Blockchain Technology as a Game Changer for Green Innovation: Green Entrepreneurship as a Roadmap to Green Economic Sustainability in Peru

Abstract

Blockchain technology has been heralded as a game changer for addressing severe environmental and economic sustainability challenges. In response to rising environmental concerns, blockchain technology (BCT) is transforming green innovation, culminating in green economic practices and well-established business models. Recognizing this, we investigated the role of blockchain technology in green innovation practices and its impact on green economic sustainability, which has an impact on green environmental sustainability. Moreover, 184 small- and medium-sized enterprises (SMEs) were surveyed in Lima, Peru. Data for this cross-sectional study were gathered using stratified random sampling. The positivist approach was implemented using a statistical induction method. Prior studies’ research constructs were measured using validated measurement scales. For quantitative data analysis, using the partial least squares structural equation modeling (PLS-SEM) framework, this study provided two key findings. First, sustainability orientation and sustainability attitude have a positive and significant effect on the adoption of green innovation that employs green energy (solar) technology towards a sustainable green economy. Second, the intention to use blockchain technology mediates the relationship between sustainability orientation and social perception with the adoption of green innovation that employs green energy (solar) technology towards a sustainable green economy. We recommend that small- and medium-sized enterprises embrace green innovation and blockchain technology to protect the environment and boost community cohesiveness.

Assessing and prioritizing drivers and strategies for transition to a green energy for sustainable development in China

“…The emphasis on technology, particularly solar and wind energy, in our study aligns with literature asserting the increasing cost-competitiveness of renewable energy sources with fossil fuels [ 11 , 12 ]. This underlines the continuous need for technological advancement and widespread deployment to meet energy demands sustainably.…”

“…This section will analyze technology, politics, financing, and public awareness as key elements of a successful GE economic transition. Technology drives the GE [ 11 ]. Solar and wind energy are becoming cost-competitive with fossil fuels.…”

Corporate Digital Transformation and Green Innovation: A Quasi-Natural Experiment from Integration of Informatization and Industrialization in China

“…Fourth, regarding blockchain technology, Chin et al [ 56 ] found that blockchain technology positively affects green innovation performance, while value appropriation capability also mediates the blockchain technology–green innovation relationship in ecosystem-based business models. Polas et al [ 57 ] investigated the role of blockchain technology in green innovation practices and found that blockchain technology mediates the relationship between sustainability orientation and social perception with the adoption of green innovation that employs green energy technology towards a sustainable green economy.…”

Enhancing Rural Revitalization in China through Digital Economic Transformation and Green Entrepreneurship

“…By leveraging digital technologies and green development principles, rural entrepreneurs can not only enhance the economic viability of their ventures, but also contribute to the preservation of natural resources and the well-being of local communities [33,34]. Thus, green entrepreneurship has emerged as a vital driver of rural revitalization efforts, aligning with broader goals of promoting inclusive and environmentally sustainable development [35][36][37].…”