Blockchain Adoption Research Articles

Blockchain adoption and its impact on sustainability of accounting education

Blockchain adoption and its impact on sustainability of accounting education

Block Medcare: Advancing Healthcare Through Blockchain Integration

In an era driven by information exchange, transparency and security hold crucial importance, particularly within the healthcare industry, where data integrity and confidentiality are paramount. This paper investigates the integration of blockchain technology in healthcare, focusing on its potential to revolutionize Electronic Health Records (EHR) management and data sharing. By leveraging Ethereum-based blockchain implementations and smart contracts, we propose a novel system that empowers patients to securely store and manage their medical data. Our research addresses critical challenges in implementing blockchain in healthcare, including scalability, user privacy, and regulatory compliance. We propose a solution that combines digital signatures, Role-Based Access Control, and a multi-layered architecture to enhance security and ensure controlled access. The system's key functions, including user registration, data append, and data retrieval, are facilitated through smart contracts, providing a secure and efficient mechanism for managing health information. To validate our approach, we developed a decentralized application (dApp) that demonstrates the practical implementation of our blockchain-based healthcare solution. The dApp incorporates user-friendly interfaces for patients, doctors, and administrators, showcasing the system's potential to streamline healthcare processes while maintaining data security and integrity. Additionally, we conducted a survey to gain insights into the perceived benefits and challenges of blockchain adoption in healthcare. The results indicate strong interest among healthcare professionals and IT experts, while also highlighting concerns about integration costs and technological complexity. Our findings underscore the transformative potential of blockchain technology in healthcare, pointing towards a new era of patient-centric and secure healthcare services. By addressing current limitations and exploring future enhancements, such as integration with IoT devices and AI-driven analytics, this research contributes to the ongoing evolution of secure, efficient, and interoperable healthcare systems.

Enhancing Security and Traceability in Aerospace Supply Chains through Block Chain Technology

This study explores the impact of blockchain technology on aerospace supply chains, focusing on mitigating risks such as supply chain disruptions, counterfeit parts, and regulatory compliance challenges. A mixed-methods approach was employed, combining quantitative and qualitative analysis using data sourced from publicly available databases, including the Federal Aviation Administration (FAA), the Aerospace Industries Association (AIA), the International Air Transport Association (IATA), and reports from blockchain technology providers. Descriptive analysis identified supply chain disruptions (M = 3.74, SD = 1.17) as the most significant risk, followed by counterfeit parts (M = 3.34, SD = 1.20). Structural Equation Modeling (SEM) demonstrated that part authentication and provenance tracking had the strongest impact on improving traceability (β = 0.40, p < 0.001) and transparency (β = 0.38, p < 0.001). A Cost-Benefit Analysis (CBA) revealed a positive return on investment, with cost-benefit ratios up to 2.31. Blockchain adoption was also found to reduce CO₂ emissions by up to 25%, while improving operational efficiency through shorter procurement lead times and lower administrative costs. However, regulatory misalignment and interoperability challenges remain barriers to full adoption. The study concludes that blockchain is a transformative tool for enhancing traceability, security, and sustainability in aerospace supply chains.

When two chains meet: Optimizing the design of blockchain-enabled supply chain networks

Applications of the blockchain technology are rapidly emerging across sectors. By redefining information flow, blockchain technology promises to instill trust among supply chain members, improve transaction efficiency, thus reshaping the structure and configuration of supply chains. The practical exploratory use of blockchain has shown immense potential in supply chain management. In order to explore the new changes brought by blockchain technology to supply chain network design issues, this study focuses on the supply chain network design problem in the context of blockchain technology. Specifically, we consider a supply chain network comprised of a number of distribution centers (DCs) and retailers. The operation of this physical network is supported by blockchain-based information infrastructure. As the interrelated relationship between these two networks, it is necessary to optimize them simultaneously to improve the profitability and information exchange level. We propose an objective function based on previous studies to maximize the profits of the entire supply chain network, with decision variables including DC locations, retailer assignment, inventory replenishment policy, and blockchain adoption level. At the same time, to characterize the interrelation between the two networks, the demand and certain cost parameters of the model become endogenous depending on the blockchain adoption level, which significantly increases the complexity of the solution algorithm. We reformulate the model and use the polymatroid cutting plane approach to address this issue. We conducted calculations and numerical analysis. The computational results show that the proposed method can solve practically sized problems, and integrating blockchain design reduces the system-wide cost. We discuss managerial insights based on a range of numerical studies and solve a case study using publicly available instance data.

Challenges of blockchain adoption for manufacturing supply chain to achieve sustainability: A case of rubber industry

Global market competitiveness and standards are pushing the manufacturing supply chain to adopt sustainable approaches to enhance quality, reduce waste, improve environmental practices, and optimize product costs. Blockchain technology has emerged as a promising tool for improving supply chain transparency and manufacturing sustainability. However, various challenges to the mainstream use of blockchain must be identified and addressed. In this regard, the study aims to identify and comprehend the challenges of adopting blockchain technology in the manufacturing sector to improve sustainable standards. To bridge this gap, the study used a three-step procedure. First, through a comprehensive literature review, 19 potential challenges were identified. Then, with the experts' discussion, a total of 18 challenges were finalized. In the second phase, data was collected from 15 professionals with industrial backgrounds. Lastly, the collected data was analyzed using Combined Compromise Solution methodologies and the Fuzzy-Decision-Making Trial and Evaluation Laboratory (fuzzy DEMATEL). This hybrid methodology prioritizes the challenges in blockchain adoption and categorizes them into causal groups. This improves the decision-making process by evaluating how the mutual impact of challenges in blockchain adoption affects achieving sustainability in the manufacturing supply chain. The outcomes of the presented work are validated through a sensitivity analysis of the outranked dimensions of blockchain adoption challenges. Results show that 'High Initial Investment Cost' and 'Lack of Digital Skills’ are the top challenges in its adoption. The findings of this work provide a roadmap to make the manufacturing supply chain sustainable and accomplish sustainability.

Blockchain enabled traceability — An analysis of pricing and traceability effort decisions in supply chains

Despite numerous use cases, enterprise-wide implementations of blockchains have seen limited success. This raises the question of when do firms adopt blockchains and do blockchains benefit supply chains. To answer this, we examine a dyadic supply chain consisting of a buyer and a supplier and analyze their traceability effort and pricing decisions. Our results show that the demand-side, supply-side and reputational factors influencing blockchain adoption are primarily complementary and in the absence of one of them, firms can still adopt blockchain. Furthermore, even in the absence of individual benefits for a supply chain partner, there exist conditions under which blockchain adoption benefits the supply chain that can incentivize players to join blockchain. Overall, we contribute by offering a framework that supply chain players can use to assess the likelihood of blockchain implementation success or failure and address the challenges pertaining to incentives and cost imbalances in blockchain implementation.

4차 산업혁명 시대의 블록체인 기반 전자선하증권 활용에 관한 실증연구

Purpose: This paper evaluates the factors influencing the adoption and use of blockchain’s electronic bill of lading (e-B/L) in the trade and logistics industry, assessing its practical acceptability and suggesting future research directions. Research design, data, and methodology: This paper developed a research model based on prior studies and technology acceptance models, and used survey data from Korean trade and logistics firms to identify factors influencing e-B/L adoption. Results: Availability and suitability of a blockchain e-B/L influences its perceived ease of use positively, while security and suitability influences perceived usefulness positively. Both perceived ease of use and perceived usefulness had a positive impact on the intention to use. Conclusions: This paper provides practitioners and researchers in the field of trade logistics with in-depth insights into the key factors influencing the adoption and utilization of a blockchain e-B/L, and provides a useful basis for future research and practical decisions.

Proposing a Model to Enhance Security in Online Blockchain-Based Banking Transactions

In the banking industry, technologies are changing rapidly. The banking industry is the first target to implement the new technology to provide better customer services. In the past, banking systems used the manual ledger system, which has many drawbacks. To overcome this, the banking industry implemented the computerised mechanism to implement the centralised system, in which data is stored in one place, like a data warehouse. However, this centralised, automated system has also led to increased threats and cybercrimes. There are various malicious software (ransomware, phishing) through which hackers can hack customers' private data and use it illegally. The urgency to address these challenges has led to the adoption of blockchain, a leading technology based on decentralised, distributed behaviour and its public ledger system. Implementing blockchain in the banking sector is not just a choice, but a necessity. It can increase security, immutability, faster transactions, a decentralised system, consensus manner, transparency, etc. We will be discussing blockchain and its functionality. Furthermore, we will present a theoretical framework that uses consortium blockchain to reduce security threats in online transactions. Our model, IVSMOT, is a crucial step in this direction, as it divides the private key into two shares, thereby addressing the urgent need to enhance security in online banking transactions.

REVIEWING LIMITED SUPPLY CRYPTO PROJECTS: ULTIMA, COREDAOVIP

Ultima (also referred to as PLC Ultima) is a cryptocurrency and blockchain-based ecosystem aimed at providing a range of financial services. It offers tools like a cryptocurrency debit card, minting and farming solutions, cashback programs, and cryptocurrency wallets. The primary goal of Ultima is to facilitate global financial inclusion by giving users access to fintech services that traditional financial systems may not offer. On other hand, COREDAOVIP is a blockchain-based platform designed to enhance decentralized finance (DeFi) and NFT ecosystems through innovative liquidity pooling and automated trading mechanisms. Built on the foundation of Core DAO’s decentralized principles, COREDAOVIP aims to provide users with secure, transparent, and efficient financial solutions. It integrates smart contracts and cross-chain compatibility, enabling seamless interaction between different blockchain networks. Additionally, COREDAOVIP facilitates decentralized identity systems, offering users control over their data and assets while supporting NFT projects like 9NFTMania, which merges digital currency with NFT art. As DeFi and blockchain adoption grow, COREDAOVIP is positioned to play a key role in transforming financial ecosystems through enhanced security, liquidity, and decentralized governance. This platform’s innovative approach to token integration and decentralized trading enhances its potential in the rapidly evolving blockchain landscape.

Beyond the hype: A TAM-based analysis of blockchain adoption drivers in construction industry

In complementing our existing knowledge of blockchain technology adoption in the construction industry, this research investigated how the Technology Acceptance Model (TAM) applies to adopting blockchain technology among Saudi Arabian Construction companies. This study utilized cross-sectional data collection, causal research design, a quantitative research approach, and a simple random sampling technique to collect data from 248 Saudi Arabian construction companies. Partial least squares structural equation modelling (PLS-SEM) was utilized to analyze the data. The results showed that attitude toward adopting Blockchain (ATT) and perceived ease of use (PEU) are good predictors of behavioural intention to adopt Blockchain. The findings showed that when construction companies perceive the ease of use of Blockchain, they intend to adopt the technology. Attitude toward adopting Blockchain, directly and indirectly, influences behavioural intention to adopt the Technology. However, top management support only directly leads to intention once the companies perceive the usefulness of blockchain technology. This paper complements the existing literature on adopting Blockchain in the Saudi Arabian construction industry. The study provides insight into the influence of top management support, attitude toward adoption, and perceived ease of use in the blockchain adoption process.

Design of Blockchain and Strategic Financing Service under the Platform Economy

The capital constrains and uncertainties in supply disruptions faced by small and medium-sized suppliers pose critical challenges for the development of e-commerce platforms. In response, platforms have begun offering direct financing (PDF) to their suppliers alongside traditional bank credit financing (BCF). Within the private (consortium) blockchain, the platform and the supplier (and the bank) achieve consensus on financial smart contract, enabling the execution of flexible contracts tailored to suppliers’ risk profile. We develop a game-theoretic model to examine the terms of smart contracts in different blockchains and further investigate the platform's optimal blockchain design. We find that PDF serves to safeguard the platform's commission income from high-interest BCF. Our analysis reveals that PDF is more likely to be provided to a risky supplier within the consortium blockchain, contrasting with outcomes observed within the private blockchain. As a result, the platform and the supplier could reach win-win, or win-lose outcomes within the private blockchain; while within the consortium blockchain, they tend to result in win-win or lose-win outcomes. Such incentive conflict could potentially hinder blockchain adoption. Our findings further provide the managerial insights guiding the platform's blockchain design: adopting consortium blockchain under moderate market potential and low or high supplier's risk, and adopting private blockchain otherwise. Furthermore, we consider the supplier's endogenous effort on reducing risk, and numerically demonstrate that blockchain may encourage or discourage the supplier's effort. Our research complements previous studies by investigating the interaction between the PDF provision and blockchain structures under uncertain supply disruption risk.

The Readiness of Private Higher Education Institutions in Indonesia to Adopt Blockchain in Accounting Information Systems

This study aims to evaluate the readiness of Private Higher Education Institutions (HEI) in Indonesia to adopt blockchain technology. Using the Unified Theory of Acceptance and Use of Technology (UTAUT) model, this research explores the factors influencing the acceptance of blockchain technology, including Relative Advantage, Accounting Information Quality, Trust, Performance Expectancy, Effort Expectancy, and Intention to Use. Blockchain, as a decentralized, transparent, and secure technology, has the potential to enhance the accounting systems in Private HEIs. However, the adoption of this technology in the education sector remains at an early stage. This study uses a quantitative approach, with surveys distributed through questionnaires to financial department heads in accredited Private HEI across Indonesia. The findings show that Relative Advantage and Accounting Information Quality have a significant positive impact on Performance Expectancy, while Trust strongly influences Effort Expectancy. Performance Expectancy and Effort Expectancy contribute to the Intention to Use blockchain in Private HEI. This study contributes to the literature on blockchain adoption, particularly in the context of higher education, by emphasizing the potential of this technology to create more efficient, transparent, and secure accounting systems in Private HEI. These findings aim to provide practical guidance for higher education institutions and stakeholders in preparing for successful blockchain implementation.

Blockchain-enabled downward traceability to combat gray market

Cross-market brand owners have long been troubled by the gray market issues. This study examines a dual distribution channel model involving one brand owner, two retailers, and two independent markets. In this model, low-end retailers privately transfer products from the low-end to high-end markets, creating a gray market. The brand addresses this behavior by adopting blockchain. We examine the impact of blockchain on gray market invasion, firm decisions, consumer surplus, and social welfare through downward traceability. The results show that gray market invasion consistently benefits low-end market retailers while disadvantaging high-end market retailers. It is profitable for the brand to allow gray market invasion when the willingness to pay in the low-end market is substantial. Blockchain adoption can effectively inhibit gray market invasion, benefiting high-end market retailers while harming low-end market retailers and the brand, depending on the cost and penalty fee involved with blockchain implementation. When the cost of blockchain adoption is relatively low, brand adopting blockchain may achieve a win-win-win market situation. However, although consumer surplus and social welfare can benefit from a gray market invasion, adopting blockchain reduces this impact, especially when cost of blockchain adoption and penalty fee are both relatively high.

Unraveling blockchain adoption in the insurance sector: a comprehensive TOE framework with knowledge management practices

Unraveling blockchain adoption in the insurance sector: a comprehensive TOE framework with knowledge management practices

Applying innovation diffusion theory to blockchain adoption in Indian private sector banks

Applying innovation diffusion theory to blockchain adoption in Indian private sector banks

Investigating the potential of blockchain technology for geospatial data sharing: Opportunities, challenges, and solutions

Blockchain technology holds transformative potential for geospatial data sharing by offering enhanced security, transparency, and decentralization. This paper explores the integration of blockchain into managing geospatial data, focusing on its capabilities to revolutionize data storage, identification, property rights confirmation, and traceability. Through a comprehensive review of current blockchain applications and a detailed analysis of scalability, privacy, security, and cost concerns, this study identifies key challenges hindering blockchain adoption in geospatial data workflows. To address these issues, the research proposes solutions such as off-chain scaling, advanced encryption techniques, and cloud-based blockchain infrastructures. The study emphasizes the importance of aligning blockchain applications with existing legal and regulatory frameworks, including GDPR and other data protection laws. While blockchain presents significant opportunities for improving geospatial data management, this study concludes that successful implementation requires overcoming technical and regulatory hurdles. Future research should focus on developing standardized protocols and exploring innovative use cases to maximize the benefits of blockchain in geospatial contexts.

Blockchain adoption and analyst forecast accuracy

We examine the relationship between corporate blockchain adoption and analyst forecast accuracy. We manually collect the blockchain usage data of public firms from the Factiva news database. Using a staggered Difference-in-Differences method, we find that analyst forecast accuracy significantly improves after firms adopt blockchain technology. In addition, the change in analyst coverage could be the potential explanation for this result.

Research on low-carbon supply chain emission reduction strategies based on blockchain technology

The difficulty of regulating carbon trading due to information asymmetry and low consumer trust in low-carbon products are key factors hindering companies from reducing emissions. This paper examines a manufacturer-led secondary low-carbon supply chain consisting of a single supplier and a retailer, focusing on the impact of blockchain technology on carbon transaction costs and consumers' low-carbon preferences. Utilizing Stackelberg game theory, the paper constructs a supply chain decision model for emission reduction, determining the payment matrix and analyzing the stable strategy for blockchain adoption through evolutionary game theory. The findings indicate that retailers' adoption of blockchain technology significantly promotes emission reduction within the supply chain, whereas manufacturers' adoption has minimal impact. Additionally, the study reveals that variations in blockchain adoption costs and carbon quotas result in multiple evolutionary stable strategies. Specifically, when blockchain adoption costs and carbon quotas are below certain thresholds, the system reaches a unique equilibrium where both parties adopt blockchain technology.

Blockchain on Sustainable Environmental Measures: A Review

Blockchain has emerged as a solution for ensuring accurate and truthful environmental variable monitoring needed for the management of pollutants and natural resources. The immutability property of blockchain helps protect the measured data on pollution and natural resources to enable truthful reporting and effective management and control of polluting agents. However, specifics on what to measure, how to use blockchain, and highlighting which blockchain frameworks have been adopted need to be explored to fill the research gaps. Therefore, we review existing works on the use of blockchain for monitoring and managing environmental variables in this paper. Specifically, we examine existing blockchain applications on greenhouse gas emissions, solid and plastic waste, food waste, food security, water usage, and the circular economy and identify what motivates the adoption of blockchain, features sought, used blockchain frameworks and consensus algorithms, and the adopted supporting technologies to complement data sensing and reporting. We conclude the review by identifying practical works that provide implementation details for rapid adoption and remaining challenges that merit future research.

A systematic literature review of blockchain technology and accounting issues: Is it a hype or hope?

Purpose This research aims to review the integration of blockchain in accounting issues by identifying patterns and areas of research and outlining a roadmap for future investigations. Motivation Although anecdotal evidence indicates a rising investment in blockchain technology, there is currently a lack of systematic literature reviews assessing its implications in accounting issues. While blockchain holds significant potential, the challenges and opportunities associated with its integration into financial reporting warrant further investigation. Design/Methodology/Approach From 2017 to 2023, a systematic literature review in the accounting, business, and management journals from the Scopus Database identified 77 articles on blockchain and accounting. Main findings Increasing the quality of information using blockchain positively impacts governance, accountability, supply chain, innovation, shareholder value, and sustainability reporting. However, stakeholders' high expectations of these benefits, coupled with a minimal understanding of blockchain and the need for accounting regulations or standards governing blockchain adoption, may reduce the reliability and relevance of information derived from blockchain adoption, potentially leading to opportunistic behaviour. Practical implications Organizations must manage risks amidst high expectations(hype) surrounding the adoption of this technology. Further research into earnings management – whether opportunistic or beneficial – and its impact on non-profits and SMEs could yield valuable insights. Novelty/Contribution Provides a comprehensive overview of current accounting research on blockchain technology through a hybrid approach.