Blockchain Papers

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No abstract is available for this record.

Xi Zhao, Peilin Ai, Fujun Lai, Xin Luo · 5 authors

Abstract In the emerging platform economy, blockchain technologies are reshaping the digital economy. Moreover, disintermediation and decentralization have broken new ground for platform organizations and management mechanisms and instigated the concept of a DAO ( Decentralized Autonomous Organization ). Recent literature on operations management has called for further research on governance issues related to DAOs. In response to this call, we explore the relationship between DAO management efforts and platform performance in this study. Specifically, we propose and theoretically articulate decentralized voting tasks in DAOs as a new form of organizing. Harnessing both online and on‐chain data from seven sources, we empirically examine how voting task division, task allocation, reward distribution, and information provision affect platform performance in the context of MakerDAO (an Ethereum‐based stablecoin issuance platform). Our findings reveal that strategic decisions arrived at through voting have a positive impact on platform operational performance under certain conditions, whereas operational decisions resulting from voting have a negative impact. Moreover, we elucidate the moderating effects of voting task execution characteristics on the relationship between completed decision tasks and operational performance. These findings have important implications from both theoretical and practical perspectives. We also share all the raw data we use to promote the development of blockchain‐related empirical research.

Yugang Yu, Yifei Luo, Ye Shi

No abstract is available for this record.

Ankit Bansal, Osman Y. Özaltın, Reha Uzsoy, Karl G. Kempf

Abstract Product transitions involve the replacement of products currently being produced and distributed by a firm with new products throughout the firm's supply chain. In high technology industries effective management of product transitions is crucial to long‐term success, and involves the coordination of multiple product development units and a manufacturing unit by a product division serving a particular market. Since the different units are organizationally autonomous, and the product division does not have access to their detailed technological constraints and internal operating policies, a decentralized solution is required. We develop a price‐based coordination framework using the subadditive dual of a mixed‐integer linear program that seeks to maximize the number of units whose proposed plans are included in the final solution. The proposed approach yields superior solutions to a linear‐programming‐based branch‐and‐price approach within the same computing budget. We discuss the broader applicability of this integer column generation approach, and suggest directions for future work.

Xin Tian, Jiayi Zhu, Xuan Zhao, Junfeng Wu

Based on the practical needs of cross-border trade between Yunnan Province, China, and Southeast Asian countries, this paper studies the impact of blockchain technology usage on operational performance. Owing to immutability and traceability, the implementation of a blockchain-based platform solves several existing problems of cross-border trade. We conducted a field experiment to verify the effect of blockchain technology on the operational efficiency of cross-border trade companies. The results show that operational, agency, and time costs significantly decrease. Blockchain usage reduces the intermediary agencies of cross-border trade and settlement payment for traders, also improves the timeliness of business processing and the efficiency of cross-departmental business collaboration. This study provides new insights on the interface of blockchain technology and supply-chain operation management.

Cheng Ling Tan, Zhongkai Tei, Sook Fern Yeo, Kee‐hung Lai · 6 authors

Purpose Digital transformation (DT) in the semiconductor industry goes beyond traditional business operations and supply chain management (OSCM) to the digital world. Despite significant developments in recent years, blockchain implementations for OSCM remain relatively underdeveloped in the semiconductor industry. Therefore, this research aims to examine the relationships between blockchain visibility, supply chain integration (SCI) and supply chain performance (SCP) in the era of DT in Malaysia's semiconductor industry to shed light on this emerging area. Design/methodology/approach A convenience sampling of 71 operations and supply chain managers attached to semiconductor manufacturing firms in Malaysia were invited to participate in a survey. In assessing blockchain visibility within the industry, key terms namely business intelligence gathering, information exchange, information technology (IT) and knowledge of asset status, were conceptualised from the literature review. The questionnaires developed to collect data were validated by industry and academic experts. Findings The results from the analysis confirmed that SCI mediates the link between blockchain visibility (information exchange, business intelligence gathering and knowledge asset status) and SCP. Likewise, the importance-performance matrix analysis (IPMA) outcomes revealed that IT played a minor role. The results suggested that semiconductor manufacturers should pay less attention to IT since this was identified as having the least priority towards improvement. Practical implications The outcomes from this research enable policymakers to strategise and integrate blockchain technology in the era of DT to ensure sustainable SCM in the semiconductor industry in Malaysia. Originality/value The research bridge the knowledge gap by revealing the value that blockchain visibility can facilitate SCP and explore SCI as the prevailing factor and demonstrates how Resource-Based Theory and Network Theory can be applied in this study.

Lei Li, Yong Yan, LUO Yangfan, ZHANG Tianhan · 7 authors

Demand response is an important way to balance the power supply and demand， and to wake up user-side resources. In view of data trust， privacy protection， transaction efficiency and other issues of current demand response business， a solution based on smart contract on blockchain is proposed. First， according to the invited demand response mechanism， the pain points and difficulties of the current business mechanism are analyzed. Then， the smart contract on blockchain is introduced to construct the technical framework of the invited demand response framework based on smart contract， to design the operation mechanism and the related smart contract functions.， and to analyze the technical advantages of the smart contract on blockchain applied in the demand response business. Finally， the deficiencies of this mechanism are discussed， and the future development direction of demand response business based on blockchain technology is discussed concerning demand response service increase， transaction system improvement， user-side interaction enhancement， and timeliness advancement.

Kavyan Zoughalian, Jims Marchang, Bogdan Ghita

Counterfeiting drugs has been a global concern for years. Considering the lack of transparency within the current pharmaceutical distribution system, research has shown that blockchain technology is a promising solution for an improved supply chain system. This study aims to explore the current solution proposals for distribution systems using blockchain technology. Based on a literature review on currently proposed solutions, it is identified that the secrecy of the data within the system and nodes' reputation in decision making has not been considered. The proposed prototype uses a zero-knowledge proof protocol to ensure the integrity of the distributed data. It uses the Markov model to track each node's 'reputation score' based on their interactions to predict the reliability of the nodes in consensus decision making. Analysis of the prototype demonstrates a reliable method in decision making, which concludes with overall improvements in the system's confidentiality, integrity, and availability. The result indicates that the decision protocol must be significantly considered in a reliable distribution system. It is recommended that the pharmaceutical distribution systems adopt a relevant protocol to design their blockchain solution. Continuous research is required further to increase performance and reliability within blockchain distribution systems.

Shahbaz Khan, Mohit Kaushik, Rajeev Kumar, Waseem Khan

Purpose Blockchain is an evolving technology that has an impact on a variety of industries and related operations including food supply chain. There are several challenges associated in the implementation of blockchain in the food supply chain. As a result, the goal of this research is to identify and analyse the barriers associated with the implementation of blockchain in food supply chains. Design/methodology/approach A comprehensive literature review is conducted to identify 16 primary barriers associated with the implementation of blockchain technology in the food supply chain and experts finalise these identified barriers and further categorise them into four groups. Furthermore, the best worst method is used to prioritise the finalised barriers. Findings The findings suggest that “technological barriers” and “organisational barriers” are primary barriers among the identified barriers for the implementation of blockchain. These barriers could be mitigated through supply chain collaboration, efficient blockchain technology development through research and development, and increasing technical competence. Research limitations/implications In terms of limitation, there is a possibility that some barriers were overlooked in the literature review process, and expert judgement might be prejudiced. This paper examines the blockchain implementation in the food supply chain, to assist policymakers in overcoming these barriers and ensuring effective adoption. Originality/value This study focuses on the effective implementation of blockchain technology in the food supply chain in the context of emerging economies.

Sandip Rakshit, Nazrul Islam, Sandeep Mondal, Tripti Paul

This study examines the impact of blockchain technology (BCT) on small and medium-sized enterprises’ (SMEs) internationalization. Further, it examines how Amazon as a platform reframes the global partnership environment via the BCT network that enables Indian SMEs to operate globally. Data were collected from 291 employees at 43 high-tech SMEs in India. They revealed untapped interest in how Indian SMEs will use Amazon for global operations. Several factors, such as processes to strategize, synergize, and standardize, are described as needing to be addressed before SMEs can boost integrated business efficiency, especially with regards to marketing capacity, scale, scope, and financial performance. The study represents a critical theoretical contribution to Amazon-based global operations by developing the 3S Triangle Model, which could provide a basis for future business practice. Furthermore, the study defines and addresses the evolution of BCT that Amazon has used—and continues to use—as a global operations platform. At the convergence of BCT, Amazon, and global retail activities, we propose and advance an integrated model of BCT-driven global operations among SMEs that provides a holistic view of state-of-the-art practices and exciting avenues for future study.

Lingling Guo, Jingjing Chen, Shihan Li, Yafei Li · 5 authors

Supply Chain Finance (SCF) refers to the financial service in which banks rely on core enterprises to manage the capital flow and logistics of upstream and downstream enterprises. SCF adopts a self-testing and closed-loop credit model to control funds and risks. The key factor in a successful SCF service is the deployment of SCF business-oriented information systems that allow businesses to form partnerships efficiently and expedite cash flows throughout the supply chain. Blockchain Technology (BCT), featuring decentralization, tamper-proofing, traceability, which is usually paired with the Internet of Things (IoT) in real-world contexts, has been widely adopted in the field of finance and is perfectly positioned to facilitate innovative collaborations among participants in supply chain networks. In this paper, we propose a BCT and IoT-based information management framework (named BC4Regu), which works as the regulatory to improve the information transparency in the business process of SCF. With BC4Regu, the operation cost of the whole supply chain can be significantly reduced through the coordination and integration of capital flow, information flow, logistics and trade flow in the supply chain. The contributions in this paper include: (1) proposing a novel information management framework which leverages Blockchain and IoT to solve the problem of information asymmetry in the trade of SCF; (2) proposing the technical design of BC4Regu, including the Blockchain infrastructure, distributed ledger-based integrated data flow service, and reshaped SCF process; and (3) applying BC4Regu to a group of scenarios and conducting theoretical analysis by introducing the principal-agent model to validate the BC4Regu.

Weihua Liu, Jingkun Wang, Fu Jia, Tsan‐Ming Choi

Purpose This study aims to explore the impact of blockchain announcements on enterprises' stock market value. Design/methodology/approach Based on resource-based theory, this study constructs a complete framework of the impact mechanism of blockchain announcements on the stock price of the announcing firm using the data of 143 blockchain announcements. An event study methodology is used in this research, and the market model, market-adjusted model and Carhart four-factor model are used to estimate stock abnormal returns after the blockchain announcement; and the cross-sectional regression model is used to test the influencing factors. Findings Blockchain announcements elicit a significantly positive market reaction on the release day. Compared to announcements not pertaining to technical innovation, blockchain technical innovation announcements exhibit a more positive market reaction towards the announcing companies. Strategic-level announcements exhibit a more positive market reaction than operational-level announcements. Enterprise characteristics, such as enterprise-scale and enterprise innovation ability, do not affect stock market reactions to blockchain announcements. Practical implications The findings reveal the economic value of conducting blockchain activities in the Chinese stock market. Findings of this study can help managers understand the value of implementing blockchain activities in a different market environment and guide them on how to improve the market value of their enterprises through the active implementation of blockchain activities. Originality/value To the best of the authors’ knowledge, this is the first event study to focus solely on the value of pure blockchain announcements in an emerging market. This study considers multiple resource and capability factors that would influence blockchain technology adoption, improve the current understanding of how blockchain announcements affect corporate stock prices and provide directions for future comparative studies of market reactions to blockchain announcements in different stock markets.

Feng Tao, Yao‐Yu Wang, Shi-Hu Zhu

We investigate how blockchain technology influences optimal pricing and quality decisions under two different supply chain structures. In both cases, the supplier is the leader and plays a Stackelberg game with downstream platform(s). Specifically, the supplier determines the wholesale prices and quality levels of the products, and the platform(s) decides the selling prices. Based on our analysis, we find that when consumer acceptance of blockchain is low, among the two products in the single platform, the products with blockchain technology have not only a high quality but also a low price. However, in the case of the two competitive platforms, although blockchain will also enable the platform that uses this technology to provide products with a high quality and low price, its advantages are not obvious. Nevertheless, in comparing the two cases, when consumer acceptance is high, the two competing platforms tend to provide products with a high quality and low price, regardless of whether or not the products use blockchain technology. Our conclusions reveal that although blockchain will benefit a supplier and consumers, in some cases, the supplier will have an incentive to decrease the quality level of the products with blockchain technology, which will eventually negatively affect consumers.

Korawit Fakkhong, Nattaphon Rangsaritvorakarn, Chairerk Tantitecha

Agri-foods that generally made purchased at traditional markets are now increasingly made purchased at modem trade market chains - supermarkets, particularly developing country. This offers particular opportunity for food producers if they can adhere to the exacting supplier standards and systems dictated by supermarket chains particularly quality assurance. Rural farmers can find themselves excluded from dealing with such bodies because they do not have the resource to implement the necessary systems to guarantee process quality. There is increasing need to develop more efficient and effective logistics operation in order to better integrate Thailand’s agri-food industry particularly food producer into this important business sector. The blockchain in its guise as distributed ledger’s allow encrypted information regarding each transaction to be securely shared between the relevant parties and offers a new approach for enhancing transparency and traceability between business and food producer, as well as the government organisations. This paper introduces the challenges currently faced by food producers and demonstrates how blockchain could potentially integration and improve service reliability for food producers.

Taab Ahmad Samad, Rohit Sharma, Kunal K. Ganguly, Samuel Fosso Wamba · 5 authors

No abstract is available for this record.

Sharfuddin Ahmed Khan, Muhammad Shujaat Mubarik, Simonov Kusi‐Sarpong, Himanshu Gupta · 6 authors

Abstract The advent of blockchain technologies is transmuting the way conventional supply chains are being managed. Due to the complexity of dealing with many actors involved in the supply chain networks, contemporary supply chains have limited visibility, transparency, and accountability. Likewise, supply chains are increasingly facing the challenge of integration and sustainability. In this vein, blockchain technologies can play a groundbreaking role in improving the traceability, accountability, and sustainability of complex supply chain networks. The present study examines the instrumentality of blockchain technologies in enabling supply chain mapping and supply chain integration. The study also tests the direct impact of blockchain technologies on supply chain sustainability. Data are collected from 132 Malaysian Electrical and Electronics firms using a close‐ended questionnaire. The study employs Partial Least Squares‐Structural Equation Modelling (PLS‐SEM) and Partial Least Squares‐Multi Group Analysis (PLS‐MGA) for analyzing the hypothesized relationships. The results show that blockchain technologies do not have a direct impact on supply chain sustainability. Nevertheless, this finding reveals a robust indirect effect of BT, through SC integration and SC mapping, on the SC sustainability. The study's findings imply that the notion of the sustainable supply chain can be significantly attained by mapping upstream, midstream, and downstream supply chains. The well‐mapped supply chain can further improve supply chain sustainability. The findings of the study also suggest the adoption of blockchain technologies as a broad‐based strategy to attain multi‐tier goals, for example, supply chain mapping, sustainability, and integration.

Jae‐Young Oh, Yunsik Choi, Joonhwan In

Despite the growing popularity of blockchain technology (BT) applications in a supply chain (SC), the academic literature has failed to offer a complete picture of BT embedded in SC, hereafter referred to as BT-enabled SC, while focusing on BT’s specifics. Against this backdrop, this paper aims to develop a conceptual framework by identifying BT’s multifaceted features and clarifying their roles in designing BT-enabled SCs. Specifically, we delve into BT’s extant definitions in business disciplines as a basis for identifying BT’s key attributes and elucidate how these attributes can be incorporated into the design of BT-enabled SCs by introducing the framework that encompasses the strategic, configural, and operational spheres. This paper contributes to clarifying BT’s conceptual boundary by framing BT as a stack of technologies and applications – seven dimensions. Based on seven dimensions, the proposed framework offers guidance on how to design BT-enabled SCs.

Antonella Moretto, Laura Macchion

Abstract The critical role of blockchain technology in ensuring a proper level of traceability and visibility along supply chains is increasingly being explored in the literature. This critical examination must focus on the factors that either encourage or hinder (i.e. the drivers or barriers) the implementation of this technology in extended supply chains. On the assumption that the blockchain will need to be adopted at the supply chain level, the enabling factors and the contingent variables of different supply chains must be identified and analysed. The appropriate identification of supply chain partners is becoming a critical factor of success since the globalization of supply chains makes their management and control increasingly difficult. This is particularly true of the fashion industry. Five blockchain providers and seven focal companies working in the fashion industry were interviewed to compare their different viewpoints on this topic. The results highlight which drivers, barriers, and supply chain variables impact the implementation of the blockchain and specific research propositions are formulated.

K. Yan, Linmu Cui, Hang Zhang, S. Liu · 5 authors

Blockchain technology has subverted traditional supply chain operational models and transformed information interactions along supply chains. This paper examines the impact of blockchain technology on supply chain information collaboration and operating costs. This paper develops a three-level supply chain model based on blockchain technology that incorporates retailer sensitivity to information. First, the manufacturer’s profit function is developed, and the optimal information-sharing quantity and supply chain pricing decisions are analysed. Then, cost models for both the traditional supply chain and the novel supply chain using blockchain technology are developed and the impact of blockchain technology on supply chain operating costs is determined. The results demonstrate that blockchain technology can effectively reduce supply chain operating costs. In addition, this study has an interesting finding that if blockchain adoption is valuable for the supply chain, the quantity of information-sensitive should be moderate. Too many or too few information-sensitive retailers can reduce the value of the blockchain's use. This is because blockchain is implementation will increase the privacy concerns of supply chain companies.

Tsan‐Ming Choi, Tana Siqin

No abstract is available for this record.

Matthias Lohr, Kenneth Skiba, Marco Konersmann, Jan Jürjens · 5 authors

Existing fair exchange protocols usually neglect consideration of cost when\nassessing their fairness. However, in an environment with non-negligible\ntransaction cost, e.g., public blockchains, high or unexpected transaction cost\nmight be an obstacle for wide-spread adoption of fair exchange protocols in\nbusiness applications. For example, as of 2021-12-17, the initialization of the\nFairSwap protocol on the Ethereum blockchain requires the selling party to pay\na fee of approx. 349.20 USD per exchange. We address this issue by defining\ncost fairness, which can be used to assess two-party exchange protocols\nincluding implied transaction cost. We show that in an environment with\nnon-negligible transaction cost where one party has to initialize the exchange\nprotocol and the other party can leave the exchange at any time cost fairness\ncannot be achieved.\n

Bing‐Bing Cao, Tian‐Hui You, Carol Xiaojuan Ou, Hui Zhu · 5 authors

No abstract is available for this record.

Anup Kumar, Santosh K. Srivastava, Sarbjit Singh

Purpose This study aims to formulate a conceptual sustainable framework for developing a trusted, reliable, scalable, transparent, traceable and sustainable agri-food supply chain in a developing country so that it minimizes wastage and increases the efficiency levels of agri-produce and its usage. Design/methodology/approach This study uses a rigorous review of extant literature, case studies and the interview method for theory building, using blockchain technology (BT) as a subject. Further, the study builds a framework to relate blockchain solutions to the challenges faced by the agri-supply chain. Notably, the use of BT in the agri-food supply chain is a relatively new area of study. Findings Limitations of using BT 3.0 in a diverse supply chain like the food sector, especially in a developing country such as India, may be overcome by adopting BT 4.0 and could change the country’s face by controlling inefficiencies and ensuring transparency, helping in good governance, improving the humanitarian supply chain and integrating the bottom of the pyramid to the main economy. Based on the findings, this study proposes BT 4.0 for the agri-supply chain in India to deal with the current issues of demand-supply gap, wastages of agri-produce, unequal distribution of profit among agriproduct producers and logistics suppliers and ensuring sustainability. Research limitations/implications Results in this study have been derived from a specific demographic condition in India. Future research with other demographic conditions may be replicated. BT is a new technology product, and its effectiveness is yet to be established. Practical implications The outcome of this study provides the application of BT 4.0 in the area of the agri-food supply chain. The BT 4.0 framework has been developed on studying a few cases that either implemented BT or were in the testing phase. The benefits of the agri-food supply chain vis-à-vis its overall social well-being may be achieved on the successful implementation of the framework, despite existing complexities in the food supply chain. Further research on this subject may help the other dimensions of the complexity of adopting BT 4.0. Both practitioners and policymakers from developing countries can, therefore, use the findings of this study to analyze BT 4.0 and address the concerns of the agri-food supply chain. Originality/value This research paper has proposed a conceptual framework of BT 4.0, which is a completely new technology. It is fairly transparent, and therefore sustainable supply chain practices may be achieved easily.

Anurag Gupta, Vikram Krishnamurthy

Tangle is a distributed ledger technology that stores data as a directed acyclic graph (DAG). Unlike blockchain, Tangle does not require dedicated miners for its operation; this makes Tangle suitable for Internet of Things (IoT) applications. Distributed ledgers have a built-in transaction rate control mechanism to prevent congestion and spamming; this is typically achieved by increasing or decreasing the proof of work (PoW) difficulty level based on the number of users. Unfortunately, this simplistic mechanism gives an unfair advantage to users with high computing power. This paper proposes a principal-agent problem (PAP) framework from microeconomics to control the transaction rate in Tangle. With users as agents and the transaction rate controller as the principal, we design a truth-telling mechanism to assign PoW difficulty levels to agents as a function of their computing power. The solution of the PAP is achieved by compensating a higher PoW difficulty level with a larger weight/reputation for the transaction. The mechanism has two benefits, (1) the security of Tangle is increased as agents are incentivized to perform difficult PoW, and (2) the rate of new transactions is moderated in Tangle. The solution of PAP is obtained by solving a mixed-integer optimization problem. We show that the optimal solution of the PAP increases with the computing power of agents. The structural results reduce the search space of the mixed-integer program and enable efficient computation of the optimal mechanism. Finally, via numerical examples, we illustrate the transaction rate control mechanism and study its impact on the dynamics of Tangle.