Unlocking the Potential of Blockchain: Investigating the Added Values for Stakeholders in a blockchain (based) system

Abstract

Blockchain technology has garnered significant attention and has been increasingly adopted in various sectors, extending beyond its association with cryptocurrencies. Regarding the specific added value that blockchain (based) systems provide to stakeholders, there is still a significant knowledge gap. By conducting a thorough semi-structured interview study, this research paper seeks to close this gap. Three supporting secondary research questions help the primary research question, which examines the added values of blockchain (based) systems for stakeholders. This study explores the concrete added values that blockchain (based) systems provide to stakeholders in real-world scenarios by using a qualitative research methodology.
This essay carefully investigates the varied added values of blockchain (based) systems beyond its theoretical potential through interviews with professionals from a variety of industries and meticulous analysis of the data acquired. The results shed light on the added values that blockchain (based) systems offer across various sectors.
The study's findings shed important light on the transformative potential of blockchain (based) systems by demonstrating how it improves business processes' openness, trust, and efficiency. The implementation of blockchain (based) solutions is also explored in terms of the possible cost savings, simpler operations, and increased data integrity that stakeholders may experience.
The empirical data from this study helps stakeholders have a more complex knowledge of the added values of a blockchain (based) systems for stakeholders. The knowledge gathered from this research can help businesses, policymakers, and decision-makers use blockchain (based) systems successfully while ensuring that decisions about its adoption and implementation are made in a responsible and knowledgeable manner. This study advances the practical understanding of how blockchain technology might favourably affect many businesses and stakeholders by addressing the specific added value of blockchain (based) systems, adding to the increasing body of knowledge in the subject.

Date of Award	1 Jun 2023
Original language	English
Supervisor	Kees Tesselhof (Supervisor) & Guy Janssens (Examiner)