Perspectives on risks and standards that affect the requirements engineering of blockchain technology

Abstract Blockchain aims to transform businesses and other forms of transactions from a centralized, human-based to a shared, algorithm-based trust model, which enables a new risk management paradigm. Misaligned incentives in different principal – agent scenarios are important risk factors from governance point of view. With blockchain, these misalignments are accounted for algorithmically, therefore novel governance models are possible. What role do risks play in terms of deciding for, or against the adoption of blockchain? How to best define requirements to achieve it? This paper explores standards and risk as factors, which can support or hinder the sustained application of blockchain in a broad scope of environments. We conducted a systematic literature review that outlines a current understanding of perceived risk surrounding the adoption and use of blockchain technology in the context of requirements engineering. Furthermore, selected models for managing risks are presented. Finally, areas where deeper research is required are identified. We conclude that a gap exists in normative frameworks that affect the adoption and sustainable use of blockchain technology. Closing this gap can support the sustainable use of blockchain technology.