Academy of Strategic Management Journal (Print ISSN: 1544-1458; Online ISSN: 1939-6104)

Abstract

Blockchain as an Innovative Technology in the Strategic Management of Companies

Author(s): Lidiia Karpenko, Izha Mykola, Svitlana Onyshko, Iryna Chunytska, Dmytro Starodub

Thus, the blockchain technology is currently being actively developed; it is a promising tool for many fields of the economy and business. The advantages of a distributed registry, such as the lack of a hierarchy of participants, the ability to conduct transactions with protected personal data, the high ability to adapt to various processes-from conducting operations in insurance to tracking the supply chain of goods-make this technology and solutions based on it more than relevant. The ability to optimize processes and create cheaper alternatives to existing mechanisms is confirmed by the experience of companies such as ING, Santander, Walmart, Maersk, etc. The prospect of conducting secure transactions protected by cryptography and consensus mechanisms attracts billions of dollars of investment in blockchain projects around the world.