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

Hamed Taherdoost

doi:10.3390/computers11020024

Abstract

Blockchain is a promising breakthrough technology that is highly applicable in manifold sectors. The adoption of blockchain technology is accompanied by a range of issues and challenges that make its implementation complicated. To facilitate the successful implementation of blockchain technology, several blockchain adoption frameworks have been developed. However, selecting the appropriate framework based on the conformity of its features with the business sector may be challenging for decision-makers. This study aims to provide a systematic literature review to introduce the adoption frameworks that are most used to assess blockchain adoption and realize business sectors that these models have been applied. Thus, the blockchain adoption models in 56 articles are reviewed and the results of the studies are summarized by categorizing the articles into five main sections including supply chain, industries, financial sector, cryptocurrencies, and other articles (excluded from the former fields). The findings of the study show that the models based on the technology acceptance model (TAM), technology–organization–environment (TOE), and new conceptual frameworks were the focus of the majority of selected articles. Most of the articles have focused on blockchain adoption in different industry fields and supply chain areas.

Highlights

Blockchain (BC) was initially introduced in 2008 by Nakamoto, and it is currently the focus area of many businesses because of its role in the transformation of operational processes
The articles were categorized into five different groups based on the field of the study and the area that blockchain adoption was used to analyze, including search and back-and-forth citation tracking were conducted on the Google Scholar database and the eligible articles were added to previous ones
Ac- This sults were the results summarized in Acmodel was applied as a single method or integrated with cording to to the the results results of of this this study, study, most most of of the the reviewed reviewed articles articles focused focused on on the the applicaapplicacording other frameworks such as TOE, Theory of Planned Behavior (TPB), and TRI models (Figure 8)

Summary

Introduction

Blockchain (BC) was initially introduced in 2008 by Nakamoto, and it is currently the focus area of many businesses because of its role in the transformation of operational processes. All the transactions that have occurred in the network are recorded by the blockchain through applying a distributed database and the collaborated nodes among them. The problems happening due to the trust of a centralized party can be addressed successfully using this system, and this technology can bring security to the transactions as it employs a distributed way that is not related to any trusted party. These features bring other qualities such as decentralization, trust, and immutability to blockchain technology [2]

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Discussion

Conclusion