A D ECISION FRAMEWORK FOR BLOCKCHAIN ADOPTION A P REPRINT Vittorio Capocasale

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A DECISION FRAMEWORK FOR BLOCKCHAIN ADOPTION

A PREPRINT

Vittorio Capocasale

vittorio.capocasale@polito.it

Guido Perboli

guido.perboli@polito.it

October 27, 2022

ABSTRACT

Blockchain and distributed ledger technologies are gaining the interest of the academy, companies, and

institutions. Nonetheless, the path toward blockchain adoption is not straightforward, as blockchain

is a complex technology that requires revisiting the standard way of addressing problems and tackling

them from a decentralized perspective. Thus, decision-makers adopt blockchain technology for

the wrong reasons or prefer it to more suitable ones. This work presents a decision framework for

blockchain adoption to help decision-makers decide whether blockchain is applicable, valuable, and

preferable to other technologies. In particular, The decision framework is composed of a small set of

questions that can be answered from a managerial standpoint and that do not require a deep technical

knowledge of blockchain-related topics.

Keywords blockchain adoption ·blockchain suitability ·decision making ·decision ﬂowchart ·when to use.

1 Introduction

At present, companies are undergoing radical transformations based on information sharing and digitization, known

collectively as the Industry 4.0 revolution [Fakhri et al., 2020]. Such a revolution is driven by the recent technological

advancements in physical monitoring, data elaboration, virtualization, and automation technologies [Bai et al., 2020,

Boccia et al., 2021, Caselli et al., 2022, Fadda et al., 2021]. On one side, data acquisition and storage is becoming

cheaper and more accurate [Capocasale et al., 2021]; on the other, peer-to-peer technologies such as blockchain[He

et al., 2022] and the Interplanetary File System [Capocasale et al., 2022] are transforming existing business paradigms

[Perboli et al., 2018].

Blockchain creates trust among non-trusting parties without relying on intermediaries. A blockchain is composed of a

network of nodes managing a shared and distributed database: tampering attempts are prevented by replicating the

state of the database on each node. Smart contracts are independently executed by each node and are used to alter the

state of the database. Thus, by leveraging the tamper-resiliency of the blockchain, smart contracts could enhance the

fairness of critical processes, protect valuable resources, and automate business operations. Given the relevance of

such topics [Aringhieri et al., 2022, Serrano, 2022], smart contract-based alternatives to existing services are surging

in multiple sectors, including ﬁnance [Pavlova, 2020], insurance [Gatteschi et al., 2018a], logistics[Pan et al., 2021],

energy [Rufﬁni et al., 2022, Khan et al., 2021], and more.

Nonetheless, blockchain is a complex technology that introduces many compromises and issues at all technical, legal,

and economic levels. Thus, decision-makers often lack the necessary knowledge to make informed decisions on

blockchain adoption, and misconceptions are widespread in the ﬁeld [Schneider and Azan, 2022]. Unsurprisingly,

blockchain is often chosen for the wrong reasons or is preferred to better technologies [Belotti et al., 2019, Halaburda,

2018, Carson et al., 2018, Labazova et al., 2019]. Consequently, many blockchain projects do not last long or fail to

fulﬁll the original goals [Kaufman et al., 2021]. In this context, it is essential to develop standards and tools to simplify

the managerial decision process on blockchain adoption.

We contribute to the current body of knowledge by making the following contributions:

•

we propose a decision ﬂowchart for blockchain adoption that helps decision-makers understand when

blockchain is applicable, valuable, and preferable to other solutions. The framework does not require

arXiv:2210.14888v1 [cs.CR] 24 Oct 2022

A Decision Framework for Blockchain Adoption A PREPRINT

any deep technical knowledge of blockchain technology and can be effectively employed by decision-makers

with different backgrounds;

•

we discuss the rationale behind each of the decision drivers of our framework to shed some light on some of

the hidden caveats of blockchain technology, as they are not sufﬁciently discussed in the existing literature.

The remaining part of this study is structured as follows: Section 2 brieﬂy describes the blockchain technology and

presents a summary of the related works; Section 3 describes the blockchain adoption decision framework; Section 4

concludes the study.

2 Background

This section summarizes the main concepts related to blockchain. Moreover, this section includes a summary of the

related works.

2.1 Blockchain

Blockchain is a technology that enables data sharing among non-trusting parties. Blockchain allows for solving trust

issues without leveraging trusted third parties. Blockchain is composed of a network of peers that share a common

database. The shared database is a ledger, as data can only be appended to it. Each peer manages its copy of the ledger

independently from the others. Thus, peers can maliciously alter their copy, but not the global state of the ledger, which

is decided based on what is stored in the majority of the copies [Zheng et al., 2018, Luo et al., 2022]. We assume

a uniform distribution of voting power among the peers to simplify the discussion. However, when we refer to the

majority of the peers, we mean the majority of the voting power.

Blockchains can be categorized according to their governance model as follows [Buterin, 2015, Lin and Liao, 2017].

•Public

—Any peer can join the blockchain system and gain voting power. Public blockchains solve trust issues

among their participants, as peers can autonomously validate transactions.

•Consortium

—The blockchain system is managed by some well-identiﬁed peers who can set the rules for

interacting with the ledger and gaining voting power. Consortium blockchains solve trust issues among the

consortium members.

•Fully private—A single peer manages the blockchain system. Thus, the system is not decentralized.

2.2 Problem Statement

Many real-world systems are intrinsically decentralized. For example, supply chains are composed of numerous

companies, and the behavior of each one affects the performance of the whole supply chain. Thus, it is logical to

manage supply chains in a decentralized way by allowing each company to vote on the best strategy to improve the

performance of the whole supply chain.

The introduction of blockchain technologies has created the opportunity to decentralize the management of data.

Thus, blockchain has gained adoption in all those intrinsically decentralized systems that previously relied on trusted

third parties. Nonetheless, blockchain is a complex technology and introduces many hidden compromises and issues.

Moreover, decision-makers often lack the necessary technical knowledge to make informed decisions on blockchain

adoption. Thus, blockchain is often adopted for the wrong reasons or is preferred to better technologies [Belotti et al.,

2019, Halaburda, 2018, Carson et al., 2018, Labazova et al., 2019].

To solve this problem, we created a framework that helps decision-makers understand when blockchain is applicable,

valuable, and preferable to other solutions. The framework does not require a deep technical knowledge of blockchain

technology and can be effectively employed by decision-makers with different backgrounds.

2.3 Related Works

According to Ref. [Almeshal and Alhogail, 2021], blockchain suitability frameworks can be divided into three categories:

decision models, conceptual frameworks, and decision ﬂowcharts.

Decision models use mathematical models to decide on blockchain adoption. For example, BAF is a framework for

determining the ideal blockchain solution based on a weighted evaluation of detailed user requirements [Gourisetti

et al., 2020].

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ADECISIONFRAMEWORKFORBLOCKCHAINADOPTIONAPREPRINTVittorioCapocasalevittorio.capocasale@polito.itGuidoPerboliguido.perboli@polito.itOctober27,2022ABSTRACTBlockchainanddistributedledgertechnologiesaregainingtheinterestoftheacademy,companies,andinstitutions.Nonetheless,thepathtowardblockchainadoptionisn...

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