exploration of mutual distributed ledgers (aka blockchain technology)," Journal of Financial Perspectives, EY Global FS Institute, vol. 3(3), pages 38-58.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Walker, Clive B., 2024. "Going mainstream: Cryptocurrency narratives in newspapers," International Review of Financial Analysis, Elsevier, vol. 94(C).
    2. Francisco Javier García-Corral & José Antonio Cordero-García & Jaime de Pablo-Valenciano & Juan Uribe-Toril, 2022. "A bibliometric review of cryptocurrencies: how have they grown?," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 8(1), pages 1-31, December.
    3. Paskalev, Zdravko & Yildirim, Huseyin, 2017. "A theory of outsourced fundraising: Why dollars turn into “Pennies for Charity”," Journal of Economic Behavior & Organization, Elsevier, vol. 137(C), pages 1-18.
    4. Bhuiyan, Rubaiyat Ahsan & Husain, Afzol & Zhang, Changyong, 2021. "A wavelet approach for causal relationship between bitcoin and conventional asset classes," Resources Policy, Elsevier, vol. 71(C).
    5. Michiel A. Heldeweg, 2017. "Normative Alignment, Institutional Resilience and Shifts in Legal Governance of the Energy Transition," Sustainability, MDPI, vol. 9(7), pages 1-34, July.
    6. Flori, Andrea, 2019. "News and subjective beliefs: A Bayesian approach to Bitcoin investments," Research in International Business and Finance, Elsevier, vol. 50(C), pages 336-356.
    7. Mario Arias-Oliva & Jorge de Andrés-Sánchez & Jorge Pelegrín-Borondo, 2021. "Fuzzy Set Qualitative Comparative Analysis of Factors Influencing the Use of Cryptocurrencies in Spanish Households," Mathematics, MDPI, vol. 9(4), pages 1-19, February.
    8. Karl, Helmut, 2015. "Koordination raumwirksamer Politik: Einleitende Einführung in die Beiträge des ARL-Arbeitskreises," Forschungsberichte der ARL: Aufsätze, in: Karl, Helmut (ed.), Koordination raumwirksamer Politik: Mehr Effizienz und Wirksamkeit von Politik durch abgestimmte Arbeitsteilung, volume 4, pages 1-6, ARL – Akademie für Raumentwicklung in der Leibniz-Gemeinschaft.
    9. Jules Clement Mba, 2024. "Assessing portfolio vulnerability to systemic risk: a vine copula and APARCH-DCC approach," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 10(1), pages 1-36, December.
    10. Stefano Martinazzi & Daniele Regoli & Andrea Flori, 2020. "A Tale of Two Layers: The Mutual Relationship between Bitcoin and Lightning Network," Risks, MDPI, vol. 8(4), pages 1-18, December.
    11. Sylvain Rossiaud & Catherine Locatelli, 2009. "The obstacles in the way of stabilizing the russian oil model," Post-Print halshs-00321227, HAL.
    12. Gregor Dorfleitner & Lars Hornuf & Martina Weber, 2017. "Dynamics of Investor Communication in Equity Crowdfunding," Research Papers in Economics 2017-04, University of Trier, Department of Economics.
    13. Trinh Chieu & Tam Nguyen, 2018. "Slack resources and innovation in Vietnamese SMEs: A behavioural, stewardship, and institutional perspective," WIDER Working Paper Series 78, World Institute for Development Economic Research (UNU-WIDER).
    14. Andrew Detzel & Hong Liu & Jack Strauss & Guofu Zhou & Yingzi Zhu, 2021. "Learning and predictability via technical analysis: Evidence from bitcoin and stocks with hard‐to‐value fundamentals," Financial Management, Financial Management Association International, vol. 50(1), pages 107-137, March.
    15. Pei Yee Chin & Nina Evans & Charles Zhechao Liu & Kim-Kwang Raymond Choo, 2020. "Understanding Factors Influencing Employees’ Consumptive and Contributive Use of Enterprise Social Networks," Information Systems Frontiers, Springer, vol. 22(6), pages 1357-1376, December.
    16. Walsh, Clara & O’Reilly, Philip & Gleasure, Rob & McAvoy, John & O’Leary, Kevin, 2021. "Understanding manager resistance to blockchain systems," European Management Journal, Elsevier, vol. 39(3), pages 353-365.
    17. Pei Yee Chin & Nina Evans & Charles Zhechao Liu & Kim-Kwang Raymond Choo, 0. "Understanding Factors Influencing Employees’ Consumptive and Contributive Use of Enterprise Social Networks," Information Systems Frontiers, Springer, vol. 0, pages 1-20.
    18. Antonakakis, Nikolaos & Chatziantoniou, Ioannis & Gabauer, David, 2019. "Cryptocurrency market contagion: Market uncertainty, market complexity, and dynamic portfolios," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 61(C), pages 37-51.
    19. Tam Thanh Nguyen & Trinh Duc Chieu, 2018. "Slack resources and innovation in Vietnamese SMEs: A behavioural, stewardship, and institutional perspective," WIDER Working Paper Series wp-2018-78, World Institute for Development Economic Research (UNU-WIDER).
    20. Thomas Puschmann, 2017. "Fintech," Business & Information Systems Engineering: The International Journal of WIRTSCHAFTSINFORMATIK, Springer;Gesellschaft für Informatik e.V. (GI), vol. 59(1), pages 69-76, February.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:binfse:v:59:y:2017:i:6:d:10.1007_s12599-017-0506-0. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.