Value Creation in Cryptocurrency Networks

Towards a Taxonomy of Digital Business Models for Bitcoin Companies

Erol Kazan, Chee-Wee Tan, Eric T. K. Lim

    Publikation: Bidrag til bog/antologi/rapportKonferencebidrag i proceedingsForskningpeer review

    Resumé

    Cryptocurrency networks have given birth to a diversity of start-ups and attracted a huge influx of venture capital to invest in these start-ups for creating and capturing value within and between such networks. Synthesizing strategic management and information systems (IS) literature, this study advances a unified theoretical framework for identifying and investigating how cryptocurrency companies configure value through digital business models. This framework is then employed, via multiple case studies, to examine digital business models of companies within the bitcoin network. Findings suggest that companies within the bitcoin network exhibits six generic digital business models. These six digital business models are in turn driven by three modes of value configurations with their own distinct logic for value creation and mechanisms for value capturing. A key finding of this study is that value-chain and value-network driven business models commercialize their products and services for each value unit transfer, whereas commercialization for value-shop driven business models is realized through the subsidization of direct users by revenue generating entities. This study contributes to extant literature on value configurations and digital businesses models within the emerging and increasingly pervasive domain of cryptocurrency networks.
    OriginalsprogEngelsk
    TitelPACIS 2015 Proceedings
    RedaktørerAtreyi Kankanhalli, Andrew Burton Jones, Teo Thompson
    Antal sider15
    Udgivelses stedAtlanta, GA
    ForlagAssociation for Information Systems. AIS Electronic Library (AISeL)
    Publikationsdato2015
    Artikelnummer34
    StatusUdgivet - 2015
    BegivenhedThe 19th Pacific Asia Conference on Information Systems. PACIS 2015 - Marine Bay Sands, Singapore
    Varighed: 5 jul. 20159 jul. 2015
    Konferencens nummer: 19
    http://pacis2015.comp.nus.edu.sg/

    Konference

    KonferenceThe 19th Pacific Asia Conference on Information Systems. PACIS 2015
    Nummer19
    LokationMarine Bay Sands
    LandSingapore
    Periode05/07/201509/07/2015
    Internetadresse

    Emneord

    • Digital business models
    • Value configuration
    • Cryptocurrency
    • Bitcoin
    • Value networks

    Citer dette

    Kazan, E., Tan, C-W., & Lim, E. T. K. (2015). Value Creation in Cryptocurrency Networks: Towards a Taxonomy of Digital Business Models for Bitcoin Companies . I A. Kankanhalli, A. Burton Jones, & T. Thompson (red.), PACIS 2015 Proceedings [34] Atlanta, GA : Association for Information Systems. AIS Electronic Library (AISeL).
    Kazan, Erol ; Tan, Chee-Wee ; Lim, Eric T. K. / Value Creation in Cryptocurrency Networks : Towards a Taxonomy of Digital Business Models for Bitcoin Companies . PACIS 2015 Proceedings. red. / Atreyi Kankanhalli ; Andrew Burton Jones ; Teo Thompson. Atlanta, GA : Association for Information Systems. AIS Electronic Library (AISeL), 2015.
    @inproceedings{792446f39e534aeaa177a6a17e22952f,
    title = "Value Creation in Cryptocurrency Networks: Towards a Taxonomy of Digital Business Models for Bitcoin Companies",
    abstract = "Cryptocurrency networks have given birth to a diversity of start-ups and attracted a huge influx of venture capital to invest in these start-ups for creating and capturing value within and between such networks. Synthesizing strategic management and information systems (IS) literature, this study advances a unified theoretical framework for identifying and investigating how cryptocurrency companies configure value through digital business models. This framework is then employed, via multiple case studies, to examine digital business models of companies within the bitcoin network. Findings suggest that companies within the bitcoin network exhibits six generic digital business models. These six digital business models are in turn driven by three modes of value configurations with their own distinct logic for value creation and mechanisms for value capturing. A key finding of this study is that value-chain and value-network driven business models commercialize their products and services for each value unit transfer, whereas commercialization for value-shop driven business models is realized through the subsidization of direct users by revenue generating entities. This study contributes to extant literature on value configurations and digital businesses models within the emerging and increasingly pervasive domain of cryptocurrency networks.",
    keywords = "Digital business models, Value configuration , Cryptocurrency, Bitcoin , Value networks , Digital business models, Value configuration , Cryptocurrency, Bitcoin , Value networks",
    author = "Erol Kazan and Chee-Wee Tan and Lim, {Eric T. K.}",
    year = "2015",
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    }

    Kazan, E, Tan, C-W & Lim, ETK 2015, Value Creation in Cryptocurrency Networks: Towards a Taxonomy of Digital Business Models for Bitcoin Companies . i A Kankanhalli, A Burton Jones & T Thompson (red), PACIS 2015 Proceedings., 34, Association for Information Systems. AIS Electronic Library (AISeL), Atlanta, GA , The 19th Pacific Asia Conference on Information Systems. PACIS 2015, Singapore, 05/07/2015.

    Value Creation in Cryptocurrency Networks : Towards a Taxonomy of Digital Business Models for Bitcoin Companies . / Kazan, Erol; Tan, Chee-Wee; Lim, Eric T. K.

    PACIS 2015 Proceedings. red. / Atreyi Kankanhalli; Andrew Burton Jones; Teo Thompson. Atlanta, GA : Association for Information Systems. AIS Electronic Library (AISeL), 2015. 34.

    Publikation: Bidrag til bog/antologi/rapportKonferencebidrag i proceedingsForskningpeer review

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    Kazan E, Tan C-W, Lim ETK. Value Creation in Cryptocurrency Networks: Towards a Taxonomy of Digital Business Models for Bitcoin Companies . I Kankanhalli A, Burton Jones A, Thompson T, red., PACIS 2015 Proceedings. Atlanta, GA : Association for Information Systems. AIS Electronic Library (AISeL). 2015. 34