How can blockchain technology disrupt existing business models?

Author Witold Nowiński, Miklós Kozma
Publisher Cracrow University of Ecomonics
Link View Research Paper


The paper provides a short overview of key literature on business models and innovation, indicating, among others, that new technologies may be one of the drivers of business model innovation.

This study also provides an overview of blockchain technology and a range of its business applications showing how it can disrupt business models. It is shown that blockchain technology may affect many dimensions of business models.

The authors of this research propose that there are three crucial ways in which blockchain technology can affect and disrupt models: by authenticating traded goods, via disintermediation and via lowering transaction costs.

This study provides an analysis of the possible impact of blockchain technology on business model innovation. Blockchain technology is
gaining momentum with more and more diverse applications, as well as increasing numbers of actors involved in its applications.

This paper contributes to overall understanding of the possible applications of blockchain technology to businesses, and in particular to its impact on business models.

This paper explores a very recent phenomenon and for this reason it relies on desk research of mostly professional sources. This methodological approach constitutes a limitation of the paper. As research on the topic expands, alternative methods, such as literature review, qualitative study based on direct feedback from companies using and developing blockchain technology or possibly also quantitative research verifying the propositions offered by this study may become more appropriate.