Blockchain and Smart-Contract: A Pioneering Approach of Inter-Firms Relationships? The Case of Franchise Networks
GATE WP 1917 – April 2019
19 Pages Posted: 24 May 2019
Date Written: April 26, 2019
This paper is interested in the analysis of Blockchains and Smart-contracts applied to inter-firms relationships, in particular the franchise networks. After defining the Blockchain technology and the Smart-contract as a particular type of contract stored in blockchains, we question the theory of contracts and its conception(s) of transactions, information asymmetries, firm or inter-firm relations. To better understand the challenges of blockchain for franchise networks and identify opportunities for implementation in these networks, we present some relevant applications of this technology. We identify different ways where blockchain technology could improve the network management and therefore their performance: the supply-chain, the brand-name protection, security and transparency in the payment of fees and royalties, access to reliable information via an oracle.
Keywords: Blockchain, Smart-Contract, Transaction cost, Network, Franchise
JEL Classification: D86, L14, L81, O33
Suggested Citation: Suggested Citation