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The Blockchain Revolution: Adressing the rise of blockchain-based applications and their impact on emerging country market development
Linnaeus University, School of Business and Economics, Department of Marketing.
Linnaeus University, School of Business and Economics, Department of Marketing.
2018 (English)Independent thesis Advanced level (degree of Master (One Year)), 10 credits / 15 HE creditsStudent thesis
Abstract [en]

Five years ago, to suggest that blockchain technology would transform the global financial environment would sound quite extreme. But by 2017, the blockchain, or distributed-database of digital assets, started to receive massive mainstream media coverage and public attention all over the world. The topic has even gained traction among banking giants like Goldman Sachs and J.P. Morgan Chase, both of which have established specially designated blockchain laboratories. Blockchain is now regarded as a disruptive threat to countless industries, and the span of blockchain-based applications expands by the day.

Since blockchain is evolving on a day to day basis, most academic research on the technology is, on the whole, lacking in substance. With the handful of blockchain research projects, there have only been minor contributions to international business strategy literature. The existing research is mainly of explorative nature, which falls short in pushing theoretical models forward. Very few researchers have focused on explicitly relating blockchain technology to emerging market theory with an institutional perspective. Since emerging markets have proven to be important testing grounds for existing models and concepts in international business, it seems appropriate to examine blockchain in the emerging market context, using an institutional perspective to measure how blockchain-applications may stimulate development in these markets.

This thesis contributes to the existing research regarding the relationship between blockchain-based applications in modern international business and emerging market development. The study itself revolves around the following research question:

how do blockchain-based applications reduce institutional barriers and mitigate risk in emerging country markets? To answer this question, empirical data is collected by conducting semi-structued interviews with three respondent companies/institutions and a key informant. A cross-case analysis of empirical data is built upon the interviews. The findings of this thesis conclude that, in general, blockchain-based applications reduce institutional barriers and mitigate risks in emerging country markets by offering an alternative to the preexisting financial services industry. Such applications encourage new players to enter high risk emerging country markets because they do not need to rely on traditional financial sector institutional intermediaries the same way that non-blockchain applications do. By reducing barriers and mitigating risks, the introduction of blockchain-based solutions in emerging country markets enhances foreign investment, encourages new entrants, and creates a variety of new jobs for local populations.

Place, publisher, year, edition, pages
2018. , p. 79
Keywords [en]
Blockchain, Emerging Country Market Development, Institution-based Perspective, Financial Services Industry, Financial Technology (FinTech), Cryptocurrency, Property Registration, Identity Management, Peer-to-peer (P2P) Banking / Lending Platforms
National Category
Business Administration
Identifiers
URN: urn:nbn:se:lnu:diva-75653OAI: oai:DiVA.org:lnu-75653DiVA, id: diva2:1216912
Subject / course
Business Administration - Marketing
Educational program
International Business Strategy, Master Programme 60 credits
Supervisors
Examiners
Available from: 2018-06-18 Created: 2018-06-12 Last updated: 2018-06-18Bibliographically approved

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CiteExportLink to record
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Cite
Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
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More styles
Language
  • de-DE
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  • Other locale
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Output format
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