Blockchain Technology and its Implications for Information System Development

Abstract

The potential transformation brought by blockchain technology in information system development is gaining momentum. This research explores the intricate consequences of integrating blockchain into information system development, drawing insights from a group of 30 professionals representing various sectors. Utilizing a mixed-methods approach that combines qualitative interviews and quantitative surveys, the study investigates participants' viewpoints on the advantages, challenges, and recommendations for adopting blockchain. The outcomes reveal substantial recognition (83.3%) of heightened data security and data integrity (76.7%) as primary benefits. Concerns revolve around scalability (70%) and the complexities of system integration (60%). Remarkably, participants envision enhanced operational efficiency (73.3%) and amplified transparency (63.3%) as potential outcomes. Regulatory considerations elicit diverse responses (50%), highlighting the dynamic nature of legal frameworks. Recommendations (80%) include implementing comprehensive training programs and initiating pilot projects (63.3%) to facilitate effective integration. The results enhance the understanding of blockchain's role in information system development, offering guidance to practitioners and organizations for well-informed decision-making amidst a constantly evolving technological landscape.