Profit Meets Purpose: How Blockchain is Transforming Sustainable Digital Entrepreneurship in Iringa Municipal, Tanzania
Year: 2024
Type: article
Study design: Observational Study
Abstract: In recent years, the importance of sustainability in business has gained prominence, driven by increasing consumer awareness and demand for ethically produced goods and services. Entrepreneurs in Iringa Municipal have begun to recognize the potential of blockchain technology to address local challenges such as poverty, unemployment, and resource scarcity. This study explored the transformative potential of blockchain technology in fostering sustainable digital entrepreneurship. It aimed to understand how blockchain contributed to sustainable development and social impact, identified specific benefits for environmental and social sustainability, and examined the creation of sustainable business models through its implementation. Utilizing a mixed-methods approach, the research gathered data from 108 respondents through surveys and interviews. Key findings revealed that blockchain significantly enhanced transparency, accountability, and collaboration among stakeholders while offering opportunities for ethical sourcing and community empowerment. However, challenges such as regulatory hurdles, technological limitations, and financial constraints emerged as barriers to scaling these initiatives. The study concluded by recommending strategic collaborations among stakeholders to maximize blockchain's benefits for sustainable regional development. This research contributed to the growing body of knowledge on the intersection of technology, entrepreneurship, and sustainability, highlighting blockchain's role in shaping a more sustainable future.
Author: Lusekelo Kibona
Institution: Ruaha Catholic University
Language: English
Subfield: Information Systems
Field: Computer Science
Domain: Physical Sciences
Open Access status: bronze
OpenAlex ID: W4407008560