The Diffusion of Blockchain in SMEs: The Driving and Determining Factors for Blockchain Technology Adoption in SMEs

Abstract: Blockchain technology has in recent years gained significant momentum in a wide variety of industries. However, in the context of SMEs the IS body of research is lacking, both in terms of why SMEs should consider this new technology and the factors that affect a potential adop-tion. To explore this research gap, the authors derived a conceptual framework from the exist-ing literature along with elements from TOE-framework, DOI theory and TAM. Further, the authors explored these constructs along with experts from the field, through the use of four interviews. The driving factors for blockchain technology adoption in SMEs was shown to be related to the technological factor of relative advantage, while many organizational and envi-ronmental factors along with the technological factors of complexity and compatibility was shown to play an import role in affecting the adoption of blockchain for SMEs.