Blockchain in Business
I am part of a research team with two Canadian researchers working with me to ask a few questions about developing a business in a future blockchain-based market. The team I am working with consists of a computer security expert who specializes in cryptosecurity as a PhD researcher. Our other team member is a communications PhD researcher. Together, we are finding, classifying and categorizing the key questions that businesses should ask in a blockchain based market. This stream of research currently looks at the impact of blockchain technology in two business areas:
Corporate Sustainability Reporting (CSR) and
Marketing of the arts.
Blockchain and CSR: While traditional practice classifies CSR theories by four dimensions related to (1) profits, (2) political performance, (3) social demands and (4) ethical values.
The Problem: traditional theories are controversial, complex, unclear, and ineffective. (e.g. greenwashing issues), our research question is: Can a new blockchain-based theory integrate the four dimensions and meet the demand to develop an “organizational integrity theory” on the business and society relationship? By supporting ethically sound behavior through keeping a public and transparent ledger, can managers strengthen the relationships and reputations their companies depend on? How could maintaining a public ledger redefine the competitive landscape for a company?
Blockchain and Marketing of the Arts: Our research questions in this study are:
Could recording ownership history on blockchain mitigate issues of provenance, fraud, and valuation in art markets?C
Could ownership on blockchain eventually shift the art market away from the current state of [artificial] scarcity and exclusivity, towards a more collaborative state of affairs grounded on dissemination and sharing?
Is there a framework to study the impact of blockchain on marketing of the arts and cultural works?
If you have an idea to share, you know where to find us!