The Literature Review of Blockchain Adoption

Abstract

Blockchain is an emerging technology that depends on distribution, decentralization, and encryption. Recently, it has gained wide interest in various fields of studies. Several considerable research on blockchain adoption has appeared in international journals across different disciplines, however, a review of literature on the adoption of blockchain remains rare. This study aimed to provide a comprehensive literature review of the current blockchain adoption studies that use individual adoption models or theories. This paper included the papers that are published in the 7 Scopus database from 2017-2021. Studies were analyzed to determine the adoption models or theories that are used, industry, country, methodology, and identify the most important influencing factors that drive the user to accept the adoption of blockchain technology. The results showed that there are still limitations in adoption studies in various fields such as health and education however, the field of supply chain management is one of the areas that received the most attention in the studies. Common studies relied on the Technology Acceptance Model (TAM) model as well as the Unified Theory of Acceptance and Use of Technology (UTAUT). Moreover, perceived ease of use (PEOU), perceived usefulness (PU) are considered the most important factors affecting the intention of users in adopting blockchain technology in different fields. The research findings have implications on blockchain adoption research. In terms of theory, the findings provide a guideline for the other researchers to put their own research in a better context and thus contribute to understanding the relevant blockchain adoption issues that require further investigation.

A Critical Review of Blockchain Acceptance Models—Blockchain Technology Adoption Frameworks and Applications

“…Attitudes which include favorableness or favorableness of the feelings of individuals for an attitude; Social norms which are about people's social influence [11,13]; Intentions including whether individuals decide to perform a behavior or this factor is influenced by the former ones [14,15].…”

“…In this model, perceived behavioral control (PBC) is added to the traditional TRA factors. The perceived significance of the skills, opportunities, and resources as well as the availability of them are used to determine the PBC and gain the outcomes [14].…”

“…These factors are added to enhance the specificity as well as explanatory power of normal TAM. Thus, the predictive power of perceived usefulness and social influence can be improved by adding these factors [14]. There are two main studies on ETAM that are mentioned in the following:…”

“…The diffusion of innovation includes different steps considering five important factors as effective variables in the acceptance of innovation in the characteristics of the innovation step, including compatibility, observability, complexity, trial ability, and relative advantage [14,23]. In the next step, known as the adopter characteristics step, the categories are considered as innovators, early adopters, late majority, early majority, and laggards.…”

“…Four constructs are derived as the result of this process as facilitating conditions, social influences, efforts, and performance expectancies. However, in addition to those constructs, age, gender, voluntariness of use, and experience were utilized as the moderating variables in this model [14].…”