Blockchain technology and enterprise operational capabilities: An empirical test

Abstract

As a new type of disruptive internet technology, blockchain technology is widely used as a technical support for enterprises to improve production processes and reduce costs. This paper reveals that existing research has only focused on the business process modelling and technology design process of a blockchain-based solution and has neglected analysis of the relationship between blockchain technology and enterprise operational capabilities based on actual data. Hence, this paper collects 50 listed blockchain technology enterprises in China and quantitatively analyses them. The results show that the expansion of the enterprise asset scale is a significant driving factor for implementing blockchain technology. In addition, this paper proves that implementation of blockchain technology has a positive impact on improving asset turnover rate and reducing sales expense rate. Based on the results of theoretical and empirical analysis, this paper provides some constructive suggestions for constructing blockchain projects in the future.