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Key Factors Affecting Blockchain Adoption in Organizations

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Big Data and Security (ICBDS 2019)

Part of the book series: Communications in Computer and Information Science ((CCIS,volume 1210))

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Abstract

Blockchain is a decentralized network with a distributed ledger designed to store data permanently, thus offering immutability, trust, transparency, and security. It is a disruptive technological innovation beneficial to many industries. Even with such useful features, blockchain is still finding its roots in the industry. Blockchain adoption has been slower than expected. Hence, understanding the critical reasons for such delayed adoption becomes a very crucial issue. In this paper, we attempt to answer a straightforward research question “How to sell blockchain to a C-level executive?” We believe that this is the fundamental research question that needs to be answered to understand what decision-makers think of blockchain. To answer this question, we adopted a non-participant form of netnography research methodology, and we did a targeted search of social media platforms (LinkedIn, Facebook, and Twitter) to find opinions shared by experts on this topic. We gathered 98 comments posted on social platforms as secondary data for our study. Data screening was conducted to determine the relevant comments, meaning that some comments (or posts) were not related to the research question, and were omitted from the study. We selected 44 comments and categorized all the comments to identify five key factors that influence blockchain adoption in organizations, and these factors are cost, trust, awareness, efficiency, and storytelling. This research work will contribute to the body of knowledge because it will provide an insightful message to the organization towards blockchain adoption as well as give the industries an unbiased direction to build their blockchain strategy.

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Acknowledgments

The authors would like to acknowledge the contribution of an Australian Government Research Training Program Scholarship and Food Agility CRC Scholarship in supporting this research. This research is conducted within the Blockchain Research & Development Lab at Curtin University’s Faculty of Business & Law.

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Authors and Affiliations

  1. Blockchain R&D Lab, School of Management, Faculty of Business and Law, Curtin University, Perth, Australia

    Abubakar Mohammed & Vidyasagar Potdar

  2. Institute of Automation, Qilu University of Technology (Shandong Academy of Sciences), Jinan, China

    Li Yang

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  1. Abubakar Mohammed
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  2. Vidyasagar Potdar
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Correspondence to Abubakar Mohammed .

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Editors and Affiliations

  1. Nanjing Institute of Technology, Nanjing, China

    Yuan Tian

  2. Nanjing University of Information Science and Technology, Nanjing, China

    Tinghuai Ma

  3. King Saud University, Riyadh, Saudi Arabia

    Muhammad Khurram Khan

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Mohammed, A., Potdar, V., Yang, L. (2020). Key Factors Affecting Blockchain Adoption in Organizations. In: Tian, Y., Ma, T., Khan, M. (eds) Big Data and Security. ICBDS 2019. Communications in Computer and Information Science, vol 1210. Springer, Singapore. https://doi.org/10.1007/978-981-15-7530-3_35

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  • DOI: https://doi.org/10.1007/978-981-15-7530-3_35

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