A Framework for the Profitable Integration of Distributed Ledger Technologies in Enterprise Networks

Authors

  • Tan Gürpinar Quinnipiac University
  • Michael Henke TU Dortmund University
  • Boris Düdder University of Copenhagen

DOI:

https://doi.org/10.5195/ledger.2025.395

Keywords:

Distributed Ledger Technology, Business Efficiency, Governance, Vertical & Horizontal Integration

Abstract

Distributed ledger technologies (DLT) have been piloted in enterprises to improve transparency and trust relationships among multiple partners but have not managed to mature as planned. Even though most implementation projects demonstrate various opportunities for the involved partners, enterprises experience difficulties in assessing the technology’s impact on profitability in order to make valid investment decisions and improve productivity. This paper employs the dynamic capabilities theory to explore how enterprises can adapt and leverage DLT for improved profitability. It presents an applicable profitability assessment model and a collection of quantitative profitability factors of DLT in enterprise networks. The framework and its associated models are developed through an inductive Grounded Theory-based approach, composed of literature reviews and qualitative empirical studies from 40 participating mixed-industry blockchain, tangle, and hashgraph experts. To retrieve profitability factors in a structured manner, the framework features an integration model covering necessary assessment steps; a taxonomy and heat map characterizing the maturity and assessment situation of the DLT; as well as an assessment model to identify and monetize profitability factors.

References

Al-Jaroodi, J., Mohamed, N. “Blockchain in Industries: A Survey.” IEEE Access 7 36500–36515 (2019) https://doi.org/10.1109/ACCESS.2019.2903554.

Barney, J. “Firm Resources and Sustained Competitive Advantage.” Journal of Management 17.1 99–120 (1991) https://doi.org/10.1177/014920639101700108.

Barreau, D. “The Hidden Costs of Implementing And Maintaining Information Systems.” The Bottom Line 14.4 207–213 (2001) https://doi.org/10.1108/08880450110408481.

Beck, R., Avital, M., Rossi, M., Thatcher, J. B. “Blockchain Technology in Business and Information Systems Research.” Business & Information Systems Engineering 59 381–384 (2017) https://doi.org/10.1007/s12599-017-0505-1.

Bons, D., Gürpinar, T., Nguyen Thi, T. T., Kirn, N. Rechtssichere Nutzung Blockchain-Basierter Smart Contracts. Dortmund: Fraunhofer IML (2022) https://doi.org/10.24406/publica-29.

Bourbon, B., Murimi, R. “Decentralization, Blockchains, and the Development of Smart Communities in Economically Challenging Environments.” Ledger 9 (2024) https://doi.org/10.5195/ledger.2024.302.

Calder, B. J. “Focus Groups and the Nature of Qualitative Marketing Research.” Journal of Marketing Research 14.3 353–364 (1977) https://doi.org/10.1177/002224377701400311.

Carland, J. W., Hoy, F., Boulton, W. R., Carland, J. A. C. “Differentiating Entrepreneurs from Small Business Owners: A Conceptualization*.” In Cuervo, Á., Ribeiro, D, Roig, S. (Eds.) Entrepreneurship Berlin, Heidelberg: Springer 73-81 (2007) https://doi.org/10.1007/978-3-540-48543-8_3.

Caro, M. P., Ali, M. S., Vecchio, M., Giaffreda, R. “Blockchain-Based Traceability in Agri-Food Supply Chain Management: A Practical Implementation.” In 2018 IoT Vertical and Topical Summit on Agriculture - Tuscany (IOT Tuscany) 1-4 (2018) https://doi.org/10.1109/IOT-TUSCANY.2018.8373021.

Chen, J., Cai, T., He, W., Chen, L., Zhao, G., Zou, W., Guo, L. “A Blockchain-Driven Supply Chain Finance Application for Auto Retail Industry.” Entropy 22 (2020) https://doi.org/10.3390/e22010095.

Cocco, L., Tonelli, R., Marchesi, M. “Blockchain and Self Sovereign Identity to Support Quality in the Food Supply Chain.” Future Internet 13.12 301 (2021) https://doi.org/10.3390/fi13120301.

Cole, R., Stevenson, M., Aitken, J. “Blockchain Technology: Implications for Operations and Supply Chain Management.” Supply Chain Management 24.4 469-483 (2019) https://doi.org/10.1108/SCM-09-2018-0309.

Cooper, H. M. “Organizing Knowledge Syntheses: A Taxonomy of Literature Reviews.” Knowledge in Society 1 104–126 (1988) https://doi.org/10.1007/BF03177550.

Della Valle, F., Oliver, M. “Blockchain Enablers for Supply Chains: How to Boost Implementation in Industry.” IEEE Access 8 209699–209716 (2020) https://doi.org/10.1109/ACCESS.2020.3038463.

Denk, N., Kaufmann, L., Carter, C. R. “Increasing the Rigor of Grounded Theory Research – A Review of the SCM Literature.” International Journal of Physical Distribution & Logistics Management 42 742–763 (2012) https://doi.org/10.1108/09600031211269730.

Dib, O., Brousmiche, K.-L., Durand, A. , Thea, E., Hamida, E. “Consortium Blockchains: Overview, Applications and Challenges.” International Journal on Advances in Telecommunications 11 (2018) https://personales.upv.es/thinkmind/dl/journals/tele/tele_v11_n12_2018/tele_v11_n12_2018_5.pdf.

Downey, L. X., Bauchot, F., Roling, J. “Blockchain for Business Value: A Contract and Work Flow Management to Reduce Disputes Pilot Project.” IEEE Engineering Management Review 46.4 86–93 (2018) https://doi.org/10.1109/EMR.2018.2883328.

Düdder, B., et al. “Interdisciplinary Blockchain Education: Utilizing Blockchain Technology From Various Perspectives.” Frontiers in Blockchain 3 578022 (2020) https://doi.org/10.3389/fbloc.2020.578022.

Eggers, J., Hein, A., Weking, J., Böhm, M, Krcmar, H. “Process Automation on the Blockchain: An Exploratory Case Study on Smart Contracts.” In Proceedings of the 54th Hawaii International Conference on System Sciences 5607-5616 (2021) https://hdl.handle.net/10125/71301.

Giaglis, G. M., Mylonopoulos, N., Doukidis, G. I., The ISSUE Methodology for Quantifying Benefits from Information Systems.” Logistics Information Management 12.1/2 50–62 (1999) https://doi.org/10.1108/09576059910256259.

Glaser, B. G., Theoretical Sensitivity: Advances in the Methodology of Grounded Theory. Mill Valley, California: The Sociology Press (1978).

Große, N., Guerpinar, T., Henke, M. “Blockchain-Enabled Trust in Intercompany Networks Applying the Agency Theory.” In BIOTC '21: Proceedings of the 2021 3rd Blockchain and Internet of Things Conference 8-14 (2021) https://doi.org/10.1145/3475992.3475994.

Grünewald, A., Gürpinar, T., Culotta, C., Guderian, A. “Taxonomy for Blockchain-Based Business Models in Enterprise Networks.” Information Systems and e-Business Management 22 633-655 (2024) https://doi.org/10.1007/s10257-024-00673-3.

Guerpinar, T., Guadiana, G., Ioannidis, P., Straub, N., Henke, M. “The Current State of Blockchain Applications in Supply Chain Management.” In ICBCT '21: Proceedings of the 2021 3rd International Conference on Blockchain Technology 168-175 (2021) https://doi.org/10.1145/3460537.3460568.

Gürpinar, T., Austerjost, M., Kamphues, J., Maaßen, J., Yildirim, F., Henke, M. “Blockchain Technology as the Backbone of the Internet Of Things – A Taxonomy of Blockchain Devices.” In Proceedings of the Conference on Production Systems and Logistics (CPSL 2022) 733-743 (2022) https://doi.org/10.15488/12170.

Gürpinar, T., et al. “Blockchain Technology in Supply Chain Management – A Discussion of Current and Future Research Topics.” In Paiva, S., et al. (Eds.) Science and Technologies for Smart Cities 442 Cham: Springer (2022) https://doi.org/10.1007/978-3-031-06371-8_32.

Gürpinar, T., Harre, S., Henke, M., Saleh, F. “Blockchain Technology – Integration in Supply Chain Processes.” In Proceedings of the Hamburg International Conference of Logistics (HICL) 29 153-185 (2020) https://doi.org/10.15480/882.3117.

Gürpinar, T., Henke, M., Ashraf, R. “Integrating Blockchain Technology in Supply Chain Management - A Process Model with Evidence from Current Implementation Projects.” In Proceedings of the 57th Hawaii International Conference on System Sciences 4536-4545 (2024) https://hdl.handle.net/10125/106929.

Hackius, N., Petersen, M. “Translating High Hopes Into Tangible Benefits: How Incumbents in Supply Chain and Logistics Approach Blockchain.” IEEE Access 8 34993–35003 (2020) https://doi.org/10.1109/ACCESS.2020.2974622.

Heines, R., Gürpinar, T. “Towards a Typology of Blockchain-based Applications a Conceptualization from a Business Perspective.” In Konferenzband zum Scientific Track der Blockchain Autumn School 2021 92-101 (2021) https://doi.org/10.48446/opus-13082.

Henke, M. Strategische Kooperationen im Mittelstand: Potentiale des Coopetition-Konzeptes für kleine und mittlere Unternehmen. Sternenfels: Verlag Wissenschaft & Praxis (2003).

Henke, M., Besenfelder, C., Kaczmarek, S., Fiolka, M. “A Vision of Digitalization in Supply Chain Management and Logistics.” In Proceedings of the Conference on Production Systems and Logistics (CPSL 2020) 277-286 (2020) https://doi.org/10.15488/9669.

Holstein, J. A. Handbook of Constructionist Research. New York: Guilford Publications (2013).

Hu, X. “Research on Profit Maximization of New Retail E-Commerce Based on Blockchain Technology.” Wireless Communications and Mobile Computing 1–8 (2020) https://doi.org/10.1155/2020/8899268.

Huber, G. P. A Theory of the Effects of Advanced Information Technologies on Organizational Design, Intelligence, and Decision Making.” The Academy of Management Review 15.1 47-71 (1990) https://doi.org/10.5465/AMR.1990.4308227.

Ilbiz, E., Durst, S. “The Appropriation of Blockchain for Small and Medium-sized Enterprises.” Journal of Innovation Management 7.1 26–45 (2019) https://doi.org/10.24840/2183-0606_007.001_0004.

Jensen, T., Hedman, J., Henningsson, S. “How TradeLens Delivers Business Value With Blockchain Technology.” MIS Quarterly Executive 18.4 221–243 (2019) https://doi.org/10.17705/2msqe.00018.

Karakas, S., Acar, A. Z., Kucukaltan, B. “Blockchain Adoption in Logistics and Supply Chain: A Literature Review and Research Agenda.” International Journal of Production Research 62.22 8193-8216 (2021) https://doi.org/10.1080/00207543.2021.2012613.

Keogh, J., Rejeb, A., Khan, N., Dean, K., Hand, K. “Optimizing Global Food Supply chains: The Case for Blockchain and GSI Standards.” In Detwiler, D. (Eds.) Academic Press 171-204 (2020) https://doi.org/10.1016/B978-0-12-818956-6.00017-8.

Kesten, R., Müller, A., Schröder, H. IT-Controlling: IT-Strategie, Multiprojektmanagement, Projektcontrolling und Performancekontrolle. München: Vahlen (2013).

Kundisch, D., Muntermann, J., Oberländer, A. M, Rau, D., Röglinger, M., Schoormann, T., Szopinski, D. “An Update for Taxonomy Designers.” Business & Information Systems Engineering 64.4 421-439 (2021) https://doi.org/10.1007/s12599-021-00723-x.

Larsen, S. B., Hansen, Z. N. L., Haug, A., Hvam, L., Jacobsen P. “When Reverse Supply Chain Makes Financial Sense: A Study of Factors Affecting Profitability in Reverse Supply Chains.” International Journal of Sustainable Engineering 15.1 35–45 (2022)https://doi.org/10.1080/19397038.2022.2039322.

Luo, Y., Ling, H. “Exploration and Exploitation of Information Systems Usage and Individual Performance.” Procedia Computer Science 22 863–872 (2013) https://doi.org/10.1016/j.procs.2013.09.169.

Lustenberger, M., Spychiger, F. “Blockchain in Supply Chains: An Unfulfilled Promise.” Supply Chain Management 30.2 (2025) https://doi.org/10.1108/SCM-03-2024-0192.

Macdonald, J. R., Corsi, T. M. “Supply Chain Disruption Management: Severe Events, Recovery, and Performance.” Journal of Business Logistics 34.4 270–288 (2013) https://doi.org/10.1111/jbl.12026.

Martinez, V., Zhao, M., Blujdea, C., Han, X., Neely, A., Albores, P. “Blockchain-Driven Customer Order Management.” International Journal of Operations & Product Management 39.6/7/8 993–1022 (2019) https://doi.org/10.1108/IJOPM-01-2019-0100.

Melville, N., Kraemer, K., Gurbaxani, V. “Review: Information Technology and Organizational Performance: An Integrative Model of IT Business Value.” MIS Quarterly 28.2 283-322 (2004) https://doi.org/10.2307/25148636.

Mentzer, J. T., DeWitt, W., Keebler, J. S., Min, S., Nix, N. W., Smith, C. D., Zacharia, Z. G., “Defining Supply Chain Management.” Journal of Business Logistics 22 1-25 (2001) https://doi.org/10.1002/j.2158-1592.2001.tb00001.x.

Mills, J., Bonner, A., Francis, K. “Adopting a Constructivist Approach to Grounded Theory: Implications for Research Design.” International Journal of Nursing Practice 12.1 8-13 (2006) https://doi.org/10.1111/j.1440-172X.2006.00543.x.

Misoch, S. Qualitative Interviews. Berlin, München, Boston: De Gruyter Oldenbourg (2015) https://doi.org/10.1515/9783110354614.

Mithas, S., Tafti, A., Bardhan, I., Goh, J. M. “Information Technology and Firm Profitability: Mechanisms and Empirical Evidence,” MIS Quarterly 36.1 205-224 (2012) https://doi.org/10.2307/41410414.

Morabito, V. Business Innovation through Blockchain: The B3 Perspective. Cham: Springer (2017).

Nguyen, T.T.H. “Measuring Supply Chain Performance Using the SCOR Model.” Operations Research Forum 5.37 (2024) https://doi.org/10.1007/s43069-024-00314-y.

Nickerson, R. C., Varshney, U., Muntermann, J. “A Method for Taxonomy Development and Its Application in Information Systems.” European Journal of Information Systems 22.3 336–359 (2013) https://doi.org/10.1057/ejis.2012.26.

Nikelowski, L., Brüning, S., Gürpinar, T., Schwarzer, M., Tasler, T. “How to Identify and Estimate Cost Factors of Enterprise Blockchain Solutions.” In Yurish, S. (Ed.) Proceedings of the 3rd Blockchain and Cryptocurrency Conference (B2C’ 2024) 84-87 (2024) https://sensorsportal.com/B2C/B2C_2024_Proceedings.pdf.

No Author. “Gartner Says 80% of Supply Chain Blockchain Initiatives Will Remain at a Pilot Stage Through 2022.” Gartner (23 January 2022) https://www.gartner.com/en/newsroom/press-releases/2020-01-23-gartner-says-80--of-supply-chain-blockchain-initiativ.

No Author. “Putting Blockchain to the Test: Key Findings from Germany’s Largest Cross-Company Pilot Project.” GS1 Germany (2018) https://www.gs1-germany.de/fileadmin/gs1/basis_informationen/putting_blockchain_to_the_test.pdf.

Önder, I., Treiblmaier, H. “Blockchain and Tourism: Three Research Propositions.” Annals of Tourism Research 72 180–182 (2018) https://doi.org/10.1016/j.annals.2018.03.005.

Pai, S. et al., “Is Blockchain the Key to a New Age of Transparency and Trust in the Supply Chain? How Organizations Have Moved from Blockchain Hype to Reality.” Capgemini (2018) https://www.capgemini.com/gb-en/insights/research-library/does-blockchain-hold-the-key-to-a-new-age-in-supply-chain-transparency-and-trust/.

Pandey, A. K., Daultani, Y., Pratap, S. “Blockchain Technology Enabled Critical Success Factors for Supply Chain Resilience and Sustainability.” Business Strategy and the Environment 33.2 1533-1554 (2023) https://doi.org/10.1002/bse.3548.

Penrose, E. The Theory of the Growth of the Firm. Oxford: Oxford University Press (1959).

Rambe, P. “Unravelling Managerial Competencies and the Profitability of Small Technology-Oriented Businesses: A Case of Public Access Venues in an Emerging Economy.” SA Journal of Human Resource Management 16 a1045 (2018) https://doi.org/10.4102/sajhrm.v16i0.1045.

Rauniyar, K., Wu, X., Gupta, S., Modgil, S., Lopes de Sousa Jabbour, A. B. “Risk Management of Supply Chains in the Digital Transformation Era: Contribution and Challenges of Blockchain Technology.” Industrial Management & Data Systems 123.1 (2022) https://doi.org/10.1108/IMDS-04-2021-0235.

Roeck, D., Sternberg, H., Hofmann, E. “Distributed Ledger Technology in Supply Chains: A Transaction Cost Perspective.” International Journal of Production Research 58.7 2124–2141 (2020) https://doi.org/10.1080/00207543.2019.1657247.

Rothaermel, F. T. “Competitive Advantage in Technology Intensive Industries.” In Libecap, G, Thursby, M. C. (Eds.) Technological Innovation: Generating Economic Results. Bradford: Emerald Group 201–225 (2008).

Saloojee, R., Groenewald, D., Du Toit, A. S. A. “Investigating the Business Value of Information Management.” South African Journal of Information Management 9.1 (2007) https://doi.org/10.4102/sajim.v9i1.17.

Sambamurthy, V., Bharadwaj, A., Grover, V. “Shaping Agility through Digital Options: Reconceptualizing the Role of Information Technology in Contemporary Firms.” MIS Quarterly 27.2 237-263 (2003) https://doi.org/10.2307/30036530.

Schneider, S., Leyer, M., Tate, M. “The Transformational Impact of Blockchain Technology on Business Models and Ecosystems: A Symbiosis of Human and Technology Agents.” IEEE Transactions on Engineering Management 67.4 1184–1195 (2020) https://doi.org/10.1109/TEM.2020.2972037.

Setia, P., Richardson, V., Smith, R. J. Business Value of Partner’s IT Intensity: Value Co-Creation and Appropriation Between Customers and Suppliers.” Electron Markets 25 283–298 (2015) https://doi.org/10.1007/s12525-015-0189-7.

Spall, S. “Peer Debriefing in Qualitative Research: Emerging Operational Models.” Qualitative Inquiry 4.2 280-292 (1998) https://doi.org/10.1177/107780049800400208.

Sternberg, H. S., Hofmann, E., Roeck, D. “The Struggle Is Real: Insights from a Supply Chain Blockchain Case.” Journal of Business Logistics 42.1 71-87 (2021) https://doi.org/10.1111/jbl.12240.

Stranieri, S., Riccardi, F., Meuwissen, M. P. M., Soregaroli, C. “Exploring the Impact of Blockchain on the Performance of Agri-Food Supply Chains.” Food Control 119 107495 (2021) https://doi.org/10.1016/j.foodcont.2020.107495.

Tasca P, Tessone, C. J. “A Taxonomy of Blockchain Technologies: Principles of Identification and Classification.” Ledger 4 (2019) https://doi.org/10.5195/ledger.2019.140.

Teece, D. J., Pisano, G., Shuen, A. “Dynamic Capabilities and Strategic Management.” Strategic Management Journal 18.7 509–533 (1997) https://doi.org/10.1002/(SICI)1097-0266(199708)18:7%3C509::AID-SMJ882%3E3.0.CO;2-Z.

Tönnissen, S., Beinke, J. H., Teuteberg, F. “Understanding Token-Based Ecosystems – A Taxonomy of Blockchain-Based Business Models of Start-Ups.” Electron Markets 30 307–323 (2020) https://doi.org/10.1007/s12525-020-00396-6.

Tönnissen, S., Teuteberg, F. “Analysing the Impact of Blockchain-Technology for Operations and Supply Chain Management: An Explanatory Model Drawn from Multiple Case Studies.” International Journal of Information Management 52 101953 (2020) https://doi.org/10.1016/j.ijinfomgt.2019.05.009.

Van de Ven, A. H. Engaged Scholarship: A Guide for Organizational and Social Research. Oxford: Oxford University Press (2007).

vom Brocke, J., Simons, A., Niehaves, B., Niehaves, B., Reimer, K., Plattfaut, P., Cleven, A. “Reconstructing the Giant: On the Importance of Rigour in Documenting the Literature Search Process.” In ECIS 2009 Proceedings 161 (2009) https://aisel.aisnet.org/ecis2009/161.

Wamba, S. F., Queiroz, M. M. “Blockchain in the Operations and Supply Chain Management: Benefits, Challenges and Future Research Opportunities.” International Journal of Information Management 52 102064 (2020) https://doi.org/10.1016/j.ijinfomgt.2019.102064.

Wang, B., Lin, Z., Wang, M., Wang, F, Xiangli, P., Li, Z. “Applying Blockchain Technology to Ensure Compliance with Sustainability Standards in the PPE Multi-Tier Supply Chain.” International Journal of Production Research 61.14 1-17 (2022) https://doi.org/10.1080/00207543.2022.2025944.

Webster, J., Watson, R. T., “Analyzing the Past to Prepare for the Future: Writing a Literature Review.” MIS Quarterly 26.2 xiii-xxiii (2002) https://www.jstor.org/stable/4132319.

Weking, J., Mandalenakis, M., Hein, A., Hermes, S., Böhm, M., Krcmar, H. “The Impact of Blockchain Technology on Business Models – A Taxonomy and Archetypal Patterns.” Electron Markets 30 285–305 (2020) https://doi.org/10.1007/s12525-019-00386-3.

Downloads

Additional Files

Published

2025-05-13

How to Cite

Gürpinar, T., Henke, M., & Düdder, B. (2025). A Framework for the Profitable Integration of Distributed Ledger Technologies in Enterprise Networks. Ledger, 10. https://doi.org/10.5195/ledger.2025.395

Issue

Vol. 10 (2025)

Section

INATBA Blockchain Horizons Invitational

License

Copyright (c) 2025 Tan Gürpinar, Michael Henke, Boris Düdder

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

Authors who publish with this journal agree to the following terms:

  1. The Author retains copyright in the Work, where the term “Work” shall include all digital objects that may result in subsequent electronic publication or distribution.
  2. Upon acceptance of the Work, the author shall grant to the Publisher the right of first publication of the Work.
  3. The Author shall grant to the Publisher and its agents the nonexclusive perpetual right and license to publish, archive, and make accessible the Work in whole or in part in all forms of media now or hereafter known under a Creative Commons Attribution 4.0 International License or its equivalent, which, for the avoidance of doubt, allows others to copy, distribute, and transmit the Work under the following conditions:
    1. Attribution—other users must attribute the Work in the manner specified by the author as indicated on the journal Web site;
    with the understanding that the above condition can be waived with permission from the Author and that where the Work or any of its elements is in the public domain under applicable law, that status is in no way affected by the license.
  4. The Author is able to enter into separate, additional contractual arrangements for the nonexclusive distribution of the journal's published version of the Work (e.g., post it to an institutional repository or publish it in a book), as long as there is provided in the document an acknowledgement of its initial publication in this journal.
  5. Authors are permitted and encouraged to post online a prepublication manuscript (but not the Publisher’s final formatted PDF version of the Work) in institutional repositories or on their Websites prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work. Any such posting made before acceptance and publication of the Work shall be updated upon publication to include a reference to the Publisher-assigned DOI (Digital Object Identifier) and a link to the online abstract for the final published Work in the Journal.
  6. Upon Publisher’s request, the Author agrees to furnish promptly to Publisher, at the Author’s own expense, written evidence of the permissions, licenses, and consents for use of third-party material included within the Work, except as determined by Publisher to be covered by the principles of Fair Use.
  7. The Author represents and warrants that:
    1. the Work is the Author’s original work;
    2. the Author has not transferred, and will not transfer, exclusive rights in the Work to any third party;
    3. the Work is not pending review or under consideration by another publisher;
    4. the Work has not previously been published;
    5. the Work contains no misrepresentation or infringement of the Work or property of other authors or third parties; and
    6. the Work contains no libel, invasion of privacy, or other unlawful matter.
  8. The Author agrees to indemnify and hold Publisher harmless from Author’s breach of the representations and warranties contained in Paragraph 6 above, as well as any claim or proceeding relating to Publisher’s use and publication of any content contained in the Work, including third-party content.
  9. The Author agrees to digitally sign the Publisher’s final formatted PDF version of the Work.

Revised 7/16/2018. Revision Description: Removed outdated link.