Communicating Corporate Social Responsibility (CSR): How Can Blockchain Help CSR Communication

Abstract

During the past few decades, corporate social responsibility (CSR) has become an essential part of enterprises' marketing strategy not only through the rise of public awareness on social and environmental matters, but also the resulting demand for correct CSR communication. However, there are common difficulties companies face in communicating their CSR actions, and there is a need for a solution. Therefore, this thesis identifies these common difficulties of CSR communication based on existing peer-reviewed literature and proposes implementing blockchain as a solution for these difficulties. Blockchain is a technology system of recording information in a way that makes it practically impossible to change or cheat the system. Blockchain provides the needed transparency, traceability, accountability and decentralization that CSR communication lacks currently. Thus, the objective of this thesis is to investigate what are common difficulties in CSR communication and furthermore, what are the benefits of blockchain and could these benefits overcome the identified difficulties. The findings are based on the existing and suggest that there is a significant business potential in utilizing blockchain in companies CSR actions and therefore communications.