Blockchain Technology Adoption Status and Strategies

Woodside, Joseph M.; Augustine, Fred K.; Giberson, Will

doi:10.58729/1941-6679.1300

Cited by 82 publications

(20 citation statements)

References 2 publications

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“…Opinions vary on if this trustless technology eliminates our needs for trust. The truth lies somewhere in the middle as corresponding challenges accompany with its wide applications [27] .…”

Section: Trust In Blockchainmentioning

confidence: 99%

Study on the Discursive Strategies of Wired to Repair Trust in Blockchain

2023

ssr

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Digital trust involves not only human trust mediated by certain technology but trust in that technology. However, emerging technologies confront ever-growing skepticism. The blockchain debate is a typical example which may be led by its hypes from the mass media. If the place where blockchain is hyped is the place where the damaged trust in blockchain is repaired, Wired magazine, the voice of the industry, is an appropriate third-party repairer. Though previous studies have deeply investigated trust repair in interpersonal relationships, much remains unknown about how to measure trust in a specific technology and how to repair it if it is violated. This study aims to examine how Wired discursively repair trust in blockchain. To address the issue, 60 Wired stories on blockchain are collected as the corpus data. The corpus is annotated with the help of UAM CorpusTool. A discourse analysis is performed based on the annotation. Unlike the studies on interpersonal trust repair, the results show that the magazine puts more efforts on repairing the functionality and the helpfulness of blockchain partly due to the contextual variables. The discourse of the magazine, sitting on the rational side of trust, features open, objective, and straightforward. Together with the research standpoint of a third-party repairer, the repairing effect of trust-in-tech seems to be more predictable. The reparative strategies of EP & NN could be interpreted as a kind of justification to explain the violations of trust in blockchain, which the magazine mainly attributes to those externally unstable and uncontrollable factors. Above all, blockchain is a technological innovation with the aim to build a trustless world, but meanwhile, its development requires the escort from cyber-resilience which is built on the netizens’ digital trust.

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Section: Trust In Blockchainmentioning

confidence: 99%

Study on the Discursive Strategies of Wired to Repair Trust in Blockchain

2023

ssr

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“…Different research on blockchain adoption has been conducted previously in the form of case studies and mostly conceptual (Weking et al, 2020). There are published studies on the adoption of blockchain but most of these studies are qualitative and only lays down the theoretical and conceptual framework to better understand the adoption process (Lian et al, 2020;Woodside et al, 2017). Little focus has been put on quantitative studies to find out the impact of different factors on the uptake of the technology and innovative processes by firms (Reyna et al, 2018).…”

Section: Introductionmentioning

confidence: 99%

“…There are published studies on the adoption of blockchain but most of these studies are qualitative and only lays down the theoretical and conceptual framework to better understand the adoption process (Lian et al. , 2020; Woodside et al. , 2017).…”

Section: Introductionmentioning

confidence: 99%

Determinants of blockchain adoption as decentralized business model by Spanish firms – an innovation theory perspective

Hashimy

Jain

Grifell‐Tatjé

2022

IMDS

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PurposeLarge attention surrounds identifying the meaningful blockchain business model on financial services, while a little focus about non-financial organizations and solutions in terms of how the blockchain business model can affect the organization and bring more value. To address the complex structure of businesses that have public goods, it is important to develop sustainable blockchain-based business models.Design/methodology/approachThis study offers the first qualitative research that uses an integrated technological, environmental and organizational (TOE) framework with technology acceptance theory (TAM) to study the adoption of blockchain technology by Spanish firms.FindingsThe results of the paper discuss how that competitive pressure, competence, top management support and relative advantage have a positive impact on intention to adopt blockchain technology while complexity affects the intention to adopt the technology negatively. Contrary to many adoption studies, the findings show that intention to adopt negatively impacts adoption and outline the effect of blockchain on business model elements on the macroeconomic level.Originality/valueThe key contribution of this study lies in providing a comprehensive understanding of the environmental, technological and organizational factors that impact the intention to adopt blockchain that eventually affects adoption.

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“…BCT can further help them to track the digital and physical assets of the workers and citizens across the country. It might also help the government authorities for the smooth handling of budgets and financial management as the government will be able to track the transactions immediately without facing any errors (Woodside et al, 2017). All these examples show the promise of BCT, but despite its potential, the actual implementation and use of BCT across the government organization is limited (Feng et al, 2020).…”

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Categorizing and relating implementation challenges for realizing blockchain applications in government

Luthra¹,

Janssen

Rana

et al. 2022

ITP

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PurposeBlockchain technology (BCT) can be used for a wide variety of applications across domains and can bring many benefits. BCT-based applications can be beneficial for the government as well as businesses. Despite the many promises, BCT implementation lags behind. The purpose of this research is to identify a roadmap of critical implementation challenges that influence BCT implementation by governments.Design/methodology/approachThe study develops an ISM-based model spread across seven levels to analyze the inter-relationship among the selected BCT challenges. The MICMAC analysis further helps in evaluating the variables based on their driving power and dependencies.FindingsThe findings show that all challenges have a strong impact on implementing BCT. The foundation for implementation BCT is to define standards and develop appropriate regulations. Next, the findings show the need for a shared infrastructure meeting the basic technical and societal requirements and developing viable business models to advance BCT implementation. Many challenges hinder the development of blockchain applications meeting the technical and ethical requirements.Originality/valueExisting research has analyzed the relationship among challenges. To the best of the authors' knowledge this is the first paper to collate these implementation challenges and incorporate them to develop a hierarchical model using interpretive structural modeling technique. The results can be used to prioritize the tackling of the challenges.

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Blockchain Technology Adoption Status and Strategies

Cited by 82 publications

References 2 publications

Study on the Discursive Strategies of Wired to Repair Trust in Blockchain

Study on the Discursive Strategies of Wired to Repair Trust in Blockchain

Determinants of blockchain adoption as decentralized business model by Spanish firms – an innovation theory perspective

Categorizing and relating implementation challenges for realizing blockchain applications in government

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