Blockchain Governance Assessment Tools: A Conceptual Model from a Business Sustainability Perspective

Abstract

Purpose: This research aims to identify research trends in governance assessment tools, explore the methods used in designing and developing tools for assessing blockchain governance, and examine elements of readiness and components from a business sustainability perspective.

Design/methodology/approach: A systematic literature review followed the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) guidelines. The search was performed on nine databases: Scopus, ScienceDirect, ACM Digital Library, Emerald Insight, ProQuest, IEEE Xplore, SpringerLink, Sage Journals, and Taylor & Francis, focusing on English-language journal articles published between 2019 and 2023. A total of 24 papers were selected for the review and bibliometric analysis using Biblioshiny. The governance assessment functionalities identified were categorized based on readiness in the STOPE framework. The conceptual model was developed and validated by experts with deep interviews.

Findings: This research identified research conducted between 2019 and 2023 that predominantly addressed natural ecosystems, natural resources, flood management, and the environment (66.67%), health and healthcare (20.83%), and information technology, e-government, and innovative governance (3%). The identified elements and components have been proposed as elements or components for blockchain governance assessment tools from a business sustainability perspective, which is crucial for learning organizations because it drives continuous development and innovation aligned with long-term objectives. Experts developed and validated the conceptual model.

Research limitations/implications: This research proposed elements and conceptual models of blockchain governance assessment tools from a business sustainability perspective to ensure blockchain systems remain transparent, secure, scalable, and compliant with regulations. These tools help identify inefficiencies, security risks, and governance gaps, leading to better blockchain performance and, ultimately, greater benefits for users and organizations adopting blockchain technology.

Practical implications: This research proposed elements and a conceptual model for blockchain governance assessment tools, paving the way for blockchain technology's more widespread and effective adoption in various industries.

Originality/value: This research proposes a unique conceptual model of blockchain governance assessment tools from the perspective of business sustainability and has been validated by experts. The research also identifies elements of blockchain governance assessment tools, a unique aspect that has not been previously reported.