Abstract
Owing to the lack of research in emerging Asian nations, this research aimed to unearth the determinants of blockchain acceptance for supply chain financing by a Bangladeshi financing company called IPDC. Centred on a technology acceptance framework called UTAUT (unified theory of acceptance and use of technology) and open innovation research, an expanded model with a mediating variable is developed for this study. This research work employs the deductive inference method in conjunction with the positivism paradigm. A structural questionnaire was used to gather data, which were then processed through Smart-PLS (partial least square) for SEM (structural equation modeling). The survey includes all the people who are directly or indirectly involved in the supply chain financing platform of IPDC. The study consists of seven direct hypotheses and one mediating hypothesis. The results show that all the direct hypotheses except the impact of social influence on the behavioural intention to use (BINTU) blockchain are significant. The mediating hypothesis indicating the role of BINTU in the relationship between facilitating conditions (FCON) and the actual use of blockchain is also supported. FCON and BINTU together explain 88.7% variation in blockchain use behaviour for supply chain financing. The research advances past findings by employing an expanded UTAUT framework and validating observations with the other relevant studies throughout the world.
Highlights
The money market of Bangladeshi is presently confronting numerous issues, scams and transparency problems [1]
The age range of 30 to 35 years had the largest number of respondents, accounting for 51% of all respondents; 25% belonged to the age group of 35 to 40 years, and the remaining 24% consisted of other age groups
We are in the era of empowered consumers who are calling for more transparency about the transactions they are conducting, the accountability of supply chain financing
Summary
The money market of Bangladeshi is presently confronting numerous issues, scams and transparency problems [1]. In the last few years, the rapid development of data and corresponding advancements of information and communication technology (ICT) has caused disturbances in all business models [3]. The rapid growth in technology-based business and digital supply chain management is leveraging new relationship models through the entire supply chain network to redesign its service platform [4]. Financial institutions must focus on emerging techniques to drive service innovations, allowing them to respond to changing consumer demands and market pressures [2]. The emergence of a new encrypted and secured technology called blockchain has given a ray of light for ensuring transparency in business transactions, creating a demand for smooth, collateral-free and distance free financial services [5]
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