Leveraging Blockchain Technology to Control Contextualized Business Risks: Evidence from China

Shuning Zheng, Yueqiu Hu, Alain Yee Loong Chong, Chee-Wee Tan*

*Corresponding author for this work

Research output: Contribution to journalJournal articleResearchpeer-review


The complexity and diversity of socio-economic environments call for a more nuanced consideration of contextualized risks confronting enterprises operating in these environments. By dissecting six cases that successfully adopted blockchain technology in China, we present findings of a grounded theory study into the deployment of blockchain for managing contextualized risks and opportunistic risks. Findings reveal that applying blockchain can augment risk management by controlling opportunistic risk, the latter of which denotes the variability arising from opportunistic practices of internal agents or external parties afforded by their immediate socio-economic environment. Particularly, we not only identify credibility, predatory, and compliance risk as three distinct types of opportunistic risk stemming from the unique socio-economic environment of China, but we also illustrate how blockchain could be leveraged to deal with such opportunistic risks through trust-evoking mechanisms. We discovered that blockchain could evoke trust between individuals-to-organization, organization-to-organization, and organization-to-individuals by bolstering competency, fostering benevolence, and gauging integrity in individual, inter-organizational and intra-organizational contexts, respectively.
Original languageEnglish
Article number103628
JournalInformation & Management
Issue number7
Number of pages13
Publication statusPublished - Nov 2022

Bibliographical note

Published online: 7 March 2022.


  • Blockchain
  • Risk management
  • Opportunistic risk
  • Trust-evoking technology

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