Purpose: The objective of this study is to deepen how blockchain technology through smart contracts can support the development of Sustainable Business models (SBMs). Particularly, we aim to determine the key elements enabling SBMs applying smart contracts. Design/methodology/approach: The research context focuses on the case study of SmartInsurance, which is a fictitious name for a startup in the insurance sector and which real name is not to be revealed. The startup was able to collect 18 million Euros in 80 seconds in a crowdfunding operation, using smart contracts and a revolutionary business model. Internal as well as external documents of different sources are analysed and coded to gather information about the company, its values, and its business, and what it pursues with employing blockchain technology. Findings: The results show how smart contracts can reduce the costs of transactions, increase social trust and foster social proof behaviours, that sustain the development of new SBMs. Originality/value: This study contributes to both the transaction cost theory and social proof theory, showing how new technologies like the blockchain can provide a fresh perspective to support the development of SBMs.
Smart contracts to enable sustainable business models. A case study
Grazia Dicuonzo;Vittorio Dell'Atti
2020-01-01
Abstract
Purpose: The objective of this study is to deepen how blockchain technology through smart contracts can support the development of Sustainable Business models (SBMs). Particularly, we aim to determine the key elements enabling SBMs applying smart contracts. Design/methodology/approach: The research context focuses on the case study of SmartInsurance, which is a fictitious name for a startup in the insurance sector and which real name is not to be revealed. The startup was able to collect 18 million Euros in 80 seconds in a crowdfunding operation, using smart contracts and a revolutionary business model. Internal as well as external documents of different sources are analysed and coded to gather information about the company, its values, and its business, and what it pursues with employing blockchain technology. Findings: The results show how smart contracts can reduce the costs of transactions, increase social trust and foster social proof behaviours, that sustain the development of new SBMs. Originality/value: This study contributes to both the transaction cost theory and social proof theory, showing how new technologies like the blockchain can provide a fresh perspective to support the development of SBMs.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
