Adoption Of Blockchain Technology Research Articles

A three-phase framework for mapping barriers to blockchain adoption in sustainable supply chain

PurposeBlockchain technology is one of the major contributors to supply chain sustainability because of its inherent features. However, its adoption rate is relatively low due to reasons such as the diverse barriers impeding blockchain adoption. The purpose of this study is to identify blockchain adoption barriers in sustainable supply chain and uncovers their interrelationships.Design/methodology/approachA three-phase framework that combines machine learning (ML) classifiers, BORUTA feature selection algorithm, and Grey-DEMATEL method. From the literature review, 26 potential barriers were identified and evaluated through the performance of ML models with accuracy and f-score.FindingsThe findings reveal that feature selection algorithm detected 15 prominent barriers, and random forest (RF) classifier performed with the highest accuracy and f-score. Moreover, the performance of the RF increased by 2.38% accuracy and 2.19% f-score after removing irrelevant barriers, confirming the validity of feature selection algorithm. An RF classifier ranked the prominent barriers and according to ranking, financial constraints, immaturity, security, knowledge and expertise, and cultural differences resided at the top of the list. Furthermore, a Grey-DEMATEL method is employed to expose interrelationships between prominent barriers and to provide an overview of the cause-and-effect group.Practical implicationsThe outcome of this study can help industry practitioners develop new strategies and plans for blockchain adoption in sustainable supply chains.Originality/valueThe research on the adoption of blockchain technology in sustainable supply chains is still evolving. This study contributes to the ongoing debate by exploring how practitioners and decision-makers adopt blockchain technology, developing strategies and plans in the process.

Perceptions and challenges of blockchain adoption in tourism industry: a study on trust, privacy and security

Purpose This study aims to investigate the perceptions of service providers in the travel and hospitality industry toward the adoption of blockchain technology (BCT), focusing on its impact on consumer experiences and expectations, especially in terms of trustworthiness and the management of privacy and security concerns. Design/methodology/approach The research used a quantitative methodology, collecting data from 135 industry practitioners across five tourism sectors (lodging, connected industries, entertainment, FandB, transportation) in Europe. This approach aimed to understand the diverse perspectives on the benefits and challenges of implementing BCT in their opera Findings The results indicate mixed perceptions regarding blockchain adoption. While there are positive views on BCT’s potential to enhance customer experience and service quality, there are significant concerns about its impact on trust and security. A consensus exists between customer and provider perspectives on BCT’s trustworthiness, but significant differences were observed in views on privacy and security enhancement. Originality/value This research contributes to the existing literature by providing insights into the service providers’ and customers’ perspectives on BCT within the travel and hospitality industry. It underscores the complexities of adopting new technologies and calls for more in-depth studies to address the identified concerns, thereby offering a novel viewpoint on the adoption of distributed ledger technologies in enhancing customer experience and service delivery.

The Impact of Blockchain Technology on the Future of Commercial Banking

This study investigates the ramifications of blockchain technology on the future landscape of commercial banks in the Kurdistan Region of Iraq, drawing insights from expert perspectives. The evolution of blockchain has significantly reshaped all facets of banking services and operations, resulting in a paradigm shift away from the traditional banking modus operandi in terms of systems, external events, and human intervention. Employing the Analytical Hierarchy Process (AHP) methodology and utilizing SPSS software (Version 26), the study analyzed data collected through questionnaires distributed among banks and universities in the Kurdistan Region of Iraq, totaling 90 responses. The findings reveal a notable, statistically significant inverse correlation between blockchain adoption and the future trajectory of commercial banks in the Kurdistan Region. Increased integration of blockchain technology enhances the resilience and viability of commercial banks, thereby reducing the likelihood of adverse impacts. Moreover, blockchain technology demonstrates tangible and positive prospects for the future of commercial banking, facilitating enhanced operational efficiency and cost reduction through streamlined processes and accelerated transactions, one of the key recommendations derived from the research is the necessity for banks to adopt blockchain technology. This technology contributes to reducing the costs of banking services provided in the Kurdistan region and enhances operational efficiency by minimizing intermediaries and expediting transfer and settlement processes.

A global adoption of cryptocurrency and blockchain technology into the healthcare system

Abstract Background/Objectives Blockchain technology is revolutionizing various industries by enhancing security, transparency, and efficiency. In healthcare, its small-scale application demonstrates the potential to transform healthcare. This study explores how cryptocurrency and blockchain technology enhance healthcare financial stability, secure medical information exchange, increase payment recovery and interoperability. Methods Guided by the Diffusion of Innovations (DOI) Theory, this study reviews 34 articles on blockchain and cryptocurrency adoption in healthcare. We performed a thematic analysis focusing on empirical data, theoretical analyses, and existing implementations. Data were categorized by DOI elements: relative advantage, compatibility, complexity, trialability, observability, and social system. The findings were synthesized into a detailed framework for adopting these technologies in healthcare. Results Our analysis shows that cryptocurrency offers a secure, decentralized payment platform, eliminating the need for third-party intermediaries. Blockchain adoption enhances payment and patient record protection. Cryptographic methods ensure data integrity, transparency, and security, preventing modifications once recorded. Altering data requires consensus from the network majority, protecting healthcare providers from ransomware attacks. Conclusions Evidence suggests that cryptocurrency and blockchain will disrupt healthcare payments, data management, and accommodate interoperability within the next decade. These technologies promise improved security, improved public health research, and increased trust in the healthcare system. Key messages • Our research will be assessing the challenges of integrating digital coins and blockchain technology into the healthcare system. • Examine the potential benefits and risks of implementing blockchain technology in healthcare settings.

Information sharing decision of retail platform: platform's risk aversion and competing suppliers

An increasing number of retail platforms are adopting blockchain technology to mitigate information asymmetries and share data with upstream suppliers, thereby reducing demand uncertainty. However, these platforms often engage with multiple upstream suppliers of varying product quality. This study constructs a game-theoretic model within a supply chain framework, featuring a risk-averse retail platform and two upstream suppliers of different quality levels. As the core leader of the game, the retail platform decides whether to share demand information with the two competing suppliers after implementing the technology. Using mean-variance theory, this study addresses a key question: Which types of suppliers should be included in information sharing on a retail platform? The results show that when the unit cost of information sharing is low, allowing both suppliers to share demand information is most beneficial. Conversely, when the unit cost is high, only high-quality suppliers should be included. Notably, as the unit cost of information sharing and the intensity of competition between high-quality and low-quality products increase, low-quality suppliers are excluded from information sharing. Additionally, the model indicates that the greatest social welfare can be achieved whether both high-quality and low-quality suppliers are authorized to join the information sharing network, or only high-quality suppliers are included.

Dynamics analysis of green supply chain under the conditions of demand uncertainty and blockchain technology

This research investigates the implications of incorporating blockchain technology into the process of making decisions for green supply chains, particularly under conditions of demand uncertainty. A model was formulated to encompass both environmentally friendly products enabled by blockchain technology and those without such enabling technology. The study further explores the optimal method of introducing green input in a duopoly market using game theory. It also examines how consumer uncertainty about green products and acceptance of the technical parameters of blockchain influence this strategy. The findings suggest that increased consumer uncertainty can, in some instances, motivate manufacturers to enhance the eco-friendliness of their products and improve supply chain performance. However, the universal adoption of blockchain does not necessarily ensure better results; on the contrary, it may compromise product sustainability while enhancing supply chain profitability. Moreover, research has indicated that products enabled by blockchain typically have lower prices, thereby offering potential benefits to consumers when acceptance of sustainable energy solutions is high or uncertain. Additionally, this paper analyzes the impact of changes in green supply chain decision-making on system reliability. This involves exploring the relationship between decision parameters and consumer reluctance towards sustainable products and the adoption of blockchain technology. To ensure stable market competition in dynamic complex systems, research shows that feedback control technology can effectively regulate unpredictable behavior.

The artificial intelligence in auditing: Corporate behaviour and technological adoption in an emerging market

The objective of this research is to offer an empirically grounded assessment of the intention of the auditing profession to adopt "disruptive" technologies. This study investigates, using data collected from employees of the Big Four firms in Tunisia, the determinants that drive auditors to adopt blockchain technology (BT). To achieve this objective, in 2022, 53 auditors from the "big four" enterprises in Tunisia, including both certified auditors and auditing students in training, participated in a survey. The study employs statistical methods and ordinary least squares (OLS) regression to identify the associations between the intention to implement BT and the five variables under investigation. The study examines perceived utility, ease of use, trust, support cost (SC), and facilitating condition (FC) while drawing on a number of theories, including the Technology Acceptance Model (TAM). Results show that two factors, particularly perceived utility for auditing (PUA) practice and trust, drive auditing professionals' intention among Big Four companies to use BT. This study results illuminate the factors motivating Big Four companies to embrace BT, enabling the development of strategies to expedite the adoption and utilization of this technology in developing accounting and auditing firms. The study fills a gap in the literature about adopting BT in emerging economies by concentrating on this specific setting. This study contributes to the knowledge of technology adoption and provides valuable recommendations for accelerating the uptake and application of BT in this particular setting.

Value of blockchain for scope 3 carbon disclosure: The moderating role of data processing technologies

Disclosing carbon emissions in Scope 3 is essential for mitigating pollution and the associated environmental damage, and blockchain can enhance the disclosure. However, the effect of blockchain on Scope 3 carbon disclosure remains unclear due to a lack of empirical evidence. This paper investigates the value of blockchain for Scope 3 carbon disclosure and examines whether this value can be strengthened by integrating data processing technologies, including artificial intelligence (AI), cloud computing, and big data analytics (BDA). Drawing upon the coordination theory, we posit that blockchain as a recording and tracing technology can improve the coordination among supply chain members on collecting carbon emissions data, thereby facilitating firms' Scope 3 carbon disclosure. Furthermore, data processing technologies enable efficient utilization and management of the collected data, potentially coordinating with blockchain to enhance Scope 3 carbon disclosure. We test these relationships using regression analysis based on a sample of 422 observations for Chinese listed firms during 2021 and 2022. The results show that blockchain adoption is positively associated with a firm's Scope 3 carbon disclosure. In addition, adopting each of the three data processing technologies—AI, cloud computing, and BDA—further strengthens the positive relationship. This study contributes to academic knowledge and evidence on blockchain and sustainable supply chain management with practical suggestions for managing carbon emissions at the supply chain level through the combined adoption of blockchain and data processing technologies.

Blockchain Technology and Corporate Performance: Empirical Evidence from Listed Companies in China

Blockchain technology is widely recognized and adopted by many organizations, as it serves as a fundamental technological infrastructure for the digital economy. This has led to a rapid acceleration of industrial transformation and digital innovation. This study employs empirical data from a substantial sample to investigate the potential applications, strategies, and advantages of blockchain technology. This paper examines A-share listed companies in China from 2015 to 2021, offering valuable empirical insights that demonstrate how the implementation of blockchain technology can markedly improve corporate performance in a major global economy. The research in this paper examines the differential effects of blockchain technology by innovatively integrating financial and environmental performance metrics into an empirical model, revealing that implementing blockchain technology significantly enhances environmental performance. Furthermore, it has been observed that blockchain technology adoption can contribute to corporate performance by improving information transparency. It is worth noting that blockchain technology’s influence on enterprises’ performance exhibits discernible variations based on the ownership structure, environmental sensitivity, and technical features of said enterprises. This paper can be used as a guide for enterprises looking to implement blockchain technology and for governments seeking to develop digitalization legislation.

Skill Verification Using Blockchain Technology : Ensuring Transparency and Trust

Blockchain technology, with its decentralized, immutable, and transparent nature, offers a promising solution for verifying skills and credentials. This paper explores the potential of blockchain in skill verification, highlighting its advantages, challenges, and potential applications. We delve into the technical aspects of implementing blockchain-based skill verification systems, discussing key considerations such as consensus mechanisms, smart contracts, and data privacy. Additionally, we examine the challenges that may arise in the adoption and implementation of blockchain technology for skill verification, including scalability, interoperability, and regulatory compliance. Finally, we conclude by discussing the future prospects and potential impact of blockchain-based skill verification on various industries

Identification and prioritization of the influential factors of blockchain technology adoption in the United States electricity supply chain

Identification and prioritization of the influential factors of blockchain technology adoption in the United States electricity supply chain

The dual role of blockchain in mediating credence attributes and moderating sensing capabilities in the wine sector

Purpose This study aims to investigate the dynamic capabilities of wineries, focusing on sensing and its role in enabling digital innovation. Furthermore, it explores the role of blockchain technology (BCT) in validating credence attributes of wine, emphasising blockchain as a strategic asset that enhances the ability of wineries to innovate and respond to changing market conditions. Design/methodology/approach The study adopts an exploratory approach based on a longitudinal, single-case study of the Argentinian Costaflores Organic Winery. Findings Findings reveal that integrating digital disruptive innovations such as blockchain can strategically position wineries to better meet emerging consumer preferences and market trends. Blockchain simultaneously acts as both a mediator and a moderator. As a mediator, it facilitates the validation of credence attributes of wine such as authenticity and sustainability, enhancing customer trust and loyalty. As a moderator, it influences the strength and effectiveness of the relationship between sensing and innovation capabilities. This enables wineries to more effectively respond to changing consumer requirements and market trends and improve operational performance. Research limitations/implications The study was limited by its focus on a single case study of the Argentinian Costaflores Organic Winery, which may affect the generalisability of the findings. However, the study provides valuable insights into the strategic adaptation and competitive positioning of wineries in response to the continuing market challenges. It significantly contributes to the understanding of integrating digital disruptive innovations as strategic assets in the agri-food sector, particularly in the wine sector. Originality/value This study addresses a significant research gap by exploring how BCT facilitates the organisation of sensing capabilities. It contributes to the understanding of how the wineries’ sensing capabilities both influence and are influenced by the adoption of BCT, particularly in the context of innovation enabling and improved operational performance.

An ISM-MICMAC approach for analyzing the relationship between blockchain adoption criteria in a pharmaceutical supply chain: Tunisian case

Purpose In the context of digitalizing the supply chain of different sectors, the blockchain technology (BT) is emerged and becomes one of the most interesting and debated research topics. A few years ago, this technology was implemented for the first time in the financial sector, which is currently extended to be used in many other areas, mainly the health-care sector. The success of this technology stems from its ability to enhance the performance, security, consistency of sharing medical data within the whole system and the analysis of medical records. Technically, the BT is defined as a decentralized digital ledger that records transactions between the stakeholders in a supply chain. Thus, they could gain better control and find severe mistakes and the unsafe ones in the medical field. The purpose of this paper is to address a preliminary study of the BT adoption in a real pharmaceutical supply chain (PSC) of the Tunisian case. Design/methodology/approach Indeed, the authors propose an interpretive structural modeling (ISM) combined with the cross-impact matrix multiplication applied to classification (MICMAC) analysis. This methodology is known as an effective one used to identify the criteria that influence the implementation of the BT, analyze the relationships between them and delighting the most impactful ones. Findings The readiness criteria for the adoption of the BT for the considered system are identified which are 10 ones and the structural relationship between them is uncovered through many interviews with experts. Hence, the found results define the most crucial criteria that should be valorized amongst the other criteria. Originality/value The originality of this study stems from its theoretical and practical relevance regarding the potential of the pharmaceutical system and the importance of the integration of new technologies as the BT. The ISM-MICMAC approach seems to be very performant for such preliminary study of the BT adoption in the Tunisian pharmaceutical system.

Unlocking enterprise blockchain adoption: A R3 Corda case study

This study seeks to offer a comprehensive and practical comprehension of the lessons that companies can derive from financial institutions to promote the adoption of blockchain technology for future growth. Utilising R3 Corda, the largest blockchain platform featuring prominent financial institutions, as a case study, this research collects a wealth of company-recorded videos, podcasts, webinars, and textual data that offer invaluable insights for this case analysis. This investigation strives to contribute to formulating a blockchain adoption framework, drawing inspiration from successful use cases in the financial sector. This research outlines the current institutional pressures, criteria for platform selection, a blockchain adoption checklist, and novel institutional arrangements, providing a structured approach for enterprises considering embracing blockchain solutions. This framework serves as a strategic guide, facilitating organisations in navigating the complexities of blockchain implementation and ensuring a seamless integration process that aligns with their unique goals and operational requirements. Hence, discerning how to judiciously select and participate in the right blockchain consortia/platform is paramount for fostering and managing new technological innovations as businesses undergo digital transformation.

Opportunity or opportunism? Blockchain technology adoption and corporate default risk

Blockchain technology plays a significant role in new technology infrastructure and has a significant influence on artificial intelligence, big data, and 5 G, and its application has been extended to the Internet of Things, digital asset transactions, digital finance, and so on. In financial systems, it could improve the efficiency of data processing, reduce errors, and detect fraud. However, blockchain adoption could increase the stock price and induce manipulation opportunisms. Managers could also use this advantage to mask their performance and increase corporate default risk. Using the data of Chinese listed companies from 2001 to 2021, we investigate whether blockchain technology adoption could increase or decrease corporate default risk. Using the expected default risk model to estimate the risk, the results show that the default risk increases once the firm adopts blockchain technology, which indicates managerial opportunism behavior. The effect works in firms with CEO duality and higher power consolidation. And similar results are also shown in the dual-duty companies. The results are also robust in instrumental variable tests, difference-in-difference tests (DIDs), firm-fixed effect, placebo tests, and other robustness tests.

The adoption of blockchain and financing constraints: Evidence from China

Despite the recognized significance of blockchain in supply chain management literature, there has been a scarcity of studies empirically exploring the link between blockchain adoption and financing constraints. This paper delves into how blockchain adoption influences financing constraints, considering the moderating effects of environmental and firm-specific factors. Utilizing panel data from A-share listed firms in China over the period 2016–2021, our analysis reveals that blockchain adoption notably eases financing constraints. Additionally, we observe a spillover effect: the adoption of blockchain technology by a central enterprise can alleviate financing constraints for affiliated companies within their supply chain, including upstream and downstream firms. Our heterogeneity analysis indicates that the effectiveness of blockchain in reducing financing constraints is more pronounced in environments with robust internal and external governance and higher levels of marketization. Moreover, blockchain adoption can mitigate traditional finance's ownership bias against non-state-owned enterprises and the bargaining power disparities faced by central firms in the supply chain. In addition, in non-high-tech, non-heavy pollution, and non-manufacturing industries, firms can better alleviate financing constraints after adopting blockchain. These findings offer valuable insights for businesses looking to navigate the challenges and opportunities of mitigating financing constraints through blockchain adoption.

Role of Blockchain Technology in Enhancing Data Security in Germany

Purpose: To aim of the study was to analyze the role of blockchain technology in enhancing data security. Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries. Findings: Blockchain technology is increasingly recognized in Germany for its potential to enhance data security across various sectors. Its decentralized and immutable nature significantly reduces the risks of data tampering and unauthorized access, thereby fostering trust among users. In industries such as finance, healthcare, and supply chain management, blockchain provides transparent and secure methods for recording transactions and managing sensitive information. Additionally, German regulatory frameworks are evolving to accommodate blockchain applications, promoting innovation while ensuring compliance with data protection laws like the GDPR. Unique Contribution to Theory, Practice and Policy: Technological acceptance model (TAM), diffusion of innovations (DOI) & resource-based View (RBV) may be used to anchor future studies on the role of blockchain technology in enhancing data security. Organizations should implement pilot projects to assess the effectiveness of blockchain in enhancing data security in their specific contexts. Policymakers should develop clear regulatory frameworks to support the adoption of blockchain technology across sectors.

Leveraging Blockchain for Transparent and Efficient Supply Chain Management: Business Implications and Case Studies

Blockchain technology has surfaced as a revolutionary response to important challenges in supply chain management, such as a scarcity of transparency, inefficiencies, and potential for fraud. This study looks into the implementation of blockchain in supply chain systems, focusing especially on improving transparency, operational efficiency, and the trust among stakeholders. The analysis of genuine case studies in retail, logistics, and manufacturing illustrates the ways blockchain facilitates better traceability, cuts transaction times, and increases security via immutable and valid records. This study uses a mixed-methodology by blending quantitative data analytics from secondary sources with qualitative observations from reports in the industry. Findings point to the fact that adopting blockchain technology has improved supply chain efficiency by 15-30% and reduced fraud by as much as 40%, together with a striking decrease in processing times throughout global logistics networks. The originality of this research is found in its complete examination of the economic and operational effects of blockchain, offering business leaders tactical insights on maximizing their supply chains through this technology. The paper culminates with suggestions for resolving implementation issues and tactics for extending blockchain solutions in complex international networks.

The Adoption of Blockchain Technology on Company’s Internal Control System in Sales and Purchasing Cycle

ABSTRACT This paper explores the use of blockchain technology to enhance internal control systems for fraud prevention within the sales and purchasing cycle. Despite existing internal controls, significant weaknesses persist in these systems, leading to issues such as poor performance, missing orders, underpricing, rebates, false charges, falsification of order information, late delivery, and order/performance shifting. Using the design science research approach (Hevner, March, Park, and Ram 2004), we propose a conceptual framework that allocates the verification, storage, and management of events to each authorized blockchain node, preventing tampering with verified data. By integrating blockchain’s secure, traceable, and decentralized features with smart contracts, oracles, and the Internet of Things (IoT), our framework aims to automate workflows, track goods in real-time, and measure operational performance accurately. This approach enhances internal control systems, reduces audit workloads, and mitigates the risk of business fraud and misconduct. JEL Classifications: M42; M49.

Physical unclonable functions and QKD-based authentication scheme for IoT devices using blockchain

As the number of Internet of Things (IoT) devices is increasing exponentially, strong security measures are needed to guard against different types of cyberattacks. This research offers a novel IoT device authentication technique to mitigate these challenges by integrating three cutting-edge technologies namely blockchain technology, Quantum Key Distribution (QKD), and Physically Unclonable Functions (PUFs). By utilizing the distinctive qualities of PUFs for device identification and the unrivaled security of QKD for key exchange, the proposed approach seeks to address the significant security issues present in IoT environments. Adopting blockchain technology ensures transparency and verifiability of the authentication process across distributed IoT networks by adding an unchangeable, decentralized layer of trust. An examination of the computing and communication costs reveals that the proposed protocol is effective, necessitating low computational resources that are critical for IoT devices with limited resources. The protocol’s resistance against a variety of attacks is demonstrated by formal proofs based on the Real-Or-Random (ROR) model and security evaluations using the Scyther tool, ensuring the integrity and secrecy of communications. Various threats are analyzed, and the protocol is proven to be secure and efficient from all forms of attacks.