The adoption of blockchain technology in corporations

Abstract

In this thesis I have sought to shed a light on the adoption of blockchain technology in corporations. The results presented highlights the benefits and reflects on the challenges regarding adoption of blockchain technology. As a result, this study aims to expand the understanding of the adoption of this technology. While being narrow in scope, the research may provide suitable framework for future studies surrounding blockchain adoption. The foundation of the research is based on the established theoretical framework of the Technology Adoption Model with further extensions from the Theory of Reasoned Action and Theory of Planned Behavior. Furthermore, I have made use of The Adoption Process and Decision Theory to substantiate my findings. This thesis may help corporations see how blockchain technology can be utilized, and how to facilitate this type of adoption. The evidence from corporate disclosures indicates that blockchain is still at the early stages of adoption. The findings from this analysis also shows that the adoption of blockchain technology may differ on a country-by-country basis. With that said, the study helps get a better understanding of how corporations can benefit and adopt the technology. It goes to show, that easy-to-use implementation and education is needed to gain further trust in the future of technology. Stablecoins and other specific use cases may ease the complexity surrounding adoption of blockchain. This study points out that regulatory clarity is needed for corporations to take further steps towards mainstream adoption. This type of technology can create new areas of business and yield a competitive advantage for corporations. Corporations can use this study to gain insights and better understand the adoption process within blockchain technology.