Abstract
From a supply chain perspective, new technologies such as blockchain can improve the efficiency and competitiveness of logistics and increase customer satisfaction. Although blockchain technology has been lauded as a way for firms to build sustainable supply chain networks, the rate of acceptance of this technology remains low. Therefore, this study seeks to identify the factors that discourage firms from merging blockchain with the supply chain. Instead of providing further reasons for adopting blockchain technology, we try to understand what deters firms from adding blockchain to their operations. Following the deductive approach, a confirmatory factor analysis is conducted on pre-test questionnaires to test, improve, and verify the constructs (questions) to measure the hypothesized factors. A theoretical model is proposed based on the hypotheses, and structural equation modeling is applied. The results are estimated using the partial least squares approach and a sample of 83 respondents. Our findings based on our empirical data support most of our hypotheses. We find that various factors impede the adoption of blockchain technologies, including technological barriers, constraints rooted in organizations and the environment, and system-related governmental barriers. In addition, various factors are critical determinants of resistance to blockchain in the technological, organizational, and environmental dimensions.
Highlights
Technological advancements provide us with value in various ways, with researchers in many fields seeking to invent tools that are more efficient, effective and provide greater security
Structural equation modeling (SEM) is a statistical method that allows separate relationships to be defined for each dependent variable set, and provides an efficient estimation procedure for separate multiple regression equations that are assessed concurrently
The results sheet was downloaded from Google Sheets and run using SmartPLS after cleaning errors and labeling items
Summary
Technological advancements provide us with value in various ways, with researchers in many fields seeking to invent tools that are more efficient, effective and provide greater security. A good example is the developments in network technology that culminated in the Internet. The purpose of network technology is to assist people in communicating and sharing information across time and space. Relatively new within the field of network technologies, blockchain technology holds diverse and promising benefits. Blockchain technology has been used in the financial sector to improve users’ capabilities related to financial management and trade [1]. Blockchain was first publicized as a way to trade value (Bitcoin), one of its well-known functions [2]
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