Business Model Innovation to Enhance the Efficiency of Freight

Logistics in the Maritime Supply Chain through Blockchain-based

Industry Platforms

Oliver Weisshuhn

, Christian Greiner

and Allan Ramdhony

Munich University of Applied Sciences, Am Stadtpark 20, 81243 München, Germany

Middlesex University Mauritius, Coastal Road, Flic en Flac, Mauritius

Keywords: Business Model Innovation, Platform Business Model Framework, Blockchain-based Industry Platforms,

Maritime Freight Logistics.

Abstract: The emerging platform economy is transforming the maritime freight logistics industry. In particular,

blockchain-based industry platforms offer enormous potential for enhancing efficiency in the supply chain

network. This paper draws on the principles of platform business modelling to develop a framework for global

information technology companies to enable a transformation of their current service and software-oriented

operations into a platform business model. A qualitative study was conducted integrating theoretical insights

from relevant extant literature and empirical evidence based on semi-structured interviews with 15 experts

from a global information technology company and the maritime industry. A multi-layered approach to data

analysis allowed the identification of a set of interdependent generative causal factors that underlie the

platform business model transformation. The findings point to the cross-sector partnership and governance as

the dominant causal mechanisms driving the platform business model transformation. This led to the

development of a new platform business model framework - named the 4/9 Platform Business Model Canvas

(4/9 PBM-C) - which can be seen as a significant development in the current conceptualisation of blockchain-

based industry platforms as a means of enhancing the efficiency of maritime freight logistics. The paper

concludes with a consideration of the practical implications of the 4/9 PBM-C and its application to other

industries.

1 INTRODUCTION AND

MOTIVATION

1.1 Introduction

The ubiquitous business models of e-commerce

platforms, such as Amazon Marketplace, or

collaboration platforms such as Facebook in the

business-to-consumer sector are increasingly being

applied to the business-to-business sector (Gallay,

Korpela, Tapio, & Nurminen, 2017; Jovanovic,

Sjödin, & Parida, 2021). The industry context of this

paper is the maritime freight logistics industry which

is a complex multi-stakeholder environment with

authorities from the public sector (local port

authorities and customs authorities), companies from

the private logistics sector such as liner shipping

companies, terminal operators, freight forwarders and

other logistics service providers (Zeng, Chan, &

Pawar, 2020), and companies from the IT sector

(global information technology companies, local IT

providers). These are part of the value chain and

provide transportation, logistics or other supply chain

related services such as warehousing and handling

services (Park & Li, 2021). Blockchain-based

industry platforms are a “revolutionary paradigm

shift” (Kamble, Gunasekaran, & Arha, 2018, p. 1) as

they offer companies of the maritime freight logistics

industry the possibility to organise themselves into

business networks (Tan & Sundarakani, 2020) and to

execute data transactions in the maritime supply chain

transparently and more efficiently (Harrison, Lowry,

Widdifield, & Hamilton, 2018; Jensen, Hedman, &

Henningsson, 2019; Sunny, Undralla, & Pillai, 2020).

In this market environment, service- and software-

oriented technology companies are increasingly using

their technological capabilities and changing their

business models to develop and operate industry

platforms (Hackius & Petersen, 2017).

Weisshuhn, O., Greiner, C. and Ramdhony, A.

Business Model Innovation to Enhance the Efﬁciency of Freight Logistics in the Maritime Supply Chain through Blockchain-based Industry Platforms.

DOI: 10.5220/0010553800760085

In Proceedings of the 18th International Conference on e-Business (ICE-B 2021), pages 76-85

ISBN: 978-989-758-527-2

1.2 Motivation

But what are the critical success factors for a global

information technology company to successfully

transform its existing software and service-oriented

business model into a blockchain-based platform

business model to respond to the new dynamics in the

emerging platform economy? And do the existing

business model frameworks support such a platform

business model transformation? This paper addresses

the research question about the key causal

mechanisms underpinning such a platform business

model transformation. Based on the results, the aim is

to develop a framework rooted in the principles of

platform business modelling to enhance the

efficiency of freight logistics in the maritime supply

chain.

2 STATE OF THE ART

Research on business model frameworks provides

insights into the structuring, visualisation,

communication and implementation of business

models, which can be understood as a necessary

starting point for business model innovations (Li,

2020; Lima, 2021). In management research, business

model frameworks for the development of new

business models or the modification of existing

business models (business model innovation) are

intensively examined (Climent & Haftor, 2021; Foss

& Saebi, 2017; Lima, 2021).

2.1 Platform Business

The industry platform business places completely

new requirements on a business model that must be

oriented towards transaction markets, ecosystem

management and new pricing models (Ardolino,

Saccani, Adrodegari, & Perona, 2020; Fehrer,

Woratschek, & Brodie, 2018). In the context of

maritime freight logistics, blockchain-based industry

platforms are still in an early stage of evolution

(Saberi, Kouhizadeh, Sarkis, & Shen, 2018).

However, such platforms are of great relevance

because they have disruptive effects on established

industry structures and processes in the multi-

stakeholder environment of maritime freight

logistics. There is a wide-ranging debate in the

literature and in the field of practice about the benefits

of blockchain technology (Dutta, Choi, Somani, &

Butala, 2020) and the compromise between data

protection and transparency that is essential for the

widespread adoption of this technology (Tatar,

Gokce, & Nussbaum, 2020; Zeng et al., 2020).

Moreover, the formation of a required business-to-

business ecosystem is challenging due to the complex

relationships between the platform owner, its industry

partners and the users of the industry platform.

However, as established companies are often

resistant to disruptive innovations and fail to seize new

market opportunities, they also tend to ignore the

possibilities offered by industry platforms. This is

because they incrementally improve their existing

solutions to secure revenue and customer satisfaction

and, thus, allegedly make correct - rational - business

decisions (Christensen, 2013). This tends to be the case

until startup companies engage in disruptive

innovations and proactively develop new business

models. A phenomenon which is described by

Christensen (2013, p. 236) as "The Innovator's

Dilemma. As a consequence of such entrenched

corporate practice, established companies face

considerable challenges in transforming their existing

service- and software-oriented business model into a

platform business model. The existence of a platform

strategy at the strategic level and a resulting business

model at the tactical level does not necessarily ensure

that the pre-defined activities are also executed at the

operational level. This is because an organisation is a

complex and dynamic open system with employees

who pursue different interests and with different IT

systems and technologies (Mingers & Standing, 2017).

In such an open system, social structures are the

basis of various mechanisms - which have certain

characteristics and causal forces that can have a positive

or negative effect on the operationalisation of the

platform business model (Puvvala, McLoughlin,

McLafferty, Yehorova, & Donnellan, 2020). Although

“modern social theory has a tendency to describe social

phenomena rather than to explain” them, (Hedström &

Swedberg, 1998, p. 1), knowing the causes and

mechanisms that trigger the observed social phenomena

is essential for entrepreneurial practice (Puvvala et al.,

2020). It is here that management research can make an

important contribution by identifying and explaining

the effects of social mechanisms (Albert, Brundage,

Sweet, & Vandenberghe, 2020), which are active in the

platform business model transformation, in order to

close the gap between theory and entrepreneurial

outcomes (Edling & Rydgren, 2016, p. 1136).

2.2 Research Gaps

In light of the above, the authors have identified a

need for further research in the area of business model

innovation which addresses the following research

gaps:

Business Model Innovation to Enhance the Efﬁciency of Freight Logistics in the Maritime Supply Chain through Blockchain-based Industry

Platforms

• Lack of empirical research on the activity system

of a platform operator and the causal mechanisms

underlying it, which are important for the

transformation from a software- and service-

oriented business model into a platform business

model

• Lack of understanding of platform business model

frameworks and their components from which a

practical platform business model can be derived.

This is, however, necessary to the extent that

digitalisation and new technologies such as the

blockchain technology are causing a shift from

established pipeline business models (Mody,

Wirtz, So, Chun, & Liu, 2020; Parker, Van

Alstyne, & Choudary, 2016) to business models

of a networked economy (Stradner & Brunner,

2020).

This empirical investigation

aims to close these

research gaps.

3 METHODOLOGY

The research methodology (Table 1) applied is based

on an explanatory research design (Yin, 2017). A case

study research design is best suited to gain new

insights in the research field of platform business

model innovation, where little research has been done

so far (Mody et al., 2020). The case study is the

predominant research approach in business-to-

business research (Easton, 2010) and is considered to

be the most appropriate in “early phases of new

management theory, when key variables and their

relationships are being explored” (Gibbert, Ruigrok,

& Wicki, 2008, p. 1465). The intention is to explain

the observable social phenomena (Parr, 2013) of a

business model transformation through causal

institutional mechanisms. Such an approach is also

suitable because the associated empirical research

was carried out in a global information technology

company which represents the case for this study.

3.1 Data Collection

Since the research question requires an explorative

approach, primary data was collected through

interviews (Mukumbang, Marchal, Van Belle, & van

Wyk, 2020) which is one of the main methods of data

collection in qualitative research (St. Pierre &

Jackson, 2014). Therefore, the data from primary

research were collected through 15 semi-structured

interviews from experts of a global information

technology company (Business Consulting, Industry

Solutions/Platforms, Research & Development) and

from logistics providers engaged in maritime freight

logistics.

Table 1: Overview of the methodology.

Theme Characteristics Application in this study

Focus

Studying complex

social phenomena

Investigation of the platform business model transformation of a global

information technology company for enhancing efficiency in maritime

freight logistics

Research

Position

Critical Realism Credible explanation of causal structures which is precisely the strength of

critical realism

Research

Approach

Inductive Inductive research approach that aims to generate new insights instead of

testing it

Research

Design

Single case study Explanatory research design based on the criteria of a case study - focused

on structures and institutional mechanisms

Data Collection Qualitative Semi-structured interviews with interview participants from different

business units in order to obtain meaningful and rich data

Sampling

Procedure

Non-probabilistic Purposive sampling followed by snowball sampling

Data Analysis Explanatory RRRE model (Resolution, Redescription, Retrodiction, Elimination)

developed by Bhaskar (2013, p. xvii) as explanatory framework to explain

the platform business model transformation

The empirical investigation of these research gaps was

initially addressed by Weisshuhn (2019) in his dissertation.

ICE-B 2021 - 18th International Conference on e-Business

3.2 Data Analysis

The RRRE model developed by Bhaskar (2013, p. xvii)

was used as the explanatory framework for data analysis

to explain the business model transformation within the

chosen research context. The RRRE models stands for:

“Resolution of a complex event into its components,

theoretical Redescription of these components,

Retrodiction to possible antecedents of the components

and Elimination of alternative causes”. In the resolution

stage, the primary data collected was analysed and the

causal entities that might have had a significant causal

effect on the observed phenomenon were identified. A

computer-assisted qualitative data analysis software

(CAQDAS) was used to support the coding and data

analysis process. An initial coding scheme was created

and structured according to the causal mechanisms

identified in the literature and the business model

components of the Business Model Canvas defined by

Osterwalder (2011) (customer segments, value

propositions, key partnerships, key activities, key

resources, cost structure, channels, customer

relationships and revenue streams ). After this, the main

purpose of the redescription stage was to validate the

causal entities identified against existing theory on

industry platforms and business model innovations. This

led to the retrodiction stage, which focuses on a

comprehensive break down of these causal entities to

identify the generative mechanisms underlying them.

Finally, the - elimination stage – aimed to eliminate the

least probable causes and to identify the key causal

mechanisms that impact the platform business model

transformation under the given conditions in maritime

freight logistics.

4 FINDINGS AND DISCUSSION

The platform business model transformation was

investigated by analysing the business model

components (causal entities) based on the

informants' statements in order to generalise and

abstract them. The results of the interviews show

that a new activity system is emerging in global

information technology companies that must meet

the requirements of an increasingly networked

ecosystem in which industry platforms are the basis

for new digital transactions.

The causal entities identified could be newly

described by redescription into platform ownership,

platform governance, standardisation of processes

and data and user adaption (Figure 1).

Figure 1:

Causal entities affecting the platform business

model

transformation.

4.1 Platform Ownership

Previous research has addressed the question of how

the strategy of the industry platform needs to be

shaped in order to create a successful platform

(Hermes, Guhl, Schreieck, Weking, & Krcmar, 2021;

Trabucchi, Buganza, Muzellec, & Ronteau, 2021). As

previously described, global information technology

companies are increasingly responding with an

industry platform strategy to the further digitisation

options offered by blockchain technology. But while

blockchain technology is only an enabler, industry

partnerships are a critical success factor in the design

and market launch of industry platforms in maritime

freight logistics. On the one hand, industry partners

can use their comprehensive expertise to design the

industry platform sector-specifically and promote it

through their operative business relationships in their

industry networks. On the other hand, an industry

partnership between a technology company and a

company from the maritime freight logistics industry

also presents challenges in terms of the commercial

model underlying the industry platform and the

convergence of interests pursued.

4.2 Platform Governance

The focus of the business model innovation is the

provision of the industry platform with its properties

oriented to the requirements of the maritime freight

logistics industry. The resulting key features of the

industry platform are essential for the transactions

between the platform users related to end-to-end

transportation and customs clearance. Industry

platforms in maritime freight logistics are

collaboration platforms with properties of multi-sided

markets, on which data is exchanged between

providers of data and users of data (Hayashi &

Ohsawa, 2020). Without these autonomous users and

Business Model Innovation to Enhance the Efﬁciency of Freight Logistics in the Maritime Supply Chain through Blockchain-based Industry

Platforms

the ecosystem governance provided by the platform

owner (Cusumano, Yoffie, & Gawer, 2020), an

industry platform is just a technological architecture

(Gawer, 2014). While according to Hermes et al.

(2021), each platform ecosystem has a platform

owner, platform users and external complementors.

The global information technology company has the

role of the platform operator, but also designs the

business model as platform owner (Van Alstyne,

Parker, & Choudary, 2016). This function is an

interface to the network users and potential

complementors of the platform (Hermes et al., 2021).

All in all, the right value proposition that

communicates the benefits for all participants is

decisive for the success of the industry platform.

4.3 Standardisation of Processes and

Data

The value proposition of an industry platform in

maritime freight logistics is geared towards a

standardisation of processes and data (Voorspuij &

Becha, 2021). Today, the maritime supply chain is

characterised by peer-to-peer communication

between the various stakeholders in the maritime

supply chain, which implies that transaction data is

only exchanged bi-directionally between two

companies (Hvolby et al., 2021). This means that

companies still face the challenge of bringing multi-

structured information from various sources together

in one place - the single source of truth (SSOT)

(Tapscott & Tapscott, 2016). It becomes obvious that

the standardisation of processes and data is now being

driven by the emerging blockchain technology

underlying industry platforms. Standards

organisations are of great importance here, as they

define the necessary standardisation schemes that

provide the framework for blockchain policies and

technological requirements (Saberi et al., 2018).

Through the use of blockchain technology, the next

level of digitisation in the maritime supply chain can

now be achieved by managing freight and customs

transactions in a tamper-proof and trustworthy

manner via decentralised shared ledgers (Tan &

Sundarakani, 2020; Toptancı, 2021). The companies

involved in the maritime supply chain can thus carry

out transactions efficiently and with a high degree of

standardisation and automation within the business

network, thus ensuring smooth transport within an

international transport network (Park & Li, 2021). On

the one hand, the blockchain technology creates the

possibility of a new form of collaboration in business

networks along the maritime supply chain in order to

take advantage of the standardisation of processes and

data (market perspective). On the other hand, this can

only be achieved if technology companies offer

industry platforms on this technological basis as

neutral providers in order to establish these industry

standards (provider perspective).

4.4 User Adoption

The redescription of the causal entities “customer

segments, channels and customer relationships”

relates to the characteristic of user adoption. While an

open platform architecture enables the platform

owner and third-party service provider to offer

complementary innovations (Hermes et al., 2021), it

is equally important to focus on the mechanisms that

lead to an increasing number of platform users

(Wamba, Queiroz, & Trinchera, 2020; Zeng et al.,

2020). Self-reinforcing user adoption occurs when

more services make the platform more attractive to

platform users, which results in more users

participating in the platform through network effects

(Gregory, Henfridsson, Kaganer, & Kyriakou, 2020).

Even more important than the registration of users, is

the attractiveness of the platform itself upon which

user adoption and commitment is highly dependent

(Parker et al., 2016). Thus, user commitment and

active use can be viewed as the key mechanisms of

customer adoption (Parker et al., 2016). The global

and local sales activities that are defined via the

platform sales model should therefore be geared

towards the integration of companies pursuing

different interests into the business network.

4.5 Towards an Explanatory Model for

Platform Business Model

Transformation

It was found that the informants did not question the

overall business strategy of the global information

technology company, but the practical

implementation of the business model derived from

it. This has led the researcher to a re-

conceptualisation of the entire case. Instead of

focusing on the overall platform business strategy, the

focus was on its operationalisation and thus on the

causal factors influencing the platform business

model. Figure 1 illustrates the influence of the causal

entities identified on the transformation of the

business model into a platform business model. After

the identification of the causal entities (resolution

stage) and their redescription (redescription stage) the

causal mechanisms underlying them were identified

in the retrodiction stage. Given the different identified

causal mechanisms, the question of the key causal

ICE-B 2021 - 18th International Conference on e-Business

mechanisms that can be regarded as having the most

significant impact on the platform business model

transformation was answered finally in the

elimination stage. Although several mechanisms

were active, the findings of the data analysis

emphasise explicitly the causal capacity of the

identified Cross-Sector Partnership Mechanism and

the Governance Mechanism within the open

organisational system of the global information

technology company as the main mechanisms

impacting platform business model transformation.

Figure 2 presents the outputs of the RRRE analysis. It

foregrounds the causal entities impacting the platform

business model transformation including platform

ownership, platform governance, standardisation of

processes and data and user adoption. It also draws

attention to their underlying causal mechanisms and

to their relationships with each other.

5 APPLICATION OF A NEW

PLATFORM BUSINESS

MODEL FRAMEWORK FOR

MARITIME FREIGHT

LOGISTICS

Based on the explanatory model presented in Figure

2, the relevant components for a new platform

business model framework were elaborated and

validated by evidence from literature research and

primary research. From this systematic analysis, the

following nine business model components of a

platform business model framework were identified:

 Value Proposition  Sales  Adoption

 Partnership Model  Pricing  Commitment

 Governance  Revenue  Resources

Building on these components, a new business model

framework was developed. The authors refer to it as the

4/9 Platform Business Model Canvas. It is built on the

four (4) entities of the platform ecosystem and the nine

(9) business model components derived from the

systematic analysis of the mechanisms. As such, it

brings the Platform Business Model Canvas originally

developed by Walter (2016) to a new level of

understanding and represents a significant contribution

in the area. Its key features and benefits are

summarised below.

• The industry platform as a collaboration platform

for maritime freight logistics has an important,

integrative function by linking the stakeholders

(platform owner and industry partners) and

network members of the user groups (providers of

data, users of data) with the goal of improved

supply chain transparency and increased supply

chain efficiency.

Figure 2:

Causal entities affecting the platform business model

transformation.

Business Model Innovation to Enhance the Efﬁciency of Freight Logistics in the Maritime Supply Chain through Blockchain-based Industry

Platforms

• At the centre of the Platform Business Model

framework is the Value Proposition component, to

which all activities of the platform owner and

industry partners must be aligned.

• The components on the left side (light grey;

resources, partnership model, governance, sales,

pricing) of the Platform Business Model

framework are controlled by the platform owner

and its industry partners. Their main function is to

design and create an industry platform that can

generate valuable outcomes for the network

members.

• The components on the right side (dark grey;

revenue, adoption, commitment) are oriented

towards the network members and must be

designed in such a way that direct and indirect

network effects are created and the industry

platform is constantly growing.

• The concentric circles with the corresponding

arrows illustrate the relationship between the

components related to a platform economy

comprising a variety of interacting stakeholders

and network members:

o The platform governance - defined by platform

owner and its industry partners - has an impact

on the commitment of the network members to

use the platform on a permanent basis.

o Sales activities lead to an adoption of the

platform by the platform users

Pricing generates revenue

6 CONCLUSIONS

6.1 Summary

The industry segment of maritime freight logistics is a

multi-stakeholder environment with companies from

the logistics and IT sector, but also with public

authorities from the public sector which have different

and sometimes contradictory interests. IT innovations

such as blockchain-based industry platforms enable

processes to be made more transparent and efficient

through increasing digitalisation on the one hand, and

on the other hand, causing a change in the industry

structure through the disintermediation of

intermediaries integrated into the maritime value chain.

This is reinforced by the increasing collaboration of

logistics providers along the maritime supply chain,

which is a critical success factor for new forms of data

exchange via blockchain-based industry platforms.

The identification of the causal mechanisms

underlying the platform business model transformation

of a global information technology company, led to the

development of an explanatory model that foregrounds

its causal mechanisms together with their complex

interactions. Although several mechanisms were active,

the research findings established the cross-sector

partnership and the governance as the dominant

mechanisms within the open organisational system of

a platform provider. But what makes these

mechanisms more impactful than others? The short

Figure 3: The 4/9 Platform Business Model Canvas for maritime freight logistics.

ICE-B 2021 - 18th International Conference on e-Business

answer is that these mechanisms emerged from the

data analysis as those with the strongest explanatory

power in tracking the transformation from a software-

and service-oriented business model into a platform

business model for maritime freight logistics. This

mechanism approach had two major advantages:

First, the chain of causality identified in this study has

allowed for a multi-layered understanding of the

platform business model transformation. It has also

provided some solid evidence for the causal

mechanisms underlying this phenomenon - thereby

adding to the overall credibility of this study.

With the emerging platform economy and the

“shift from linear value chains to value creation

networks” (Walter, 2018, p. 3), the evolution from

pipeline oriented to network-oriented business model

frameworks becomes evident. Building on Walter´s

Platform Business Model Canvas (Walter, 2016), this

study has also developed a new platform business

model framework to enhance the efficiency of

maritime freight logistics – the 4/9 Platform Business

Model Canvas (4/9 PBM-C) - which consists of nine

components: Partnership Model, Governance, Sales,

Pricing, Value Proposition, Revenue, Adoption,

Commitment and Resources.

6.2 Limitations of Study and Next

Steps

This study has a number of limitations.

First, the findings of a single case study are not

representative or statistically generalisable in the

traditional positivist sense (Eisenhardt & Graebner,

2007; Flyvbjerg, 2006), but the identified causal

mechanisms can explain an outcome in more detail

than other methodological approaches (Bygstad &

Munkvold, 2011). It is the in-depth description of the

mechanisms in the industry context of this study that

allows the findings to be applied also to other

situations (Langley, 1999). Secondly, the interview

data are constrained in terms of completeness as the

researcher's ability to fully consider the entire

dynamic system of maritime freight logistics is

limited. The research was restricted in the selection of

the informants identified by snowball sampling.

However, the resulting biases were mitigated by

conducting interviews with informants from different

business units of the global information technology

company and the results were confirmed by more

than one data source. A third limitation is that this

study was conducted in the industry context of

maritime freight logistics. A transfer of the findings

of this study, the application of the “4/9 Platform

Business Model Canvas”, as well as the

recommendations for actions to operate industry

platforms in other multi-stakeholder environments

(air cargo industry, …) must therefore be evaluated

precisely. On the other hand, this has the advantage

that this study contributes to the - still limited –

research field of B2B industry platforms and platform

business model innovation.

Therefore, this study can only be an initial step in

extending the existing business model literature by a

new platform business model framework for

blockchain-based industry platforms - with the aim of

establishing it sustainably in business practice.

Although the “4/9 Platform Business Model Canvas”

was systematically derived from the analysis of

causal mechanisms, a detailed scientific investigation

of business models derived from it in a

comprehensive field test would provide important

insights. This becomes relevant precisely because

blockchain-based industry platforms and

corresponding business models are still in their early

stages at the time of this research and are only

beginning to assert themselves in a networked

economy (Wang, Han, & Beynon-Davies, 2019).

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