Blockchain Project Initiation and Execution: Decision-making Practices and Perceptions

Bolatzhan Kumalakov, Yassynzhan Shakan

Abstract

Blockchain promises to revolutionise the way data management is perceived by business entities. Nonetheless, we know little of how to decide which data to protect, such that added value exceeds technology introduction and ownership costs. Paper presents our attempt to approach the issue via conducting an international online survey in Kazakhstan, Kyrgyzstan and Russia in late 2018 and early 2019. Paper contributes to the body of knowledge by establishing that up-to-date blockchain introduction is - de facto - an unguided process. Despite multiple efforts to come-up with a decision framework, real-world projects are initiated with little - if any - guidance on potential costs and benefits.

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