FACTORS AFFECTING THE ORGANIZATIONAL ADOPTION OF BLOCKCHAIN TECHNOLOGY EXTENDING THE TECHNOLOGY ORGANIZATION-ENVIRONMENT (TOE) FRAMEWORK IN THE PAKISTANI CONTEXT

Abstract

Purpose: Blockchain technology (BCT) has been gaining popularity due to its benefits in almost every industry. However, despite its benefits, the organizational adoption of BCT is rather limited. This lack of uptake motivated us to identify the factors that influence the adoption ofBCT from an organizational perspective. Methodology & Design: In this study we have used deductive approach. If a generic methodology is used, correct conclusions and outcomes can be derived from widely held theories. Explanatory study is a method for examining the relationship between independent and dependent variables using a theoretical framework. When looking into some concerns that have already been tested and more information is needed, an explanatory study is the best option. The current study, on the other hand, is an explanatory. Research design aids in the decision-making process for data collection, analysis, and explanation to solve problems. It can be thought of as a research approach, sample size and technique, data collection tools and techniques and data analysis to answer all questions and test research hypotheses. Quantitative research, on the other hand, is concerned with determining the causal relationship between variables in response to a circumstance that can be quantified using statistical expressions. The current study may readily be classified as quantitative research because it is based on gathering data and inferring conclusions based on the information obtained. We are using Non-experimental design. The causal design examines the relationship between the variables. Causal research, also known as explanatory research, is used to determine the nature and extent of cause-and-effect correlations between variables. The goal of a causal research on a given subject is to determine how the variables are related. The causal research design is chosen because it is better relevant for the current research project. Findings: The BCT is a significant innovation that could carry a few key and functional benefits to associations. Nonetheless, its reception among associations has not arrived at a critical level remembering for Pakistan. To analyze this absence of take-up, this study intended to find the variables affecting the reception of BCT among Pakistani associations. By following a quantitative methodology, this study proposed and affirmed a drawn-out TOE structure. Rather than the previous examinations on the hierarchical reception of BCT that lay out a straight connection between persuasive elements and an association's aim to embrace BCT, this study presented a directing variable Limitation: The timeline to finish this research is very limited and it requires a lot of time to collect data from the executives of the IT related companies and it is very difficult to engage new people into BCT who have a limited knowledge of it. The sample size was also limited to the tech base companies it can be further extended with the time it required Recommendations: The companies which are interested in using block chain as a new way of transaction mapping and managing records oftransaction will promote the use of BCT. In Pakistan it is more likely to see that BCT will grow its market here and will be handier in future, the environmental factor will help the BCT, and the technological factor and organizational factor will also help the adoption ofBCT in Pakistan.