![]() These records were then exported to CiteSpace for subsequent analysis. We extracted the full bibliographic record of the articles that we identified from WOS, including information on the title, author, keywords, abstract, journal, year, and other publication information. After filtering out the less representative record types, we reduced these papers to 756 articles that were then used for further analysis. When searching the term “blockchain” as a topic, we found a total of 925 records in these databases. We chose WOS because the papers in these databases can typically reflect scholarly attention towards blockchain. In our research, we first conducted a search on Web of Science Core Collection (WOS), including four online databases: Science Citation Index Expanded (SCI-EXPANDED), Social Sciences Citation Index (SSCI), Arts & Humanities Citation Index (A&HCI), and Emerging Sources Citation Index (ESCI). ![]() In the last section, we discuss the conclusions and limitations. This is followed by recommendations for promising research directions and practical applications. We also point out the main research themes of this paper, based on CiteSpace. We then conduct a further analysis in the subject field of business and economics, where we analyze the countries, publications, highly cited papers, and so on. We holistically describe the number of papers related to blockchain and discipline distribution of the literature. In the next section, we provided an overview of the existing articles in all of the disciplines. The rest of this paper is organized as follows. We believe that this data-driven literature review will be able to more objectively present the status of this research. On the basis of a scientific literature analysis tool, we were able to identify five research themes on blockchain. We then explored the influential countries, journals, articles, and most common keywords. Subsequently, we refined the subject area to business and economics, and were able to add 119 articles to our further analysis. A total of 756 journal articles were retrieved. We first describe the overall number and discipline distribution of blockchain-related papers. This study will conduct a systematic and objective review that is based on data statistics and analysis. In addition, we hope to offer some recommendations for future research and provide some suggestions for businesses that wish to apply blockchain in practice. We aim to identify the key nodes (e.g., the most influential articles and journals) in the related research and to find the main research themes of blockchain in our discipline. As the old saying goes: scholars in different disciplines have many different analytical perspectives and “speak many different languages.” This paper focuses on analyzing and combing papers in the field of business and economics. Meanwhile, legal researchers are interested in the regulations and laws governing blockchain-related technology (Kiviat 2015 Paech 2017). For example, some researchers have studied the underlying technology of blockchain, such as distributed storage, peer-to-peer networking, cryptography, smart contracts, and consensus algorithms (Christidis and Devetsikiotis 2016 Cruz et al. 2017 Kim and Laskowski 2018 O'Dair and Beaven 2017 Radanovic and Likic 2018 Savelyev 2018).īlockchain technology has been studied by a wide variety of academic disciplines. The application of blockchain technology has extended from digital currency and into finance, and it has even gradually extended into health care, supply chain management, market monitoring, smart energy, and copyright protection (Engelhardt 2017 Hyvarinen et al. We provide more details on the three generations of blockchain in the Appendix. ![]() Blockchain is currently delimited to Blockchain 1.0, 2.0, and 3.0, based on their applications. The evolution of blockchain has been a progressive process. ![]() Some of the advantages of blockchain include its distributed ledger, decentralization, information transparency, tamper-proof construction, and openness. At first, the extremely high volatility of bitcoin and the attitudes of many countries toward its complexity restrained its development somewhat, but the advantages of blockchain-which is bitcoin’s underlying technology-attracted increasing attention. The concepts of bitcoin and blockchain were first proposed in 2008 by someone using the pseudonym Satoshi Nakamoto, who described how cryptology and an open distributed ledger can be combined into a digital currency application (Nakamoto 2008).
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