Blockchain: New technology adoption - A guide for decision makers based on financial and nonfinancial valuation

Detta är en D-uppsats från Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

Sammanfattning: The opportunities opened by the development of blockchain technology have been stirring intensive discussions in both corporate and governmental circles over the last 18 months. Given the vast amount of information published on different blogs and websites, in research papers and in books, it should be fairly easy for decision makers to grasp the situation. However, more information does not seem to improve clarity. Confusion dominates if one looks beyond the technology's main characteristics and attempts to grasp how those broadly described and widely advertised applications can be implemented in an organization. This research aims to support decision makers in conducting an objective and detailed analysis of a blockchain project in their organization by offering a step by step framework and demonstrating how to best utilize it. To provide multiple perspectives over the benefits and risks of the project, the evaluation of nonfinancial criteria such as technology, strategy and organizational learning is combined with a discounted cash flow valuation. The research examines a blockchain application in the supply chain area by building multiple scenarios and argues that nonfinancial aspects have the potential to be more influential than financial valuation when determining the best course of action for a new technology project.

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