Turning the Water–Energy–Food Perfect Storm into Business Opportunities: A Blockchain Framework for South Africa

Abstract

This study examines the “perfect storm” of simultaneous water, energy, and food (WEF) resource challenges in South Africa from a business and entrepreneurial perspective, leveraging blockchain technology. The study aims to analyze the state of the WEF perfect storm in the Republic of South Africa and develop a blockchain-enabled business framework to identify and exploit new entrepreneurial opportunities. The research is grounded in Dynamic Capabilities Theory, emphasizing how firms can adapt, innovate, and reconfigure resources in complex environments. A Systematic Literature Review (SLR) was employed as the qualitative research method. Findings indicate a moderate intensity of the WEF perfect storm in South Africa and support the development of a six-component integrated blockchain business framework for resource optimization. The framework comprises (1) Market Gap Analysis, (2) Product Configuration and Differentiation, (3) Business Case Justification, (4) Digitalization of Administration, (5) Smart Contracts, and (6) Digital Sustainability. The study concludes that the resource crises represented by the perfect storm can be transformed into business and innovation opportunities. It recommends the establishment of a Living Lab within South African WEF agencies to facilitate experimentation, collaboration, and entrepreneurial value creation.

Keywords: Perfect Storm, Blockchain, Entrepreneurship, Innovation, Water–energy–food

DOI: 10.54941/ahfe1007389