Blockchain technology-driven supply chain financing for Ghana's SMEs: An evaluation of the dilemmas to adoption using a picture fuzzy preference selection index technique

Small and medium-sized enterprises (SMEs) have been urged to embrace blockchain technology-driven supply chain financing (BcTSCF) by the Ghana Enterprises Agency (GEA) and the Association of Ghana Industries (AGI); however, a substantial number have not responded favourably. With the utilization of purposive non-probability sampling approach, data was collected using questionnaires from 39 respondents (owners/managers of SMEs with BcTSCF experience as well as academics with BcTSCF expertise). Adopting the Technology-Organization-Environment framework, a list of drawbacks has been prioritized using a novel multi-criteria decision-making method called the Picture Fuzzy Preference Selection Index. This method involved the computation of total preference values, creation of picture fuzzy decision matrix, ranking and the selection of the drawback with the highest value, thus the prioritization of a set of determinants serving as drawbacks to adopting BcTSCF. The top five drawbacks to BcTSCF adoption are the availability of blockchain infrastructure, inadequate regulatory framework, lack of technical expertise, compatibility concerns, and insufficient government support. This study provides valuable input to industry practitioners, which might help the government and other stakeholders make corresponding policy arrangements. The original contribution of this study is the utilization of a novel picture fuzzy preference selection and the TOE framework to prioritize BcTSCF drawbacks.