On Smart Contracts and Organisational Performance: A Review of Smart Contracts through the Blockchain Technology

• Main Author: Allam Zaheer
• Format: Article
• Language: English
• Published: Sciendo 2018-12-01
• Series: Review of Economic and Business Studies
• Subjects: smart contracts; blockchain; security; efficiency
• Online Access: https://doi.org/10.1515/rebs-2018-0079

As the Blockchain technology is gaining momentum in popular culture through Cryptocurrencies, its full implication and application to businesses, on a concrete and factual level, is still seen to be in its infancy stage. While the technology provides numerous advantages regarding stability, trust, speed and others, the robustness of the technology is not widely disseminated. This is further coupled by the common notion of resistance to change in business management processes. This paper explores the concept of Smart Contracts through the blockchain technology and its relevance to the business sector and further outlines the advantages and limitations of its applicability as of date.