Ecosystem Readiness: Blockchain Adoption is Driven Externally

Blockchain technology has been extensively tested, implemented, used, or even abandoned by organizations. Whether organizations adopt blockchain depends on many factors. Previous literature identified a range of potential factors affecting the adoption technology, but most studies have focused solely subset specific As result, these can provide only limited explanations for varying degrees adoption. By relying well-established Technology-Organization-Environment (TOE) framework, we propose an extended Adoption Model (BAM). We derive rich set from current state research and business ecosystem extend them conceptual reasoning. then develop testable hypotheses each The resulting 14 are tested conducting survey ( n = 350) within DACH-region (Germany, Austria Switzerland). quantitatively analyze our BAM with binary logistic regression analysis identify six constructs impacting (relative advantage, observability, organizational age, external stakeholder pressure, regulatory uncertainty, scope ecosystem). Based findings introduce novel idea “ecosystem readiness” as important factor blockchain. Ecosystem readiness is characterized following attributes: 1) large scope, 2) stakeholders that not yet collaborating in trustful regulated environment, 3) powerful organization leading ecosystem. This further intentionally promotes innovation 4) making benefits this new observable others, 5) putting pressure other participants to eventually 6) striving certainty application use