Exploring the Current State of Research on Blockchain and Cryptocurrency – Analyzing Enablers, Inhibitors, and Indeterminate Factors

Blockchain might have the potential to transform business and society. Taking a retrospective look, this literature review shows (1) that a large share of contributions is still concerned with cryptocurrencies, the first application area of blockchain technology; (2) that research on blockchain has transgressed from information systems to other domains; and (3) the current state of research using the five types of theory of Gregor (2006). Analyzing past contributions, enablers (such as crypto-friendly policies) and inhibitors (such as low-quality data sources) for the development and adoption of blockchain systems are identified. Interestingly, the impact of some factors – such as transaction costs and privacy – is not clear yet, with prior research disagreeing whether these are enabling or inhibiting