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Blockchain Adoption Decision-Making Process in Business: An Empirical Study

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New Sustainable Horizons in Artificial Intelligence and Digital Solutions (I3E 2023)

Part of the book series: Lecture Notes in Computer Science ((LNCS,volume 14316))

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Abstract

Recent research has highlighted gaps between blockchain technology and its adoption decision-making process on the corporate level. This paper aims to resolve these gaps, exploring the issues and processes that need to be considered before utilizing blockchain-based solutions in various domains. We collected data using 10 semi-structured interviews among blockchain professionals that have already adopted blockchain in their companies or were involved in the adoption decision-making process. We analyzed the data using the Gioa approach and identified five dimensions that must be considered before blockchain utilization, namely infrastructure, business models, operational processes, management and environmental impact. Additionally, based on the collected data we provide questions to ask before considering blockchain and a final framework that includes 18 sub-themes of the identified dimensions. Our study extends prior frameworks that might help organizations utilize blockchain according to their business strategy. Based on our findings, we also put forward directions for future studies.

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Author information

Authors and Affiliations

  1. LUT University, 53850, Lappeenranta, Finland

    Anastasiia Gurzhii, Najmul Islam & Michael Tuape

Authors
  1. Anastasiia Gurzhii
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  2. Najmul Islam
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  3. Michael Tuape
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Corresponding author

Correspondence to Anastasiia Gurzhii .

Editor information

Editors and Affiliations

  1. Delft University of Technology, Delft, The Netherlands

    Marijn Janssen

  2. Positivo University, Curitiba, Paraná, Brazil

    Luiz Pinheiro

  3. Delft University of Technology, Delft, The Netherlands

    Ricardo Matheus

  4. Positivo University, Curitiba, Paraná, Brazil

    Fernanda Frankenberger

  5. Swansea University, Swansea, UK

    Yogesh K. Dwivedi

  6. University of Agder, Kristiansand, Norway

    Ilias O. Pappas

  7. University of Turku, Turku, Finland

    Matti Mäntymäki

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Gurzhii, A., Islam, N., Tuape, M. (2023). Blockchain Adoption Decision-Making Process in Business: An Empirical Study. In: Janssen, M., et al. New Sustainable Horizons in Artificial Intelligence and Digital Solutions. I3E 2023. Lecture Notes in Computer Science, vol 14316. Springer, Cham. https://doi.org/10.1007/978-3-031-50040-4_13

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  • DOI: https://doi.org/10.1007/978-3-031-50040-4_13

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  • Publisher Name: Springer, Cham

  • Print ISBN: 978-3-031-50039-8

  • Online ISBN: 978-3-031-50040-4

  • eBook Packages: Computer ScienceComputer Science (R0)

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