Abstract
Blockchain technology is changing the way firms and markets are organized. Given how it changes contract-based relationships and information sharing, dismissing the need for a third party, this technology questions several assumptions of common International Business (IB) theories. Based on transaction costs theory, this study explores how these changes impact firm and institutional levels and claim for an expansion of these theoretical debates held on the digital economy. In doing so, we connect the blockchain definition and tools’ applicability to the main transaction costs discussed at firm and institutional levels. Our contribution is in offering a more nuanced understanding of how technology shapes modern corporate strategic thinking.