Abstract:

Blockchain technology has become the more attractive invention that captured the intention of business, government, banks, and researchers in the last few years. The avoidance of the intervention of intermediaries in business is now possible by implementing Smart Contracts in Blockchain. 

The aim of this research is to develop a Conceptual Framework that explains how the removal of Intermediaries in Smart Contracts contributes in increasing business value. A systematic literature review is conducted via examining and reviewing a total of 17 recent scientific papers. A deductive content analysis approach has been followed to achieve the objective of this research.

The result of study provides a conceptual framework that explains how the removal of intermediaries in smart contracts increases the business value. Basically, the framework studies six main factors: governance, empowerment, control, management, fairness, and completeness. The main contribution of this research is that it will serve as a base for future studies and will lead to more holistic understanding of Blockchain applications in supply chain area.