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Analyzing the barriers to blockchain adoption in supply chain finance using an integrated interval-valued Fermatean fuzzy RAFSI model

Author

Listed:
  • Weizhong Wang

    (Anhui Normal University)

  • Yu Chen

    (Anhui Normal University)

  • Yi Wang

    (Anhui Normal University)

  • Muhammet Deveci

    (Turkish Naval Academy, National Defence University
    Western Caspian University
    Lebanese American University)

  • Amer Al-Hinai

    (Sultan Qaboos University
    Sultan Qaboos University)

  • Seifedine Kadry

    (Lebanese American University
    Noroff Uiversity College)

Abstract

Many attempts have been made to identify barriers to blockchain adoption in supply chain; however, barriers to blockchain adoption in supply chain finance (SCF) are underexplored. This study prioritizes barriers to blockchain adoption in SCF and evaluates the barrier level of each alternative participant. We propose an integrated decision model to prioritize the barriers and evaluate their levels of alternative participants. To determine the barriers, we conducted a literature review. We then introduce an integrated weight calculation method by combining interval-valued Fermatean fuzzy (IVFF)-optimistic-pessimistic-utility values-based and IVFF-RS (ranking sum) methods to determine the barrier weights. To evaluate the barrier level of each alternative participant in SCF, the integrated IVFF-RAFSI (Ranking of Alternatives through Functional Mapping of Criterion Subintervals into a Single Interval) model is presented to rank the barrier, which uses a power-weighted aggregation operator to fuse experts’ opinions. A case study demonstrates the practicality of the integrated IVFF-RAFSI model. The results show that uncertain and competitive markets (weighted at 0.0676) are the most significant barriers. This finding also suggests that small and medium-sized processing enterprises have the highest barriers to blockchain adoption. Sensitivity and comparative analyses validate the steadiness and competency of the proposed model. These results indicate that the proposed methodology provides a systematic technique for analyzing barriers to blockchain applications in SCF.

Suggested Citation

  • Weizhong Wang & Yu Chen & Yi Wang & Muhammet Deveci & Amer Al-Hinai & Seifedine Kadry, 2025. "Analyzing the barriers to blockchain adoption in supply chain finance using an integrated interval-valued Fermatean fuzzy RAFSI model," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 11(1), pages 1-39, December.
    • Handle: RePEc:spr:fininn:v:11:y:2025:i:1:d:10.1186_s40854-024-00670-y
    DOI: 10.1186/s40854-024-00670-y
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