An Exploratory Study of the Adoption of Blockchain Technology Among Australian Organizations: A Theoretical Model

Scholarly and commercial literature indicates several applications of Blockchain Technology (BCT) in different industries e.g. health, finance, supply chain, government, and energy. Despite abundant benefits reported and growing prominence, BCT has been facing various challenges across the globe, including low adoption by organizations. There is a dearth of studies that examined the organizational adoption of blockchain technology, particularly in Australia. This lack of uptake provides the rationale to initiate this research to identify the factors influencing the Australian organizations to adopt BCT. To achieve this, we conducted a qualitative study based on the Technology, Organization, Environment (TOE) framework. The study proposes a theoretical model grounded on the findings of semi-structured interviews of blockchain experts in Australia. The proposed model shows that the organizational adoption of blockchain is influenced by perceived benefits, compatibility, and complexity, organization innovativeness, organizational learning capability, competitive intensity, government support, trading partner readiness, and standards uncertainty.