Abstract
The adoption of blockchain technology (BT) is becoming increasingly important to the logistics industry. It is expected to make the entire supply chain process more efficient and competitive by providing visibility, reliability, and economic viability. This study aims to explore factors influencing the adoption of blockchain in the logistics industry and examine the effects of the reciprocal causal relationship between the identified factors. Empirical research aimed at understanding the functional characteristics of BT and bolstering its application is considerably lacking. This study, therefore, aims to examine the concepts and the types of BT based on a literature review related to blockchain. Factors affecting blockchain adoption are identified using a model, which was developed using the unified theory of acceptance and use of technology (UTAUT) and the technology-organization-environment (TOE) frameworks as well as a literature review. The results provide fundamental insights into the adoption of BT in the logistics industry by increasing the understanding of associated factors and underscoring the functional characteristics of this emerging technology.
Highlights
Blockchain technology (BT) is regarded as one of the key underlying technologies that will drive the fourth industrial revolution
Many experts in related fields predict that when blockchain initiatives are commercialized, their features will serve as a platform that is applicable across industries, including finance [1]
We address the UTAUT and the TOE frameworks in order to utilize them for the research model, with the aim of identifying factors affecting the adoption of BT
Summary
Blockchain technology (BT) is regarded as one of the key underlying technologies that will drive the fourth industrial revolution. BT made its debut in 2008 with the introduction of Bitcoin, which was invented by a person using the name Satoshi Nakamoto
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