{"title":"Exploring the barriers and organizational values of blockchain adoption in the banking industry","authors":"Tahereh Saheb , Faranak Hosseinpouli Mamaghani","doi":"10.1016/j.hitech.2021.100417","DOIUrl":null,"url":null,"abstract":"<div><h3>Purpose</h3><p>This study intends to extend the literature on IT business value by unveiling the organizational values and hindrances of blockchain adoption in the banking industry.</p></div><div><h3>Design</h3><p>The study incorporated a mixed-method qualitative analysis composed of semi-structured interviews (15 experts), a two-panels Delphi study (26 & 20 experts), and a systematic literature review of 35 papers about blockchain adoption. In total, 65 experts from Europe, Asia, and the Middle East working in the banking industry participated in our study.</p></div><div><h3>Findings</h3><p>The Delphi study ended up in a list of 25 organizational values and 20 barriers. The values were classified into four main categories: business, strategy, operation, and knowledge management, while the barriers were classified into three main categories: technological, organizational, and environmental. The study shows that the most critical organizational values of blockchain in the banking industry are related to business operations. It will increase the transparency, traceability, and trustworthiness of business processes. The least essential organizational values of blockchain are related to the business strategy domain: flexible business models, the flexibility of compliance to regulations, and certain ROI. The study shows that the most critical barriers to extracting value from blockchain in the industry are organizational and environmental, lack of understanding by top managers, compliance and regulatory requirements, and marketing noise.</p></div><div><h3>Value</h3><p>Theoretically, this study will extend the literature on blockchain business value, and practically it can provide insights for managers regarding mechanisms to maximize value from the blockchain. We recommended some future studies as well.</p></div>","PeriodicalId":38944,"journal":{"name":"Journal of High Technology Management Research","volume":"32 2","pages":"Article 100417"},"PeriodicalIF":0.0000,"publicationDate":"2021-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.hitech.2021.100417","citationCount":"24","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of High Technology Management Research","FirstCategoryId":"1085","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1047831021000171","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"Business, Management and Accounting","Score":null,"Total":0}
引用次数: 24
Abstract
Purpose
This study intends to extend the literature on IT business value by unveiling the organizational values and hindrances of blockchain adoption in the banking industry.
Design
The study incorporated a mixed-method qualitative analysis composed of semi-structured interviews (15 experts), a two-panels Delphi study (26 & 20 experts), and a systematic literature review of 35 papers about blockchain adoption. In total, 65 experts from Europe, Asia, and the Middle East working in the banking industry participated in our study.
Findings
The Delphi study ended up in a list of 25 organizational values and 20 barriers. The values were classified into four main categories: business, strategy, operation, and knowledge management, while the barriers were classified into three main categories: technological, organizational, and environmental. The study shows that the most critical organizational values of blockchain in the banking industry are related to business operations. It will increase the transparency, traceability, and trustworthiness of business processes. The least essential organizational values of blockchain are related to the business strategy domain: flexible business models, the flexibility of compliance to regulations, and certain ROI. The study shows that the most critical barriers to extracting value from blockchain in the industry are organizational and environmental, lack of understanding by top managers, compliance and regulatory requirements, and marketing noise.
Value
Theoretically, this study will extend the literature on blockchain business value, and practically it can provide insights for managers regarding mechanisms to maximize value from the blockchain. We recommended some future studies as well.
期刊介绍：
The Journal of High Technology Management Research promotes interdisciplinary research regarding the special problems and opportunities related to the management of emerging technologies. It advances the theoretical base of knowledge available to both academicians and practitioners in studying the management of technological products, services, and companies. The Journal is intended as an outlet for individuals conducting research on high technology management at both a micro and macro level of analysis.
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