Block Chain Technology Adoption for Banking Services- Model based on Technology-Organization-Environment theory.

Abstract

In the millennium era of developing Economy like Indian there is an increasing momentum of Block Chain Technology (BCT) . Researchers examines the drivers and the hurdles with block chain adoption in Banking services in the Technology-Organization-Environment (TOE) framework( (Tornatzky, Fleischer, & Chakrabarti, 1990).Authors highlighted that blockchain technologies can create innovative business solutions as it allows assets traceability, store data in append only database, consensus based on distributed ledger system, cross boarder payments and remittances and digital identity.For blockchain technologies to serve as pragmatic solution for banking and financial services, an understanding of BCT adoption in Indian banks is essential. Based on T-O-E framework, researcher explored the antecedents of BCT adoption, and its outcomes. This study investigated Information Technology officers, bank managers and bank employees in India about their views on BCT adoption through a structured questionnaire. Data collected was analyzed using the PLS-SEM. Findings in this research is framework mapping to the theory .It is concluded that perceived compatibility, perceived cost, relative advantage, perceived security, firm scope, learning culture, top management, competitive pressure, government policies and consumer readiness are the significant factors that affect the adoption of BCT in banking services. This study provides important learning to bank employees and technology vendors. This study will also give insight to the Government in content to the Digital India Program.