Managing a blockchain-based platform ecosystem for industry-wide adoption: The case of TradeLens
Abstract
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. This study follows the development of TradeLens, a leading global shipping platform ecosystem underpinned by blockchain technology. We examine the factors affecting industry-wide adoption among global supply chain actors by unpacking platform value drivers and platform governance mechanisms identified at TradeLens. While 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. This paper contributes to the literature on blockchain-based platform ecosystems and the platform literature.
About the Authors
Marin Jovanovic, Assistant Professor, Department of Operations Management, Copenhagen Business School
Nikola Kostić, Researcher, Department of Accounting, Copenhagen Business School
Ina M. Sebastian, Research Scientist, MIT Center for Information Systems Research (CISR)
Tomaz Sedej, Ecosystem Manager, Hyperledger Foundation, Guest Researcher, Copenhagen Business School Department of Accounting, and Research Collaborator, MIT CISR
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