The mediator and moderator roles of perceived cost on the relationship between organizational readiness and the intention to adopt blockchain technology

Blockchain is a disruptive technology that is expected to revolutionize the world of trusted transactions. Through a combination of cryptographic techniques, a distributed, shared, and immutable ledger, consensus validation of transactions, and a financial audit trail, blockchain is poised to do for businesses what the Internet did for communication. With its promise of reducing cost, time, friction, and fraud in business transactions and ensuring trust, identity management, and reputation management, companies around the world are now contemplating their transition to blockchain versions of themselves. However, the cost of implementing such technology and its effect on the readiness of the organization to adopt blockchain has not been fully explored yet. This study examines the mediation and moderation roles of the perceived cost on the relationship between organization readiness and the intention to adopt blockchain. Data was collected from blockchain experts and Partial least squares structural equation modeling (PLS-SEM) was used as the analytical tool to test all of the framework hypotheses. To investigate the potential managerial implications of this topic, Importance-Performance Map Analysis (IPMA) was utilized. The findings reveal that perceived cost is not a mediator; rather, it moderates the relationship between the TRI (Technology Readiness Index) enablers and the TRI inhibitors with the intention to adopt blockchain. In terms of importance, the empirical data analysis through IPMA revealed that the enablers construct is the most important factor, while perceived cost has the highest performance on the intention to adopt blockchain. With this discovery, our findings are expected to aid decision-makers in prioritizing and improving the enabling aspects required for the successful adoption of blockchain technology.

Automated summary

Blockchain, as a disruptive technology, promises to revolutionize trusted transactions by reducing costs, time, friction, and fraud, and ensuring trust and identity management in business dealings. The study found that the perceived cost does not mediate but moderates the relationship between organizational readiness and the intention to adopt blockchain technology, with the highest performance impact on the intention to adopt blockchain.