Adoption and Applications of Blockchain Technology in Marketing: A Retrospective Overview and Bibliometric Analysis

Abstract

Blockchain technology has disrupted the traditional approaches of marketing and introduced altogether contemporary marketing frameworks using its unique capabilities of decentralization, security and transparency. In recent times, this technology has attracted both academicians and practitioners to study the underlying processes and opportunities of the application of blockchain technology in marketing. Although there is an increasing deliberation in researching the use of blockchain in marketing, there exists an intermittent gap in holistic overview of the current trends and future boundaries. This article is an attempt to present a comprehensive current state and prospects of expansion in the research of the application of blockchain technology in marketing using state of the art bibliometric review analysis. The bibliometric analysis using 161 articles from Scopus database revealed the influential aspects of research such as prolific authors, influential documents, countries, affiliations, sources and keywords. Moreover, emerging research streams about the application of blockchain is identified and enumerated using network synthesis and visualization of co-citation, and keywords co-occurrence networks. These findings pave the ways for future research expansion. The results shows that the research on applications of blockchain technology has been maturing over time. However, the research streams reveal that blockchain based marketing framework is still in its infancy stage.

Beneath the surface: a bibliometric analysis of the hidden risks and costs of blockchain technology

“…It can compute generic statistics and show the relationship between chosen objects using the Three-Fields Plot (Phoong et al , 2022; Van Eck and Waltman, 2017). With the help of the Biblioshiny programme, researchers may thoroughly process and analyse bibliographic data and extract the findings in tabular and graphical formats for additional discussion and study (Bashar and Singh, 2022; Singh and Bashar, 2021; Wasiq et al , 2023). On the other hand, VOSviewer produces maps with several elements, develops keyword maps based on shared networks and enables the construction of country maps based on a network (Rahmawati and Subardjo, 2022).…”

“…4.2 Network analysis 4.2.1 Co-occurrence of keywords analysis. Co-occurrence of keywords analysis is a method to highlight the commonalities of content of the scientific literature; essentially, it serves as a thematic index of the keywords used in scientific literature (Corvo et al, 2021;Wasiq et al, 2023). Figure 6 shows the results of a co-occurrence network analysis of the author's keywords.…”

Examining the Relationship between Economic Growth, Financial Development, and Carbon Emissions: A Review of the Literature and Scientometric Analysis

“…The study also intends to know the major research trends, future scope of the study and intellectual structure using review of various research in the domain and network technique (Kayani et al, 2022). Bibliometric analysis is the most widely adopted technique due to its ability to rigorously explore and analyze the large volume of data Wasiq et al, 2023).…”

Evaluate Blockchain – Based Marketing Platforms by AHP Topsis Approach

“…This technology relies on cryptographic security and operates across a computer network, rendering it impervious to control by any single entity or organization. Wasiq et al (2023) argue that blockchain technology has disrupted traditional marketing approaches and introduced entirely contemporary marketing frameworks using its unique capabilities of decentralization, security, and transparency. According to Kaur et al (2022) and Jevremović et al (2022), the integration of blockchain technology into marketing has the potential to breathe new life into the field, addressing its current saturation.…”