Blockchain‐Based Innovation in Platforms for User‐Centricity and Transparency

ABSTRACT This study explores the potential of blockchain technology (BT)‐enabled decentralized platforms to transform traditional business models by enhancing earnings for platform workers, increasing consumer savings, and eliminating intermediary roles. Using an inductive methodology, the research analyzes in‐case and cross‐case data, supported by primary data from 22 respondents. The findings reveal four key propositions that highlight the platform's ability to enhance customer flexibility, maximize provider independence and earnings potential, and improve governance and transparency. Building on these insights, the study advances BT‐based propositions by examining the operational models and fund flows underpinning the platform. A decentralized framework is proposed, emphasizing direct interactions between providers and users while ensuring heightened safety, privacy, and secure transactions. This BT‐enabled cooperative ecosystem represents a disruptive innovation, challenging traditional centralized business models, and prioritizing user‐centricity and transparency. The study offers significant implications for stakeholders, including business owners, cooperative representatives, entrepreneurs, and executives, seeking to implement BT‐driven decentralized platforms. By demonstrating how blockchain can reconfigure ecosystems to eliminate intermediaries, the research provides a conceptual foundation for developing innovative, user‐focused business models across various domains.