Bibtex
Cite as text
@Select Types{,
Journal = "Band-1",
Title= "Governance of Blockchain-Based Platforms",
Author= "Johannes Werner, Rüdiger Zarnekow",
Doi= "https://doi.org/10.30844/wi_2020_b1-werner",
Abstract= "Blockchain technology may disrupt industries by disintermediation. Hence, it challenges market-oriented platforms like Amazon or Facebook as intermediaries. In the case of blockchain-based platforms, if there may be no platform owner as an intermediary, the different sides of a platform will still need to be orchestrated by platform governance. Following this, blockchainbased platforms must also have mechanisms for orchestrating their platform sides. These mechanisms of blockchain-based platforms may differ from traditional platform governance. This research aims to enhance the understanding of governance mechanisms of blockchain-based platforms. For this purpose, a case study is conducted to analyze the governance mechanisms and their manifestations. Therefore, the initial governance mechanisms were taken from research on platforms. As a result, blockchain specific characteristics of governance mechanisms were identified.
",
Keywords= "platform governance, blockchain, distributed ledger technology",
}
Johannes Werner, Rüdiger Zarnekow: Governance of Blockchain-Based Platforms. Online: https://doi.org/10.30844/wi_2020_b1-werner (Abgerufen 04.12.24)
Open Access
Blockchain technology may disrupt industries by disintermediation. Hence, it challenges market-oriented platforms like Amazon or Facebook as intermediaries. In the case of blockchain-based platforms, if there may be no platform owner as an intermediary, the different sides of a platform will still need to be orchestrated by platform governance. Following this, blockchainbased platforms must also have mechanisms for orchestrating their platform sides. These mechanisms of blockchain-based platforms may differ from traditional platform governance. This research aims to enhance the understanding of governance mechanisms of blockchain-based platforms. For this purpose, a case study is conducted to analyze the governance mechanisms and their manifestations. Therefore, the initial governance mechanisms were taken from research on platforms. As a result, blockchain specific characteristics of governance mechanisms were identified.
platform governance, blockchain, distributed ledger technology
1. Gawer, A., Cusumano, M.A.: Industry platforms and ecosystem innovation. Journal of product innovation management 31, 417–433 (2014)
2. Dhar, V., Stein, R.M.: FinTech platforms and strategy. Communications of the ACM 60, 32–35 (2017)
3. Zhu, F., Furr, N.: Products to platforms: Making the leap. Harvard Business Review 94, 72–78 (2016)
4. Forbes: The World’s Largest Public Companies, https://www.forbes.com/global2000/list/ (Accessed: 14.08.2019)
5. Eisenmann, T., Parker, G., van Alstyne, M.W.: Strategies for two-sided markets. Harvard Business Review 84, 92 (2006)
6. Gawer, A. (ed.): Platforms, markets and innovation. Edward Elgar, Cheltenham (2009)
7. Schreieck, M., Wiesche, M., Krcmar, H.: Design and Governance of Platform Ecosystems- Key Concepts and Issues for Future Research. ECIS Proceedings (2016)
8. Tiwana, A.: Platform ecosystems. Aligning architecture, governance, and strategy. Morgan Kaufmann, Waltham, MA (2014)
9. Tiwana, A., Konsynski, B., Bush, A.A.: Research Commentary —Platform Evolution. Coevolution of Platform Architecture, Governance, and Environmental Dynamics. Information Systems Research 21, 675–687 (2010)
10. Evans, D.S.: Governing Bad Behavior By Users of Multi-Sided Platforms. Berkeley Technology Law Journal 27 (2012)
11. Swan, M.: Blockchain: Blueprint for a new economy. O’Reilly Media, Inc (2015)
12. Nofer, M., Gomber, P., Hinz, O., Schiereck, D.: Blockchain. Business & Information Systems Engineering 59, 183–187 (2017)
13. Morabito, V.: Business innovation through blockchain. The B3 perspective. Springer International Publishing, Cham (2017)
14. Mattila, J.: The Blockchain Phenomenon – The Disruptive Potential of Distributed Consensus Architectures. ETLA working papers No. 38
15. Gatteschi, V., Lamberti, F., Demartini, C., Pranteda, C., Santamaria, V.: To blockchain or not to blockchain: That is the question. IT Professional 20, 62–74 (2018)
16. Shermin, V.: Disrupting governance with blockchains and smart contracts. Strategic Change 26, 499–509 (2017)
17. Hans, R., Zuber, H., Rizk, A., Steinmetz, R.: Blockchain and Smart Contracts: Disruptive Technologies for the Insurance Market. AMCIS Proceedings (2017)
18. Holotiuk, F., Pisani, F., Moormann, J.: The Impact of Blockchain Technology on Business Models in the Payments Industry. Wirtschaftsinformatik Proceedings (2017)
19. Wörner, D., Bomhard, T.V., Schreier, Y.-P., Bilgeri, D.: THE BITCOIN ECOSYSTEM: DISRUPTION BEYOND FINANCIAL SERVICES? ECIS Proceedings (2016)
20. Tapscott, D., Tapscott, A.: Blockchain revolution. How the technology behind Bitcoin is changing money, business, and the world. Portfolio/Penguin, New York, New York (2016)
21. Beck, R., Müller-Bloch, C., King, J.L.: Governance in the Blockchain Economy: A Framework and Research Agenda. Journal of the Association for Information Systems 19, 1020–1034 (2018)
22. Miscione, G., Ziolkowski, R., Zavolokina, L., Schwabe, G.: Tribal Governance: The Business of Blockchain Authentication. HICCS Proceedings (2018)
23. Reuver, M. de, Sørensen, C., Basole, R.C.: The digital platform. A research agenda. Journal of Information Technology 89, 116 (2017)
24. Thomas, L.D.W., Autio, E., Gann, D.M.: Architectural Leverage. Putting Platforms in Context. Academy of Management Perspectives 28, 198–219 (2014)
25. Baldwin, C.Y., Woodard, C.J., others: The architecture of platforms. A unified view. In: Gawer, A. (ed.) Platforms, markets and innovation, pp. 19–44. Edward Elgar, Cheltenham (2009)
26. Eisenmann, T., Parker, G., van Alstyne, M.: Platform envelopment. Strategic Management Journal 32, 1270–1285 (2011)
27. Hein, A., Schreieck, M., Wiesche, M., Krcmar, H.: Multiple-Case Analysis on Governance Mechanisms of Multi-Sided Platforms. In: Nissen, V., Stelzer, D., Straßburger, S., Fischer, D. (eds.) Multikonferenz Wirtschaftsinformatik (MKWI) 2016. Technische Universität Ilmenau, 09. – 11. März 2016. Universitätsverlag Ilmenau, Ilmenau (2016)
28. Nambisan, S.: Information technology and product/service innovation: A brief assessment and some suggestions for future research. Journal of the Association for Information Systems 14, 215 (2013)
29. Bakos, Y., Katsamakas, E.: Design and Ownership of Two-Sided Networks: Implications for Internet Platforms. Journal of Management Information Systems 25, 171–202 (2008)
30. Benlian, A., Hilkert, D., Hess, T.: How open is this platform? The meaning and measurement of platform openness from the complementors’ perspective. Journal of Information Technology 30, 209–228 (2015)
31. Ghazawneh, A., Henfridsson, O.: Balancing platform control and external contribution in third-party development: the boundary resources model. Info Systems J 23, 173–192 (2013)
32. Ondrus, J., Gannamaneni, A., Lyytinen, K.: The impact of openness on the market potential of multi-sided platforms: a case study of mobile payment platforms. Journal of Information Technology 30, 260–275 (2015)
33. Boudreau, K.: Open Platform Strategies and Innovation: Granting Access vs. Devolving Control. Management Science 56, 1849–1872 (2010)
34. Kirsch, L.J.: Portfolios of Control Modes and IS Project Management. Information Systems Research 8, 215 (1997)
35. Hurni, T., Huber, T.: The interplay of power and trust in platform ecosystems of the enterprise application software industry. ECIS Proceedings (2014)
36. Armstrong, M.: Competition in two-sided markets. The RAND Journal of Economics 37, 668–691 (2006)
37. Tan, B., Pan, S.L., Lu, X., Huang, L.: The role of IS capabilities in the development of multi-sided platforms: the digital ecosystem strategy of Alibaba. com. Journal of the Association for Information Systems 16, 248–280 (2015)
38. Selander, L., Henfridsson, O., Svahn, F.: Capability Search and Redeem across Digital Ecosystems. Journal of Information Technology 28, 183–197 (2013)
39. Kannengießer, N., Lins, S., Dehling, T., Sunyaev, A.: What Does Not Fit Can be Made to Fit! Trade-Offs in Distributed Ledger Technology Designs. HICCS Proceedings (2019)
40. Fridgen, G., Radszuwill, S., Urbach, N., Utz, L.: Cross-Organizational Workflow Management Using Blockchain Technology-Towards Applicability, Auditability, and Automation. HICCS Proceedings (2018)
41. Luu, L., Chu, D.-H., Olickel, H., Saxena, P., Hobor, A.: Making smart contracts smarter. Proceedings of the 2016 ACM SIGSAC Conference on Computer and Communications Security, 254–269 (2016)
42. Zheng, Z., Xie, S., Dai, H.-N., Chen, X., Wang, H.: Blockchain challenges and opportunities: A survey. International Journal of Web and Grid Services 14, 352–375 (2018)
43. Peters, G.W., Panayi, E.: Understanding Modern Banking Ledgers Through Blockchain Technologies: Future of Transaction Processing and Smart Contracts on the Internet of Money. In: Tasca, P., Aste, T., Pelizzon, L., Perony, N. (eds.) Banking Beyond Banks and Money, 19, pp. 239–278. Springer International Publishing, Cham (2016)
44. Siba, T.K., Prakash, A.: Block-Chain. An Evolving Technology. Global Journal of Enterprise Information System 8, 29–35 (2016)
45. Risius, M., Spohrer, K.: A Blockchain Research Framework. Business & Information Systems Engineering 59, 385–409 (2017)
46. Rückeshäuser, N.: TYPOLOGY OF DISTRIBUTED LEDGER BASED BUSINESS MODELS. ECIS Proceedings, 2202–2217 (2017)
47. Beck, R., Müller-Bloch, C.: Blockchain as Radical Innovation: A Framework for Engaging with Distributed Ledgers as Incumbent Organization. HICCS Proceedings (2017)
48. Abramova, S., Böhme, R.: Perceived Benefit and Risk as Multidimensional Determinants of Bitcoin Use: A Quantitative Exploratory Study. ICIS Proceedings (2016)
49. Glaser, F.: Pervasive Decentralisation of Digital Infrastructures: A Framework for Blockchain enabled System and Use Case Analysis. HICCS Proceedings (2017)
50. Glaser, F., Bezzenberger, L.: Beyond Cryptocurrencies – A Taxonomy of Decentralized Consensus Systems. ECIS Proceedings (2015)
51. Brenig, C., Schwarz, J., Rückeshäuser, N.: VALUE OF DECENTRALIZED CONSENSUS SYSTEMS – EVALUATION FRAMEWORK. ECIS Proceedings (2016)
52. Ziolkowski, R., Miscione, G., Schwabe, G.: Consensus through Blockchains: Exploring Governance across inter-organizational Settings. ICIS Proceedings (2018)
53. Hsieh, Y.-Y., Vergne, J.-P.J.P., Wang, S.: The internal and external governance of blockchain-basedorganizations: Evidence from cryptocurrencies. In: Campbell-Verduyn, M. (ed.) Bitcoin and beyond. Cryptocurrencies, blockchains, and global governance, pp. 48–68. Routledge, London, New York (2018)
54. Yin, R.K.: Case study research. Design and methods. SAGE, Los Angeles (2009)
55. Recker, J.: Research Methods. In: Recker, J. (ed.) Scientific Research in Information Systems, 36, pp. 65–110. Springer Berlin Heidelberg, Berlin, Heidelberg (2013)
56. Beck, R., Stenum Czepluch, J., Lollike, N., Malone, S.: Blockchain‐the gateway to trustfree cryptographic transactions. ECIS Proceedings (2016)
57. Sas, C., Khairuddin, I.E.: Design for trust: An exploration of the challenges and opportunities of bitcoin users. CHI Proceedings, 6499–6510 (2017)
58. Ostern, N.: Do you trust a trust-free transaction? Toward a trust framework model for blockchain technology. ICIS Proceedings (2018)
59. Antonopoulos, A.: Bitcoin security model: trust by computation, http://radar.oreilly.com/2014/02/bitcoin-security-model-trust-bycomputation.html (Accessed: 15.08.2019)