The ongoing interest in blockchain technology (BCT)-based financial solutions has put financial firms under pressure to transform their strategies and services to cope with financial innovation development. Nevertheless, its determinants and impacts in emerging financial markets are not yet well comprehended. This empirical research seeks to explore the determinants and impact of BCT adoption in Jordanian financial firms using the technology-organization-environment model and resource-based view theory.
The proposed research model was measured using quantitative data collected from managers working in Jordanian financial firms. The research data was collected through a cross-sectional survey approach and analyzed using partial least squares structural equation modeling (PLS-SEM).
The results show that technological factors (technology compatibility and relative advantage), organizational factors (top management support and organizational readiness) and environmental factors (competitive pressure and regulatory support) influence BCT adoption among Jordanian financial firms. The findings also demonstrate that BCT adoption influences financial firms’ performance in terms of both market and financial indicators.
This empirical research addressed an important gap in digital financial innovation research by providing a theoretical model of the determinants and impacts of BCT adoption in the Jordanian financial market.
