University of Oulu

Tan, T. M., Salo, J., Ahokangas, P., Seppänen, V., & Sandner, P. (2021). Revealing the Disintermediation Concept of Blockchain Technology. In Impact of Globalization and Advanced Technologies on Online Business Models (pp. 88–102). IGI Global.

Revealing the disintermediation concept of blockchain technology : revealing the disintermediation concept of blockchain technology

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Author: Tan, Teck Ming1; Ahokangas, Petri1; Salo, Jari2;
Organizations: 1University of Oulu, Finland
2Unversity of Helsinki, Finland
3Frankfurt School Blockchain Center, Germany
Format: article
Version: published version
Access: open
Online Access: PDF Full Text (PDF, 0.4 MB)
Persistent link:
Language: English
Published: Igi Global, 2021
Publish Date: 2021-02-17


Typically, people have a misconception about blockchain as they associate this technology with cryptocurrency. This chapter does not focus, however, on bitcoin or cryptocurrencies that pertain to its intrinsic value. Rather, the authors focus on the disintermediation feature of blockchain technology by providing insights into how this technology could substitute for the functions and roles of the intermediary. The findings show that blockchain technology is not equipped with financing and physical distribution functions. The current research further demonstrates that most of the blockchain service providers that are listed in the Liechtenstein Blockchain Act are required to perform the traditional roles of an intermediary. Thus, blockchain technology is not found to support a full concept of disintermediation. This chapter is vital in order for existing intermediaries to gain a deeper understanding of how to analyze and optimize their existing functions and roles while adjusting their business model in the token-based economy.

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ISBN: 978-1-7998-7605-2
ISBN Print: 978-1-7998-7603-8
Pages: 88 - 102
DOI: 10.4018/978-1-7998-7603-8.ch006
Host publication: Impact of globalization and advanced technologies on online business models
Host publication editor: Ho, Ree C.
Hong Ng, Alex Hou
Nourallah, Mustafa
Type of Publication: A3 Book chapter
Field of Science: 511 Economics
512 Business and management
Funding: The first author gratefully acknowledges the financial support from the Foundation For Economic Education (Liikesivistysrahasto) with a research grant titled “digitalization–sustainability convergence in business transformation: the perspective of blockchain”.
Copyright information: © 2021, IGI Global.