Business model innovation to enhance the efficiency of freight logistics in the maritime supply chain through blockchain-based industry platforms

Abstract

The emerging platform economy is transforming the maritime freight logistics industry. In particular, blockchain-based industry platforms offer enormous potential for enhancing efficiency in the supply chain network. This paper draws on the principles of platform business modelling to develop a framework for global information technology companies to enable a transformation of their current service and software-oriented operations into a platform business model. A qualitative study was conducted integrating theoretical insights from relevant extant literature and empirical evidence based on semi-structured interviews with 15 experts from a global information technology company and the maritime industry. A multi-layered approach to data analysis allowed the identification of a set of interdependent generative causal factors that underlie the platform business model transformation. The findings point to the cross-sector partnership and governance as the dominant causal mechanisms driving the platform business model transformation. This led to the development of a new platform business model framework - named the 4/9 Platform Business Model Canvas (4/9 PBM-C) - which can be seen as a significant development in the current conceptualisation of blockchain-based industry platforms as a means of enhancing the efficiency of maritime freight logistics. The paper concludes with a consideration of the practical implications of the 4/9 PBM-C and its application to other industries.