Blockchain Adoption among Multi-Stakeholders under Government Subsidy: From the Technology Diffusion Perspective

Despite the well-documented benefits and encouraging policy environment for blockchain technology (BT), its extensive adoption in the construction industry is still unsolved. The interorganizational diffusion of BT is not explored in existing studies, requiring a comprehensive investigation for better government policymaking. Thus, from the technology diffusion perspective, this paper proposes an evolutionary game-based system dynamics (EG-SD) model to describe the complicated relationships between government and construction enterprises in the process of BT adoption. Through theoretical analysis, the main stakeholders, influencing factors, and diffusion channels in the process of BT adoption are identified. Further, a simulation collecting data from China's construction industry is conducted to evaluate the diffusion performance under different scenarios. This study contributes to the body of knowledge by providing a quantitative perspective for understanding BT adoption behaviors among construction enterprises and revealing the diffusion mechanism of BT from a multilevel perspective. Also, this paper for the first time combines evolutionary game theory with system dynamics into explaining BT adoption, providing practical implications to both government and construction enterprises on policymaking and promoting BT adoption practices.