Abstract
This study aims to investigate the extent to which the contributions of blockchain technology to supply chain parameters influence blockchain adoption among SMEs. Drawing on contingency theory, the study investigates the moderating effect of market turbulence. The data were collected from 204 SMEs in Malaysia’s manufacturing sector and analysed using the partial least squares technique. The results showed that the intention of SMEs’ managers to adopt blockchain is influenced by the contributions of blockchain to supply chain transparency and agility. Supply chain transparency, alignment, adaptability, and agility are interrelated. Market turbulence moderates positively the association between agility and intention to adopt blockchain. This study extends the literature by decomposing the concept of relative advantages and investigating the influences of blockchain benefits on blockchain adoption. The moderating effect of market turbulence indicates that the influence of blockchain on agility is more important for SMEs operating in a turbulent environment than the SMEs in a stable market. The findings help the policymakers and blockchain vendors in developing effective plans and strategies to speed up the adoption of blockchain among SMEs. Furthermore, the results give confidence to the managers and owners of SMEs that blockchain can be a valuable competitive advantage source.
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