Managing Blockchain Systems and Applications: A Process Model for Blockchain Configurations

Abstract

Blockchain is a radical innovation with a unique value proposition that shifts trust from institutions to algorithms. Still, the potential of blockchains remains elusive due to knowledge gaps between computer science research and socio-economic research. Building on information technology governance literature and the theory of coevolution, this study develops a process model for blockchain configurations that captures blockchain capability dimensions and application areas. We demonstrate the applicability of the proposed blockchain configuration process model on four blockchain projects. The proposed blockchain configuration process model assists with the selection and configuration of blockchain systems based on a set of known requirements for a blockchain project. Our findings contribute to research by bridging knowledge gaps between computer science and socio-economic research on blockchain. Specifically, we explore existing blockchain concepts and integrate them in a process model for blockchain configurations.