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New doctoral dissertation
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2024-05-31
New doctoral dissertation
VILNIUS TECH Library invites you to follow the published new dissertations. The dissertation „Assessment of Blockchain’s Impact on Crowdfunding“ prepared by Santautė Venslavienė. The dissertation was prepared in 2019–2024, supervisor Prof. Dr Jelena Stankevičienė.
The dissertation was be defended at the public meeting of the Dissertation Defense Council of the Scientific Field of Economics in the SRA-I Hall of Vilnius Gediminas Technical University at 1 p.m. on 31 May 2024.
During the Global Financial Crisis (2008), many large banks in the most advanced economies of the world failed. This boosted distrust in these massive financial institutions. Repeated computer hacking attacks demolished trust even further. Therefore, decentralized systems, such as blockchain technology, became very attractive. Recent crowdfunding and blockchain technology, while being critical applications of the FinTech industry, might disrupt traditional financial intermediation and serve as alternatives for financing new businesses. Blockchain-based crowdfunding has become a significant economic phenomenon and an essential approach to financing businesses. Blockchain can help crowd-funds eliminate financial intermediaries and reduce costs and transaction documentation. The main goal of this research is to develop and empirically test an integrated model for assessing the impact of blockchain on crowdfunding, the application of which would allow rational economic and investment decisions. Hence, the theoretical framework for evaluating blockchain’s impact on crowdfunding was proposed. The framework recommends the assessment of the blockchain’s impact from the perspective of investors and crowdfunding platforms. Additionally, the proposed new model for assessing the blockchain’s impact on crowdfunding involves modeling tools like ARIMA for forecasting crowdfunding revenues, the use of VASMA and modified VASMA-L criteria weighting methods that consider both WASPAS-SVNS (subjective) and information entropy (objective) weights. The modified VASMA-L weighting methodology is a novelty to scientific literature as it was developed while formulating this research. According to this methodology, modified VASMA-L criteria weighting methodology can be applied to extensive criteria sets by separating them into smaller subsets and later comparing overall results to get the most significant factors of the entire criteria set. This research implemented and tested the evaluation model’s practical suitability to assess blockchain’s impact on crowdfunding and empirical research methodology. The results show that blockchain technology impacts crowdfunding platforms and their technical structure, while investors see little difference in its impact when investing in crowdfunding campaigns. Finally, this research proves that blockchain technology can support crowd-funding platforms.
Doctoral dissertation readers can search via VILNIUS TECH Virtual Library.
The dissertation was be defended at the public meeting of the Dissertation Defense Council of the Scientific Field of Economics in the SRA-I Hall of Vilnius Gediminas Technical University at 1 p.m. on 31 May 2024.
During the Global Financial Crisis (2008), many large banks in the most advanced economies of the world failed. This boosted distrust in these massive financial institutions. Repeated computer hacking attacks demolished trust even further. Therefore, decentralized systems, such as blockchain technology, became very attractive. Recent crowdfunding and blockchain technology, while being critical applications of the FinTech industry, might disrupt traditional financial intermediation and serve as alternatives for financing new businesses. Blockchain-based crowdfunding has become a significant economic phenomenon and an essential approach to financing businesses. Blockchain can help crowd-funds eliminate financial intermediaries and reduce costs and transaction documentation. The main goal of this research is to develop and empirically test an integrated model for assessing the impact of blockchain on crowdfunding, the application of which would allow rational economic and investment decisions. Hence, the theoretical framework for evaluating blockchain’s impact on crowdfunding was proposed. The framework recommends the assessment of the blockchain’s impact from the perspective of investors and crowdfunding platforms. Additionally, the proposed new model for assessing the blockchain’s impact on crowdfunding involves modeling tools like ARIMA for forecasting crowdfunding revenues, the use of VASMA and modified VASMA-L criteria weighting methods that consider both WASPAS-SVNS (subjective) and information entropy (objective) weights. The modified VASMA-L weighting methodology is a novelty to scientific literature as it was developed while formulating this research. According to this methodology, modified VASMA-L criteria weighting methodology can be applied to extensive criteria sets by separating them into smaller subsets and later comparing overall results to get the most significant factors of the entire criteria set. This research implemented and tested the evaluation model’s practical suitability to assess blockchain’s impact on crowdfunding and empirical research methodology. The results show that blockchain technology impacts crowdfunding platforms and their technical structure, while investors see little difference in its impact when investing in crowdfunding campaigns. Finally, this research proves that blockchain technology can support crowd-funding platforms.
Doctoral dissertation readers can search via VILNIUS TECH Virtual Library.
