The Affecting Factors of Blockchain Technology Adoption of Payments Systems in Indonesia Banking Industry

Taufiq, Rohmat; Meyliana, Meyliana; Hidayanto, Achmad Nizar; Prabowo, Harianto

doi:10.1109/icimtech.2018.8528104

Cited by 18 publications

(7 citation statements)

References 15 publications

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“…However, the research is narrative rather than providing empirical evidence for the adoption of BCT at the organizational level 2 Koens and Poll [59] The study explains and evaluates the appropriateness of BCT in three different scenarios, namely, cryptocurrency-Bitcoin, identity management solution-uPort, and supply chain solution-IBM Hyperledger Fabric, by using an existing decision model. The study analyses the suitability of BCT in the context of different parameters 3 Taufiq et al [60] The study provides a literature review on the factors affecting the adoption of BCT in the Indonesian banking payment system. The study is conceptual and does not provide any clarity on whether the reported factors are effective at the individual or organizational level 4 Supranee and Rotchanakitumnuai [61] The study describes the impact of different factors on the acceptance of different applications of BCT in the supply chain process of the Thai automotive industry.…”

Section: Methodsmentioning

confidence: 99%

Adoption of Blockchain Technology: Exploring the Factors Affecting Organizational Decision

Malik

Chadhar

Chetty

et al. 2022

Human Behavior and Emerging Technologies

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Blockchain (BCT) is an emerging technology that promises many benefits for organizations, for instance, disintermediation, data security, data transparency, a single version of the truth, and trust among trading partners. Despite its multiple benefits, the adoption rate of BCT among organizations has not reached a significantly high level worldwide, thus requiring further research in this space. The present study addresses this issue in the Australian context. There is a knowledge gap in what specific factors, among the plethora of factors reported in the extant literature, affect the organizational adoption of BCT in Australia. To fill this gap, the study uses the qualitative interpretative research approach along with the technology-organization-environment (TOE) framework as a theoretical lens. The data was mainly drawn from the literature review and semi-structured interviews of the decision-makers and senior IT people from the BCT adopter and potential adopter organizations in Australia. According to the findings, perceived information transparency, perceived risks, organization innovativeness, organization learning capability, standards uncertainty, and competition intensity influence organizational adoption of BCT in Australia. These factors are exclusively identified in this study. The study also validates the influence of perceived benefits and perceived compatibility on BCT adoption that are reported in the past studies. Practically, these findings are helpful for the Australian government and public and private organizations to develop better policies and make informed decisions for the organizational adoption of BCT. The findings would guide decision-makers to think about the adoption of BCT strategically. The study also has theoretical implications explained in the discussion section.

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Section: Methodsmentioning

confidence: 99%

Adoption of Blockchain Technology: Exploring the Factors Affecting Organizational Decision

Malik

Chadhar

Chetty

et al. 2022

Human Behavior and Emerging Technologies

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“…In comparison with other sectors, the results of the study indicate a limited use of blockchain in the banking and finance industry. In 2018, Taufiq et al (2018) led researchers to examine the influence factors of blockchain technology adoption in the Indonesian banking sector. In the study, the researchers identified nine factors that are expected to be taken into account if the Indonesia banking industry wants to implement blockchain technology for their payment system.…”

Section: Literature Reviewmentioning

confidence: 99%

The linear and non-linear interactions between blockchain technology index and the stock market indices: a case study of the UAE banking sector

Othman

Alshami

Abdullah

2022

JFEP

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Purpose This paper aims to investigate the linear and nonlinear interactions between the blockchain technology index and the UAE stock market index within the context of the Abu Dhabi and Dubai banking sector. Design/methodology/approach In this study, linear analysis was performed using the generalized autoregressive conditional heteroscedasticity model (GARCH) (1,1) model, whereas nonlinear analysis was performed using the wavelet coherence model. Findings Based on the results of the GARCH (1) model, the authors find that the blockchain technology index has a positive significant impact on stock market returns in the Abu Dhabi and Dubai banking sector. In addition, the findings indicate that increasing blockchain integration in the banking industry decreases banks’ stock market volatility and facilitates price stabilization. Additionally, the coherence wavelet analysis reveals that there is a phase relationship between the blockchain technology index and banks’ stock market indices in the banking sector of the UAE. The association was stronger during the global pandemic crisis because they were moving together across different timescales. Practical implications With the help of the linear analysis, this study offers a focal point and valuable insights to policymakers, central banks and commercial banks management on how implementing blockchain technology in the banking industry help boost stock market returns, reduce volatility and facilitate price stability. As a result of the nonlinear analysis of the significant long-term degree of co-movement between blockchain technology and banks’ stock markets in UAE, policymakers or the management of banks in UAE should take the growth of the blockchain technology industry into consideration to ensure the continued development of the banking sector. For investors, the findings provide implications for portfolio managers operating in the UAE who are encouraged to take short-term co-movement into account (1–16-week horizons) through both frequency and time when designing their portfolio while keeping long-horizon periods in mind is not recommended. Originality/value It is a pioneering study that empirically examines the linear and nonlinear nexus between the blockchain technology index and banks’ stock market returns and price stability.

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“…However, cryptocurrencies are only one function of a blockchain and studies in this manner do not provide a comprehensive view of blockchain technology's adoption. Moreover, the literature contains several studies, which perform literature reviews to identify the adoption factors, often phrased as challenges or opportunities (Taufiq, Meyliana, Hidayanto, & Prabowo, 2018). As blockchain technology matures, the adoption landscape changes, requiring additional studies to clarify the adoption factors.…”

Section:  Blockchain and Acceptancementioning

confidence: 99%

High Interest, Low Adoption. A Mixed-Method Investigation Into the Factors Influencing Organizational Adoption of Blockchain Technology

Kennedy¹

2022

Preprint

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Statistics show high levels of interest in blockchain technology, however, considerable adoption has not occurred. This research examines why interest is high, yet levels of adoption are low, by identifying the factors influencing blockchain’s adoption and systematizing them into a theoretical framework. A mixed methodology is used to address the adoption factors. First, a qualitative approach is used to discover the factors from primary data collected from 25 interviews with 23 different organizations. Second, a survey is employed to empirically test the factors with 146 employees from 71 organizations. A total of 18 factors are discovered and seven are tested. The findings support and validate several factors influencing blockchain adoption and contribute a novel factor; perceived technological volatility. A new empirically validated scale is developed to measure organizational perceptions of a technology’s volatility. Furthermore, this research is one of the first to employ a mixed methodology to address blockchain technology adoption.

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The Affecting Factors of Blockchain Technology Adoption of Payments Systems in Indonesia Banking Industry

Cited by 18 publications

References 15 publications

Adoption of Blockchain Technology: Exploring the Factors Affecting Organizational Decision

Adoption of Blockchain Technology: Exploring the Factors Affecting Organizational Decision

The linear and non-linear interactions between blockchain technology index and the stock market indices: a case study of the UAE banking sector

High Interest, Low Adoption. A Mixed-Method Investigation Into the Factors Influencing Organizational Adoption of Blockchain Technology

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