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A business model analysis of blockchain technology-based startup

Author

Listed:
  • Joo Yeon Park

    (Murdoch University, Australia)

  • Chang Soo Sung

    (Dongguk University, Korea, Republic of)

Abstract

Blockchain is drawing attention as rising technology with the advantages of security, transparency, and immutability by a decentralized network structure. However, blockchain technology is still an immature technology and lacks common standards. The researches on blockchain technology have been mainly focused on the financial sector but rarely applied to the supply chain in industry sectors. Especially, the blockchain technologies developed by technology entrepreneurs are still challenging to apply to an actual business due to a lack of understanding of the possibility of creating value. Therefore, it is necessary to provide technological entrepreneurs with an understanding of the business model and the feasibility of creating value with the new technology like blockchain. To address the issue, this study investigates how blockchain technology is effectively applicable and what value can be achieved from it. The purpose of this study is to analyze a livestock traceability system using blockchain technology and investigate its business model in terms of the value proposition, value delivery, and value creation. This study would provide insights into the business value creation of blockchain technology.

Suggested Citation

  • Joo Yeon Park & Chang Soo Sung, 2020. "A business model analysis of blockchain technology-based startup," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 7(4), pages 3048-3060, June.
    • Handle: RePEc:ssi:jouesi:v:7:y:2020:i:4:p:3048-3060
    DOI: 10.9770/jesi.2020.7.4(32)
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    References listed on IDEAS

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    1. 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.
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    Cited by:

    1. Erik Karger & Marvin Jagals & Frederik Ahlemann, 2021. "Blockchain for Smart Mobility—Literature Review and Future Research Agenda," Sustainability, MDPI, vol. 13(23), pages 1-32, November.

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    More about this item

    Keywords

    business model; blockchain technology; technology entrepreneurs; value proposition value delivery; value creation;
    All these keywords.

    JEL classification:

    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • Q16 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - R&D; Agricultural Technology; Biofuels; Agricultural Extension Services
    • Q55 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Technological Innovation

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