Factors Affecting the Adoption of Blockchain Technology in the Complex Industrial Systems: Data Modeling

Yu Chengyue,Mahendar Goli,Anoop Kumar Sahu,M Prabhu,Long Wang

doi:10.1155/2021/8329487

Abstract

Nowadays, Blockchain Technology (BCT) is contributing toward addressing the challenges of complex industrial systems (CISs). The BCT reduces the complexity of cash data storage as well as retrieval system of finance, marketing, supply chain, inventory, and other departments. The objective of the present study is to investigate the factors, which affect the intention of professionals to adapt the BCT in the CISs by using an extension of the technology acceptance model. To fulfill the research objective, a theoretical research model is constituted by multiple hypotheses (H1–H6), i.e., perceived usefulness, perceived ease of use, perceived innovativeness, knowledge, risk, and trust after conducting the relevant literature survey in the context of BCT. Next, each hypothesis is tested by exploring the survey data of a sample of 287 professionals of different BCT user’s companies such as retailing, e-commerce, manufacturing, and construction. Survey data is analyzed by executing the structural equation modeling with AMOS software. The factors and latent constructs loadings, reliability, convergent, discriminant, model fit-measurement, structural model, and the path analysis are conducted. The results reveal that the H1, H2, and H4–H6 dropped the positive impact and effect on professionals’ intention to use the BCT in CISs. But, H3 has no effect for enhancing the intention of professionals to use BCT.

Highlights

Disruptions in technology brought phenomenal changes in the function of complex industrial systems (CISs). e supply chain (SC) plays a critical role in enhancing the effectiveness as well as productivity of CISs
Model fit-measurement and structural model are analyzed, where, in Table 4, the model fit-measurement confirmed the validity of the hypothesis and, in Table 6, confirmed the structure of the theoretical research model
Research Directions e conducted study proposed a theoretical research model constituted by multiple hypotheses (H1–H6), i.e., perceived usefulness, perceived ease of use, perceived innovativeness, knowledge, risk, and trust. e factors and latent constructs loadings, reliability, convergent, discriminant, model fitmeasurement, and structural model are conducted

Summary

Introduction

Disruptions in technology brought phenomenal changes in the function of CISs. e supply chain (SC) plays a critical role in enhancing the effectiveness as well as productivity of CISs. Blockchain technology (BCT) is one such emerging technology, which brings a competitive advantage and enables the CISs to function smoothly. BCT is a “digital, immutable, distributed ledger that chronologically records transactions in near real time” making the processes simpler, efficient, transparent, and secured [2]. BCT differs from the existing technologies in four ways: nonlocalization (decentralization), security, auditability, and smart execution [3], and it has diverse applications in the CISs. Despite many advantages of BCT in different practices of CISs, the adoption of blockchain technology is limited [4]. BCT is still in its infancy, which has to overcome the many barriers—behavioral, organizational, technological, or policy for its adoption in the CISs as per [5, 6]

Objectives

Methods

Results

Conclusion