This study aims to analyze antecedents of blockchain technology adoption (BCTA) based on a technological–organisational–environment (TOE) framework and the performance outcomes of such adoption. The authors further examine the moderating effect of the institutional environment (developed versus developing economies) on the above relationship.
Using structural equation modeling, the authors analyze the research model using a sample of 255 responses from supply chain practitioners across nations. The findings indicate: (a) technological (technological compatibility), organizational [organizational readiness (OR)] and environmental [mimetic pressure and coercive pressure (CP)] factors enhance BCTA; (b) BCTA reduces operational costs and (c) intriguing differences in the above relationships exist between firms located in developed and developing economies.
The result indicates that OR affects BCTA in developing economies, not in developed economies, while the CPs drive BCTA only in developed economies, not in developing economies.
This study highlights the contextual nuances of blockchain adoption across economies but is limited by its cross-sectional design and uneven representation of developed economies. The insights help firms assess opportunities and drivers associated with blockchain adoption.
The study uniquely integrates the TOE framework with institutional theory to reveal the moderating impact of macro-institutional differences on blockchain adoption and its outcomes.
