Blockchain technology in supply chain management: an empirical study of the factors affecting user adoption/acceptance

Abstract

Blockchain overcomes numerous complicated problems related to confidentiality, integrity, availability of fast and secure distributed systems. Using data from a cross-sectoral survey of 449 industries, we investigate factors that hinder or facilitate blockchain adoption in supply chains. To capture the most vital aspects of blockchain adoption in supply chains, our conceptual model integrates the unified theory of acceptance and use of technology (UTAUT) model with the tasktechnology fit (TTF) and information system success (ISS) models, with trust-based information technology innovation adoption constructs. Using structural equation modelling, we find that the ISS, TTF, and UTAUT models positively influence the key factors affecting supply chain employees' willingness to adopt blockchain. Our results show that the UTAUT's social influence factor has no significant effect on the intention to adopt blockchain, while inter-organisational trust has a significant effect on the relationship between the UTAUT dimension and intention to adopt blockchain.Keywords Blockchain Á Cybersecurity Á Supply chain Á Trust ınformation technology adoption models Á Cross-sectoral sample peer (P2P) network for data verification and sharing. Blockchain technology uses public key encryption to verify transactions on the Internet and defend against cybersecurity threats including ransomware, trojans, worms, rootkits, and botnets [3][4][5]. It reflects a shared transaction system in which all entries are registered in public or private ledgers that are visible to users [6][7][8][9]. Blockchain-based supply chain applications include smart contracts, product traceability, enforcement tracking, stock control, transaction and settlement, and information immutability. These have led to the enhancement of market, economic, and environmental performance in the form of partnership growth. Blockchain also has marginal effects on partnership efficiency [10]. Furthermore, it supports connectivity and reliability in the electronic money market and offers a secure technology solution with a wide range of advantages and applications [11][12][13][14]. In addition, it expands the potential for sustainability by accelerating and automating the exchange of information critical to natural resources and environmental protection [10,15].According to the Market Watch report (2019), the global market size of blockchain-enabled supply chains is predictable to extent $9.8 billion by 2025. The global

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“…To address this, we conducted a systematic literature review of recent literature examining blockchain adoption in supply chains. Various theories have been forwarded in the past to elucidate the factors that drive information technology adoption [6]. We chose to utilise the technology, organisation, and environment (TOE) model first developed in 1990 by [7].…”

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Blockchain for decentralization of internet: prospects, trends, and challenges

“…Blockchain has been primarily associated with finance and cryptocurrency, but it has also been used for various other applications in several domains and industries including healthcare, supply chain management, asset tracking, energy management, smart home/city and Internet of Things (IoT) [1][2][3][4][5][6][7]. For such applications and industries, Blockchain can offer benefits including transparency, accountability, Integrity, scalability, cost-efficiency, security, and privacy.…”