[go: up one dir, main page]
IDEAS home Printed from https://ideas.repec.org/a/bla/srbeha/v38y2021i3p330-341.html
   My bibliography  Save this article

Conceptualizing blockchain‐based value co‐creation: A service science perspective

Author

Listed:
  • Monika Mačiulienė
  • Aelita Skaržauskienė
Abstract
Co‐creation and open innovation have become an important source of competitive advantage. Over the past decades, huge amounts of information have become accessible to the external stakeholders of the organizations, changing the traditional value creation processes. However, co‐creation comes with its challenges, including the complex engagement of stakeholders, difficulties in opening up value chains and issues of trust and intellectual property. The arrival of blockchain and cryptographic asset‐driven decentralized technologies has brought to the world an entirely new spectrum of possibilities regarding social, financial and technological innovations. Now it is possible to achieve superior levels of transparency, security and fairness to the public, especially when compared with the rather limited business models that dominate Web 2.0 commercial products. While the first applications of blockchain technology were for digital currency transactions, that same technology is now being applied to the development of the blockchain‐based decentralized platforms. This calls for research to integrate other relevant fields such as organizational management, public policy, community engagement and marketing. This qualitative preliminary study aims to build an integrative and transdisciplinary framework of blockchain service ecosystems based on theoretical premises of Service Science through which blockchain‐based value co‐creation can be analysed. The systemic approach presented in this paper provides much‐needed guidance for developers of decentralized organizations on how to create sustainable platforms and to maintain them profitable in the long run. The focus of the proposed conceptual model is to initiate a scholarly curiosity in understanding possible solutions and potential impact of blockchain technology in the way we collaborate as a society.

Suggested Citation

  • Monika Mačiulienė & Aelita Skaržauskienė, 2021. "Conceptualizing blockchain‐based value co‐creation: A service science perspective," Systems Research and Behavioral Science, Wiley Blackwell, vol. 38(3), pages 330-341, May.
    • Handle: RePEc:bla:srbeha:v:38:y:2021:i:3:p:330-341
    DOI: 10.1002/sres.2786
    as

    Download full text from publisher

    File URL: https://doi.org/10.1002/sres.2786
    Download Restriction: no
    File URL: https://libkey.io/10.1002/sres.2786?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Ying fan and Adonis Yatchew, 2016. "Introduction," The Energy Journal, International Association for Energy Economics, vol. 0(China Spe).
    2. Walid Al-Saqaf & Nicolas Seidler, 2017. "Blockchain technology for social impact: opportunities and challenges ahead," Journal of Cyber Policy, Taylor & Francis Journals, vol. 2(3), pages 338-354, September.
    3. Youngjin Yoo & Richard J. Boland & Kalle Lyytinen & Ann Majchrzak, 2012. "Organizing for Innovation in the Digitized World," Organization Science, INFORMS, vol. 23(5), pages 1398-1408, October.
    4. J. Leon Zhao & Shaokun Fan & Jiaqi Yan, 2016. "Overview of business innovations and research opportunities in blockchain and introduction to the special issue," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 2(1), pages 1-7, December.
    5. Shankar, Ravi & Gupta, Rachita & Pathak, Devendra Kumar, 2018. "Modeling critical success factors of traceability for food logistics system," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 119(C), pages 205-222.
    6. Sanjay Prasad & Ravi Shankar & Rachita Gupta & Sreejit Roy, 2018. "A TISM modeling of critical success factors of blockchain based cloud services," Journal of Advances in Management Research, Emerald Group Publishing Limited, vol. 15(4), pages 434-456, September.
    7. Morkunas, Vida J. & Paschen, Jeannette & Boon, Edward, 2019. "How blockchain technologies impact your business model," Business Horizons, Elsevier, vol. 62(3), pages 295-306.
    8. Mainelli, Michael & Smith, Mike, 2015. "Sharing ledgers for sharing economies: an exploration of mutual distributed ledgers (aka blockchain technology)," Journal of Financial Perspectives, EY Global FS Institute, vol. 3(3), pages 38-58.
    9. Kazadi, Kande & Lievens, Annouk & Mahr, Dominik, 2016. "Stakeholder co-creation during the innovation process: Identifying capabilities for knowledge creation among multiple stakeholders," Journal of Business Research, Elsevier, vol. 69(2), pages 525-540.
    10. Stephen L. Vargo & Robert F. Lusch, 2016. "Institutions and axioms: an extension and update of service-dominant logic," Journal of the Academy of Marketing Science, Springer, vol. 44(1), pages 5-23, January.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Lee, Jei Young, 2019. "A decentralized token economy: How blockchain and cryptocurrency can revolutionize business," Business Horizons, Elsevier, vol. 62(6), pages 773-784.
    2. Catarina Lemos & Ricardo F. Ramos & Sérgio Moro & Pedro Miguel Oliveira, 2022. "Stick or Twist—The Rise of Blockchain Applications in Marketing Management," Sustainability, MDPI, vol. 14(7), pages 1-16, March.
    3. Hughes, Alex & Park, Andrew & Kietzmann, Jan & Archer-Brown, Chris, 2019. "Beyond Bitcoin: What blockchain and distributed ledger technologies mean for firms," Business Horizons, Elsevier, vol. 62(3), pages 273-281.
    4. Min Xu & Xingtong Chen & Gang Kou, 2019. "A systematic review of blockchain," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 5(1), pages 1-14, December.
    5. Sharma, Luv & Olson, John & Guha, Abhijit & McDougal, Lori, 2021. "How blockchain will transform the healthcare ecosystem," Business Horizons, Elsevier, vol. 64(5), pages 673-682.
    6. Leng, Jiewu & Ruan, Guolei & Jiang, Pingyu & Xu, Kailin & Liu, Qiang & Zhou, Xueliang & Liu, Chao, 2020. "Blockchain-empowered sustainable manufacturing and product lifecycle management in industry 4.0: A survey," Renewable and Sustainable Energy Reviews, Elsevier, vol. 132(C).
    7. Lulwah AlSuwaidan & Nuha Almegren, 2020. "Validating the Adoption of Heterogeneous Internet of Things with Blockchain," Future Internet, MDPI, vol. 12(6), pages 1-17, June.
    8. Khalid Ahmed Al-Ansari & Ahmet Faruk Aysan, 2021. "More than ten years of Blockchain creation: How did we use the technology and which direction is the research heading? [Plus de dix ans de création Blockchain : Comment avons-nous utilisé la techno," Working Papers hal-03343048, HAL.
    9. Witold Nowiński & Miklós Kozma, 2017. "How Can Blockchain Technology Disrupt the Existing Business Models?," Entrepreneurial Business and Economics Review, Centre for Strategic and International Entrepreneurship at the Cracow University of Economics., vol. 5(3), pages 173-188.
    10. Jiang, Rong & Kang, Yuanjie & Liu, Yongsong & Liang, Zhihong & Duan, Yunlong & Sun, Yani & Liu, Jialan, 2022. "A trust transitivity model of small and medium-sized manufacturing enterprises under blockchain-based supply chain finance," International Journal of Production Economics, Elsevier, vol. 247(C).
    11. Morteza Ghobakhloo & Mohammad Iranmanesh & Andrius Grybauskas & Mantas Vilkas & Monika Petraitė, 2021. "Industry 4.0, innovation, and sustainable development: A systematic review and a roadmap to sustainable innovation," Business Strategy and the Environment, Wiley Blackwell, vol. 30(8), pages 4237-4257, December.
    12. Shou, Yongyi & Zhao, Xinyu & Dai, Jing & Xu, Dong, 2021. "Matching traceability and supply chain coordination: Achieving operational innovation for superior performance," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 145(C).
    13. Riya Sapra & Parneeta Dhaliwal, 2021. "Blockchain: The Perspective Future of Technology," International Journal of Healthcare Information Systems and Informatics (IJHISI), IGI Global, vol. 16(2), pages 1-20, April.
    14. Suvi Nenonen & Kaj Storbacka, 2021. "Market-shaping: navigating multiple theoretical perspectives," AMS Review, Springer;Academy of Marketing Science, vol. 11(3), pages 336-353, December.
    15. Qilei Ren & Ka Lok Man & Muqing Li & Bingjie Gao & Jieming Ma, 2019. "Intelligent design and implementation of blockchain and Internet of things–based traffic system," International Journal of Distributed Sensor Networks, , vol. 15(8), pages 15501477198, August.
    16. Niloofar Etemadi & Pieter Van Gelder & Fernanda Strozzi, 2021. "An ISM Modeling of Barriers for Blockchain/Distributed Ledger Technology Adoption in Supply Chains towards Cybersecurity," Sustainability, MDPI, vol. 13(9), pages 1-28, April.
    17. Matthias Fabian Gregersen Trischler & Jason Li-Ying, 2023. "Digital business model innovation: toward construct clarity and future research directions," Review of Managerial Science, Springer, vol. 17(1), pages 3-32, January.
    18. Jonathan Jan Pieters & Alinda Kokkinou & Ton Kollenburg, 2022. "Understanding Blockchain Technology Adoption by Non-experts: an Application of the Unified Theory of Acceptance and Use of Technology (UTAUT)," SN Operations Research Forum, Springer, vol. 3(1), pages 1-19, March.
    19. Mangla, Sachin Kumar & Kazancoglu, Yigit & Ekinci, Esra & Liu, Mengqi & Özbiltekin, Melisa & Sezer, Muruvvet Deniz, 2021. "Using system dynamics to analyze the societal impacts of blockchain technology in milk supply chainsrefer," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 149(C).
    20. Horim Kim & Jaeyoung Kim & Kyungmyung Jang & Jaemin Han, 2020. "Are the Blockchain-Based Patents Sustainable for Increasing Firm Value?," Sustainability, MDPI, vol. 12(5), pages 1-17, February.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:srbeha:v:38:y:2021:i:3:p:330-341. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://onlinelibrary.wiley.com/journal/10.1111/1092-7026 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.