Distributed Ledger and Decentralised Technology Adoption for Smart Digital Transition in Collaborative Enterprise

Abstract

Digital transformation of Collaborative Enterprise (CE), both in terms of planning and implementation, relies on new business models and innovative technologies. One of such technologies is Distributed Ledger Technology (DLT) which deploys a decentralised approach requiring no need for intermediaries, thereby facilitating decentralised enterprise operations. Accordingly, this article provides a systematic review and theoretical background of the current state and applications of DLTs within CEs by exploring how this disruptive technology can digitally transform CE practices. Grounded on the review of existing literature, a comprehensive characteristics, application, governance, stakeholders, and emerging security threats faced during DLT adoption and mitigation strategies are presented. More importantly, a model is proposed based on the factors that inhibit DLT adoption in CE. Findings from this study provide implications to support smart digital transition in CE for smart enterprise operations.