A hierarchical structure model for blockchain technology adoption

Although blockchain technology (BT), with the characteristics of decentralisation, autonomy, and anonymity, shows significant promise in increasing operational efficiency and transparency, the diffusion of BT remains slow. To address this dilemma, we investigate the hierarchical structure among various determinants of BT adoption based on the technology-organisation-environment (TOE) model and the diffusion of innovation theory (DOI). We employ an integrated approach, sequentially including the decision-making trial and evaluation laboratory (DEMATEL) technique, the maximum mean de-entropy (MMDE) technique, and the interpretive structural modelling (ISM) approach. The empirical results from 17 BT practitioners and scholars reveal that complexity, compatibility, competitive pressure, and government support are four basic factors to constitute a hierarchical structure. In contrast, the relative advantage is the only factor in the second layer, followed by organisational readiness and top management support in the first layer. We contribute to BT adoption literature by presenting a new hierarchical structure of different determinants.