Is Blockchain Technology Applicable in Small and Medium-Sized Enterprises?
Springer Science and Business Media Deutschland GmbH
The purpose of this research is to investigate the applicability of blockchain technology in Small and Medium Enterprises (SMEs). We have examined the advantages and the disadvantages of the use of this emerging technology in SMEs, based on the existing literature on this research topic. Applying blockchain in SMEs has many advantages: promoting transparency in the organization, facilitating market analysis for better decision-making, eliminating reconciliation costs, and making auditing easier. However, it has some disadvantages, such as; the reshuffling of job positions and the absence of clarity related to the industrial standards. Therefore, we proposed some recommendations in order to adopt this technology successfully. Firstly, the SMEs should design the distributed ledger technology (DLT) in a way to have flexible governance and regulations so that it will be easily upgradeable; additionally, it is essential that the adopted DLT design by an SME can be migrated to a different blockchain whenever the need arises. Also, DLT designers should ensure that measures are taken to limit the collection of personal information. The SMEs should also establish trust and interoperability to realize the full benefits of DLT. Finally, SMEs should invest in research that will ensure more knowledge about the perfection of blockchain technology. © 2021, The Author(s), under exclusive license to Springer Nature Switzerland AG.
This conference paper is not available at CUD collection. The version of scholarly record of this article is published in ICDTA 2021: Digital Technologies and Applications (2021), available online at: https://doi.org/10.1007/978-3-030-73882-2_46
Blockchain technology, Finance, HRM, SMEs, Strategic management
Chabani, Z., Hamouche, S., & Said, R. (2021). Is blockchain technology applicable in small and medium-sized enterprises? . In: Motahhir S., Bossoufi B. (eds) Digital Technologies and Applications. ICDTA 2021. Lecture Notes in Networks and Systems (pp 505-514). Springer, Cham. https://doi.org/10.1007/978-3-030-73882-2_46