Impact of institutional pressures and security on blockchain technology adoption and organization performance: an empirical study

Analyzing the adoption of Blockchain technology (BCT) in the supply chain becomes crucial considering its inter-organizational nature. The nodal center of power (generally the leading firm in any supply chain) pressures the other members to adopt the technology. This study investigates the impact of external pressures, such as coercive, mimetic, and normative pressures, combined with security measures, on adopting BCT and its subsequent influence on organizations' cost performance. To achieve this, a questionnaire based on isomorphism theory and security is developed, and data is collected from 222 supply chain professionals. The collected data was then analyzed using a structural equation model to test the proposed hypotheses. The findings reveal that coercive pressure and security measures significantly influence the adoption of BCT, which in turn has a positive effect on organizational performance. This study provides a fresh perspective for practitioners and technology providers by shedding light on the external pressures that can shape the adoption of blockchain technology in a firm and its supply chain.