Location factors and ecosystem embedding of sustainability-engaged blockchain companies in the US. A web-based analysis

Kinne, Jan ; Dehghan, Robert ; Schmidt, Sebastian ; Lenz, David ; Hottenrott, Hanna

Document Type: Conference presentation
Year of publication: 2023
Conference title: The Symposium on Spatiotemporal Data Science
Location of the conference venue: Cambridge, MA
Date of the conference: 15.07.2023
Related URLs:
Publication language: English
Institution: Business School > Mittelstandsforschung u. Entrepreneurship (Woywode 2007-)
Außerfakultäre Einrichtungen > Institut für Mittelstandsforschung (ifm)
Subject: 330 Economics
Abstract: While many digital technologies provide opportunities for creating business models with an impact on sustainability, some technologies, especially blockchain applications, are criticized for harming the environment, e.g. due to high energy demand. In our study, we present a novel approach to identify sustainability-focused blockchain companies and relate their level of engagement to location factors and entrepreneurial ecosystem embeddedness. For this, we use a large-scale web scraping approach to analyze the textual content and hyperlink networks of all US companies from their websites. Our results show that blockchain remains a niche technology, with its use communicated by about 0.6% of US companies. However, the proportion of sustainable blockchain firms is significantly higher than in the overall firm population. Additionally, we find that blockchain companies with an intensified focus on sustainability have, at least quantitatively, a more intensive embedding in entrepreneurial ecosystems, while infrastructural and socio-economic location factors hardly play a role.

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