The Impact of Blockchain Technology on Transaction Costs: A Procurement Perspective

Julia Hoffmeister & Bianca Stossberger

Student thesis: Master thesis

Abstract

Abstract Blockchain technology is claimed to have a major disruptive impact on the market. Media, consultants and researchers foresee substantial efficiency effects regarding the organization oftransactions between stakeholders across organizational boundaries. This paper aims to research the impact of blockchain technology on transaction costs from a procurement perspective to deliver insights into the actual practical applications that blockchain technology can have in managing procurement transactions and their cost effects. The study utilizes the Delphi method to gain andcompare insights from multiple experts in procurement. The paper qualitatively evaluates in-depth interviews with procurement experts to explore expected effects of blockchain technology on transaction costs throughout the procurement process. In a second Delphi round, determined effects are reassessed by the study participants. Procurement experts see multiple opportunities where blockchain technology can reduce transaction costs throughout the procurement process, but they also voice doubts on whether any effect exists and explain where they see risks or increasing effects on transaction costs. The findings are discussed and implications for practitioners and researchers described.

EducationsMSc in Supply Chain Management , (Graduate Programme) Final Thesis
LanguageEnglish
Publication date2018
Number of pages119
SupervisorsKim Sundtoft Hald