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Determinants of Blockchain Adoption as Decentralized Business Model by Spanish Firms: – An Innovation Theory Perspective

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  • Hashimy, Loha
  • Geetika, Jain
  • Grifell-Tatje, Emili

Abstract

urpose: Large attention surrounds identifying the meaningful blockchain business model on financial services, while a little focus about non-financial organizations and solutions in terms of how the blockchain business model can affect the organization and bring more value. To address the complex structure of businesses that have public goods, it is important to develop sustainable blockchain-based business models. Design/methodology/approach: This study offers the first qualitative research that uses an integrated technological, environmental and organizational (TOE) framework with technology acceptance theory (TAM) to study the adoption of blockchain technology by Spanish firms. Findings: The results of the paper discuss how that competitive pressure, competence, top management support and relative advantage have a positive impact on intention to adopt blockchain technology while complexity affects the intention to adopt the technology negatively. Contrary to many adoption studies, the findings show that intention to adopt negatively impacts adoption and outline the effect of blockchain on business model elements on the macroeconomic level. Originality/value: The key contribution of this study lies in providing a comprehensive understanding of the environmental, technological and organizational factors that impact the intention to adopt blockchain that eventually affects adoption.

Suggested Citation

  • Hashimy, Loha & Geetika, Jain & Grifell-Tatje, Emili, 2023. "Determinants of Blockchain Adoption as Decentralized Business Model by Spanish Firms: – An Innovation Theory Perspective," MPRA Paper 119903, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:119903
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    References listed on IDEAS

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    5. Xinshu Zhao & John G. Lynch & Qimei Chen, 2010. "Reconsidering Baron and Kenny: Myths and Truths about Mediation Analysis," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 37(2), pages 197-206, August.
    6. Khayer, Abul & Talukder, Md. Shamim & Bao, Yukun & Hossain, Md. Nahin, 2020. "Cloud computing adoption and its impact on SMEs’ performance for cloud supported operations: A dual-stage analytical approach," Technology in Society, Elsevier, vol. 60(C).
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    Cited by:

    1. Lavaei Adaryani, Rasool & Palouj, Mojtaba & Karbasioun, Mostafa & Asadi, Ali & Gholami, Hesamedin & Kianirad, Ali & Joodi Damirchi, Milad, 2024. "Antecedents of blockchain adoption in the poultry supply chain: An extended UTAUT model," Technological Forecasting and Social Change, Elsevier, vol. 202(C).
    2. wael AL-khatib, Ayman, 2023. "Drivers of generative artificial intelligence to fostering exploitative and exploratory innovation: A TOE framework," Technology in Society, Elsevier, vol. 75(C).

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    More about this item

    Keywords

    Blockchain technology ; Business model ; Decentralized ; TAM ; TOE;
    All these keywords.

    JEL classification:

    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics

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