Determinants of consumers' adoption intention for blockchain technology in E-commerce

Abstract

Purpose

While blockchain is considered to have many unprecedented characteristics, and its application is recognized as another new opportunity for the development of e-commerce, there is limited evidence on the factors affecting the adoption of blockchain in the commercial e-commerce sector. This study aims to identify determinants influencing consumers' intention to adopt blockchain technology in e-commerce.

Design

/methodology/approachDrawing on the classic technology acceptance model (TAM), a conceptual framework is developed and empirically assessed to present the relationships between the core characteristics of blockchain and consumers' adoption intention. Survey data were collected from 228 users of the blockchain e-commerce system in China. The structural equation modeling (SEM) approach is used to test the hypotheses.

Findings

The results indicate that cost saving and traceability have a positive effect on perceived usefulness while insignificant associations are found between data privacy security and perceived usefulness, and perceived ease of use and consumers' adoption intention.

Research limitations/implications

The research only examined Chinese users, which may affect the generalizability of the findings. Future research is encouraged to conduct comparative studies beyond this region, e.g., emerging markets versus developed economies. It would also be useful to explore mediating and moderating effects of other new technologies that complement the application and adoption of blockchain.

Practical implications

The research results also bring managerial implications with the ways of attracting customers via blockchain technology, including improving system ability to reduce cost and enhance traceability.

Originality/value -

This paper is one of the early empirical endeavors that examines determinant factors affecting individual users towards the adoption of blockchain technology in e-commerce that is absent in the extant research. This study further contributes to the development of the knowledge bank of blockchain via the conceptual framework of its adoption under the e-commerce context, in particular considering its technical features.