Barriers to blockchain adoption: Empirical observations from securities services value network

Ruey Komulainen and Satu Nätti

Journal of Business Research, 2023, vol. 159, issue C

Abstract: Blockchain can support the transition to a sustainable business by facilitating the traceability of activities that drives responsible behavior in a value delivery network. Despite its potential utility, the adoption rate is still relatively slow, and there are barriers to adopting this radical new technology. This research explores these barriers both from the organizational and business network perspectives. A qualitative study with interview data from financial service sector experts was conducted. In particular, informants represented securities services value network (SSVN). Using abductive reasoning, we found barriers that are further categorized into four dimensions: psychological-internal, functional-internal, psychological-external, and functional-external. For managers, this study offers new in-depth insights for facilitating new technology adoption, taking into account both company's internal and external viewpoints.

Keywords: Blockchain technology; Financial services; Adoption barriers; Organizational resistance; Sustainable business; Circular economy (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (7)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jbrese:v:159:y:2023:i:c:s0148296323000723

DOI: 10.1016/j.jbusres.2023.113714

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