Trust and Traceability: Unpacking Technology Readiness in Blockchain Adoption for Supply Chain Management

Abstract

The development of blockchain-based innovations marks a paradigm shift within the realm of supply chain optimization, which offers a unitary solution to modern challenges linked with trust and traceability. The purpose of this research work is to assess how Technology Readiness constructs such as technological optimism, creativity, discomfort, and doubt can affect the integration of blockchain-based innovations within supply chains. A conceptual model based on Technology Readiness Index was designed and validated using a large-scale survey study among 300 members of the supply chain industry in India. The optimum level of response was achieved with 231 members providing necessary input for the study. The model assumptions were verified using structural equation modelling techniques. The results emphasize significance attributed to trust and traceability, which were found to be important elements of blockchain functionality. Indeed, these findings reinforce the need to overcome the psychological barriers associated with the implementation of new technologies like blockchain technology. These findings suggest that the relationships implied by the model hold true and establish that the propositions made at the conceptual level are robust. The study offers evidence to the existing body of knowledge pertaining to supply chain governance studies with regard to establishing an association between technological readiness and sustainable blockchain system adoption intention. It has been clear with these findings that cognitive ability and emotions were found to create equal impact on achieving operational advantages. These findings can greatly benefit policymakers and managers with insights on how to increase blockchain technologies' application processes with regard to supply chains. This study represents the first investigation of the Comprehensive Sequential Mediation model incorporating Technology Readiness, Trust, Traceability, and Sustainable Blockchain Adoption Intentions, accounting for 57% of variances a record-high level reported for blockchain studies related to supply chains.