Abstract:

Considered to be one of the most disruptive innovations paving the way for the development of new business models, the blockchain technology is heavily ingrained in the strategic thinking of companies that are exploring ways to unleash its power in a variety of realms. However, the adoption of blockchain technology requires an overarching approach above and beyond its technological component. Drawing on the extant management and marketing literature on blockchain technology, this paper proposes a conceptual framework for its adoption which integrates the relationships between technological, organizational, environmental factors, while also adding the consumer behavior as a standalone factor that influences the adoption of this technology. The authors took a holistic approach by incorporating both intrinsic and extrinsic factors as well as the associated complexities that ultimately influence the adoption decision-making process. The proposed framework can be used by organizations as a starting point in their journey to embracing this disrupting technology as well as by scholars willing to refine and further expand the research on the adoption of blockchain technology.