Adoption Process of Blockchain Technology in Small and Medium-sized Enterprises
2024 (English)Doctoral thesis, comprehensive summary (Other academic)
Abstract [en]
Background: In today’s rapidly evolving digital economy, the ability of Small and Medium-sized Enterprises (SMEs) to adopt emerging technologies is critical to their long-term sustainability, competitiveness, and capacity for innovation. SMEs, which account for a significant portion of global economic growth and employment, are particularly vulnerable to the disruptive forces of digital transformation. Unlike larger enterprises, they often operate with limited financial resources, reduced access to technical expertise, and a higher sensitivity to market fluctuations. These constraints pose substantial barriers to technology adoption, yet the need for SMEs to remain competitive in a digital-first world has never been more urgent. In particular, the adoption of advanced technologies, such as blockchain, holds tremendous potential to enhance operational efficiencies, streamline processes, and unlock new avenues for growth and innovation. Despite these benefits, many SMEs struggle to effectively integrate blockchain into their operations, lagging larger companies in leveraging this technology. Purpose: This research addresses the problem of blockchain adoption within SMEs, which is both a significant challenge and an untapped opportunity. While SMEs constitute 99% of European companies and play a pivotal role in driving innovation and employment across industries, their pace of adopting advanced technologies like blockchain remains notably slower compared to larger organizations. The discrepancy between SMEs' essential role in economic growth and their delayed adoption of cutting-edge technologies exposes deeper theoretical and empirical challenges that need to be understood and addressed. The study aims to provide actionable insights and strategies to empower SMEs in overcoming these barriers and successfully integrating blockchain into their operations. Method: To address these challenges, the study proposes the "Dynamic Technology Adoption Model for SMEs" (DTAM-SMEs), developed through four key stages of i) conducting a systematic literature review to capture the broad spectrum of technology adoption within SMEs, (ii) identifying key factors influencing the pre-adoption phase of blockchain, (iii) analysing the determinants impacting the implementation phase, and (iv) examining the dynamic interplay of environmental and technological factors that shape ongoing adoption processes. Findings: The DTAM-SMEs model offers both theoretical insights and practical contributions. It provides SMEs, policymakers, and business leaders with a strategic roadmap for successful blockchain adoption. By addressing specific barriers in the pre-adoption and implementation phases and considering the dynamic interplay of factors influencing adoption, the model aims to enhance operational efficiency, streamline processes, and drive long-term growth for SMEs.
Place, publisher, year, edition, pages
Halmstad: Halmstad University Press, 2024. , p. 129
Series
Halmstad University Dissertations ; 125
Keywords [en]
Blockchain adoption, SMEs, Technology adoption, Dynamic Technology Adoption Model (DTAM-SMEs), Innovation in SMEs, Adoption barriers
National Category
Economics and Business
Identifiers
URN: urn:nbn:se:hh:diva-55020ISBN: 978-91-89587-67-0 (print)ISBN: 978-91-89587-66-3 (electronic)OAI: oai:DiVA.org:hh-55020DiVA, id: diva2:1918344
Public defence
2025-01-16, S1022, Kristian IV:s väg 3, Halmstad, 09:15 (English)
Opponent
Supervisors
2024-12-062024-12-042024-12-09Bibliographically approved
List of papers