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Opportunities and challenges of blockchain for multi-sided platforms

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  • David Bendig

    (University, of Muenster)

  • Maximilian Charlet

    (University, of Muenster)

Abstract

Blockchain appears promising in meeting the challenges of digital multi-sided platforms by limiting the power of centralized intermediaries. Research has addressed individual aspects of blockchain, including decentralized decision-making, trust mechanisms, and incentivization measures. A comprehensive overview of blockchain's concrete opportunities and challenges for multi-sided platforms can help research work toward a more holistic view. We aim to provide current knowledge on these nascent developments by performing a developmental literature review. We find that platforms can modularly adopt different technological and governance-related blockchain features. We develop a conceptual framework of eighteen opportunities and challenges of blockchain for multi-sided platforms. Last, we highlight mutual and sometimes contrary effects between these opportunities and challenges.

Suggested Citation

  • David Bendig & Maximilian Charlet, 2025. "Opportunities and challenges of blockchain for multi-sided platforms," Electronic Markets, Springer;IIM University of St. Gallen, vol. 35(1), pages 1-26, December.
    • Handle: RePEc:spr:elmark:v:35:y:2025:i:1:d:10.1007_s12525-025-00765-z
    DOI: 10.1007/s12525-025-00765-z
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    More about this item

    Keywords

    Blockchain; Blockchain platform; Decentralized governance; Multi-sided platform; Network effects; Platform governance;
    All these keywords.

    JEL classification:

    • M15 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - IT Management

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