Blockchain technology through the lens of disruptive innovation theory

In recent years Blockchain technology as a decentralized database of transactions has received massive attention in academia and the professional world and it's called one of the next disruptive technologies. However, almost all these studies have been applying the concept of disruption as a loose word in explaining Blockchain technology without any reference to disruptive technology theory in business and innovation research. Thus, this ambiguity necessitates a look into the juncture of Blockchain technology and disruptive innovation theory. This paper first seeks to shed some light on the fundamental concepts, features, and discussions of disruptive innovation theory and then summarizes and critiques the research in this area. Furthermore, the characteristic features of Blockchain technology and its applications in academic research are briefly discussed. Finally, by integrating ideas and looking at Blockchain technology from the disruptive innovation theory perspective in supply chain as a case industry, the author makes contribution by outlining a set of comparisons that passes the Blockchain technology from the lens of disruptive innovation theory to show whether there are features in this technology and its initial applications that signal potential disruptiveness in the supply chain.