Blockchain Technology as a Catalyst for Business Model Transformation and Organizational Change: Insights From Finnish Case Studies

Abstract

Blockchain technology entails more than new operational tools; it is a strategic decision-making challenge that reshapes how organizations create, deliver, and capture value. This research uses a multiple-case study approach in the Finnish context, conducting 11 semi-structured interviews. Based on our findings, blockchain adoption affects both the strategic and operational levels of an organization, disrupts the traditional value-creation process, and requires changes in leadership, stakeholder trust, and communication patterns. This study established that blockchain adoption depends on change management practices related to decision-making structures, stakeholder trust, and communication dynamics, rather than technological readiness. In this context, this study explores the organizational changes associated with blockchain technology and their implications for the business model, thereby helping develop managerial preparedness and the literature.