Development of an Adoption Model for Blockchain Technology using the Unified Theory of Acceptance and use of Technology (UTAUT)

Authors

  • Sahar Salem
  • Nor’ashikin Ali

Abstract

Blockchain is a secure record of historical transactions verified by consensus of the majority of the participating parties in the network. Even though the innovation of blockchain technology has proved to be a cutting-edge technology capable of revolutionizing the digital world, it is still going through slow adoption. Therefore, the purpose of this study is to determine the factors that affect blockchain technology adoption using the unified theory of acceptance and use of technology (UTAUT). The research model was developed by integrating two constructs which are perceived risk and trust with UTAUT. Data was collected from 157 respondents and analyzed using the Partial Least Squares Structural Equation Modelling (PLS-SEM). Results revealed that performance expectancy, facilitating conditions, trust and perceived risk had a significant effect on the intention to adopt blockchain with performance expectancy being the strongest determinant of behavioral intention. Also, effort expectancy and social influence were found non-significant.

Downloads

Published

2020-02-10

Issue

Section

Articles