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IdeaChain: a conceptual proposal for blockchain-based STI policy development
Purpose
The purpose of this study is to discuss the possibility of setting up a platform for inclusive policymaking process drawing upon the blockchain concept. The study posits that blockchain also has great potentials in non-financial applications, such as in policymaking, where there is a need for bottom-up approaches with more decentralized, distributed and evidence-based processes.
Design/methodology/approach
The study makes use of an analogy-based creative design methodology. The design science paradigm has its roots in engineering and the sciences of the artificial (Simon, 1996). As a problem-solving paradigm for solving complex engineering issues, design science seeks to create innovations that define the ideas, practices, technical capabilities and products through which the analysis, design, implementation and use of information systems can be effectively and efficiently accomplished. In the present study, the policy development theories and the logic of blockchain are synthesized to prepare a task model for the “IdeaChain” concept as a platform for creating, sharing and validating novel ideas as well as converting them into policies or new ventures through the funding mechanisms.
Findings
The IdeaChain concept is designed and demonstrated through its use in the domain of science, technology and innovation (STI) policy, which can be extended to cover all innovative activities linking the whole process from their emergence, funding, development, implementation and impact upon policy.
Originality/value
Blockchain is mostly discussed in literature with its impact on financial sector. IdeaChain is the first attempt to explore the potentials of blockchain in STI policymaking.