A Quantitative and Qualitative Review of Blockchain Research from 2015 to 2021

Abstract

Blockchain has the potential to reconfigure the contemporary economic, legal, political and cultural landscape, causing a flood of research on this topic. However, limited efforts have been made to conduct retrospective research to appraise the blockchain studies in the recent period, easily leading to a neglect of new technological trends. Consequently, the present research designs a quantitative- and qualitative-analysis procedure to review the latest research status. Adopting a four-step workflow, six research hotspots (i.e., the specific application areas of blockchain technology, the integration of blockchain and other technologies, the driving factors of blockchain, the values of blockchain technology, the types of blockchain and the core technologies of blockchain) and five research frontiers (i.e., entrepreneurship, contract, industrial internet, data management and distributed ledger technology) were detected using quantitative analysis. Furthermore, three other topics (i.e., the Internet of things, access control and trust) and two research gaps (i.e., the true effect of blockchain technology on firms’ operational efficiency and the regulation of the “dark sides” of blockchain technology) were also identified, using qualitative analysis. Finally, the evolutionary paths were qualitatively analyzed, and then three phases of blockchain research were summarized. The conclusions are able to provide a more comprehensive enlightenment regarding blockchain’s research hotspots, research frontiers, evolutionary paths and research gaps in the recent period, from 2015 to 2021, and to provide a reference for future research.