Blockchain and business performance: paving the way to economic, social and environmental goals

Existing studies on blockchain (BC) technology have primarily focused on its technical aspects and operational benefits within firms, often neglecting its impact on economic, social, and environmental goals. This study comprehensively analyses BC's influence on business goals in order to inform investment decisions. Using a fuzzy-set qualitative comparative analysis, we analysed data from interviews with 29 agri-food companies using BC in their operations, identifying three dimensions of BC deployment-resource, process, and relational benefits-as antecedents of business economic, social, and environmental goals. Our research enhances the existing literature on BC in business by identifying two specific paths for using BC to achieve economic and sustainability advantages, along with one path that does not yield such benefits. This study is the first one to clarify three primary approaches that companies adopt when integrating blockchain into their operations, pertaining to process optimisation, market effectiveness, and value integration.