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Overview of business innovations and research opportunities in blockchain and introduction to the special issue

Author

Listed:
  • J. Leon Zhao

    (City University of Hong Kong)

  • Shaokun Fan

    (Oregon State University)

  • Jiaqi Yan

    (Nanjing University)

Abstract

Blockchain has become a new frontier of venture capitals that has attracted the attention of banks, governments, and other business corporations. The recent blockchain related attempts included legal blockchains by Fadada.com and Microsoft and pork tracking blockchains by Walmart and IBM. Blockchain is poised to become the most exciting invention after the Internet; while the latter connects the world to enable new business models based on online business processes, the former will help resolve the trust issue more efficiently via network computing. In this paper, we give an overview on blockchain research and development as well as introduce the papers in this special issue. We show that while blockchain has enabled Bitcoin, the most successful digital currency, its widespread adoption in finance and other business sectors will lead to many business innovations as well as many research opportunities.

Suggested Citation

  • J. Leon Zhao & Shaokun Fan & Jiaqi Yan, 2016. "Overview of business innovations and research opportunities in blockchain and introduction to the special issue," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 2(1), pages 1-7, December.
    • Handle: RePEc:spr:fininn:v:2:y:2016:i:1:d:10.1186_s40854-016-0049-2
    DOI: 10.1186/s40854-016-0049-2
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    References listed on IDEAS

    as
    1. Huaiqing Wang & Kun Chen & Dongming Xu, 2016. "A maturity model for blockchain adoption," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 2(1), pages 1-5, December.
    2. Yuanfeng Cai & Dan Zhu, 2016. "Fraud detections for online businesses: a perspective from blockchain technology," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 2(1), pages 1-10, December.
    3. Huasheng Zhu & Zach Zhizhong Zhou, 2016. "Analysis and outlook of applications of blockchain technology to equity crowdfunding in China," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 2(1), pages 1-11, December.
    4. Jianjun Sun & Jiaqi Yan & Kem Z. K. Zhang, 2016. "Blockchain-based sharing services: What blockchain technology can contribute to smart cities," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 2(1), pages 1-9, December.
    5. Ye Guo & Chen Liang, 2016. "Blockchain application and outlook in the banking industry," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 2(1), pages 1-12, December.
    6. Ning Shi, 2016. "A new proof-of-work mechanism for bitcoin," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 2(1), pages 1-8, December.
    7. Jennifer J. Xu, 2016. "Are blockchains immune to all malicious attacks?," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 2(1), pages 1-9, December.
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