Value Creation via Blockchain Technology: A Systematic Literature Review and Future Research Agenda

Blockchain technology has unprecedented disruptive potential as a decentralised platform for creating and exchanging value. Through scoping out the theoretical landscape of blockchain-based value systems, this paper aims to provide a clear overviewof blockchain value creation research, analyse the significant contributions, and identify future research directions. An exploratory literature landscaping systematic review involving 78 peer-reviewed journal and conference papers was carried out. The outcome of the systematic reviewis the development of an integrative framework describing value creation via blockchain technology with five elements: value creation dimensions, value proposition, value creation mechanisms (value enablers, drivers, and processes that represent how blockchain stakeholders interact with one another for the creation of value), relational characteristics (such as incentives and governance practices that encourage value creation), and value capture and distribution among blockchain participants. This study is the first to synthesise the current academic developments of blockchain technology from a value standpoint. A focus on value is a step towards a need-driven perspective bywhich blockchain applications are tailored to business objectives, social needs, and public ideals.