An Exploratory Study to Identify Effects of Blockchain Technology on Organizational Change and Practices
Pankaj, Rohit Yadav, Iram Naim, Mohan Kumar, Sasmita Misra, Narayanage Jayantha Dewasiri, Mananage Shanika Hansini Rathnasiri, Mohit Yadav, Arun Balodi, Subhasree Kar, Nitin Simha Vihari · 2023
Through this study, authors were able to identify and analyze current literature and experts’ prospects in regards of blockchain technology and further conceptualized various suggestions and recommendations for key activities of businesses, human resources management and marketing. Blockchain is believed to have profound effects on marketing activities of an organization in multiple ways like enhancing brand loyalty through upliftment of trust amongst brand and customers for campaigns being run by an organization; brings forward incremental innovations. Further, blockchain can also help in simplification and reduction of overall campaign cost through usage of 6G networks, cryptocurrency/tokenization as it has its own advantages for an organization. In case of human resources, study investigated the effect of blockchain on recruitment process and it was found that it holds huge implications for transparency, decentralized transactions, security and immutable records. Blockchain has capability to support technologies like, AI-based 6G, to craft smarter, more effective, and secured cellular network. All the gratifications associated with adoption of blockchain reshapes current business practices and improve traditional practices. Finally, study brought forward issues that should be considered for further research on the topic.