The state-of-the-art of the research methodology on blockchain technology: proposal for a research agenda and policy implications

Blockchain technology is a disruptive innovation that can profoundly impact the economy, institutions, and society. However, research on this topic is still emerging, and the literature is still fragmented. Amid the uncertainty, the study proposes a general framework for analysis and a comprehensive assessment of the research state-of-the-art. The thesis is organized as follows. Chapter 1 introduces the basic concepts and features of blockchain technology. It discusses some hypotheses about the methodologies that can be used for literature reviews. A systematic mapping study has been conducted to develop a meta-analysis of research methodologies applied to blockchain research. The study provides relevant findings from the content of the articles collected, such as trends and gaps in the literature, strengths, and weaknesses of the research methodologies, and implications for future research. The literature has been mainly focused on system efficiency, legal, trust, cybersecurity, and governance implications. However, it also contributes considerably to the debate in various relevant disciplines by introducing new themes and opportunities and evaluating its potential utilization in different sectors and fields. Furthermore, the study highlights a gap in the core analysis of the real-world impact, especially about the economic consequences of blockchain technology adoption. Chapter 2 focuses on opportunities and challenges from the policymaker’s perspective and provides insights and recommendations for public authorities interested in further exploring the potential benefits of this technology. It also explores the most relevant fields of application and potential implementations of blockchain technology in various sectors, such as finance, supply chain, health care, education, energy, and governance, highlighting some benefits of using blockchain in these domains. As for the public sector, two case studies are proposed to illustrate how blockchain can improve efficiency, transparency, security, and trust in public services and administration. However, blockchain poses challenges and limitations, such as scalability, interoperability, regulation, education, and adoption. Therefore, policymakers need to carefully assess the opportunities and risks of blockchain technology for their specific contexts and objectives. They must also collaborate with other stakeholders, such as researchers, developers, businesses, and civil society, to create an enabling environment for blockchain innovation. Finally, it is crucial to foster collaboration and coordination 2 among distinct levels of government as well as with other countries and regions on blockchain policy issues. Chapter 3 presents a tentative analysis of the determinants influencing the demand for grants for blockchain-related projects from organizations resident in the European Union and associated countries accessing funds from the EU framework programs. Using a fixed-effects panel data model, the study estimates the impact of demographic, social, educational, economic, political, and institutional factors on the amount of EU grants for blockchain-related projects over the available time period 2015-2023 among 33 countries (297 observations in total). The results suggest that the adoption and diffusion of this technology (as measured by EU funding) and the willingness to innovate depend on the effort of the research and development sector, the quality of the existing technological infrastructure, the demographic structure of the population, and the economy’s flexibility. Also, the policymaker has a crucial role in fostering blockchain adoption since the regulatory framework, government effectiveness, and access to public services are essential in supporting innovation. The policymaker can encourage blockchain adoption by ensuring that regulations are targeted for both consumers and businesses without constraining their initiatives, providing public resources for research and development, and promoting education, training, and awareness-raising on blockchain technology and its applications. However, no clear pattern or trend can be observed except for increasing attention to this technology. This suggests there is still much uncertainty and experimentation in this field.