Managing a blockchain-based platform ecosystem for industry-wide adoption

How TradeLens ensured industry-wide adoption?

How TradeLens ensured industry-wide adoption?

The proliferation of blockchain-based platform ecosystems in recent years has prompted scholars across various disciplines to explore the conditions leading to their successful deployment. However, developing a blockchain-based platform ecosystem creates various challenges for the platform sponsor that may influence industry-wide adoption and, ultimately, the platform’s success.

The study by Jovanovic et al. (2022) follows the development of TradeLens, a leading global shipping platform ecosystem underpinned by blockchain technology. The study examines the factors affecting industry-wide adoption among global supply chain actors by unpacking platform value drivers and platform governance mechanisms identified at TradeLens. The study reveals that the platform value hinges on the digitalization of workflows and the ecosystem leverage, the platform governance includes strategic (off-chain), technology (on-chain), and interoperability (on- and off-chain) governance — as mechanisms for effectively managing a blockchain-based platform ecosystem.

Jovanovic, M., Kostić, N., Sebastian, I. & Sedej, T. (2022). Managing a blockchain-based platform ecosystem for industry-wide adoption: The case of TradeLens. Technological Forecasting and Social Change. doi: https://doi.org/10.1016/j.techfore.2022.121981