Seizing technological advancement; determinants of blockchain supply chain finance adoption in Ghanaian SMEs

Boakye, Elijah Asante; Zhao, Hongjiang; Coffie, Cephas Paa Kwasi; Asare-Kyire, Lydia

doi:10.1080/09537325.2022.2163384

Cited by 7 publications

(10 citation statements)

References 49 publications

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“…However, none of these scholars have considered blockchain costs in their studies, and only have taken the approach of introducing rewards and penalties to reflect the benefits of blockchain technology. Some other scholars have studied the factors that affect decision-making when blockchain technology is introduced, such as the maturity and complexity of blockchain technology, and whether these factors affect whether the decision-maker adopts blockchain technology or not [33,34]. Some other scholars have also investigated the integration of blockchain technology and supply chain finance.…”

Section: Supply Chain Finance Based On Blockchain Technologymentioning

confidence: 99%

Research on Decision Analysis with CVaR for Supply Chain Finance Based on Blockchain Technology

Ma,

Cai,

Wang

et al. 2024

Mathematics

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The application of blockchain has become a trend in the development of supply chain finance. Aiming to bridge the gap in the existing literature, this paper investigates a supply chain finance system based on blockchain technology which contains a manufacturer, a retailer and a financial institution and incorporates blockchain costs into the model. Firstly, this paper establishes a supply chain finance model based on blockchain technology and it presents a comparison with the process employed under the traditional model. Secondly, this paper establishes the revenue mathematical model of supply chain finance based on blockchain technology. Thirdly, the optimal decisions of each participant under centralized and decentralized decision-making are proved and obtained, respectively, and the influencing factors of the optimal decisions are analyzed. Finally, the conclusions are verified via simulations. This study finds that, when blockchain is used, the benefits of each participant in the chain are increased. In addition, centralized decision-making, which is more optimal in the traditional model, is also enhanced under blockchain. This paper demonstrates the superiority of blockchain-enabled supply chain finance in terms of model and revenue. This provides some suggestions for companies in the supply chain with regard to solving the problem of financing difficulties.

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Section: Supply Chain Finance Based On Blockchain Technologymentioning

confidence: 99%

Research on Decision Analysis with CVaR for Supply Chain Finance Based on Blockchain Technology

Ma,

Cai,

Wang

et al. 2024

Mathematics

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“…The reviewed articles encompass a diverse range of geographical contexts, shedding light on the global interest in understanding the implications of blockchain technology for SMEs. The investigation spans various regions, including India (Kaur et al ., 2022; Paliwal et al ., 2020; Sahoo and Thakur, 2023), Ghana (Asante Boakye et al ., 2022, 2023), Saudi Arabia (Alshareef and Tunio, 2022), China (Chen et al ., 2021; Sun et al ., 2021a, b), Qatar (Dahdal et al ., 2020) and Russia (Christian et al ., 2020), and examines sectors as varied as housing (Utkarsh et al ., 2022), trade finance (Dahdal et al ., 2020; Truby et al ., 2022), livestock export (Miller et al ., 2023), e-commerce (Jiang and Chen, 2021; Li et al ., 2020) and automotive retail (Chen et al ., 2020). This diverse representation underscores the ubiquity of the exploration into blockchain's potential impact on SMEs across different nations and industries.…”

Section: Thematic Analysismentioning

confidence: 99%

“…Investment in blockchain-based business solutions is growing exponentially, but the adoption of blockchain by businesses has been low, especially SMEs (Ozili, 2022; Asante Boakye et al ., 2023). The reasons are apparent as the novelty of the technology and its complexity, which is not easy to understand given the relatively lower technical capabilities of small firms.…”

Section: Thematic Analysismentioning

confidence: 99%

“…They use different frameworks to study the same and have highlighted the unfolding opportunities and challenges. Asante Boakye et al . (2023) use the technological, organizational and environmental (TOE) framework to investigate the determinants of blockchain SCF adoption among Ghanaian SMEs.…”

Section: Thematic Analysismentioning

confidence: 99%

“…Blockchain, a decentralized peer-to-peer network, holds immense potential to revolutionize the SME finance ecosystem with decentralized ledgers, tokens and smart contracts (Asante Boakye et al ., 2023). It challenges the traditional client–server architecture, eliminates the need for intermediaries and is likely to disrupt the existing economic monopolies (Yang et al ., 2021).…”

Section: Introductionmentioning

confidence: 99%

See 2 more Smart Citations

Filling the SME credit gap: a systematic review of blockchain-based SME finance literature

Kumar,

Phani,

Chilamkurti

et al. 2023

JTS

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PurposeThe review examines the existing literature on blockchain-based small and medium enterprise (SME) finance and highlights its trend, themes, opportunities and challenges. Based on these factors, the authors create a framework for the existing literature on blockchain-based SME financing and lay down future research paths.Design/methodology/approachThe review follows a systematic approach. It includes 53 articles encompassing multiple dimensions of blockchain-based SME finance, including peer-to-peer lending platforms, supply chain finance (SCF), decentralized lending protocols and tokenization of assets. The review critically evaluates these approaches' theoretical underpinnings, empirical evidence and practical implementations.FindingsThe review demonstrates that blockchain-based SME finance holds significant promise in addressing the credit gap by leveraging blockchain technology's decentralized and transparent nature. Benefits identified include reduced information asymmetry, improved access to financing, enhanced credit assessment processes and increased financial inclusion. However, the literature acknowledges several challenges and limitations, such as regulatory uncertainties, scalability issues, operational complexities and potential security risks.Originality/valueThe article contributes to the growing knowledge of blockchain-based SME finance by synthesizing and evaluating the existing literature. It also provides a framework for the existing literature in the area and future research paths. The study offers insights for researchers, policymakers and practitioners seeking to understand the potential of blockchain technology in filling the SME credit gap and fostering economic development through improved access to finance for SMEs.

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Factors influencing blockchain adoption in the tourism industry: an empirical study

González-Mendes,

González-Sánchez,

Costa

et al. 2024

Technology Analysis & Strategic Management

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Seizing technological advancement; determinants of blockchain supply chain finance adoption in Ghanaian SMEs

Cited by 7 publications

References 49 publications

Research on Decision Analysis with CVaR for Supply Chain Finance Based on Blockchain Technology

Research on Decision Analysis with CVaR for Supply Chain Finance Based on Blockchain Technology

Filling the SME credit gap: a systematic review of blockchain-based SME finance literature

Factors influencing blockchain adoption in the tourism industry: an empirical study

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