Deciphering organizational decision-making factors in blockchain technology adoption

Abstract

A new technology called blockchain technology (BCT) promises several benefits to businesses, including the removal of middlemen, data security, data transparency, a single version of the truth, and trust from trading partners. The majority of the data came from the literature review and casual discussions with senior IT staff members and decision-makers from BCT adopter and prospective adopter firms in India. The findings indicate that the adoption of BCT in Indian firms is influenced by perceived information openness, standards uncertainty, organizational creativity, organizational learning capability, perceived risk, and competition intensity. These factors are the only ones identified in this study. Furthermore, the data illustrates how perceived benefits and perceived compatibility affect the adoption of BCT, as documented in earlier studies. The results would help decision-makers think strategically about implementing BCT in supply chain management.