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Scientific Article details

Title Smart contracts to enable sustainable business models. A case study
ID_Doc 77880
Authors Dal Mas, F; Dicuonzo, G; Massaro, M; Dell'Atti, V
Title Smart contracts to enable sustainable business models. A case study
Year 2020
Published Management Decision, 58, 8
DOI 10.1108/MD-09-2019-1266
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, the authors aim to determine the key elements enabling SBMs by applying smart contracts. Design/methodology/approach - The research context focusses on the case study of SmartInsurance, which is a fictitious name for a start-up in the insurance sector and the real name of which is not to be revealed. The start-up was able to collect 18m euros in 80 s 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 such as the blockchain can provide a fresh perspective to support the development of SBMs.
Author Keywords Blockchain; Transaction cost theory; Social proof; Insurance sector; Smart contracts; Sustainable business models
Index Keywords Index Keywords
Document Type Other
Open Access Open Access
Source Social Science Citation Index (SSCI)
EID WOS:000547979800001
WoS Category Business; Management
Research Area Business & Economics
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