Managing a blockchain-based platform ecosystem for industry-wide adoption: The case of TradeLens

TL;DR

This paper analyzes the development and governance of TradeLens, a blockchain-based shipping platform, identifying key factors influencing its industry-wide adoption and success.

Contribution

It provides an in-depth case study of TradeLens, highlighting platform value drivers and governance mechanisms that facilitate blockchain ecosystem adoption.

Findings

Platform value depends on workflow digitalization and ecosystem leverage.

Effective governance includes strategic, technological, and interoperability mechanisms.

TradeLens's success offers insights into blockchain ecosystem management.

Abstract

The proliferation of blockchain-based platform ecosystems in recent years has prompted scholars across various disciplines to explore the conditions leading to their successful deployment. However, developing a blockchain-based platform ecosystem creates various challenges for the platform sponsor that may influence industry-wide adoption and, ultimately, the platform's success. This study follows the development of TradeLens, a leading global shipping platform ecosystem underpinned by blockchain technology. We examine the factors affecting industry-wide adoption among global supply chain actors by unpacking platform value drivers and platform governance mechanisms identified at TradeLens. While the platform value hinges on the digitalization of workflows and the ecosystem leverage, the platform governance includes strategic (off-chain), technology (on-chain), and interoperability (on- and off-chain) governance - as mechanisms for effectively managing a blockchain-based platform ecosystem. This paper contributes to the literature on blockchain-based platform ecosystems and the platform literature.