Factors affecting the organisational adoption of blockchain technology in australia : a mixed-methods approach

Abstract

Blockchain (BCT) is an emerging technology that promises many benefits for organisations, such as disintermediation, data security, data transparency, a single version of the truth, and trust among trading partners. Despite its multiple benefits, the adoption rate of BCT among organisations has not reached a significantly high level worldwide. The present thesis addresses this issue in the Australian context. There is a knowledge gap in what specific factors, among the plethora of factors reported in the extant scholarly and commercial literature, affect Australian organisations while deciding to adopt BCT. To fill this gap, this thesis uses a mixed-methods approach known as sequential exploratory mixed methods. In this approach, the research starts with a qualitative phase as an initial phase followed by a quantitative phase. During the qualitative phase, data were collected through semi-structured interviews of the BCT experts and decision-makers working with the ifferent Australian organisations that adopted or were in the process of adopting BCT. The Technology, Organisation, Environment (TOE) framework, based on the qualitative interpretative approach, was used as a theoretical lens during the qualitative phase. The qualitative data were analyzed using the thematic analysis technique with the SQR NVivo software. The analysis shows that the different factors, belonging to the technological, organisational, and environmental contexts, affect the organisational decision to adopt BCT in Australia. The technological factors include perceived benefits, perceived computability, perceived complexity, perceived disintermediation, and perceived information transparency; organisational factors are organisational innovativeness, organisational learning capability, top management support; environmental factors consist of government support, standards uncertainty, competition intensity, and trading partners readiness. The qualitative analysis also shows the direct and moderating effect of the perceived risks between the relationship of the identified factors and organisational adoption of BCT. Based on the findings of the qualitative phase, the thesis develops a theoretical conceptual model, which shows the relationship between the factors and the organisational adoption of BCT. To increase the external validity of the developed conceptual model, the thesis started a quantitative phase with the administration of an online survey for data collection. Certain criteria were set to screen out the irrelevant participants in the survey. During this phase, hypotheses were proposed for the relationship of the factors identified in the qualitative phase and the organisational adoption of BCT. The survey data was analyzed using the PLS Structural Equation Modelling (SEM) technique with the SmartPLS 3 software. The quantitative analysis confirms the findings of the qualitative phase that the perceived benefits, perceived compatibility, perceived information transparency, perceived disintermediation, organisational innovativeness, organisational learning capability, top management support, competitive intensity, government support, and trading partner readiness have a positive effect on the organisational adoption of BCT. Whereas the perceived complexity, standards uncertainty, and perceived risks have a negative effect. The analysis also shows that the moderating effects of perceived risks are significant in the relationship of perceived compatibility, perceived information transparency, perceived disintermediation, organisational innovativeness, organisation innovativeness, competition intensity, and organisational adoption of BCT. Contrary to the qualitative findings, ‘perceived risks’ has no moderating effects on the relationship of perceived benefits, organisational learning capability, top management support, government support, trading partner readiness, and the adoption of BCT. The thesis has both theoretical and practical contributions, which are useful both for theory development and decision-making for the adoption of BCT in Australia. Theoretically, this thesis contributes to the existing IT adoption literature in several ways. Firstly, the thesis provides empirical evidence about the factors affecting organisational adoption of BCT in Australia. This is the first in-depth sequential exploratory mixed methods research that bridges this knowledge gap in the extant literature. The identification of such factors is important, particularly for the Australian government and organisations interested in the value creation of BCT. Second, the thesis reports the effect of new factors, namely, perceived information transparency, perceived disintermediation, organisational innovativeness, organisational learning capability, standards uncertainty, trading partner readiness, and competition intensity on BCT adoption that are exclusively identified in this research. Third, this thesis confirms the findings of the past studies that the factors of perceived benefits and perceived compatibility, perceived complexity, and top management support have an effect on the organisational adoption of BCT. Fourth, according to the best of the authors' knowledge, this is the first research that has used the qualitative interpretive research approach to investigate the organisational adoption of BCT. Therefore, the thesis confirms the suitability of the qualitative interpretive research approach for BCT adoption. Lastly, most of the researchers have used the TOE framework in either in qualitative or quantitative research. This thesis proves its validity in mixed methods research as well. The thesis's practical contributions are discussed in chapter 7.Doctor of Philosoph