Success and Failure of Blockchain Technology Providers: Founders' Power, Beyond‐Blockchain Exploration and Centralized Decision‐Making

Zhan, Yuanzhu, Yeung, Andy CL, Tan, Kim Hua, Xiong, Yu, Xing, Xinjie ORCID: 0000-0001-6277-5045 and Ye, Fei (2025) Success and Failure of Blockchain Technology Providers: Founders' Power, Beyond‐Blockchain Exploration and Centralized Decision‐Making Journal of Operations Management, 71 (7). pp. 893-916. ISSN 0272-6963, 1873-1317

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Abstract

ABSTRACTDespite a growing focus on blockchain adoption within operations and supply chains, these initiatives exhibit an exceedingly high failure rate, with many failing to achieve sustainable success. Why are enterprise blockchain adoptions highly susceptible to failure? In our inductive case study of five technology providers offering blockchain services for operations and supply chains, we examine how founders' power (i.e., expert, prestige, and ownership) shapes management behaviors that build blockchain perceptions and influence stakeholders toward strategic adoption. Our findings reveal that high‐performing cases actively seek inspiration beyond the blockchain ecosystem for service designs and adopt a centralized decision‐making approach where key strategic decisions are made internally. In contrast, low‐performing cases struggle due to within‐blockchain exploration and decentralized decision‐making, leading to slower implementation and limited scalability. Furthermore, we find that founders' behaviors in blockchain adoption are embraced by firm members through performance evaluation and interactions, shaping organizational practices and culture, ultimately determining the success or failure of blockchain technology providers. This study extends previous research at the intersection of founders' power and blockchain literature by developing propositions about how different sources of founders' power lead to distinct management behaviors, influencing the success or failure of blockchain adoption outcomes.

Item Type:	Article
Uncontrolled Keywords:	3503 Business Systems In Context, 35 Commerce, Management, Tourism and Services, 3507 Strategy, Management and Organisational Behaviour
Divisions:	Faculty of Humanities & Social Sciences Faculty of Humanities & Social Sciences > School of Management
Depositing User:	Symplectic Admin
Date Deposited:	31 Mar 2025 08:18
Last Modified:	24 Jan 2026 05:11
DOI:	10.1002/joom.1364
Related Websites:	Publisher
URI:	https://livrepository.liverpool.ac.uk/id/eprint/3191112
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