Abstract

     While open innovation organizations have grown in popularity, they hold a high failure rate. This paper identifies limiting factors that contribute to this high failure rate at three levels: strategy, process, and community. After validating and expanding these limits through a case study, the paper offers a framework identifying success factors for open innovation and their hierarchical relationships. We classified these success factors into six groups, design, implementation, technology, operation, community readiness, and community development, and their relationships into four groups, deployment, engagement, evaluation, and governance. This framework and the accompanying propositions offer a better theoretical understanding of open innovation models and provide practical recommendations toward their viability, survivability, scalability, and profitability. Lastly, the paper discusses possible research avenues for the further development of open innovation organizations.

Introduction

      Open innovation (OI) is defined as a distributed innovation process based on purposively managed knowledge flows across organizational boundaries to accelerate internal innovation based on the use of external knowledge or support external innovation based on the use of internal knowledge. For a long time, the theoretical development of OI has been focused on the strategic benefits of OI in an attempt to position OI models as alternative solutions for innovation (Albats et al., 2021; Bogers et al., 2019; Chaudhary et al., 2022). While OI initiatives in tandem with digital platform technologies can potentially facilitate and enhance the innovation process and outcomes (Jesus and Jugend 2021; Nguyen et al., 2021), the downsides and the limits of this openness remain understudied (Kohler and Nickel 2017; Saura et al., 2022; Schlagwein and Bjørn-Andersen 2014; Schoder et al., 2019; Stefan et al., 2022).

     Proponents of OI have long argued that the literature falls short in documenting obstacles hindering OI’s successful implementation and governance (Bigliardi et al., 2020; Chesbrough and Brunswicker 2014; Kohler and Nickel 2017; West and Bogers 2017). Instead, previous studies have mainly articulated the general logic of OI, described the success of some well-known cases, and examined the benefits of engaging external actors in new product development (e.g. Chesbrough 2017; Corral de Zubielqui et al., 2019; Henttonen and Lehtimäki 2017; Liem et al., 2019; Xie et al., 2016). However, these success stories have generally failed to acknowledge that OI can fade in its efficacy due to many technical and non-technical reasons (Bigliardi et al., 2020).

Discussion

     Opening up the innovation process to external knowledge exploration and exploitation remains a challenging task for many organizations (Chaudhary et al., 2022; Haim Faridian and Neubaum 2021; Naqshbandi et al., 2019; Saura et al., 2022). This study synthesized the limitations of OI highlighted in recent studies and further explained their effects through a case review. Our case review also offered new insight into the relationships between these limiting factors. By classifying the identified limiting factors at the strategy, process, and community levels, we developed a framework rendering the key OI success factors and their hierarchical relationships (Fig. 2). The case study allowed us to recognize two groups of strategic decisions that could make or break OI initiatives and their design and implementation decisions. At the process level, OI success depends on both operational and technological decisions. At the community level, community readiness and community development are two critical dimensions of OI success.

Abstract

Nowadays, creating a blockchain-based system for supply chain tracing is a complex task. This paper defines a model, a graphical domain specific language, and a set of tools aimed at helping supply chain domain experts to create blockchain based tracing systems for their supply chains. Starting from a graphical representation of the supply chain, the solidity smart contracts implementing the related tracing system are automatically generated by our framework. Small interventions of programmers are required to customize and finalize such smart contracts. A set of web based interfaces to interact with such smart contracts are also automatically generated. We are confident that our results will increase blockchain usage for supply chain traceability thanks to the automatic process of smart contract generation.

Introduction

A Supply Chain (SC1) has been defined in [1] as an organizations network involved in different processes and activities with the aim of producing value (products or services) at the benefit of the ultimate consumer. Focusing on the product/service, an SC represents a sequence of (even complex) operations which transform the initial assets into intermediate products/services and then into the final one.

In order to give a more precise definition of an SC, it is necessary to understand which aspects of the products/services and which operations are under analysis, the type of process represented, and the actors operating in the network. Regardless of the specific process represented by the SC, having the capability of automatically tracing and controlling the actions performed by the actors of the SC is of paramount importance to obtain an effective and efficient process. Auditability is a fundamental feature of such a tracing system, assuring that the records tracing the actions that have been performed on the SC assets must be always available and that they cannot be deleted or altered.

Supply Chain Management (SCM) systems are software systems that allow to follow and record the execution of the steps of the process represented by a given SC [2], [3]. A number of SCM system implementations, both from academy and industry, are currently available.234 A commonly used approach to have auditable SCM systems is to implement them over blockchain infrastructures.

A number of blockchain-based solutions tailored for SCs [4], [5], [6], [7] are already available but, according to the researchers proposing them, such solutions are still focused on a specific scenario and very difficult to be generalized. Consequently, to promote the usage of blockchain technology for SC tracing and with the aim to make the SCM systems development easier and usable by supply chain domain experts, who are not necessarily distributed ledger technology experts as well, we propose the *-chain framework.

Conclusion and future work

We presented *-chain, a framework defining a model, a DSL, and a set of tools for helping supply chain domain experts in designing and developing their supply chain Management Systems on top of blockchain technology. Our framework allows domain experts to easily represent the main types of supply chains through a simple and user-friendly graphical interface, and – once designed – to translate such supply chain scheme into: (i) a set of smart contracts skeletons implementing the related supply chain Management System, and (ii) two web interfaces for operating on such management system: one for the supply chain administrator, and the other for the supply chain participants. These interfaces allow supply chain administrators to register the participants to their Supply Chain Management systems assigning them roles and rights, and supply chain participants to the register the operations they executed on assets according to the designed supply chain and to the required roles.

We validated our framework, by using it to represent a well-known supply chain use case: the soybean traceability study case [7]. We built the corresponding model, adding more detail to the original schema, introducing role-based authorization controls and also other constraints on operations. We used our framework to translate the supply chain schema into solidity code, and to produce the supply chain Administrator and Participants interfaces.

Abstract

Keywords

1. Introduction

2. Literature review

3. Research methodology

4. Case study

5. Results and discussions

6. Conclusions

7. Compliance with ethical standards

Declaration of Competing Interest

References

Abstract

Lean manufacturing is a profound system designed to enhance every manufacturing industry’s efficiency by reducing waste through internationally recognized tools and techniques. Manufacturing industries strive to adopt lean concepts to maximize their resources like staff, facilities, materials, and schedules to be economically effective. However, managers face difficulty selecting the appropriate lean tools out of the many available LM tools for successful lean implementation. This study suggests an innovative approach to choose suitable lean tools to maximize these essential resources. Herein the Value Stream Mapping and plant layout are considered for waste identification. Fuzzy QFD and FMEA prioritize the crucial resources concerning the defined wastes and determine the risk associated with each failure mode’s sub-element for lean application. It saves time by analyzing only the most critical resources for a successful lean implementation since its focus only on the most important resources. The applicability of the proposed approach is demonstrated through a case study of an Ethiopian shoe manufacturing firm. With the aid of future state plant layout and value stream map, total cycle time is reduced by 56.3%, lead-time is reduced by 69.7%, materials transportation distance and transportation activities are reduced by more than 75%, and workers required are reduced from 202 to 200.

1. Introduction

Companies adopt lean manufacturing (LM) principles and tools for various reasons, including global competition, an uncertain market environment, and rising customers’ expectations. The concepts of LM can make it possible to use their resources effectively and increase their competitiveness. According to Deif and ElMaraghy (2014) and Goshime, Kitaw, and Jilcha (2018), LM is characterized by doing more with less. It focuses on reducing/eliminating waste in order to increase productivity and maximize customer values (Belekoukias et al., 2014).

With the origin of the Toyota Production System, several LM techniques and tools were developed and used to achieve lean. Some of them are TPM, JIT, TQM, kaizen, kanban, production smoothing, cellular manufacturing, one-piece flow, Value Stream Mapping (VSM), and standardized work. Most of them are adopted in discrete manufacturers (Kumar & Parameshwaran, 2018). LM techniques and tools where effectively implemented in Automotive (Vamsi Krishna Jasti & Sharma, 2014), chemical (Jilcha & Kitaw, 2015), textile industry (Hodge, Goforth Ross, Joines, & Thoney, 2011), construction (Ko, 2010; Aka, Danladi Isah, Eze, & Timileyin, 2020), and healthcare industries (Barberato, Freitas, Godinho, & Francisco, 2016).

Abstract

     Small- and medium-sized enterprises (SMEs) play a crucial role within a country’s economy considering that they provide a source of skills and innovation for entrepreneurship and their capacity for introducing, integrating and disseminating new technologies is incomparable. However, the world may be looking at an impending devastating recession delivered by the coronavirus pandemic. As governments intensify restrictions on business to halt the spread of the pandemic, the fear of the virus also reconfigures the very concept of business and the workplace. Therefore, there is a need for a greater focus on digital transformation considering that physical distancing requirements to curb the spread of this virus may become a cultural orientation for businesses and the workplace. A real digital transition is anticipated for small businesses with the 5G network technology. 5G network will not just be a technological connection but will affect different socio-economic sectors and will stimulate innovation in small companies. The goal of this paper was to carry out a literature review on the potential ways small businesses can leverage on 5G network for digital innovation. The paper proposed that small and medium businesses can leverage the 5G Mobile Technology through enhanced interpersonal communication, expanded remote work opportunities, innovative digital tools and supply chain efficiency. Finally, while many individuals and small business owners will profit from 5G technology some will work to undermine it. As a result, companies must keep this in mind when implementing 5G, or other new technology, and adjust their security protocols accordingly to remain secure.

Introduction

     Small businesses can expect a true digital transition with 5G (fifth generation of broadband data-networking digital communications technology) network technology (Tullberg et al., 2016). With an estimated annual growth rate of 97% and approximately 40% of the global population using IoT apps on a 5G network, the new mobile technology has the potential to generate a $251 trillion economic impact by 2025. This growth can be attributed to the fact that the 5G network will not only provide a technological connection but will also have an impact on various socioeconomic sectors and encourage small business innovation (Webb, 2016). The new technological link will make it possible to implement well-known initiatives, such as Smart City, Smart Company, and artificial intelligence in business (Zhu et al., 2016). Because of increased data transfer speed and reduced time between signal transmission and reception, the 5G network will redefine the role of connectivity and connections in global society, providing a new foundation for business innovation, particularly in small businesses. The goal of this paper is to conduct a review of the literature on the various ways small businesses can use the 5G network for digital innovation.

Conclusion

     The goal of this article was to establish a link between 5G technology and digital innovation, particularly in SMEs. The article began by establishing the context of the paper by summarising current knowledge and background information on the subject. This was accomplished by stating the purpose of the paper, the research question/problem, briefly explaining the methodological approach, and emphasising the study’s potential outcomes. Conceptual framework and synthesis were created to demonstrate the key relationships between the focal constructs (5G technology and digital innovation). This was done to aid comprehension of the conceptual framework. This paper contends that the implementation of 5G technology creates a platform for digital innovation in SMEs’ communication, remote working, supply chains, and marketing activities. This can simplify and improve the efficiency of work processes and operations within SMEs, resulting in increased productivity. 5G technology will create enormous opportunities for new revenue streams and will serve as the foundation for business innovation and development on a scale that companies in almost every industry have yet to fully explore.

Abstract

     While innovations and new technologies are often pivotal to the long-term prosperity of firms, such firm-level outcomes emerge from the actions and interactions of organizational members who develop innovations and use new technologies. The “microfoundations movement” seeks to understand how micro-level (e.g., individual) actions and interactions lead to macro-level (e.g., organizational) outcomes and mediate relations between macro-level variables. Although the movement has grown tremendously over the last decade, it has yet to deeply pervade the domain of strategic technology and innovation management. Due to its tremendous growth, it is quite fragmented and dispersed, which impedes the identification of the most promising opportunities for future research. To overcome this problematic situation, we conduct a systematic literature review of existing research on microfoundations in the strategic management of technology and innovation, synthesize it into an integrative framework, and chart promising paths for future research. Specifically, we apply a multi-coder, multi-step approach, identify 87 relevant articles published in 23 leading academic journals over the period from 2003 to 2022, and propose a research agenda comprising more than 20 promising avenues for future research based on the resulting insights. These findings have important implications for the academic literature and management practice.

Introduction

     It is widely accepted that individuals play a major role in producing innovations (e.g., Amabile, 1998, Dahlander et al., 2016, Felin and Hesterly, 2007, Simon, 1991). Nevertheless, the familiar image of “the lone inventor working tirelessly until one comes across the grand discovery, which is followed by shouts of Eureka and much excitement” (Friedman et al., 2008, p. 18; emphasis in original) is often misleading. Few inventors are actually “lone wolves”, but most are embedded in social structures that are key to the development of successful innovations (Dodgson and Gann, 2018, Grigoriou and Rothaermel, 2014). The great majority of successful innovations originate in firms and emerge through the interplay of numerous individuals (Schilling and Shankar, 2019, White and Bruton, 2010). At the same time, innovations are becoming more and more essential for the ongoing competitiveness and long-term prosperity of firms (Audretsch et al., 2014, Foss et al., 2011, Schilling and Shankar, 2019). The same holds true for new technologies, which often only deliver the value added desired by firms if they are well received and adequately put into operation by organizational members (Boothby et al., 2010, Hoppmann et al., 2020, Leonardi and Barley, 2010). Consequently, important interdependencies exist between individuals and organizations. While organizations influence the conditions in which individuals can be innovative and adopt new technologies, individuals affect the prosperity of their firm through their innovation-related actions and their use of new technologies (Felin and Foss, 2005, Grant, 1996, Schilling and Shankar, 2019).1

Conclusion

     The recent growth in microfoundational research demonstrates the enormous potential of the microfoundations paradigm to advance our understanding of important phenomena. Current calls for further microfoundational work indicate that the microfoundations movement will likely continue to grow in the future (Elsahn et al., 2020, Loon et al., 2020, Raffaelli et al., 2019). At the same time, its rapid growth has led to a fragmentation that – if it were to remain unaddressed – could impede the identification of the most promising opportunities for additional research. A synthesis of existing microfoundational research can address this problem and provide a solid foundation for subsequent efforts (Barney and Felin, 2013, Felin et al., 2015). Our integrative literature review delivered this synthesis for microfoundational research in the STIM domain. We analyzed 87 articles published in 23 peer-reviewed journals over the period from 2003 to 2022. Together, these articles can be considered representative of present microfoundational research in the STIM domain. Our analysis found that some relevant topics have already gained considerable attention, whereas others have been under-researched so far.

Abstract

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Abstract

The increase in customer complaints on the reliability of 3PL services among online sellers has become prominent in the industry, as confirmed by 3PL service providers in Malaysia. The increase in customer complaints increases the tendency to switch to other 3PL service providers. As Asian markets lead the growth of e-commerce, covering approximately 50% of the global e-commerce market, whether the customer will continue to shop online or not is no longer the issue. Although having the proper logistics provider to support online sellers’ business is crucial, most studies have focused on the online shopper’s perspective and employ the service quality theory. Observably, the satisfaction and reuse intention of the 3PL from the online retailer’s perspective is largely neglected. This study identified the factors influencing the satisfaction and reuse intention of 3PL services among online sellers in Malaysia by employing and expanding the stimulus–organism–response (SOR) theory. A purposive sampling method was employed, and the data were gathered via an online survey among online sellers. Additionally, smart partial least squares (SmartPLS) was applied to test the hypotheses. The results indicated that reliability had a positive effect on satisfaction, and satisfaction had a positive relationship with the reuse intention of certain 3PL services. Moreover, satisfaction mediated the relationship between reliability and reuse intention, whereas price fairness strengthened the positive relationship between satisfaction and reuse intention. The findings enhance studies that employed the SOR theory, particularly relating to online sellers’ behaviour on 3PL services. The findings also benefit online sellers and 3PL service providers to create attractive marketing strategies for business sustainability.

1. Introduction

Global courier, express, and parcel (CEP) delivery services are currently experiencing strong growth partly because of the developing e-commerce sector and increasing consumer demand for online shopping. Multiple logistic providers have attempted to provide firstclass services to enhance customer satisfaction [1] and the service reuse intention. Online sellers rely heavily on logistics capability to deliver products to various customer locations, which is considered as a backbone for the tremendous growing e-commerce [1,2]. Hence, the increase in e-commerce activities should be aligned with the capability of logistic providers.

In 2019, worldwide retail e-commerce sales reached USD 3.53 trillion and are anticipated to reach USD 6.54 trillion in 2022 [3] (Global Retail E-Commerce Sales 2014–2024, 2020). Moreover, the International Post Corporation predicted a surge in Asia–Pacific regional sales of up to two-thirds of the global e-commerce by 2021 [4]. Along with government intervention, Malaysia’s industry could achieve more than 20 per cent growth, equivalent to more than RM 170 billion in 2020. Thus, the reliability of the service providers is one crucial factor to be considered by e-commerce retailers to ensure the goods are delivered at the right time, in good condition, and at competitive prices.

1- Social media for enterprises

2- The growth of social media

3- SMA for B2B supply chain operations

4- Social media usage in B2B supply chain

5- Managerial implications

6- Summary and future research

References

Abstract

This research examines current applications and potential capabilities of a wide array of social media applications such as Facebook, Twitter, LinkedIn, and others within the context of B2B supply chain operations. Specifically, we use social media affordances (SMA) as a framework to explore how social media is used in B2B supply chain settings. We report findings based on a survey of 209 professionals in supply chain areas. These findings include the extent to which social media and different social media tools are used in B2B supply chain operations, the impact of company size on social media use, the areas in which social media is used, the perceptions of social media, and other relevant issues such as social media policy and security. Based on these findings, this study provides a discussion regarding the current and future use of social media in B2B supply chain operations.

Social media for enterprises

The social media revolution has touched nearly all areas of business and, in many instances, has changed fundamental interactions between companies and their customers (Kaplan & Haenlein, 2010). Outside the business realm, individuals have rapidly embraced and adopted social media. According to the Pew Research Center (2018), between February 2005 and February 2018, the percentage of American adults using social networking sites jumped from 5% to 69%. Specific platforms added users at unprecedented rates, with Facebook hitting 50 million users just 1 year after its commercial introduction (Statista, 2015a) and Twitter doing the same in under 9 months (Statista, 2015b). Recognition of social media value is present in most business settings; however, many industry insiders believe much remains to be done. This is particularly true in the area of supply chain. While there is little doubt that social media is starting to have a big impact on supply chain activities (O’Leary, 2011), researchers point out the shortcomings.

1- Introduction

2- Overview of targeted ISO standards

3- Agile metrics to support monitoring and control processes

4- Conformance with targeted ISO standards

5- Conclusion

References

Abstract

Agile approaches are well perceived in software development companies. These approaches are not faced with traditional process models. This research analyses how by defining and monitoring a set of Agile metrics, Agile mature companies can be also conformant with the best practices proposed by the targeted ISO process reference models. Conformance has been identified with five Technical Management processes of the ISO/IEC/IEEE 12207 standard and with two activities of the Project Management process of the ISO/IEC TR 29110-5-1-2 standard. The findings may be of the interest of those Agile settings that need to work according to the process model established in the company.

Introduction

Since the emergence of Agile in the early 1990s, Information Technology (IT) companies have had an increasing interest in applying Agile software development methods. Many settings claim to be Agile or wish to adopt these methods [1]. Implementation of Agile approaches helps software development companies to tailor their services and products, thus providing the ability to adapt to current dynamics in the market [2], [3]. The use of Agile has caused a significant change on how projects are organized and executed [4], [5]. Due to its optimization effect and reduction of overhead, Agile practices can help mature organizations to become more flexible [6], [7]. As a consequence, Agile approaches are well perceived by both management and developers [8], and software development organizations recognize the need for agility in nearly every project they execute [9]. Agile approaches are also appropriate for organizations that develop critical software, as well as for other settings in other critical sectors such as automobile, medical or aerospace, among others. Although this kind of companies need to show conformance to recognized and widely accepted standards such as CMMI or SPICE, they need to be more agile. In any case, it is not incompatible to have a certification according to a maturity model and work following an Agile approach.

1- Introduction

2- Literature review

3- Research methodology

4- Results, analysis, and discussion

5- Concluding remarks, limitations, and future research

References

Abstract

Little is known about the effects of lean manufacturing practices on the process innovation performance of manufacturing organisations. This research aims to fill this gap and explore the aforementioned interdependency. A research framework consisting of 22 measurement scales and three pairs of hypotheses was developed based on an extensive literature review. A large-scale self-administered questionnaire was distributed among appropriately selected industrial experts. Datasets obtained from 340 usable responses were analysed through confirmatory factor analysis, descriptive statistics, correlations, and multiple linear regression models. The findings suggest that both technical and human lean practices have a moderate to strong positive impact on the input and occurrence of incremental and radical process innovation in manufacturing organisations. In turn, as an output of process innovation, this appears to enhance companies’ operational performance. Thereby, the results dispel the scholarly and managerial misconception that LM and innovation are difficult to coexist.

Introduction

Over the last 30 years, lean manufacturing (LM) has provided some of the most popular and effective practices and tools for striving towards operational excellence (Albliwi, Antony, & Lim, 2015). In essence, LM aims to eliminate any non-value-adding activities through continuous incremental improvements (Abolhassani, Layfield, & Gopalakrishnan, 2016). Global megatrends have accelerated the pace of technological developments, increasing the importance of dynamic operations (Westkämper, 2014). In this environment, merely optimising the exploitation of innovation is not enough. Companies are challenged to enhance their explorative innovation capabilities to ensure sustainable competitive advantages (Chen & Huang, 2009; Kafetzopoulos, Gotzamani, & Gkana, 2015). In addition to managing existing products and services, they must incrementally and radically innovate in technology and processes to outpace global competition (Westkämper, 2014). On one hand, exploitation and exploration seem contradictory (Berente & Lee, 2014; Jones & Linderman, 2014; Pakdil & Leonard, 2017). By principle, standardised lean environments appear to be the opposite of increased worktime flexibility and colourful creativity rooms. Similarly, structured and streamlined workflows associated with LM seemingly contradict the need of freedom to innovate. Pakdil and Leonard (2017) outline a paradox of LM: while employees are encouraged to continuously innovate autonomously, guidelines and work regulations provide strict rules for their operations. Spear and Bowen (1999) also describe the Toyota Production system as a paradox between rigid processes and flexible responsiveness. Jones and Linderman (2014) call this a trade-off between innovation and efficiency of manufacturing plants. However, LM is centred on improvement (Jasti & Kodali, 2015), and increasing innovativeness is occasionally presented as an important mechanism for LM (Lyons, Vidamour, Jain, & Sutherland, 2013). In addition, various human resource (HR) oriented LM practices (e.g. diverse training, teamwork, and flatter hierarchies) (Olivella, Cuatrecasas, & Gavilan, 2008) are often listed among general attributes of innovation fostering environments (Dul & Ceylan, 2014; Fiates, Fiates, Serra, & Ferreira, 2010). Together, the outlined contradictions raise the question as to whether, and in which way, the implementation of LM affects the ability of manufacturing organisations to generate process innovations.

1- Introduction

2- Materials and methods

3- Results

4- Discussion of results

5- Conclusion and Outlook

References

Abstract

Blockchain aims to transform businesses and other forms of transactions from a centralized, human-based to a shared, algorithm-based trust model, which enables a new risk management paradigm. Misaligned incentives in different principal – agent scenarios are important risk factors from governance point of view. With blockchain, these misalignments are accounted for algorithmically, therefore novel governance models are possible. What role do risks play in terms of deciding for, or against the adoption of blockchain? How to best define requirements to achieve it? This paper explores standards and risk as factors, which can support or hinder the sustained application of blockchain in a broad scope of environments. We conducted a systematic literature review that outlines a current understanding of perceived risk surrounding the adoption and use of blockchain technology in the context of requirements engineering. Furthermore, selected models for managing risks are presented. Finally, areas where deeper research is required are identified. We conclude that a gap exists in normative frameworks that affect the adoption and sustainable use of blockchain technology. Closing this gap can support the sustainable use of blockchain technology.

Introduction

Blockchain is a shared, distributed and synchronized ledger that facilitates the process of recording transactions and tracking assets in a business network. An asset can be tangible, such as a house, car, money, land, or intangible, such as intellectual property, energy, patents or copyright. Virtually anything of value can be tracked and traded on a blockchain network [12]. A ledger is comprised of unchangeable, digitally recorded data in blocks. These blocks are stored in a chain and are spread across multiple servers in a public or private peer-to-peer network to eliminate manipulation. The synchronization of the ledger database, the agreement of content and transactions within the ledger, requires a validating consensus protocol between all parties [3]. The protocol effectively manages the risks associated with entries on the ledger, e.g., double spending. Blockchains can be either private, or permissioned, which allows only selected parties to submit and validate transactions, or public and unpermissioned, which enables anybody to submit a transaction and participate in validating the network. Hybrid versions exist as well. These alternatives present different challenges with respect to risk management. There appears to be high expectations and potential promise for blockchain technology’s contribution to sustainable socio-economic advances, due to the technology’s functions for increasing the transparency and traceability of goods, services and any other assets, facilitating market access and improving the efficiency of transactions.