Evolution or involution? A systematic literature review of organisations' blockchain adoption factors

Abstract

To understand the slow adoption of blockchain technology by organisations, we conduct a systematic literature review of adoption factors using a mixed-methods approach. Using thematic analysis, 880 factors are identified and grouped into 29 themes, which offer a comprehensive overview of the literature. Using statistical analysis, the identified factors are dissected into technological (T), organisational (O), and environmental (E) dimensions (the TOE framework). Themes are further classified as barriers (B), enablers (En), and ambiguous (A) to describe a firm's readiness for blockchain adoption (the BEnA framework). We emphasise the multidimensionality of adoption factors across the TOE dimensions and the conditionality of adoption enablers across the BEnA dimensions. Analysis of research trends shows that recent blockchain adoption literature has focused on elaborating upon existing research themes (involution) rather than on developing new themes (evolution). Based on our analyses, we propose future research directions, including scrutinising the interdependence and multidimensionality of blockchain adoption factors, further examining factors with conditional or unclear effects on adoption, and broadening the contextual, temporal, and theoretical aspects of blockchain adoption research.