Abstract
The formation of blockchain industrial ecology can help improve the open and efficient value synergy network, and this paper seeks to clarify the value relationship among industrial units and the trend of synergistic evolution of blockchain industrial ecosystem. Based on value co-creation theory, the blockchain industrial ecosystem synergy evolution process is analyzed, and the composite system synergy model is used to empirically investigate the evolution synergy of China’s blockchain industrial ecosystem from 2015 to 2020. The results show that: although the development level of China’s blockchain industry ecosystem continues to improve, it is still at a low level, and the policy-driven effect is obvious. There is a large disparity in the orderliness level of each subsystem of the blockchain industry ecosystem, and the industrial integration and application implementation are in a good situation, while the blockchain enterprises, located in the value pivot subsystem, are in a relatively tough position, and China’s blockchain industry ecosystem is overall in a state of reconciliation and has not yet formed a synergistic effect. Handling the synergistic relationship between the government, the market and other value-supporting units, and blockchain enterprises is the top priority for further promoting the synergistic evolution of the blockchain industry ecosystem.
Highlights
The blockchain industry, an emerging digital technology industry, has received attention from enterprises and governments in various countries due to its characteristic advantages, such as decentralization, openness, peer-to-peer (P2P) networking, and consensus mechanism
Out of their value demands, the value pivot units carry out the division of labor and cooperate around the blockchain technology innovation chain and application chain, effectively connecting, realizing interdependence and collaborative creation, accelerating the development and application of blockchain technology, and realizing the deep integration of blockchain technology with financial services, Internet of Things, supply chain management and other fields within the system, and deriving the value integration subsystem to realize the perfection of industrial ecology and value creation
The main conclusions are as follows: (1) the development level of China’s blockchain industry ecosystem continues to improve, but it is still at a low level, and the policy-driven effect is very obvious; (2) the disparity in the orderliness level of each subsystem of the blockchain industry ecosystem is large, and the industrial integration and application implementation are in a good situation, but the blockchain enterprises located in the pivotal position of the industry are in a relatively difficult situation; and (3) the overall blockchain industry ecosystem in
Summary
The blockchain industry, an emerging digital technology industry, has received attention from enterprises and governments in various countries due to its characteristic advantages, such as decentralization, openness, peer-to-peer (P2P) networking, and consensus mechanism. With the advent of the digital economy era, the emergence of blockchain, big data, artificial intelligence, 5G, and other technologies provides an excellent external environment for the deep integration development and value creation of the industry [6], improving the open, and efficient value exchange network [7] It enables different units in the system to have a positive impact on value proposition and operational consensus in the process of open interaction and synergy [8], promoting the value proposition fit and multisubject symbiosis and adding a solid value power to the high-quality development of the industrial economy. These studies are often conducted from a static, meso-, or micro-perspective on the blockchain industry They tend to lack quantitative definitive analysis and more in-depth systematic theoretical analysis support, neglecting the complex, self-sustaining, synergistic evolutionary process of the blockchain industry ecosystem, and the basic relationship of value acquisition among units. This paper aims to grasp the trend of the development and evolution of China’s blockchain industry ecosystem to provide some guidance for further expanding the depth and breadth of the value of the blockchain industry and promoting the synergistic development of the industry
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