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Benedikt Notheisen

Benedikt Notheisen

Office Hours: nach Vereinbarung / by appointment
Room: 482
Phone: +49 (721) 608-48374
benedikt notheisenHub7∂kit edu

Karlsruhe Institute of Technology (KIT)
Fakultät für Wirtschaftswissenschaften
Institut für Informationswirtschaft und Marketing
Fritz-Erler-Straße 23, 76133 Karlsruhe


Research Interests and Methods

  • Financial market innovation
  • Information systems in finance
  • Information system design
  • Blockchain technology
  • Theoretical and empirical models


Lectures, Tutorials, Seminars

Winter Term 2015/16
  • eFinance: Securities Trading (Tutorial)

Summer Term 2016

  • Market Engineering: Information in Institutions (Tutorial)
  • Internet Business Models: Planning and Implementation (Tutorial, Coach)

Winter Term 2016/17

  • eFinance: Securities Trading (Tutorial & Lecture)
  • eCommerce & Human-Computer Interaction (Seminar)

Summer Term 2017

  • The Economics of Blockchain in Finance and Energy (Seminar)

Winter Term 2017/18

  • eFinance: Securities Trading (Tutorial)


HECTOR School of Engineering and Management

Summer Term 2016 
  • Management of Information Systems (Lecture & Tutorial) 
Winter Term 2016/17 
  • Market Engineering: Information in Institutions (Lecture & Tutorial)
Winter Term 2017/18 
  • Management of Information Systems (Lecture & Tutorial) 


Curriculum Vitae

07.2017-10.2017 Visiting PhD Student
03.2016 Research Associate and PhD Candidate
03.2016 Scientific Consultant
03.2016 PhD Student
09.2015-02.2016 Student Researcher
10.2013-02.2016 Master of Science, Industrial Engineering and Management 
Master's Thesis: "CEO Turnover and Dismissal - Theory and Practice"
10.2014-01.2015 Internship, Restructuring and Distressed M&A 
08.2013-09.2014 Working Student, Corporate Controlling and Business Administration
10.2010-09.2013 Bachelor of Science, Industrial Engineering and Management
Bachelor's Thesis: "Potential Deficiencies of Recovery Ratings"
09.2012-01.2013 Exchange Student, Faculty of Economics and Business
08.2008-08.2010 Finanical Consultant (IHK)
Sparkasse Karlsruhe Ettlingen
07.2008 Abitur
Justus-Knecht-Gymnasium Bruchsal


  1. The limits of trust-free systems : A literature review on blockchain technology and trust in the sharing economy.
    Hawlitschek, F.; Notheisen, B.; Teubner, T.
    2018. Electronic commerce research and applications, 29, 50-63. doi:10.1016/j.elerap.2018.03.005
  2. Retail Investor Behavior, Exchanges, and Financial Market Innovation : Insights from the 4th European Retail Investment Conference (ERIC).
    Burghof, H.-P.; Fecker, A.; Koch, C.; Notheisen, B.
    2017. Credit and capital markets, 50 (4), 575-586. doi:10.3790/ccm.50.4.575
  3. Trading Real-World Assets on Blockchain An Application of Trust-Free Transaction Systems in the Market for Lemons.
    Notheisen, B.; Cholewa, J. B.; Shanmugam, A. P.
    2017. Business & information systems engineering, 1-16. doi:10.1007/s12599-017-0499-8
  4. A blockchain-based smart grid: towards sustainable local energy markets.
    Mengelkamp, E.; Notheisen, B.; Beer, C.; Dauer, D.; Weinhardt, C.
    2017. Computer science - research and development, 33 (1-2), 207-214. doi:10.1007/s00450-017-0360-9
  1. Register 4.0 - vom Potenzial blockchainbasierter Publizität für den Mobiliarkredit.
    Gorlow, V.; Notheisen, B.; Simmchen, C.
    2017. Recht 4.0 - Innovationen aus den rechtswissenschaftlichen Laboren / Tagungsband 18. Herbstakademie 2017 ; DSRI, Deutsche Stiftung für Recht und Informatik, Heidelberg, 6. - 9. September 2017. Hrsg.: J. Taeger, 859-872, OlWIR, Verlag für Wirtschaft, Informatik und Recht, Edewecht
  2. Trust-free Systems in the Trust Age? A Review on Blockchain and Trust in the Sharing Economy.
    Hawlitschek, F.; Notheisen, B.; Mertens, C.; Teubner, T.; Weinhardt, C.
    2017. GDN 2017 : Proceedings of the 17th International Conference on Group Decision and Negotiation, University of Hohenheim, Stuttgart, Germany, 14th - 18th August 2017. Ed. : M. Schoop, 97-99, Hohenheim University Press, Stuttgart-Hohenheim
  3. Trading Stocks on Blocks : Engineering Decentralized Markets.
    Notheisen, B.; Gödde, M.; Weinhardt, C.
    2017. Designing the Digital Transformation : Proceedings of the 12th International Conference (DESRIST 2017), Karlsruhe, Germany, May 30 - June 1 2017. Ed.: A. Mädche, 474–478, Springer International Publishing, Cham. doi:10.1007/978-3-319-59144-5_34
  4. Breaking Down the Blockchain Hype – Towards a Blockchain Market Engineering Approach.
    Notheisen, B.; Hawlitschek, F.; Weinhardt, C.
    2017. 25th European Conference on Information Systems (ECIS), Guimarães, Portugal, June 5-10, 2017, 1062-1080, AIS Electronic Library


Smart Properties – Vehicle Ownership & Transfer (Presentation)
Notheisen, B.
Nodic Blockchain Summit, IT University of Copenhagen
August 18, 2016, Copenhagen
Blockchain as an Infrastructure for Financial Markets – Status-quo, Trends, and Implications
Notheisen, B.
Fintech-Days, Stuttgart Financial
November 29, 2016, Stuttgart
Adverse Selection in Financial Markets – Is Blockchain the Answer? (Poster)
Notheisen, B.
1st ForDigital Blockchain Workshop, Karslruhe Institute of Technology, University of Mannheim
February 9 - 10, 2017, Karlsruhe
Trading Stocks on Blocks: Engineering Decentralized Markets (Presentation)
Notheisen, B.
3rd Boerse Stuttgart Research Colloqium
April 4, 2017, Stuttgart
Roundtable “Banking: Infrastrukturen für Settlement und Clearing”
Notheisen, B.
Management Circle - BLOCKCHAIN SUMMIT
April 26 - 27, 2017, Frankfurt
The Economics of Blockchain in Finance
Notheisen, B.
Global Sustainable Finance Conference
July 13 - 14, 2017, Karlsruhe
Current Topics of Blockchain in Finance
Notheisen, B. (with Glaser, F.)
Börsen Initiative Karlsruhe e.V
Januray 10, 2018, Karlsruhe
Blockchain - Technology Basics and Applications
Notheisen, B. 
Chamber of Commerce and Industry (IHK) Rhein-Neckar
April 19, 2018, Heidelberg
The Blockchain, Plums, and Lemons (Lightning Talk, Poster)
Notheisen, B. 
Herrenhausen Conference: Transparency and Society – Between Promise and Peril
June 12 - 14, 2018, Berlin
The Blockchain, Plums, and Lemons (Presentation)
Notheisen, B. 
FinteQC 2018 - The first annual conference on Fintech and Banking Transformation
June 20 - 21, 2018, Lévis (Québec)
Trading Stocks on Blocks - The Quality of Decentralized Markets (Presentation)
Notheisen, B. 
FinteQC 2018 - The first annual conference on Fintech and Banking Transformation
June 20 - 21, 2018, Lévis (Québec)

In the Media

Notheisen, B. (and others)
CyberForum Techtag
January 22, 2018

Review Activities

  • Business & Information Systems Engineering (BISE)
  • 13th International Conference on Wirtschaftsinformatik 2017 (WI)
  • 4th European Retail Investment Conference 2017 (ERIC)
  • 12th International Conference on Design Science Research in Information Systems and Technologies 2017 (DESRIST)
  • 38th International Conference on Information Systems 2017 (ICIS)
  • 51st Hawaii International Conference on System Sciences 2018 (HICSS)
  • 26th European Conference on Information Systems 2018 (ECIS)
  • 39th International Conference on Information Systems 2018 (ICIS)
  • 52nd Hawaii International Conference on System Sciences 2019 (HICSS)


Conference and Workshop Organization

Head of the Organization Committee
Member of the Organization Committee
10th MiFID Congress – Regulatory Symposium, 2017
Head of Organization
1st ForDigital Blockchain Workshop, 2017
Member of the Organization Committee
11th MiFID Congress – Regulatory Symposium, 2018
Head of Organization
2nd ForDigital Blockchain Workshop, 2018
Head of the Organization Committee

Supervised Theses

  • Streamlining Logistics Processes with Blockchain Technology [Master's Thesis]
  • Blockchain: A Revolution for Clearing and Settlement? [Master's Thesis]
  • The Introduction of the Electronic Market Platform Xitaro - An Event Study [Master's Thesis]
  • Consistency in Inter-organizational Accounting and Cash Flow Management Following M&A Transactions – A Blockchain Use Case in Accounting [Master's Thesis]
  • Blockchain Engineering - An Organizational Assessment [Master's Thesis]
  • From Hype to Implementation - Organizational and Technological Criteria for Realizing Blockchain Use Cases [Master's Thesis]
  • Feasibility of Blockchain-Powered Stock Exchange [Bachelor's Thesis]
  • The Decentralization of Authority - Blockchain-based Consensus Mechanisms and Economic Implications [Bachelor's Thesis]
  • Decentralizing Trust - A Solution to Credit Rationing? [Bachelor's Thesis]
  • Interbank Market Freezes and Information Networks - A Blockchain Approach [Bachelor's Thesis]
  • Developing a Taxonomy of Distributed Ledger Technology and Blockchain in Post-Trading [Bachelor's Thesis]
  • Adverse Selection in Credit Markets - The Economic Theory of Blockchain-based Credit Screening [Seminar Thesis]
  • Technological Challenges of Blockchain-based Credit Screeing [Seminar Thesis]
  • The Usefulness of Bitcoin as an Alternative in the Face of Macroeconomic Shocks [Seminar Thesis]
  • Central Authorities in Decentralized Markets - A Rule-based Approach [Seminar Thesis]