Paper info: The future of B2B: blockchains, smart contracts and cryptocurrencies
The future of B2B: blockchains, smart contracts and cryptocurrencies
Place of Publication
The paper was published at the 34th IMP-conference in Sri Lanka in 2018.
Advances in communications technology such as the Internet led to the development of the electronic business-to-business (B2B) marketplaces, where different sides of the market are matched together for exchange. Nonetheless, despite the technological innovation electronic markets still suffer from the age-old problems related to trust development, opportunism, quality shirking, as well as the prolonged and costly payment processes. The article addresses whether blockchains, smart contracts, and cryptocurrencies – recent digital inventions supplied by cryptography – are able to overcome some of the problems inherent in the current online platforms. The author explores the potential benefits of these transformational technologies and argues that their adoption for the exchange in B2B electronic markets will have positive impact on the future shape of the B2B commerce, market share and value