320 / 2024-04-24 13:20:43

The media reaction to corporate blockchain adoption

Blockchain,information environment,media reaction

This study examines the relationship between the application of blockchain technology and the resulting media response. Through a systematic analysis using manually collected blockchain application data from US-listed firms, we find that firms attract media attention only when they use blockchain for data tracking and sharing, but not for other applications. This finding highlights the importance of distinguishing between blockchain use scenarios in empirical research. It also signals to practitioners that the strategic use of blockchain for data tracking can serve as an effective tool for increasing visibility, and potentially shaping the competitive landscape.