Understanding Blockchain Adoption in SMEs: A Mixed-Method Study of Digital Transformation, Resilience, and Senior Leadership Support

Chakraborty, Debarun; Behl, Abhishek; Golgeci, Ismail; Nazrul, Asif

Abstract

This study examines the adoption of blockchain technology (BCT) by small and medium-sized enterprises (SMEs), with a focus on the interplay between digital transformation, market volatility, and organizational resilience. The goal of this research is to assess how perceived usefulness and perceived ease of use shape SMEs' intention to adopt BCT. This research integrates the Technology Acceptance Model with the Dynamic Capabilities Theory to explore how perceived usefulness, ease of use, and resilience influence SMEs' adoption intentions, considering the boundary condition of senior leadership support (SLS). Conducted in India from November 2023 to February 2024, a mixed-method approach combining qualitative insights from interviews and case studies with quantitative analysis from survey data is employed to provide a comprehensive understanding of the factors driving or hindering BCT adoption. The findings also underscore the critical role of SLS in fostering resilience and guiding SMEs through the digital transformation process, highlighting the need for tailored strategies to support BCT integration in resource-constrained environments. This research contributes to bridging the knowledge gap on the impact of BCT on SMEs, offering practical implications for entrepreneurs seeking to leverage BCT for a competitive advantage amid volatility. This study reveals that the successful adoption of BCT by SMEs hinges not only on perceived usefulness and ease of use but also on the strategic alignment of digital capabilities with resilience-building efforts, particularly under strong SLS.

Citation

Chakraborty, D., Behl, A., Golgeci, I., & Nazrul, A. (2025). Understanding Blockchain Adoption in SMEs: A Mixed-Method Study of Digital Transformation, Resilience, and Senior Leadership Support. IEEE Transactions on Engineering Management, 1-15. https://doi.org/10.1109/tem.2025.3556371

• Journal Article Type: Article
• Acceptance Date: Mar 31, 2025
• Online Publication Date: Mar 31, 2025
• Publication Date: Mar 31, 2025
• Deposit Date: Apr 15, 2025
• Publicly Available Date: Apr 15, 2025
• Journal: IEEE Transactions on Engineering Management
• Print ISSN: 0018-9391
• Publisher: Institute of Electrical and Electronics Engineers (IEEE)
• Peer Reviewed: Peer Reviewed
• Pages: 1-15
• DOI: https://doi.org/10.1109/tem.2025.3556371
• Keywords: Resilience, Digital transformation, Business, Uncertainty, Costs, Complexity theory, Technological innovation, Navigation, Technology acceptance model, Industries, SMEs, Intention to adopt, Blockchain technology, Digital transformation, VUCA
• Public URL: https://keele-repository.worktribe.com/output/1195526
• Publisher URL: https://ieeexplore.ieee.org/document/10946106