shipping industry An exploratory study of adoption likelihood and - - PowerPoint PPT Presentation

shipping industry
SMART_READER_LITE
LIVE PREVIEW

shipping industry An exploratory study of adoption likelihood and - - PowerPoint PPT Presentation

Blockchain adoption in the shipping industry An exploratory study of adoption likelihood and scenario- based opportunities and risks for IT service providers Programme: MSc. in International Business Authors: Riccardo Di Gregorio & Stian


slide-1
SLIDE 1

Blockchain adoption in the shipping industry

An exploratory study of adoption likelihood and scenario- based opportunities and risks for IT service providers

Programme:

  • MSc. in International Business

Authors: Riccardo Di Gregorio & Stian Skjærset Nustad Supervisor: Ioanna Constantiou Oral date: 08/12/2017

slide-2
SLIDE 2

Agenda

  • Reflect on research scope and methodology
  • Provide a visualization to clarify the answering process
  • Consider the implications of our study
  • Reflect on future research
slide-3
SLIDE 3

Why blockchain in the shipping industry?

slide-4
SLIDE 4

The merchant shipping and port segments

  • Reasons for focusing on these segments
  • Most influential for maritime commerce
  • Merchant shipping accounts for 1/3 of total maritime business turnover
  • Ports are fundamental hubs for commercial operations
  • Blockchain applications are being tailored for these two segments
slide-5
SLIDE 5

Reflecting on the TASC model

  • How did the model tailor to our study?
  • Blockchain initiatives – use in a B2B context
  • Most adoption theories – individual adoption

and fail to account for greater complexity

(E.g. the TAM and AIM models)

  • TASC model – only comprehensive inter-firm

adoption model

  • However … it considers all inter-firm

technologies

  • Blockchain is unique – enables trust
  • This conflicts with the trust proposition
slide-6
SLIDE 6

Reflecting on scenario planning

  • How did the tool tailor to our study?
  • Multidimensional approach to decision-

making

  • Often applied by MNCs – relevant for the

shipping industry

  • Schwenker & Wulf methodology –

structured approach

  • However … it isn’t perfect
  • Even if valid – ranking scale is broad
  • Day, Schoemaker, & Gunther (2000) may

have a better ranking approach

Ranking Description 1 Very low (impact or predictability) 2 Low (impact or predictability) 3 Moderate (impact or predictability) 4 High (impact or predictability) 5 Very high (impact or predictability)

slide-7
SLIDE 7

Answering Research Question 1

  • RQ1:

How likely is for blockchain technology to be adopted by shipping industry actors?

  • Underlying principle of the TASC model:

The higher the intention to use an inter-firm technology, the more likely for it to be used and adopted

slide-8
SLIDE 8
slide-9
SLIDE 9

Answering Research Question 1 (cont.)

  • The factor of relative advantage we had the following proposition:

The perceived relative advantage of the technology being adopted is positively associated with the intention to adopt B2B technologies.

  • Respondents identified two main advantages of blockchain:

i. it connects the currently dispersed and fragmented IT system landscape to

  • vercome data silos.

ii. it enforces the accountability among actors along the maritime logistic chain.

  • Based on these findings we determined that blockchain was perceived

to have advantages compared to existing technologies  the relative advantage factor increases adoption likelihood or makes adoption more likely

slide-10
SLIDE 10

Answering Research Question 2

slide-11
SLIDE 11

Academic implications

  • Connection between TASC model and

scenario planning

  • Achieved deeper insights compared to

their separate use

  • PESTLE analysis is an extension of the

external environment

  • External environment provided further

insights into scenarios (e.g. industry support)

  • Improved scenario planning

methodology

  • Changes to Step 2 of Schwenker & Wulf

(2013) methodology

  • Improved quality of data collection by:
  • Overcoming shortcomings of 1st

questionnaire

  • Revealing additional reasoning, opinions

and experiences during the ranking process

slide-12
SLIDE 12

Managerial implications

  • Monitoring tool for adoption likelihood
  • This thesis:
  • showed how to assess blockchain adoption
  • identified obstacles which might improve currently uncertain adoption
  • Managers can use the TASC model as tool to monitor future factor

developments

  • Decision-aiding tool for strategy development
  • Scenarios built on most uncertain and impactful adoption factors
  • Managers should anticipate the future direction of the industry

… developing optimal strategies

slide-13
SLIDE 13

Future research

  • Narrower approach for dominant applications
  • Architectural design may differ greatly between applications
  • E.g. consensus protocol
  • More delineated use cases  conduct a focused study on

blockchain adoption assessing uncertain TASC factors such as cost and compatibility

  • Examining the role of trust
  • The lack of trust could incentivize blockchain adoption in the

industry.

  • However …

an industry-wide adoption would need a significant degree of collaboration.