Identifying and prioritizing the advantages of implementing blockchain technology in public-private enterprises

https://doi.org/10.35912/amor.v7i2.2621
Published: Nov 3, 2025

Abstract:

Purpose: Identifying and prioritizing the benefits of implementing blockchain technology in public-private enterprises.

Research Methodology: A comprehensive literature review on this topic revealed a variety of benefits associated with the implementation of blockchain technology. These identified benefits were then presented to experts for prioritization through the use of the DEMATEL questionnaire, leading to the development of the DANP decision matrix.

Results: The benefits were systematically ranked, resulting in the prioritization of tracking, security, and sustainability. Regarding the importance of the identified benefits, the experts ranked "Improving the Quantity and Quality of Services" as the most important and highest-priority benefit of implementing blockchain technology.

Conclusions: Implementing blockchain technology has many important benefits for public-private companies.

Limitations: Due to the research timeframe and limited interactions, only a few organizations and a medium number of personnel were examined.

Contribution: Recommendations are provided for the effective application of blockchain technology to managers of public-private enterprises. This research offers valuable insights into the key benefits and priorities for implementing blockchain technology in state-owned companies. These findings can inform strategic decision-making and guide the effective adoption of this transformative technology.

Keywords:
1. Blockchain
2. Benefits
3. Public-Private Companies
Authors:
Mohammad Forozandeh
Iran University of Science and Technology (IUST), Tehran, Iran
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How to Cite
Forozandeh, M. (2025). Identifying and prioritizing the advantages of implementing blockchain technology in public-private enterprises. Annals of Management and Organization Research, 7(2), 155–169. https://doi.org/10.35912/amor.v7i2.2621
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Issue & Section
Vol. 7 No. 2 (2025): November
Articles
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  3. Avital, M. (2018). Peer review: Toward a blockchain-enabled market-based ecosystem. Communications of the Association for Information Systems, 42, 646-653. doi:https://doi.org/10.17705/1CAIS.04228
  4. Beck, R., & Müller-Bloch, C. (2017). Blockchain as radical innovation: a framework for engaging with distributed ledgers as incumbent organization. doi:https://doi.org/10.24251/hicss.2017.653
  5. Bruhl, V. (2017). Bitcoins, Blockchain und Distributed Ledgers: Funktionsweise, Marktentwicklungen und Zukunftsperspektiven.[Bitcoins, Blockchain and Distributed Ledgers: Mode of Operation, Market Developments and Future Prospects.]. Wirtschaftsdienst. Springer, Heidelberg, 97(2), 135-142. doi: https://doi.org/10.1007/s10273-017-2096-3
  6. Cai, Y., & Zhu, D. (2016). Fraud detections for online businesses: a perspective from blockchain technology. Financial innovation, 2, 1-10. doi:https://doi.org/10.1186/s40854-016-0039-4
  7. Casino, F., Dasaklis, T. K., & Patsakis, C. (2019). A systematic literature review of blockchain-based applications: Current status, classification and open issues. Telematics and informatics, 36, 55-81. doi:https://doi.org/10.1016/j.tele.2018.11.006
  8. Chong, A. Y. L., Lim, E. T., Hua, X., Zheng, S., & Tan, C.-W. (2019). Business on chain: A comparative case study of five blockchain-inspired business models. Journal of the association for Information Systems, 20(9), 1310-1339. doi:https://doi.org/10.17705/1jais.00568
  9. Christidis, K., & Devetsikiotis, M. (2016). Blockchains and smart contracts for the internet of things. IEEE access, 4, 2292-2303. doi:https://doi.org/10.1109/ACCESS.2016.2566339
  10. Crosby, M., Pattanayak, P., Verma, S., & Kalyanaraman, V. (2016). Blockchain technology: Beyond bitcoin. Applied innovation, 2(6-10), 71.
  11. Dai, J., & Vasarhelyi, M. A. (2017). Toward blockchain-based accounting and assurance. Journal of information systems, 31(3), 5-21. doi:https://doi.org/10.2308/isys-51804
  12. Dumitrescu, G. C. (2017). Bitcoin–a brief analysis of the advantages and disadvantages. Global Economic Observer, 5(2), 63-71.
  13. Farah, N. A. A. (2018). Blockchain technology: Classification, opportunities, and challenges. International Research Journal of Engineering and Technology, 5(5), 3423-3426.
  14. Faria, C., & Correia, M. (2019). BlockSim: blockchain simulator. Paper presented at the 2019 IEEE International Conference on Blockchain (Blockchain). doi: https://doi.org/10.1109/Blockchain.2019.00067
  15. Forozandeh, M. (2021). The effect of supply chain management challenges on research and development projects using Fuzzy DEMATEL and TOPSIS approach. Annals of Management and Organization Research, 2(3), 175-190. doi:https://doi.org/10.35912/amor.v2i3.801
  16. Forozandeh, M. (2022). Optimizing the Banking Service System Using Queue Theory, Fuzzy DEMATEL and TOPSIS Approach: Case Study. Annals of Human Resource Management Research, 2(2), 87-104. doi:https://doi.org/10.35912/ahrmr.v2i2.1035
  17. Forozandeh, M., Teimoury, E., & Makui, A. (2019). A mathematical formulation of time-cost and reliability optimization for supply chain management in research-development projects. Rairo-Operations Research, 53(4), 1385-1406. doi:https://doi.org/10.1051/ro/2018068
  18. Goldenfein, J., & Leiter, A. (2018). Legal engineering on the blockchain:‘Smart contracts’ as legal conduct. Law and Critique, 29, 141-149. doi:https://doi.org/10.1007/s10978-018-9224-0
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  26. Kim, H. M., & Laskowski, M. (2018). Toward an ontology?driven blockchain design for supply?chain provenance. Intelligent Systems in Accounting, Finance and Management, 25(1), 18-27. doi:https://doi.org/10.1002/isaf.1424
  27. Knezevic, D. (2018). Impact of blockchain technology platform in changing the financial sector and other industries. Montenegrin Journal of Economics, 14(1), 109-120. doi:https://doi.org/10.14254/1800-5845/2018.14-1.8
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  30. Lepore, C., Ceria, M., Visconti, A., Rao, U. P., Shah, K. A., & Zanolini, L. (2020). A survey on blockchain consensus with a performance comparison of PoW, PoS and pure PoS. Mathematics, 8(10), 1782. doi:https://doi.org/10.3390/math8101782
  31. Li, D., Cai, Z., Deng, L., Yao, X., & Wang, H. H. (2019). RETRACTED ARTICLE: Information security model of block chain based on intrusion sensing in the IoT environment. Cluster computing, 22(Suppl 1), 451-468. doi:https://doi.org/10.1007/s10586-018-2516-1
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  34. Mbamalu, E. I., Chike, N. K., Oguanobi, C. A., & Egbunike, C. F. (2023). Sustainable supply chain management and organisational performance: Perception of academics and practitioners. Annals of Management and Organization Research, 5(1), 13-30. doi:https://doi.org/10.35912/amor.v5i1.1758
  35. Mendling, J., Weber, I., Aalst, W. V. D., Brocke, J. V., Cabanillas, C., Daniel, F., . . . Dustdar, S. (2018). Blockchains for business process management-challenges and opportunities. ACM Transactions on Management Information Systems (TMIS), 9(1), 1-16. doi:https://doi.org/10.1145/3183367
  36. Mitiku, M. A., & Nega, F. E. (2021). Upshot of supply chain assimilation and competitive advantage on organizational performance in Ethiopia, Hawassa Industrial Park. Annals of Management and Organization Research, 2(4), 237-252. doi:https://doi.org/10.35912/amor.v2i4.879
  37. Morande, S., & Marzullo, M. (2019). Application of Artificial Intelligence and Blockchain in healthcare management-donor organ transplant system. Annals of Management and Organization Research, 1(1), 25-38. doi:https://doi.org/10.35912/amor.v1i1.261
  38. Mukkamala, R. R., Vatrapu, R., Ray, P. K., Sengupta, G., & Halder, S. (2018). Blockchain for social business: principles and applications. IEEE Engineering Management Review, 46(4), 94-99. doi:https://doi.org/10.1109/EMR.2018.2881149
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  42. Pal, A., Tiwari, C. K., & Haldar, N. (2021). Blockchain for business management: Applications, challenges and potentials. The Journal of High Technology Management Research, 32(2), 100414. doi:https://doi.org/10.1016/j.hitech.2021.100414
  43. Paternoster, R., & Pogarsky, G. (2009). Rational choice, agency and thoughtfully reflective decision making: The short and long-term consequences of making good choices. Journal of Quantitative Criminology, 25, 103-127. doi:https://doi.org/10.1007/s10940-009-9065-y
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