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The impact of blockchain technology on business models – a taxonomy and archetypal patterns

Author

Listed:
  • Jörg Weking

    (Technical University of Munich)

  • Michael Mandalenakis

    (Technical University of Munich)

  • Andreas Hein

    (Technical University of Munich)

  • Sebastian Hermes

    (Technical University of Munich)

  • Markus Böhm

    (Technical University of Munich)

  • Helmut Krcmar

    (Technical University of Munich)

Abstract

Blockchain technology enables new ways of organizing economic activities, reduces costs and time associated with intermediaries, and strengthens the trust in an ecosystem of actors. The impact of this seminal technology is reflected by an upcoming research stream and various firms that examine the potential uses of blockchain technology. While there are promising use cases of this new technology, research and practice are still in their infancy about altering existing and creating new business models. We develop a taxonomy of blockchain business models based on 99 blockchain ventures to explore the impact of blockchain technology on business models. As a result, we identify five archetypal patterns, which enhance our understanding of how blockchain technology affects existing and creates new business models. We propose to use these results to discover further patterns fueled by blockchain technology and illustrate how firms can use blockchain technology to innovate their business models.

Suggested Citation

  • Jörg Weking & Michael Mandalenakis & Andreas Hein & Sebastian Hermes & Markus Böhm & Helmut Krcmar, 2020. "The impact of blockchain technology on business models – a taxonomy and archetypal patterns," Electronic Markets, Springer;IIM University of St. Gallen, vol. 30(2), pages 285-305, June.
    • Handle: RePEc:spr:elmark:v:30:y:2020:i:2:d:10.1007_s12525-019-00386-3
    DOI: 10.1007/s12525-019-00386-3
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    JEL classification:

    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights

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