Abstract

Blockchain technology has been shown to significantly impact firms' innovation performance by enhancing business processes, streamlining information and knowledge, and providing resources for innovative and unique products. However, the underlying causal mechanisms between Blockchain use and innovation performance remain unexplored. Preliminary findings suggest that Blockchain technology can influence innovation outcomes by enhancing inter-firm cooperation and by altering customer interactions. The effectiveness of these interactions, however, is shaped by internal organizational practices such as delegation of decision-making, internal communication, and knowledge-sharing incentives. Through the lens of open innovation theory, this research examines how Blockchain fosters external innovation sources and serves as a dual enabler of exploration and exploitation. Structural Equation Modeling (SEM) is used to analyze these complex relationships. The findings contribute to open innovation theory, organizational ambidexterity, and strategic management, providing valuable insights for both academics and practitioners regarding the strategic implications of Blockchain adoption.

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