Title: A hierarchical structure model for blockchain technology adoption

Authors: Jiayan Zheng; You Ouyang; Lixu Li; Fei Ye

Addresses: School of Business Administration, South China University of Technology, Guangzhou, 510640, China ' School of Business Administration, South China University of Technology, Guangzhou, 510640, China ' School of Economics and Management, Xi'an University of Technology, Xi'an, 710054, China ' School of Business Administration, South China University of Technology, Guangzhou, 510640, China

Abstract: Although blockchain technology (BT), with the characteristics of decentralisation, autonomy, and anonymity, shows significant promise in increasing operational efficiency and transparency, the diffusion of BT remains slow. To address this dilemma, we investigate the hierarchical structure among various determinants of BT adoption based on the technology-organisation-environment (TOE) model and the diffusion of innovation theory (DOI). We employ an integrated approach, sequentially including the decision-making trial and evaluation laboratory (DEMATEL) technique, the maximum mean de-entropy (MMDE) technique, and the interpretive structural modelling (ISM) approach. The empirical results from 17 BT practitioners and scholars reveal that complexity, compatibility, competitive pressure, and government support are four basic factors to constitute a hierarchical structure. In contrast, the relative advantage is the only factor in the second layer, followed by organisational readiness and top management support in the first layer. We contribute to BT adoption literature by presenting a new hierarchical structure of different determinants.

Keywords: blockchain; technology-organisation-environment model; diffusion of innovation theory; interpretive structural modelling; ISM.

DOI: 10.1504/IJMDM.2024.135290

International Journal of Management and Decision Making, 2024 Vol.23 No.1, pp.33 - 57

Received: 01 May 2022
Accepted: 18 Aug 2022
Published online: 04 Dec 2023 *

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