Start Date
11-12-2016 12:00 AM
Description
Emerging Blockchain technologies have received considerable attention in the financial services domain. This is due to the potential of those technologies to radically disrupt existing financial systems by introducing new types of assets and new ways of managing transactions. Yet many of these technologies are so new and seemingly complex that strategic decision-makers may not fully understand the alternative Blockchain technologies on offer, let alone the costs and benefits associated with specific instantiations. This paper reviews the Blockchain literature and identifies eight key system design characteristics. From this, four Blockchain archetypes emerge, each of which is presented using a recognizable existing system to allow tangible discussion of similarities and differences across archetypes. The identification of these archetypes provides an important foundation for future research, enabling in-depth research to be conducted that will outline the costs, benefits, risks, and issues associated with each archetype.
Recommended Citation
Walsh, Clara; OReilly, Philip; Gleasure, Rob; Feller, Joseph; Li, Shanping; and Cristoforo, Jerry, "New kid on the block: a strategic archetypes approach to understanding the Blockchain" (2016). ICIS 2016 Proceedings. 6.
https://aisel.aisnet.org/icis2016/Crowdsourcing/Presentations/6
New kid on the block: a strategic archetypes approach to understanding the Blockchain
Emerging Blockchain technologies have received considerable attention in the financial services domain. This is due to the potential of those technologies to radically disrupt existing financial systems by introducing new types of assets and new ways of managing transactions. Yet many of these technologies are so new and seemingly complex that strategic decision-makers may not fully understand the alternative Blockchain technologies on offer, let alone the costs and benefits associated with specific instantiations. This paper reviews the Blockchain literature and identifies eight key system design characteristics. From this, four Blockchain archetypes emerge, each of which is presented using a recognizable existing system to allow tangible discussion of similarities and differences across archetypes. The identification of these archetypes provides an important foundation for future research, enabling in-depth research to be conducted that will outline the costs, benefits, risks, and issues associated with each archetype.