Blockchain Technology Adoption: Factors Influencing Intention and Usage

Blockchain technology is already being discussed as an emerging trend for the upcoming years. Researchers and organizations are beginning to recognize the potential benefits of this technology and are exploring how it can disrupt our world. However, the reality is that there has not been much progress in getting blockchain from a concept to widespread adoption. This study aimed to investigate the factors that influence the adoption of blockchain technology. We proposed a model that incorporated relevant features to blockchain technology adoption, specifically the role of Trust and Security as mediating variables. Data was collected using a questionnaire administered to people working in companies independently of their technology usage. Structural equation modeling using partial least squares (SEM-PLS) was used to analyze the data and construct the model. Results indicated that performance expectancy, social influence, and trust positively influenced people’s actual use or intention to adopt blockchain technology. Additionally, environmental concerns had a negative effect on the intention to adopt. These findings suggest that individuals are more likely to adopt blockchain technology when they perceive it as valuable and trustworthy and receive support from their social networks.