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

Hashimy, Loha; Jain, Geetika; Grifell-Tatjé, Emili

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Authors

Loha Hashimy

Emili Grifell-Tatjé



Abstract

Purpose
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.

Citation

Hashimy, L., Jain, G., & Grifell-Tatjé, E. (2022). Determinants of Blockchain Adoption as Decentralized Business Model by Spanish Firms - An Innovation Theory Perspective. Industrial Management and Data Systems, https://doi.org/10.1108/IMDS-01-2022-0030

Acceptance Date Mar 30, 2022
Publication Date Apr 21, 2022
Publicly Available Date May 3, 2022
Journal Industrial Management and Data Systems
Print ISSN 0263-5577
Publisher Emerald
DOI https://doi.org/10.1108/IMDS-01-2022-0030
Keywords TOE; Business model; TAM; Decentralized; Blockchain technology
Publisher URL https://doi.org/10.1108/IMDS-01-2022-0030

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