Towards a Critical Realist Epistemology for Blockchain Research
TL;DR
This paper suggests that while the former paradigm provides a great opportunity to model the deterministic and immutable aspects of blockchain as an object, the latter – to explore the subjective views of human actors, neither of them independently takes into consideration the complex interaction of the sociotechnical processes that accompany blockchain implementation.
Abstract
Although the transformative power of blockchain technology in the context of various global governance frameworks has been widely noted, the emergence of blockchain as an Information System (IS) artifact remains poorly supported by the consolidated and robust epistemological framework. This paper fills the gap by critically evaluating the blockchain technology using the lenses of the three main IS research paradigms: positivism, interpretivism, and critical theory. This paper suggests that while the former paradigm provides a great opportunity to model the deterministic and immutable aspects of blockchain as an object, and the latter – to explore the subjective views of human actors, neither of them independently takes into consideration the complex interaction of the sociotechnical processes that accompany blockchain implementation. Therefore, it is proposed to adopt the philosophical approach of Critical Realism (CR), combining the epistemological perspectives of CR and the process-based research approach outlined by J.D. Roode.