Blockchain adoption in health market: a systems thinking and modelling approach
| DOI | https://doi.org/10.1108/JABS-11-2020-0457 |
| Published date | 16 July 2021 |
| Date | 16 July 2021 |
| Pages | 396-405 |
| Subject Matter | Strategy,International business |
| Author | Shweta Nanda,Saket Nanda |
Blockchain adoption in health market: a
systems thinking and modelling approach
Shweta Nanda and Saket Nanda
Abstract
Purpose –The purpose of this paper is to formulate strategic interventions that can contribute to
adoptionof blockchain in Asian health market.
Design/methodology/approach –A methodological frameworkbased on the three qualitative phases
of the systems thinkingand modelling methodology, namely, problemstructuring, causal loop modelling
and developing strategic interventions were used. Data was collected using thirty interviews and
secondaryresearch.
Findings –The reference model developedin the study captured the system behavior, showing health
market blockchainadoption increasing in other countries but strugglingin Asia. The qualitative systems
model developed explained this behavior by capturing the underlying system structure using six
interconnected feedback loops. Three strategic interventions were formulated to change the system
structureto improve its adoption.
Research limitations/implications –This study acknowledgesits limitation that blockchain integration
in health supplychain management (SCM) and adaptability to technologicaltrends are just few elements
that contributesto challenges in blockchain adoption in AsiaPacific health market . It also acknowledges
the limited scale of this study using 30 interviews with a narrow set of stakeholders, limiting its
generalisability.
Practical implications –Although the blockchain technology has medical data security benefits, its
integration in health SCM could potentially improve cost of health service deliveryto patient. Not only it
prevents drug counterfeiting,it enhances patient’s safety by reducingthe time it takes to alert the supply
chain of a productrecall from few days to few seconds.
Social implications –‘‘Blockchain-as-a-Service’’ has wide applications in SCM, identitymanagement,
payments,smart contracts, governance risk and compliancemanagement, with its market size expected
to grow in future. This affordablesolution opens up the roads for future empirical research for information
systemsacademicians and information technologypractitioners.
Originality/value –This research provides a holistic analysis of the challenges facing blockchain
adoption in the health marketfor Asia. It offers a methodological approach based on systems thinking
and modellingto improve its adoption.
Keywords Blockchain, Health market, Integrated SCM, Systems thinking, Qualitative modelling
Paper type Research paper
Introduction
Petersen et al. (2017) in his mapping studies grouped the blockchain applications in three
main clusters: product tracking, product tracing and supply chain finance. The blockchain
attributes have potential for large networks of disparate parties and provide solution to
complex global supply chains (Abeyratne and Monfared, 2016;Nakasumi, 2017). By
component, the blockchain market is divided into platform and services. Whereas, its
applications are extended to smart contracts, payment and settlement, product traceability,
inventory monitoring, compliance management and others. However, legal validity and
smart contracts enforceabilitycriteria are needed for the same (Boucher et al., 2017).
Shweta Nanda is based at
Department of
Management, IILM
Graduate School of
Management, Greater
Noida, India. Saket Nanda
is based at HCL, Noida,
India.
Received 25 November 2020
Revised 4 February 2021
31 March 2021
Accepted 10 May 2021
The author Dr Shweta Nanda
would like to express her
earnest gratitude to her mentor
Professor Arun A Elias for
research inspiration and
guidance. She would also
appreciate her husband, loving
parents Mr Arun Malik, Mrs
Umesh Lata Malik and Mr Hind
Paul Nanda and Mrs Sunita
Nanda and children Sana
Nanda and Navya Nanda for
their inspiration, unconditional
love, patience and cooperation
at every stage of her personal
and academic life, which has
facilitated the author to publish
this research.
PAGE 396 jJOURNAL OF ASIA BUSINESS STUDIES jVOL. 16 NO. 2 2022, pp. 396-405, ©Emerald Publishing Limited, ISSN 1558-7894 DOI 10.1108/JABS-11-2020-0457
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