Factors Affecting the Organizational Adoption of Blockchain Technology: Extending the Technology–Organization–Environment (TOE) Framework in the Australian Context

Saleem Malik, Mehmood Chadhar, Savanid Vatanasakdakul and Madhu Chetty
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Saleem Malik: School of Engineering, IT and Physical Sciences, Federation University Australia, Mount Helen, VIC 3350, Australia
Mehmood Chadhar: School of Engineering, IT and Physical Sciences, Federation University Australia, Mount Helen, VIC 3350, Australia
Savanid Vatanasakdakul: Department of Information Systems, Carnegie Mellon University, Doha P.O. Box 24866, Qatar
Madhu Chetty: School of Engineering, IT and Physical Sciences, Federation University Australia, Mount Helen, VIC 3350, Australia

Sustainability, 2021, vol. 13, issue 16, 1-33

Abstract: Blockchain technology (BCT) has been gaining popularity due to its benefits for almost every industry. However, despite its benefits, the organizational adoption of BCT is rather limited. This lack of uptake motivated us to identify the factors that influence the adoption of BCT from an organizational perspective. In doing this, we reviewed the BCT literature, interviewed BCT experts, and proposed a research model based on the TOE framework. Specifically, we theorized the role of technological (perceived benefits, compatibility, information transparency, and disintermediation), organizational (organization innovativeness, organizational learning capability, and top management support), and environmental (competition intensity, government support, trading partners readiness, and standards uncertainty) factors in the organizational adoption of BCT in Australia. We confirmed the model with a sample of adopters and potential adopter organizations in Australia. The results show a significant role of the proposed factors in the organizational adoption of BCT in Australia. Additionally, we found that the relationship between the influential factors and BCT adoption is moderated by “perceived risks”. The study extends the TOE framework by adding factors that were ignored in previous studies on BCT adoption, such as perceived information transparency, perceived disintermediation, organizational innovativeness, organizational learning capability, and standards uncertainty.

Keywords: blockchain; adoption; factors; Australia; TOE; organization (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

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