Universal wallets and their value in blockchain solutions

As blockchains proliferate, several implementations have raised attention by illustrating new opportunities to potentially assume a key role in our society. Such opportunities are the background for the research described in this PhD thesis. The focus is particularly on the function and role of universal wallets as gatekeepers for access to services in blockchain systems and managers of digital assets in such systems. This bearer tool may develop into autonomous proactive entities having agency by themselves.
This PhD thesis asks the overarching research question: How do blockchain functionalities enable new forms of value creation? The hypothesis is that such specific functionalities are expressed in blockchain systems. The individual research questions raised in the four articles contribute to answering this overarching question. Each article presents a current or potential use of blockchains analyzing and perspectivizing the elements in such solutions used for value creation.
This PhD thesis operates on two levels. At the top level the findings in these four articles document specific instances of blockchain applications with the aim of creating an understanding of how to utilize and benefit from their abilities. Sometimes the argument is raised that any functionality of such a blockchain solution can be achieved without applying blockchain thus blockchains do not provide anything special. This argument is countered in this thesis by illustrating a unique group of particular abilities characterizing blockchain solutions. At the basis level, through each of four articles, we research an aspect of application of blockchain systems. A taxonomic approach both for universal wallets and for central bank digital currencies (CBDCs) is presented. This to provide insight and relevant attributes for each subject area to clarify the concepts and improve understanding.
The last article, “Innovation through Decentralized Business Models,” presents a model of the dynamic capabilities and innovation diffusion perspectives based upon a substantial dataset of industry’s experiences with blockchain. A key finding is a strong link between organizational innovativeness, economies of decentralization, and top management’s awareness and understanding of blockchain.
The articles presented here are among the first peer-reviewed articles in their categories. The findings fit well with findings in other areas of blockchain research and shed light on major opportunities for use. A number of challenges to be considered prior to realizing the transformative potential of blockchain systems to bring immediate as well as future societal and individual benefits are presented. The four articles provide documentation for the answer to the research question by delivering specific examples of functionalities made available by blockchain based solutions. They contribute to knowledge of the functionalities found in the emergent field of blockchain systems and their use.