Blockchain tokens and the potential democratization of entrepreneurship and innovation

By Yan Chen. Business Horizons, 2018

408 citations recorded by the source corpus.

Over the past few years, Bitcoin has emerged as the first decentralized, global currency. The rise of Bitcoin has brought attention not only to digital currencies but also to the underlying technology empowering digital currencies: blockchain technology. A blockchain is a distributed ledger that records and secures transactions in a peer-to-peer network. Besides empowering digital currencies, blockchain technology has given innovators the capability of creating digital tokens to represent scarce assets, potentially reshaping the landscape of entrepreneurship and innovation. Blockchain tokens may democratize (1) entrepreneurship by giving entrepreneurs new ways to raise funds and engage stakeholders, and (2) innovation by giving innovators a new way to develop, deploy, and diffuse decentralized applications. Blockchain technology and tokens have sparked a new wave of innovation, which may start to revolutionize entrepreneurship and innovation.

Subfields: Information Systems, Management Information Systems, Marketing

View Paper: https://www.semanticscholar.org/paper/23dc01dd5d0dc8b441d937d4ae27f70e9aad6c68

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Citations in the corpus

Blockchain and the circular economy: potential tensions and critical reflections from practice (2020, background): “Incentives can be structured as forms of bitcoin and other tokens and cryptocurrencies that have been the initial applications of blockchain technology (Chen 2018).”
Blockchain adoption in operations and supply chain management: empirical evidence from an emerging economy (2020, background): “Also called the blockchain Technology (BCT) – is already radically transforming many business models (Y. Chen 2018; Dolgui et al. 2020), thus impacting not only production systems and supply chains (SCs) (Ivanov, Dolgui, and Sokolov 2018; Pournader et al. 2020; Queiroz, Fosso Wamba, et al. 2020),…”
Blockchain for Industry 4.0: A Comprehensive Review (2020, background): “Chen[36] discussed the tokenization of money that uses the blockchain.”
Blockchain disruption and decentralized finance: The rise of decentralized business models (2020, background): “In contrast, a decentralized platform does not have a controlling party and, therefore, allows for open access and permissionless innovation—that is, developers can freely build and experiment with new applications without asking for permission (Cerf, 2012; Chesbrough and Alstyne, 2015).”
How blockchain technologies impact your business model (2019, background): “Meanwhile, entrepreneurs issue and sell blockchain tokens and reshape entrepreneurship and innovation in fundraising, investing, community building, and open sourcing (Chen, 2018).”
A novel decentralized platform for peer-to-peer energy trading market with blockchain technology (2021, background): “This process is called tokenization and has seen an increasing adoption over the past few years [64].”
It’s real, trust me! Establishing supply chain provenance using blockchain (2019, background): “It works as a distributed ledger that records and secures transactions of data, goods, and financial services in a peer-to-peer network in which each actor has access to the entire database and its complete history (Chen, 2018).”