Advancing resilience in Ethereum, Bitcoin, and blockchain technology: a comprehensive analysis of scalability, security, and sustainability challenges in a VUCA world

Abstract

Blockchain technology, exemplified by platforms such as Ethereum and Bitcoin, is reshaping decentralised ecosystems and holds profound implications for socio-economic transformation within an increasingly volatile, uncertain, complex, and ambiguous (VUCA) global environment. Yet, its broader adoption is hindered by challenges related to scalability, security, environmental sustainability, governance, and interoperability. This study, grounded in the Technology-Organisation-Environment (TOE) framework, critically investigates these multifaceted barriers and proposes strategic interventions to optimise blockchain deployment. Employing a mixed-methods approach, the research integrates quantitative performance metrics with qualitative insights from expert interviews and case analyses. It evaluates Ethereum's transition to proof of stake (PoS), Bitcoin's evolving economic roles, and the expanding applications of blockchain in DeFi, asset tokenisation, and Central Bank Digital Currencies (CBDCs). Further, it explores governance innovations, privacy safeguards, and the emerging threat of quantum computing. The study presents empirically grounded, theoretically informed recommendations to enhance blockchain's scalability, security, and compliance, fostering ethical, inclusive, and sustainable digital futures.