Abstract Book of the 8th International Conference on Research in Business, Management and Finance
Year: 2025
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Challenges Of Digital Entrepreneurs Entering the Blockchain Sector – A Qualitative Analysis
Ioana Cîmpan, Emil Lucian Crișan
ABSTRACT:
In recent years, Blockchain technology and cryptocurrencies have been trending in the entrepreneurial world, with many digital entrepreneurs moving towards the promising sector. While this field offers numerous opportunities, entering it also comes with new challenges and barriers that diverge from those encountered in classic entrepreneurship. This study seeks to uncover the possible difficulties met by digital entrepreneurs employing a comparative approach. A qualitative research methodology has been adopted to conduct four semi-structured interviews: two with digital entrepreneurs integrating blockchain into an existing digital enterprise, and two with entrepreneurs who use blockchain technology as the fundament of their new enterprise. The interviews have targeted three main areas: the nature of challenges encountered, barriers to entry into the sector, and the profile of digital entrepreneurs within the blockchain domain. Findings firstly reveal that several challenges, such as regulatory uncertainty, incentivization of users, and technological complexity, align with those previously identified by the literature for other entrepreneurial fields. Secondly, new challenges and barriers are identified, such as marketing and promotion for blockchain applications. Conversely, some challenges from the literature have been contested by the participants, proving the sector is evolving and new solutions are constantly being developed. The present study contributes to the current academic research on digital entrepreneurship by offering new insights into blockchain companies and provides valuable insights for both emerging and current entrepreneurs navigating the blockchain space.
Keywords: Adoption, Blockchain technology, Digital entrepreneurship, Digital transformation, Qualitative research