A TISM modeling of critical success factors of blockchain based cloud services

Abstract

PurposeOver last few years, a major innovation known as blockchain technology has emerged as potentially one of the most disruptive technology of recent times. The purpose of this paper is to identify and analyze various critical success factors (CSFs) that can facilitate success of blockchain-based cloud services. Further, this paper aims to analyze and understand mutual interactions among these CSFs.Design/methodology/approachIn this paper, 19 CSFs have been identified through literature review and expert opinions. The hierarchical framework developed using total interpretive structural modeling has revealed the inter-dependencies among these CSFs. The methodology employed in this study provides a mechanism to conduct an exploratory study by identifying the factors and analyzing their interactions through the development of a hierarchical framework. This research further categorizes CSFs into multiple clusters based on their driving power and dependence power.FindingsThis paper has identified 19 CSFs, namely, user engagement, industry collaboration, rich ecosystem, blockchain technology standardization, regulatory clarity, cost efficiency, energy efficiency (wasted resources), handling blockchain bloat, miner incentives, business case alignment to blockchain capability, sidechains development, blockchain talent pool availability, leadership readiness for a decentralized consensus based technology, technology investment and maturity, trust on blockchain networks, integration with other cloud services, robust and mature smart contracts platform, blockchain security and user control on data (privacy). Further, driver and dependent variables have been identified.Research limitations/implicationsFuture research can discover and detail the sub-factors behind the 19 CSFs identified in this paper. Additionally, more work can be done to extend the current structural model for blockchain-based services to a more functional form.Practical implicationsIt provides a comprehensive list of CSFs that are relevant for development of blockchain-based cloud services. This will help industry leaders to strategically focus on the main drivers that will ensure that businesses get maximum benefit of this disruptive technology.Originality/valueThis study makes a significant contribution in the literature of blockchain-based cloud services, which captures the perspective of different stakeholders. This study is one of the first (if not the first) systematic research on adoption of blockchain-based services. It creates the foundation to carry out further research in this area.