Blockchain-Driven Business Model Innovation

Blockchain technology is increasingly recognized as a catalyst for business model innovation, offering new value creation, delivery, and capture opportunities. This study systematically examines blockchain's role in transforming business models through the lens of the Antecedent-Decision-Outcome (ADO) framework. Integrating insights from a systematic literature review with empirical findings from expert interviews, the research identifies key drivers, barriers, and outcomes of blockchain adoption. It demonstrates how blockchain enables decentralization, transparency, and disintermediation, reshaping governance structures and revenue streams while fostering trust and operational efficiency. The findings contribute to business model theory by situating blockchain adoption within established frameworks, including the Business Model Canvas, Diffusion of Innovations, and Transaction Cost Economics. Practical implications include a roadmap for organizations to evaluate blockchain's strategic fit and recommendations for policymakers to create conducive regulatory environments.