Hashimy, L, Treiblmaier, H and Jain, G (2021) Distributed ledger technology as a catalyst for open innovation adoption among small and medium-sized enterprises. The Journal of High Technology Management Research, 32 (1). 100405 - 100405.

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Abstract

Open innovation and distributed ledger technology (DLT) are both based on the underlying principles of distribution and sharing. While open innovation is about sharing knowledge to improve innovation processes and performance, DLT is a distributed data ledger that is utilized to enhance efficiency, reduce costs, and ensure immutability, traceability, security, and transparency. In this paper, we investigate the barriers to open innovation currently faced by small and medium-sized companies (SMEs) that DLT can solve. To achieve this goal, we conducted semi-structured interviews with 11 experts in open innovation and DLTs from Spain, Germany, Australia, and India. The results of our exploratory study show that DLTs can help to solve several problems, including external barriers, such as problems with contracts, financing, lack of trust, raw materials, lack of information, domestic and international market limitations, IP rights, and governmental regulations as well as bureaucracy. Internal challenges include insufficient funding, organizational systems that are out of date, and lack of trust. When it comes to difficulties associated with the management of open innovation, external barriers are frequently caused by customers' demands, while internal barriers are frequently caused by organizational culture or human nature, which cannot be improved by DLTs. Finally, SMEs might face new obstacles when integrating DLTs, such as integration problems, complex transition phases, and high setup costs as well as problems with attracting and retaining qualified employees.

Item Type: Article
Additional Information: © 2021 The Authors.Published by Elsevier Inc. This is an open access article under the CC BY license
Subjects: H Social Sciences > HB Economic Theory
H Social Sciences > HF Commerce
H Social Sciences > HF Commerce > HF5410 Marketing. Distribution of products
Z Bibliography. Library Science. Information Resources > ZA Information resources
Divisions: Faculty of Humanities and Social Sciences > Keele Business School
Depositing User: Symplectic
Date Deposited: 23 Nov 2021 14:58
Last Modified: 23 Nov 2021 14:58
URI: https://eprints.keele.ac.uk/id/eprint/10302

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