Blockchain: A New Disruptive Innovation for Knowledge Risk Management

Abstract

This chapter aims to examine blockchain technology, which is a disruptive innovation of recent years, in the context of knowledge risk management (KRM). It discusses how tacit knowledge of blockchain can be retained in organizations and integrated to production or service process. The chapter examines the KRM process in three knowledge retention stages, namely knowledge acquisition, knowledge transfer and knowledge integration. The core argument of this study is organizations intending to adopt blockchain should improve their KRM capacity before initiating this technology in their business process, whilst this technology is still in its nascent years. Otherwise, there is a huge knowledge management risk for them because they may lose their first-mover advantage against their competitors if they lose their knowledge assets. Their pioneering role can be seized by their rivals.