This study investigates the rapid centralization of the Ethereum builder market under the Proposer-Builder Separation (PBS) architecture. We argue that existing research, by focusing predominantly on influential order flows, lacks a comprehensive evaluation of order flow behavioral patterns and economic purposes. To address this gap, we analyze Ethereum transactions from September 2023 to August 2025 to characterize Exclusive Order Flows (EOFs) and non-atomic Maximal Extractable Value (MEV) -- the missing components corresponding to these behavioral and economic dimensions, respectively. We introduce a novel exclusivity metric based on Kullback-Leibler divergence and employ supervised learning to identify 75 EOFs and 322 non-atomic MEV flows, which account for 71\% and 23\% of trading-related builder revenue. A longitudinal analysis of builder strategies across these dimensions delineates the market's evolution into four distinct eras, revealing that while EOFs were instrumental in establishing early dominance, incumbents have since decoupled market share from immediate EOF dependency by leveraging entrenched network effects. Ultimately, we conclude that builder centralization is an emergent property of the PBS framework itself, as the architecture systematically violates the fundamental prerequisites of a competitive market.
Vahab Esfandani, Mohammad Amin Borghei, Sara Ravan Ramzani, Peter Konhaeusner ¡ 6 authors
The digital economy has expanded organizationsâ ability to source ideas, labor and capital through online participation, making crowdsourcing a strategic mechanism for innovation and problem solving. This chapter conceptualizes strategic crowdsourcing as a socio-technical system rather than ad hoc task outsourcing and synthesizes dispersed theory and evidence into a coherent framework for design and governance. It defines major typologiesâmicro-tasks, open innovation contests, co-creation, crowdfunding, internal crowdsourcing and citizen scienceâand situates them relative to outsourcing and open-source collaboration to clarify when each approach fits task uncertainty, required expertise and desired ownership of outputs. Building on open innovation, socio-technical systems and participatory governance perspectives, the chapter proposes an integrated model with five linked layers: contextual drivers; input configuration (task specification, crowd definition and call design); enabling infrastructure (platforms and technologies, including AI and blockchain-based mechanisms); process mechanisms (incentive design, validation and quality assurance, data governance and ethical/legal safeguards); and outputs/outcomes (innovation, organizational learning, governance effects and social value with feedback loops). Cross-sector illustrations from technology, healthcare, education, civic tech and sustainability highlight recurring trade-offs around motivation, quality control, fair compensation, privacy and confidentiality and intellectual property rights. The chapter also evaluates emerging hybrid humanâAI crowdsourcing and decentralized autonomous organizations (DAOs), emphasizing that their benefits depend on transparent rules, accountable allocation of rewards and decision rights and human-in-the-loop oversight to mitigate bias, concentration of control and trust failures. Overall, strategic crowdsourcing is positioned as potentially democratizing when aligned with organizational goals and governed responsibly. It concludes by outlining research directions for comparative studies, cross-cultural analysis and regulation-aware design.
Benjamin Gillen, Rashmi Ranjan Bhuyan, Gourab Mukherjee, Austin Pollok
The Ethereum blockchain plays a central role in the broader cryptocurrency ecosystem, enabling a wide range of financial activity through the use of smart contracts. This paper investigates how individual Ethereum wallets responded to the collapse of FTX, one of the largest centralized cryptocurrency exchanges. Moving beyond price-based event studies, we adopt a bottom-up approach using granular wallet-level data. We construct a representative sample of Ethereum addresses and analyze their transaction behavior before and after the collapse using an explainable artificial intelligence (XAI) framework. Our proposed framework addresses data scarcity in high-resolution wallet-level daily transactions by employing a calibrated zero-inflated generalized linear fixed effects model. Our analysis quantifies distinct shifts in transaction intensity and stablecoin usage, highlighting a flight to safety within the ecosystem. These findings underscore the value of a bottom-up methodology for quantifying the user-level impact of blockchain-based shocks, offering insights beyond traditional price-level analysis through wallet-level data.
In the rapidly evolving decentralized finance (DeFi) ecosystem, ensuring efficient and interoperable transaction mechanisms is a critical challenge. This paper introduces a strategic optimization model for a blockchain-based token exchange platform, leveraging Coincidence of Wants (CoWs), multi-chain Automated Market Makers (AMMs), and an on-chain solver auction mechanism to enhance transaction efficiency and cross-chain interoperability in DeFi. In our model, users specify their transaction intents, while solvers, selected through a competitive auction based on game theory principles, compete to find the most efficient execution pathways, considering liquidity availability and market constraints. This approach not only facilitates seamless cross-chain transaction flows, but also optimizes the efficiency of existing solvers and reduces the reliance on centralized mechanisms. Our modelâs effectiveness is validated through extensive simulation experiments, where performance with various order inputs and AMM constraints demonstrates a transaction completion rate increase ranging from 26.1% to 46.1% compared to the CoWs-only model, thereby enhancing user welfare and market fairness. The proposed model offers broad applicability for efficient, interoperable cross-chain transactions, positioning it to make a significant impact on the DeFi landscape.
Nidhi Singh, Usama Awan, Sarah Basahel, Rsha Alghafes
This study addresses a gap in the current research by investigating the relationship between BC based financial solutions and SC recoverability and financial resilience. Previous research provides little empirical evidence on how and under what conditions Fintech improves the manufacturing firm's financial resilience. This empirical research draws on the resource base view (RBV) to investigate the role of Fintech as a driver of better relationship transparency and SC production risk management for financial resilience. The data was collected from 295 engineering manufacturers in India. A key contribution of this study is that it provides new insights by highlighting the role of Blockchain Technology (BCT), built on the Ethereum-based system, in strengthening SC recoverability and enhancing relationship transparency. We present a research framework grounded in the Resource-Based View (RBV) that illustrates how blockchain technology (BCT) can provide firms with critical competencies for developing relationship transparency and managing production risks, thereby enhancing financial resilience in the SC. Relationship transparency, essential for SC recoverability, is pivotal in establishing the link between BCT and SC recoverability. Our findings advise SC managers that relationship transparency improves SC recoverability and may be an important source of financial resilience.
Abstract Decentralized Autonomous Organizations (DAOs) are attracting interest from various disciplines, particularly business and economics, and computer science. However, much like the parable of the blind men and the elephant, where each observer sees only part of the phenomenon, DAO research has largely remained fragmented across disciplines, limiting a comprehensive understanding of the potential of DAOs. This paper investigates to which extent DAO scholarship has achieved meaningful interdisciplinary integration. We address this question through an analysis of knowledge flows between Business and Economics and Computer Science, using citation network analysis, topic modelling, and outlet analysis. We find that while DAOs generate vibrant interdisciplinary discourse, the interactions remain predominantly applied and case-driven, with limited theoretical integration. By mapping interdisciplinary exchanges, we highlight key gaps and opportunities for greater synthesis across fields. We argue that strengthening the alignment between organizational and technical insights is crucial for advancing DAO research and fostering a more cohesive interdisciplinary framework.
Lyudmyla Alekseyenko, Marta Dmytryshyn, Oksana YURKEVYCH
Introduction. Scaling the innovation ecosystem requires a digital transformation of publicprivate innovation management (PPIM). Transactional policies that guarantee the exchange of resources shape the international contours of the development of a globalized economy with local preferences. PPIM faces geopolitical, regulatory and communication challenges that require international cooperation to ensure digital transformation in the face of epistemic uncertainty. There is a growing academic discourse on decentralized finance (DeFi) and cryptocurrencies, which seek to replicate the core economic functions of traditional finance (TradFi), but their unique characteristics create new risks to financial stability. The purpose of the article is to substantiate the theoretical concept of scaling innovations with a focus on trends in public-private management of innovation transformation in the context of the epistemic nature of international transactional politics. Results. Digital transformation promotes synergy between the state and business, especially in Ukraine, where the PPIM activates innovation in the modernization of the defense sector. Transactional policy ensures the protection of intellectual property and the harmonization of standards through Horizon Europe innovation development programs, which can be adapted and scaled to achieve national security guarantees. It is argued that blockchain and DeFi are transforming financial content, but they also create regulatory challenges. The gravity model reveals the speculative role of native cryptoassets and the transactional role of stablecoins, highlighting the adaptability of regulation to reduce risks and support innovative technologies. The application of the latest regulatory measures, in particular the embedding of rules in smart contracts, will comply with the principles of technologically neutral regulation, which allows for a balance between innovation and stability. Prospects. Further development of PPIM requires research into the communication of DeFi with traditional finance, in particular asset tokenization and smart contracts, to minimize systemic risks. It is important to diagnose the stability of stablecoins and their impact on financial inclusion in developing countries. Regulating decentralized systems like DAOs will contribute to financial stability and define the framework for interaction with regulators. The implementation of AI requires ethical standards to ensure transparency and security. In Ukraine, the Brave1 cluster demonstrates the potential of PPPs for innovation in conditions of uncertainty, and the modernization of CSR taking into account transactional policy trends will harmonize economic and defense goals, contributing to sustainable development and adaptation of global standards to local dimensions.
In increasingly decentralized organizations, aligning innovation governance with strategic decision-making has become a growing challenge. This study explored how a global industrial company, comprising hundreds of autonomous business entities, could enhance its product development methodology to better support executive-level product investment decisions. The current system, anchored in a linear waterfall process, has remained largely unchanged for a long period of time despite significant growth in organizational complexity and demand for newer methodologies. Using surveys issued to top-level decision-makers, follow-up interviews, and internal documentation, the study identified key decision criteria for go/no-go investment decisions and revealed key areas for organizational improvement. The criteria were evaluated and ranked using a tailored fuzzy analytical hierarchy process. The findings indicated that executive leadership should review criteria related to financial impact; strategic fit; product value, market, and customer understanding; and risk awareness. Identified improvement areas included increased project flexibility, better decision timing, stronger strategy alignment, and deeper customer insight. The thesis provides a foundation for revising product innovation practices and tools to strengthen executive governance, improve decision quality, and support sustainable growth.
Introduction Decentralized autonomous organizations in decentralized science face unique organizational and scientific demands. This study examines core challenges encountered by DeSci DAOs and how these challenges affect governance and research practice. Methods Ten semi-structured interviews were conducted with coâfounders, workingâgroup leads, and longâterm contributors. Transcripts were analyzed using Kuckartzâs sixâphase qualitative content analysis. Categories were developed and refined to synthesize recurrent themes across interviews. Results Nineteen sub-categories clustered into six domains: governance, financials, contribution, onboarding, operations, and science. Findings highlight tensions between tokenâweighted decision making and domain expertise, laborâintensive hybrid accounting practices, persistent talent shortages, steep Web3 onboarding curves, fragmented project coordination, and scienceâspecific issues that include negotiations with technology transfer offices and the tokenization of research assets. The resulting category system provides a diagnostic baseline for understanding how decentralized governance intersects with scientific rigor. Discussion DeSci DAOs progress most effectively when blockchain-enabled transparency is paired with clearly defined coordination roles, structured onboarding pathways, and credible mechanisms for scientific validation. These features help balance organizational experimentation with proven practices and support more reliable scientific workflows.
Vahid J. Sadeghi, Alexeis GarcĂa-PĂŠrez, Demetris Vrontis, Denise Bedford
The transition from an industrial to a knowledge-based economy, accelerated by the fourth industrial revolution (Industry 4.0), has fundamentally transformed the business landscape (Ardito et al., 2021). This shift has brought unprecedented challenges and opportunities for organizations, particularly small and medium-sized enterprises (SMEs), as they navigate the complexities of digital transformation and international expansion (Denicolai et al., 2021; Jafari-Sadeghi et al., 2021). In this context, the concept of digital resilience has emerged as a critical capability for firms to not only survive but thrive in an increasingly volatile, uncertain, complex and ambiguous (VUCA) business environment (Annarelli et al., 2020).This special issue of the Journal of Enterprise Information Management focuses on the intersections of digital resilience, new business models and international entrepreneurship, particularly emphasizing the importance of digital resilience for SMEs, the adaptation of business models in the digital age and the specific challenges SMEs face in international markets. By exploring these themes, the issue aims to provide valuable insights into how SMEs can leverage digital technologies to enhance their resilience, innovate their business models and successfully pursue international opportunities.The landscape of international business has undergone a profound transformation in recent decades, driven by the rise of the knowledge economy and the rapid advancement of digital technologies (Hanelt et al., 2020; Vaio et al., 2021). This evolution has given birth to new forms of international entrepreneurship and necessitated the development of novel capabilities, particularly digital resilience, for firms operating in the global marketplace (Dillon et al., 2020). As Oviatt and McDougall (2005) presciently observed, the intersection of international business, entrepreneurship and technological advancement has created a new paradigm for how firms operate across borders.International entrepreneurship, once characterized primarily by the gradual expansion of firms into foreign markets as described in traditional internationalization theories (Johanson and Vahlne, 1977), has been revolutionized by digital technologies. Todayâs international entrepreneurs can leverage digital platforms and ecosystems to engage with global markets from inception, often without significant physical presence abroad (Elia et al., 2020). This phenomenon, termed âborn-globalâ firms by Rennie (1993) and further developed by Knight and Cavusgil (2004), has fundamentally changed our understanding of how firms internationalize.The digital landscape has redefined how opportunities are discovered, evaluated and exploited across national borders (Cenamor et al., 2019). Zahra et al. (2005) highlight how digital technologies have enhanced entrepreneurs' ability to recognize international opportunities, while Autio et al. (2018) demonstrate how digital affordances enable new forms of value creation in international markets. International entrepreneurs now have unprecedented access to global customer bases, can tap into international talent pools through virtual collaboration and can participate in global value chains with greater ease than ever before (Coviello et al., 2017).However, this digital transformation also brings new challenges. As Reuber and Fischer (2011) point out, the increased accessibility of international markets has led to heightened competition, with firms facing rivals not just from their home country but from around the globe. Additionally, the rapid pace of technological change means that consumer preferences and market conditions can shift swiftly, requiring entrepreneurs to be ever vigilant and adaptable (Nambisan, 2017). Moreover, navigating diverse digital ecosystems and regulatory environments across different countries adds layers of complexity to international operations (Banalieva and Dhanaraj, 2019).In this context, digital resilience has emerged as a critical capability for international entrepreneurs. Building on the concept of organizational resilience (Linnenluecke, 2017), digital resilience extends beyond mere technological robustness; it encompasses an organizationâs ability to adapt, innovate and thrive in the face of digital disruptions and opportunities. For international entrepreneurs, digital resilience is multifaceted, involving technological adaptability, organizational flexibility and strategic agility (Garousi Mokhtarzadeh et al., 2020; Warner and Wäger, 2019).Technologically, digital resilience requires the ability to integrate, update and secure digital systems in a rapidly evolving technological landscape. This includes maintaining robust cybersecurity measures, ensuring data protection across international operations and swiftly adopting new technologies (Annarelli et al., 2020; Wylde et al., 2022) that can provide competitive advantages in global markets. As Kshetri (2014) emphasizes, the increasing prevalence of cyber threats makes this aspect of digital resilience particularly crucial for firms operating across borders.Organizationally, digital resilience demands the cultivation of a digitally savvy workforce and an innovative culture that can quickly respond to international market shifts (He et al., 2022; Wang and Chen, 2022). It involves developing digital competencies across the organization, fostering a mindset of continuous learning and adaptation and creating structures that allow for rapid decision-making in response to global digital trends. Fitzgerald et al. (2014) highlight how this organizational dimension of digital resilience often requires significant cultural and structural changes within firms.Strategically, digital resilience for international entrepreneurs means the capacity to sense and seize opportunities arising from digital innovations on a global scale. Teece (2007) describes these as dynamic capabilities, which are particularly crucial in fast-moving international digital markets. It requires the ability to reconfigure business models in response to international market demands, leverage data for cross-border decision-making and navigate the complexities of global digital ecosystems. As Autio and Zander (2016) note, this often involves creating and managing platform-based business models that can scale rapidly across international markets.The importance of digital resilience for international entrepreneurship is particularly pronounced in the era of the knowledge economy. In this economic paradigm, as articulated by Powell and Snellman (2004), value creation is increasingly driven by intellectual capital, innovation and the application of knowledge to solve complex problems. For international entrepreneurs, success in the knowledge economy requires not just the ability to create and leverage knowledge, but to do so across national boundaries and diverse cultural contexts (Mudambi et al., 2018).Digital resilience enables international entrepreneurs to effectively manage knowledge flows across borders, facilitating learning and innovation in international contexts (Arfi and Hikkerova, 2019; Shen et al., 2018). It allows firms to tap into global knowledge networks, collaborate with international partners and rapidly disseminate innovations across markets. Kogut and Zanderâs (1993) seminal work on the evolutionary theory of the multinational corporation underscores the importance of this knowledge transfer capability, which has only been amplified in the digital age.Moreover, digital resilience enhances an organizationâs ability to gather, analyze and act upon data from diverse international sources, improving strategic decision-making in global operations. As George et al. (2014) demonstrate, the ability to leverage big data analytics can provide significant competitive advantages in international markets. This data-driven approach allows firms to personalize offerings for different markets, optimize global supply chains and identify emerging trends across borders.The convergence of international entrepreneurship and digital resilience in the knowledge economy has given rise to new forms of value creation and capture. Digitally resilient international entrepreneurs can create platform-based business models that scale rapidly across borders, offer knowledge-intensive services to global markets and participate in international innovation ecosystems (Nambisan et al., 2019; Sukumar et al., 2020). They can also more effectively navigate global crises, as demonstrated during the COVID-19 pandemic, by quickly pivoting to digital operations and identifying new opportunities amidst disruption (Soto-Acosta, 2020).Furthermore, digital resilience is crucial for addressing the sustainability challenges that are increasingly central to international business (Miceli et al., 2021). It enables entrepreneurs to leverage technologies for sustainable innovation, meet evolving global standards and contribute to solving global challenges through their international operations. As emphasized by George et al. (2016), digital technologies offer unprecedented opportunities for firms to contribute to sustainable development goals while pursuing international growth.The interplay between digital resilience and international entrepreneurship also has significant implications for how firms overcome the liabilities of foreignness and newness in international markets. As Zaheer (1995) originally conceptualized, the liability of foreignness refers to the additional costs and challenges a firm faces when operating in a foreign market. Digital resilience can help mitigate these liabilities by enabling firms to gather market intelligence more effectively, adapt their offerings quickly to local preferences and build virtual networks that bridge cultural and institutional distances (Brouthers et al., 2016).As we move further into the 21st century, the ability of firms to build and maintain digital resilience while pursuing international opportunities will likely become a key determinant of success in the global marketplace. This special issue represents an important step in developing our understanding of this critical intersection between digital technologies, international entrepreneurship and the knowledge economy.In this special issue, we received a total number of 43 original submissions of which 12 were accepted (rejection rate 72%). Each paper makes unique additions to our theoretical and empirical understanding of digital resilience in the international entrepreneurship domain. In total, this special issue found interest from different locations on the planet as the diversity of submissions spread from 19 countries on diverse continents. Among accepted papers (corresponding) authors from seven different countries have contributed to this special issue. Table 1 highlights the country of origin for the submissions in this special issue.Several common themes emerged from the submissions, reflecting the current priorities and challenges faced by SMEs in the context of digital transformation and international entrepreneurship. This included:Digital transformation and resilience: Many papers emphasized the critical role of digital transformation in building resilience. This included discussions on how SMEs can leverage digital technologies to enhance their operational efficiency, innovate business models and improve their competitive edge in international markets.Innovative business models: A significant number of submissions explored innovative business models that SMEs are adopting to thrive in the digital economy. These models often integrate digital platforms, data analytics and new value creation mechanisms that support international expansion.Cybersecurity and risk management: Given the increasing digitalization, several papers addressed the importance of cybersecurity and effective risk management strategies. These studies highlight the need for robust digital infrastructures and practices to protect against cyber threats and ensure business continuity.The submissions also showcased a variety of innovative approaches, offering fresh perspectives and practical insights, including:Use of advanced technologies: Many authors investigated the application of advanced technologies such as artificial intelligence, blockchain and the Internet of Things (IoT). These technologies are seen as pivotal in driving digital resilience and enabling SMEs to tap into global markets with greater agility.Case studies and empirical research: A notable trend was the use of detailed case studies and empirical research to illustrate successful digital transformation strategies. These provide valuable and insights for SMEs to enhance their digital papers approaches, insights from business systems and entrepreneurship. 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Elona Marku, Maria Chiara Di Guardo, Gerardo Patriotta, David G. Allen
Drawing on complexity theory, we investigate the structuring processes and underlying mechanisms underpinning the emergence of a new technology. Empirically, we track the emergence of blockchain technology by examining international patents issued between 2009 and 2020. Our results indicate that technology emergence follows an evolutionary trajectory that progresses from disordered to structured interactions among the technological elements, culminating in the formation of a technological core that acts as a pole of attraction for further interactions and delineates boundaries within the technological domain. Technology structuring is fueled by what we term âtechnology fitnessâ and âself-reinforcingâ mechanisms that progressively transform primitive structures into more complex, self-organized configurations. Our study offers a novel framework of technology emergence, highlighting how dispersed bits of technological knowledge gradually aggregate into complex structures that define the specific trajectory of a particular domain.
In China's Internet finance industry, companies face a complex and uncertain environment that poses significant adaptive challenges. The strictness of regulatory policies, the rapid development of technological innovation, and the sharp changes in consumer preferences have profound implications for the survival and development of enterprises. Many Internet finance companies have struggled to cope with these challenges, leading to hindered business development, a significant decline in profits, and even withdrawal from the market. This thesis focuses on how Internet finance companies make strategic adjustments to adapt to the complex and variable external environment and investigates the role of dynamic capabilities in this process. The research categorizes the strategic adjustment process into three phases: strategic analysis, strategic planning and selection, and strategic implementation and evaluation. Throughout this process, the three components of dynamic capabilities - sensing capability, seizing capability, and transformation capability - have been identified as crucial success factors. Sensing capability assists the company in rapidly and accurately identifying changes in the external environment. Seizing capability enhances decision-making and execution efficiency through decentralized management and resolution mechanisms. Transformation capability mitigates the challenges of resource acquisition by facilitating flexible resource allocation and effective training mechanisms, expediting the deployment of new strategies. The findings indicate that Internet finance enterprise, through effective strategic adjustments, has sustained business growth and core competitiveness despite the impact of external environmental changes and regulatory policies. This study also reveals how dynamic capabilities ensure the success of the strategic adjustment process and their indispensable role throughout it.
Open access
Innovation and Knowledge Management
Organizational Leadership and Management Strategies
This teaching case describes, based on publicly available material, the transition of the A. P. Moller Maersk shipping company from a logistics-based organization to an information and technology-based organization. Multiple digital technologies, including distributed ledger, robotic automation, digital platforms, and big-data analytics offered opportunities for Maersk. Although the company was a relatively late starter in digital transformation, its journey so far has been successful. The challenge is how to enact sustained digital transformation in an environment of rapid technology change. Some theoretical lenses are offered to assist with analyzing and framing Maerskâs digital strategy, including business models, organizational ambidexterity, and dynamic capabilities.
This research examines the changes and effects of digital transfer in creative industries on the music market strategies for digital entrepreneurship. This study uses the transfer of digital technology, such as non-fungible tokens (NFTs) and Artificial intelligence (AI), by entrepreneurial producers and suppliers to illustrate how new technologies transform market dynamics through audience personalisation and decentralised business models. In addition to addressing how these new technologies open up opportunities, this paper provides industry stakeholders with practical strategies to negotiate challenges successfully. These changes change market access and generate entrepreneurial ideas by increasing the strategies' efficiency. At the same time, the results of this research show how the new business models presented in the new decentralised markets lead to the democratisation of the market and, thus, to the increase of entrepreneurship and the cultivation of new ideas. This study uses a questionnaire of music projects presented as NFT, the researcher's experiences participating in NFT projects, and a questionnaire conducted by the researcher with project agents. For this purpose, this research has used the 217 responses it received as statistical data from the questionnaire. This research examines identifying the results of using new technologies and their relationship with the theories of digital entrepreneurship strategy. It answers how using entrepreneurial strategies to apply new technologies, especially artificial intelligence and NFTs, creates new opportunities in entrepreneurship.
To solve some of the challenges of traditional science, such as restricted access to funding, centralized governance, and siloed knowledge dissemination, decentralized science (DeSci) has emerged as a transformative approach facilitated by blockchain technology, Decentralized Autonomous Organizations (DAOs), and Web3. However, the emerging field of DeSci, faces several challenges, such as the absence of an organizational framework to describe its inherent complexities. This study introduces the Decentralized Science Pyramid Framework (DSPF), an innovative adaptation of Mintzbergâs organizational structure, adapted to the unique demands and properties of DeSci. The DSPF delineates a structured model for DeSci projects that integrates technology, governance, community engagement, and application within a decentralized context. Through the introduction of the DSPF, this research highlights the operational dynamics of DeSci, focusing on the practical application of Mintzbergâs theories to address real-world scientific challenges. The case study of VitaDAO, a decentralized autonomous organization exemplifying the core principles of DeSci, demonstrates the practical applicability of the DSPF. This study not only advances the academic discourse on DeSci but also offers practical insights for practitioners, innovators, and policymakers, marking a substantial step toward realizing the full potential of decentralized science.
Michael Lustenberger, Florian Spychiger, Lukas KĂźng, Pedro Cuadra
This guidebook summarizes the insights and outcomes from the Innosuisse Project 103.141 IP-ICT Designing and Implementing a Decentralized Autonomous Organization. Running from November 2022 to May 2024, the project was conducted as a collaborative effort between the ZHAW Institute for Organizational Viability and DecentAge AG with support from Innosuisse and Infinity Economics, Stefan Kneller. The projectâs primary objective was to develop a robust DAO Design Framework and deploy it on the Infinity Economics Platform (IEP). DecentAge AG successfully executed this model on the IEP, giving users an easy way to create and manage DAOs directly on the blockchain. This implementation allows organizations to operate without centralized management, streamlining governance and enhancing accessibility. This guide will provide you with the essential practical and scientific understanding of DAOs and how to effectively structure the initiation process in accordance with a DAO Design Canvas.
Although academic and practical interest in non-fungible tokens (NFTs) has continuously increased over the last few years, there is still a need to better understand their social acceptability. The aim of the study was to explore the double edge of NFT legitimacy for NFTs by unveiling the role of sustainability and by adopting technology legitimacy and the field of sustainability transition studies as a theoretical lens. Specifically, this research investigates the role of sustainability in securing and maintaining technology legitimacy within NFT projects. We interviewed 12 experts through exploratory qualitative research. The findings highlight three main ways in which sustainability participates in the legitimation of NFT projects. While sustainability can be inherent in the NFT project itself, this legitimation can also be derived from the perceived sustainability of the NFT technology or be part of innovative business models. Theoretical contributions and managerial implications are then discussed. JEL CODES: O33, O35, O50
A âkiller appâ denotes any computer programme or software that is so essential or desirable that it demonstrates the fundamental worth of a larger technology. It is portrayed as virtually indispensable or vastly superior to competing products. Supply chain transparency (SCT) has long been ripe for disruption and in need of such a technological solution. Several applications have appeared on the market - but few have coalesced the complex tasks required for full transparency. To date, there is no âkiller appâ for fashion supply chain transparency. Applications that facilitate SCT including tracking and tracing mechanisms as well as data repository and distributed ledger systems like blockchain are complex and daunting for most fashion businesses. Industry powerplays and lack of trust are blocking the universal adoption of current solutions. This chapter aims to explore how SCT can be adopted by firms and facilitated at scale. We advance current knowledge of digital technology applications for SCT through the theoretical lens of organisational culture to decipher how start-ups are developing technology for adoption by fashion firms. Using a single case study methodology, we analysed one hybrid start-up (fashion and technology firm) that has developed and implemented advanced digital technology initiatives at scale. From our case analysis, we provide insights into the requirements to build a digital ecosystem - one with which most firms are not yet familiar. We discuss key implications for theory and practise, based on our findings.
Abstract Non-fungible tokens (NFTs) are digital assets based on blockchain technology that are increasingly being used for various applications in organizations. Given NFTsâ unique technological features, we posit that traditional, centralized organizations can adopt them to introduce novel solutions to the fundamental problems of organizing, namely, division of labor and integration of efforts. We examine the prospects and promises of NFT-enabled organization design and suggest how organizations can navigate its potential hurdles. We discuss critical boundary conditions for the deployment of NFTs in organization design and conclude by articulating how our Point of View article contributes to scholarship on blockchain technology and decentralized autonomous organizations (DAOs).
Abstract Research Summary This abductive study investigates how management occurs without managerial authority as part of a previously unseen organizational formâthe decentralized platform with an independent market value. Our mixedâmethods study of the cryptocurrency industry draws on fuzzyâset qualitative comparative analyses (QCA) to analyze archival and interview data and offer new theory on how decentralized platforms coordinate activities to grow in an earlyâstage, before network effects kick in. We find that, in the absence of a central authority, platforms coordinate activities with three mechanisms, namely decentralized (a) algorithmic coordination, (b) social coordination, and (c) goal coordination. Our QCA treat these mechanisms as explanatory conditions and, using a representative sample of 20 cryptocurrency platforms, reveal which configurations of decentralized coordination mechanisms nurture, or hinder, earlyâstage platform growth. Managerial Summary Firms operate around a managerial hierarchy that distributes tasks, resources, information, and rewards to organizational members who pursue common goals as contractâbound employees. From 2009, a new organizational form, called the âdecentralized platform,â emerged and diffused without relying on hierarchy nor managerial authorityâand without having to employ anyone. The most prominent decentralized platform, Bitcoin, has millions of users, thousands of contributors, and a market valuation never achieved before by an organization without a CEO nor shareholders. This study explicates how this unprecedented level of organizational decentralization functions in practice. We foreshadow implications for the digital economy, wherein âWeb3â innovations, such as nonâfungible tokens and DAOs, have already shifted the orchestrating role played by platforms in capitalist societies.
Abstract Research summary International business strategy and international management are two distinct but related fields of study. This article explores the connections between them. It shows how internalization theory can act as a bridge between them. The key is to analyze not only core activities, such as production, marketing and R&D, but support services such as human resource management, information technology, and corporate finance. Internalization decisions and location decisions must be analyzed holistically, and diagrammatic techniques show how this can be done. These diagrams reveal the networks of communication and the hierarchical structures that emerge from such decisions. Managerial summary The organizational structure of a multinational enterprise is inherently complex, making it difficult to determine whether one organizational structure is more efficient than another. Delayering, decentralization, and agility are recommended, but what are their practical implications? Internalization theory addresses these problems in a simple and coherent way. It shows that it is not only core activities, namely production, marketing and R&D, that need to be coordinated, but support services too. Decisions on the location and outâsourcing of support services must be aligned with similar decisions on core activities. A diagrammatic analysis is presented that facilitates the solution of these problems.
Purpose This study aims to contribute to the early but fervent debate on blockchain and supply networks by proposing a novel theoretical perspective on blockchain adoption grounded on social capital theory. In particular, it seeks to answer the following question: what is the role of social capital in shaping the decision to adopt blockchain in supply networks? Design/methodology/approach Multiple case-studies, based on interviews performed with managers of eight firms, were used. Findings The social capital theory emerged as an additional but necessary lens to investigate blockchain implementation in supply networks. The intuitions proposed highlighted the importance of managersâ sensemaking for investigating technology adoption. Relational capital emerged as a necessary but not sufficient condition to adopt blockchain in supply networks. In addition, it is argued a relationship between competitive opportunities at the firm level and the idea to adopt the blockchain. The opportunity to act as âTertius Gaudensâ or as âTertius Iungensâ information brokers in supply networks should severely affect firmsâ proneness toward the adoption of blockchain solutions. Originality/value This is one of the first studies in the literature investigating blockchain adoption in supply networks from a social capital perspective. It introduces new issues to the debate related to the role of blockchain in the supply chain by discussing the role of goal misalignment and competitive advantage, which emerged as crucial for shaping the decision to adopt blockchain in supply networks.