Blockchain adoption for SMEs: opportunities and challenges
Yassine Idel Mahjoub, M. Hassoun, Damien Trentesaux
Abstract
Small and medium-sized enterprises (SMEs) are the backbone of economies and are recognized as an engine of sustainable economic development in developed and developing countries. Nonetheless, SMEs still face many challenges due to market globalization and escalating competition. Thanks to its salient features, blockchain is a promising technology that could provide cost-efficient and transparent solutions to these challenges. This paper provides insights and explores the opportunities and challenges of incorporating Blockchain technology in SMEs. Further, we present some established SME-focused projects, initiatives, and blockchain platforms. Finally, we point out some open research issues and outline future research directions.