Smart contracts to enable sustainable business models. A case study

PurposeThe objective of this study is to deepen how blockchain technology through smart contracts can support the development of sustainable business models (SBMs). Particularly, the authors aim to determine the key elements enabling SBMs by applying smart contracts.Design/methodology/approachThe re...

Full description

Saved in:
Bibliographic Details
Published in:Management decision 2020-12, Vol.58 (8), p.1601-1619
Main Authors: Dal Mas, Francesca, Dicuonzo, Grazia, Massaro, Maurizio, Dell'Atti, Vittorio
Format: Article
Language:English
Subjects:
Agreements
Automation
Blockchain
Business models
Case studies
Costs
Digital currencies
Efficiency
Energy consumption
Literature reviews
Stockholders
Sustainability
Technology
Trust
Value creation
Citations: Items that this one cites
Items that cite this one
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:PurposeThe objective of this study is to deepen how blockchain technology through smart contracts can support the development of sustainable business models (SBMs). Particularly, the authors aim to determine the key elements enabling SBMs by applying smart contracts.Design/methodology/approachThe research context focusses on the case study of SmartInsurance, which is a fictitious name for a start-up in the insurance sector and the real name of which is not to be revealed. The start-up was able to collect 18m euros in 80 s in a crowdfunding operation, using smart contracts and a revolutionary business model. Internal as well as external documents of different sources are analysed and coded to gather information about the company, its values and its business and what it pursues with employing blockchain technology.FindingsThe results show how smart contracts can reduce the costs of transactions, increase social trust and foster social proof behaviours that sustain the development of new SBMs.Originality/valueThis study contributes to both the transaction cost theory and social proof theory, showing how new technologies such as the blockchain can provide a fresh perspective to support the development of SBMs.
ISSN:0025-1747
1758-6070
DOI:10.1108/MD-09-2019-1266