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Decentralized platform economy: emerging blockchain-based decentralized platform business models

Author

Listed:
  • Oscar Lage

    (TECNALIA, Basque Research and Technology Alliance, (BRTA)
    The University of the Basque Country)

  • María Saiz-Santos

    (The University of the Basque Country)

  • José Manuel Zarzuelo

    (The University of the Basque Country)

Abstract

Emerging decentralized multisided platforms aim to create more open collaborations between participants and question currently centralized networked business models, such as Google, Amazon, Uber, or Airbnb. In this paper, a systematic analysis of the emerging decentralized platform economy is presented based on blockchain technology. The research aims to fill a gap in the literature, as there is currently no specific analyses on these emerging multisided decentralized electronic markets. Eighty-two decentralized platforms were studied. The study contributes to the literature on decentralized platform taxonomy to structure the emerging research domain of decentralized platform business models. Applying a cluster analysis, three emerging archetypes of decentralized platforms were found, referred to as hosted, federated, and shared platform models. The research contributes to a better understanding of emerging decentralized business platforms. According to the findings, two-thirds of the analyzed platforms, namely, federated and shared archetypes, do not follow traditional models. Rather, their aim is to create new business and community relationships. Furthermore, the archetype of shared platforms is the most disruptive, showing a higher level of decentralization and business model change.

Suggested Citation

  • Oscar Lage & María Saiz-Santos & José Manuel Zarzuelo, 2022. "Decentralized platform economy: emerging blockchain-based decentralized platform business models," Electronic Markets, Springer;IIM University of St. Gallen, vol. 32(3), pages 1707-1723, September.
    • Handle: RePEc:spr:elmark:v:32:y:2022:i:3:d:10.1007_s12525-022-00586-4
    DOI: 10.1007/s12525-022-00586-4
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    2. Rainer Alt, 2022. "Electronic Markets on platform culture," Electronic Markets, Springer;IIM University of St. Gallen, vol. 32(3), pages 1019-1031, September.

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    More about this item

    Keywords

    Blockchain; Business models; Decentralized platforms; Decentralized business; Disruptive technology; Web3;
    All these keywords.

    JEL classification:

    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • L17 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Open Source Products and Markets
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • L31 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Nonprofit Institutions; NGOs; Social Entrepreneurship

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