Blockchain Papers

Haibo Zhang, Kouichi Sakurai

No abstract is available for this record.

Leonardus Evandito Paschalie, Adhi Setyo Santoso

This research aims to create a better understanding of cryptocurrency adoption. The research framework is adapted from the Technology Acceptance Model (TAM) with additional constructs: social commerce, hedonic motivations, and utilitarian motivation. A quantitative research method was chosen for this study. A total of 54 respondents are collected using a snowball non-probability sampling method. The results show that Hedonic motivation and utilitarian motivation that represent subscription-based online services prove to have an impact on perceived usefulness. However, perceived usefulness fails to impact behavioral intention to use. Social commerce representing social interaction in the model has proven that it impacts behavioral intention to use with the mediation of perceived trust.

Ioannis Antoniadis, Stamatis Kontsas, Konstantinos Spinthiropoulos

Blockchain is gaining ground on academic research and business applications as it is believed to have the potential to change business models in numerous sectors of the economy. Blockchain applications characteristics (security, immutability of record keeping, efficiency, and disintermediation) provide solutions to a number of issues firms and organizations face. Until now, most of the research until now deals with its financial applications and cryptocurrencies. There is however, an important field for developing blockchain application in marketing and most specifically in brand loyalty programs. In this paper, we are going to review some of the applications of blockchain in marketing and marketing management, and the ways it could enhance brand loyalty and brand loyalty programs run by firms and brands. The main findings of our paper is that blockchain could help brand loyalty by building trust between the brand and consumers, by simplifying and reducing the cost of administering brand loyalty programs, and by providing more ways for consumers to derive benefits from these programs through tokenization or cryptocurrencies. Finally, we are proposing issues that should be considered for further research on the topic. Keywords: Blockchain; Marketing; Brand; Loyalty Programs.

Dong‐Her Shih, Kuan-Chu Lu, Yi‐Ting Shih, Po-Yuan Shih

Agriculture is indispensable for every country. Farmers use pesticides in large quantities to increase productivity, thus causing serious damage to the agro-ecological environment. If consumers consume a large number of such vegetables, there can be an adverse effect on their health. Therefore, consumers shift from consuming general vegetables to organic vegetables. However, the price of organic vegetables is higher than that of general vegetables, and there are doubts about the authenticity of the production and marketing process. Unfortunately, production and sales records are often falsified. The blockchain may be able to guarantee the authenticity of organic vegetables because the blockchain is tamperproof and transparent. Therefore, we proposed an exercise environment for the production and marketing of organic vegetables by using Ethereum. This proposed system can ensure the authenticity of the production and sales record, it may increase the sales of organic vegetables and solve the problem of agricultural ecological environment pollution in the real world.

Jen-Yin Yeh, Ssu-Chi Liao, Yuting Wang, Yin-Jia Chen

From being associated with the financial services primarily, blockchain is now affecting other industries as well. Blockchain is attracting interest as a way to track and monitor food through the supply network, ensuring its origin. Consumers are increasingly demanding to know where their purchases come from and how they are made. In food industry, consumers can confirm the provenance of their purchases by blockchain. Despite some blockchain research on innovation adoption in fintech contexts, little is known about how consumers evaluate blockchain in food traceability and transparency. This study explores consumers' motivations to purchase food with blockchain code and takes the Unified Theory of Acceptance and Use of Technology 2 (UTA UT2) as a reference and develops an extended model by considering perceived trust, since the capabilities of blockchain technology for food traceability and transparency. The results show that blockchain technology has the capability to build trust and affect purchase intention. Results also highlight purchase intention is significantly and positively influenced by performance expectancy, effort expectancy, and habit. The results further show that technographic can significantly enhance intention to the use of blockchain technology to trace food The research provides an insight to practitioners and researchers on how to increase intention towards blockchain.

Daniel Bumblauskas, Arti Mann, Brett Dugan, Jacy Rittmer

No abstract is available for this record.

Viachaslau Filimonau, Elena Naumova

No abstract is available for this record.

Lee Ki-Kwang, Suji Cho, Gyungsu Min, Cheol‐Won Yang

This paper analyzes the factors affecting the price of Bitcoin which has recently received a lot of attention. Specifically, we distinguish three factors of supply and demand, real economic factors, and psychological factors, and examine the effect of these variables on Bitcoin price. This is related to the issues that crypto-currency can function like real money, or it can replace financial investment assets such as existing stock markets as an investment alternative, what effect it has on the real economy, and it will rely on investors’ attention and psychology. The results of this study show that the price of Bitcoin is more influenced by investors’ attention and psychological factors such as Naver trend index and newspaper articles, rather than being influenced by rational variables such as supply and demand variables or real economic variables. This means that Bitcoin fever and downfall were more likely to be irrational bubbles than were supported by economic value. Key words: Crypto-Currency; Bitcoin; Real Economy; Demand and Supply; Psychological Factor JEL Classification: G11, G12, G41

Mark Anthony Camilleri

Smart technologies are shifting how tourism and hospitality businesses capture, analyse and distribute data from the individual users’ online activity. This contribution critically reviews the latest developments on big data analytics and programmatic advertising. Moreover, the research also sheds light on the use of blockchain’s distributed ledger technology as it can be used to facilitate secure, verified transactions among marketplace stakeholders. The findings suggest that tourism service providers are increasingly utilising tracking, geolocation technologies as well as programmatic advertising tools to target and re-target individuals online. However, individuals and organisations are becoming increasingly aware of data protection issues, and they often block marketers from tracking them, and serving them ads. In conclusion, this research implies that data-driven technologies facilitate the businesses’ customer-centric marketing.

Hugo Pieter Wouda, Raymond Opdenakker

Purpose The transaction process of an office building is known to be time consuming and inefficient, in part due to the lack of market transparency. The purpose of this paper is to focus on the development of a blockchain application that can improve the transaction process of office buildings in the Netherlands. Design/methodology/approach Conducting design science research, the current transaction process of an office building and status quo of blockchain technology in real estate is investigated. Subsequently, multiple parties are interviewed to define major pain points within the process. The interview findings are used to design a blockchain solution which overcomes the aforementioned pain points. After designing, the interviewees are asked again to pragmatically validate the proposed model. Findings One of the major pain points identified concerning the transaction process of an office building is that it is difficult to define the characteristics of a property, due to lack of data structure and quality. The proposed application improves the way specific assets are understood by structuring physical and contractual information in one place and guarantees the quality of the data by using the blockchain mechanisms. Practical implications A blockchain application is proposed, which can improve the transaction process of an office building. Originality/value Recent studies indicate that blockchain technology could lead to improvements in efficiency, transparency and therefore trust within the transaction process. Therefore, the proposed application is of value for the future of real estate data management and the transaction process.

Reno Varghese George, Hari Om Harsh, Papri Ray, Alex K. Babu

No abstract is available for this record.

Saeed Alzahrani, Tuğrul Daim

In the recent years, there has been a massive attention toward cryptocurrency. The development of the blockchain technology has enabled the cryptocurrency to invade the financial industry by providing, to some extent, an alternative banking system with extra benefits such as lower cost of transaction, faster transaction processing, and higher level of privacy. Bitcoin is the first completely decentralized digital currency to exist in the cryptocurrency market. People have adopted cryptocurrency for several reasons. This adoption is a purchasing decision where the users make the adoption decision based on set of factors that matter to them. This paper aims at evaluating the factors impacting the cryptocurrency adoption decision. To do so, we have identified the factors that the users consider when making the purchasing decision based on a comprehensive review of recent literature and expert's inputs. The objectives of the paper are to: (1) identify the factors impacting the adoption decision, (2) and determine the ranking of these factors based on the quantification of users' judgments. This paper proposes a Hierarchical Decision Model (HDM) to understand the users' decision to adopt cryptocurrency. The model suggests four main perspectives that influence the adoption decision namely: economic, technical, social, and personal. Every perspective consists of set of related criteria. We then used the pairwise comparison method to assess the importance of the perspectives and criteria to the overall objective of the model. The findings of this study suggest that users evaluate and make their decision mostly from economic and social perspectives. The top criteria found to influence the cryptocurrency adoption decision are the investment opportunity, subjective norms, businesses acceptance, privacy, and global attention. This paper provides insights into the factors impacting the adoption decision and their importance level. It also helps the cryptocurrency developers to understand the consumers' adoption criteria to encourage cryptocurrency adoption.

Achilleas Boukis

Purpose The purpose of this conceptual paper is to delve into the implications of blockchain technology adoption for brands and consumers. Drawing on the existing branding literature and real-life applications of blockchain, the challenges, risks and opportunities from blockchain adoption for four important areas of the branding literature are canvassed (i.e. brand positioning and corporate brand image, consumer–brand relationships, online brand communication and consumers’ trust in the brand). Also, a future-oriented discussion is provided that highlights some important avenues for researchers in the field. Design/methodology/approach This conceptual paper sheds light on the potential implications of blockchain technology for brand–consumer relationships. To do so, an analytical review of the blockchain literature is conducted, the nature of blockchain technology is presented and its unique features and functions for brand–consumer interactions are discussed. Findings This paper ignites an exploratory discussion around how blockchain applications and platforms can affect consumer–brand relationships, drawing on a number of real-life examples of blockchain adoption. This discussion sheds light on how blockchain features can impact on various areas of interest for strategic brand management, such as the adoption of digital currencies, brand storytelling, use of blockchain-enabled loyalty programmes, role of intermediaries in online advertising, counterfeit consumption, brand transparency and trust for brands in online marketplaces, amongst others. Originality/value This is one of the first conceptual efforts in the branding literature that draws on the scarce existing knowledge around blockchain adoption and discusses the potential implications of blockchain technology for brands and consumers whilst also providing directions for future research.

Tantham Rungvithu, Chutisant Kerdvibulvech

Conversational commerce has become an emerging global marketing communication trend in the past few years. Recent studies suggested some beneficial aspects of conversational commerce in customer satisfaction, while some claimed different areas that conventional (traditional) commerce still excels in. Therefore, this research examined and compared conversational commerce with conventional commerce in terms of customer satisfaction towards Thai urban office employees, which helped to determine areas of improvement for conversational commerce sellers. Accordingly, a convenient sampling quantitative and qualitative surveys were conducted with the sample size of 50 (n=50), on Thai office employees aged 22-60 years. Nine different customer satisfaction factors and commentary session were employed to determine the effectiveness and winner of each commerce type via vertically designed ordinal Likert Scales. Cryptocurrency research is also conducted using interviews as a data collect method.

Tim Reimers, Felix Leber, Ulrike Lechner

This short paper presents a proof-of-concept prototype how distributed ledger technology can be used to ensure transparency of production: the blockchain collects data from machines and sensors, ensures integrity of information, integrates a database and enables traceability. The prototype is developed according to the design science paradigm to demonstrate the principles of blockchain and Internet of Things integration in an automotive manufacturing use case. We present an information system architecture for a traceability system based on blockchain technology and Internet of Things.

Ashok K. Pundir, Jadhav Devpriya Jagannath, Mrinmoy Chakraborty, L. Ganpathy

Supply chain networks are global, multi-modal platforms that are expected to facilitate seamless exchange of physical goods, information across multiple industries and enterprises and stakeholders. Current supply chain information systems are limited in term of providing validated, real-time asset specific business relevant information during its lifecycle. Only one or few stakeholders have information access privilege causing both information asymmetry and inefficiencies in the $35T global supply chain market. Emerging technologies such as IoT and Blockchain democratize "trustworthy" data availability and empower stakeholders to make the right decision at the right time in the most cost-effective manner. Digital supply chain integration is progressively becoming a competitive differentiation of enterprises. Organizations leading to this approach of digital supply chain are rapidly improving their asset utilization and enabling new databased services. This paper presents the idea about relevance of complementary technologies like IoT and Blockchain technology for complete digitization of supply chain. The business case of pallet renting vendor is taken to showcase the use of technology integration to improve efficiency of its supply chain and asset management.

Higinio Mora, Raquel Pérez‐delHoyo, Rafael Mollá Sirvent, Virgilio Gilart-Iglesias

No abstract is available for this record.

Nurgün KOMŞUOĞLU YILMAZ, Hülya Boydaş Hazar

Purpose-Trade goods have been used as exchange mediums since the first humans. A thousand years ago currency was invented, and it became the dominant exchange medium in today's world. The history of money did not end with the invention of fiat currency, such as US Dollar or Euro. Cryptocurrency is the new development. It is not a trade good, nor a fiat money. "It is a new, experimental kind of money." In this study our purpose is to analyze the factors influencing investors' decision making on investment in cryptocurrencies by using conjoint analysis. Studies suggest that some attributes of cryptocurrencies affect decisions of investors. In this study, the attributes at different levels related to investors' expectations on cryptocurrencies are examined. Methodology-In this study, conjoint analysis has been conducted. Conjoint method is a statistical analysis method and by using this method researchers determine the value of the attributes of a product or a feature for its consumers. Conjoint analysis is a method for analyzing preferences of customers; it is a useful tool for predicting and determining responses of customers to new product features and totally new products. In this case customers are investors and the new product is cryptocurrencies. Conjoint analysis has several types, choice based conjoint analysis is one of them and it is the preferred method for most of the researchers. Findings-Data collected for the study has been analyzed by using Marketing Engineering for Excel software. The findings of the study indicate that profitability, bookkeeping and security are the most important attributes which influence expectations of investors in cryptocurrencies. Five attributes with five levels each are chosen. It is predicted that these attributes are the most important indicators of investor behavior. According to research findings, most important attribute for investors is profitability. This study confirms that the majority of investors have high profit expectation from crypto currencies. But study results also include some unexpected findings. Anonymity is not one of the main concerns for investors and almost equal number of investors prefers very high and very low level of bookkeeping.

Maciel M. Queiroz, Samuel Fosso Wamba

No abstract is available for this record.

Alexandre Arnaldo Boschi, Rogerio Borin, Julio Cesar Raimundo, Antônio Batocchio

No abstract is available for this record.

Christian Năsulea, Stelian-Mihai Mic

Objectives: Incorporating new technologies into the development of smart cities means rethinking the way different services are provided. From this perspective, Blockchain might represent the future of both smart cities and smart communities as it offers new alteratives for individuals and institutions.

Paul Ovidiu Handro

We are part of historic changes in terms of profoundness and velocity in all industries and in customers’ expectations. The aim of this paper is to create an overview of a new age in customer experience generated by a banking environment disturbed by the raising of Financial Technology. Firstly, the article is reviewing the customer experience concept from academic and practitioner perspective. It is making a literature review and additionally is bringing into attention the common elements of customer satisfaction and service quality which are considered an antecedent of customer experience. Furthermore, it is reminded that the latest developments in communications and information technology are intensely changing customers’ demands and expectations resulting a total transformation in the way that customers are interfering with the service providers. Secondly, is debating the subject of how financial service industry should balance customer experience expectations, considering that the banks are activating in an environment disrupted by the raise of distributed ledger technology, machine learning, big data analytics, roboadvice and other technology/digitalization proliferated by the FinTechs. Lastly it is analyzed how European regulatory bodies are seeing and managing the new technologies and FinTechs, how agile should be in an ecosystem that is very dynamic and governed by a customer with a lot of choices, good or bad, risky or non-risky, in front of his decision.

Alexander Babkin, Т. А. Головина, A.V. Polyanin, Yulia Vertakova

The modernization of traditional process and service industries, organization of trading and procurement procedures, related financial and logistical operations, change in the structure of consumption associated with the through penetration of information technologies and digitization of economic processes creates the basis for formation of new markets and conditions for their functioning. As employees, consumers, businesses, and manufacturing processes become increasingly related as a single digital space, digitalization offers wide possibilities for new decision-making models being the basis for ongoing global economic and social transformations which change business and consumer models, one of which is the sharing economy. The digital model of sharing economy will be developed and transformed in the next few years to achieve the main purpose – the use of unengaged or underused assets in the economy. In this regard, the search for new tools and technologies for business models development is vital. The authors present the content, advantages, current state and prospects for development of the distributed registry technology (blockchain). It is presented that it will increase transparency, security and efficiency of transactions of economic entities in various financial and non-financial fields. A transactional model of the economic system based on the blockchain technology is presented. The sharing economy features and characteristics are given.

Lars Aasland, Eirik Skei Lerfald

Denne avhandlingens mål er å analysere om medieoppmerksomhet er en drivende faktor i etterspørselen etter Bitcoin, og på så måte avkastning på Bitcoin. Et nyttig verktøy i denne analysen er å kategorisere Bitcoin. De to hovedspørsmålene som da vil bli besvart er:\n(i) Hva slags finansielt aktivum kan Bitcoin kategoriseres som?\n(ii) Hvordan påvirker medieoppmerksomhet Bitcoin?\nDette er gjort ved å først presentere et teoretisk rammeverk for prisdannelse hvor investorers interesse er forklart i en variable for medieoppmerksomhet. Ved å bygge videre på dette rammeverket blir Bitcoins funksjonalitet som en valuta i samfunnet i dag analysert og sammenlignet ved bruk av det tradisjonelle rammeverket for penger vi kjenner til. Dette er videre analysert ved hjelp av volatilitetsprosessene til Bitcoin og andre finansielle aktivum. Funnene fra denne analysen tyder på at Bitcoin ikke kan klassifiseres sammen med tradisjonelle finansielle aktivum, og på så måte er et spekulativt finansielt aktivum som står på egenhånd. Videre blir det funnet at medieoppmerksomhet gjør Bitcoin mer attraktiv for investorer og er en driver av etterspørsel. Denne spekulative driveren av etterspørsel sammenfaller godt med kategoriseringen av Bitcoin som et spekulativt aktivum.