Perceived Business Objectives for Adopting Blockchain Technology: A Value-Focused-Thinking Approach

Abstract

Blockchain is a distributed, decentralized digital ledger that have the promise of shifting trust from organizations towards the algorithms. Blockchain technology has captured the attention of business and IT leaders, as well as academic researchers, for its potential impact on business transforming. While the extant literature on Blockchain has focused on addressing its technical features, and the different application areas, little is known about its potential business value and the fundamental objectives behind organizations’ decisions to adopt Blockchain. In this paper, through using Value-Focused-Thinking approach, we aim to enhance our understanding of the fundamental perceived business values, and related objectives, behind adopting Blockchain technology by organizations. The output of the study is a means-ends network of the perceived fundamental and means business objectives for adopting Blockchain by organizations. The findings of this study can serve as a foundation for future research on Blockchain business value and accounting information technology. It can also provide business and IT leaders with a tool to help them in making their decisions about Blockchain initiatives in their organizations.