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The impact of blockchain on business models in banking

Rajnak, Viktoria; Puschmann, Thomas (2021). The impact of blockchain on business models in banking. Information Systems and e-Business Management, 19:809-861.

Abstract

Blockchain technology is predicted to reshape existing business models of the financial services industry. But although blockchain is often seen as a strategic technology, research focusing on its impact on business models is still rare. This research derives a hypotheses model that connects IT innovations with the three generic value disciplines of banks “operational excellence”, "customer intimacy" and “product leadership” as well as the four generic elements of business models "what", "who", "how" and "value". A business model acts as a mediator for IT innovation. To test the hypothesis model data provided from an international survey of 104 financial services institutions and start-up companies was applied. The results support the hypothesis that all three value disciplines might be impacted by blockchain technology in the future. The regression analysis reveals that especially banks’ operations could be significantly changed. With these results, this research contributes to the emerging literature on blockchain and business models and the strategic use of IT.

Additional indexing

Item Type:Journal Article, refereed, original work
Communities & Collections:03 Faculty of Economics > Department of Finance
Dewey Decimal Classification:330 Economics
Scopus Subject Areas:Physical Sciences > Information Systems
Scope:Discipline-based scholarship (basic research)
Language:English
Date:2021
Deposited On:28 Jan 2022 06:16
Last Modified:17 Dec 2024 04:42
Publisher:Springer
ISSN:1617-9846
OA Status:Closed
Publisher DOI:https://doi.org/10.1007/s10257-020-00468-2
Other Identification Number:merlin-id:19575
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