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Modeling Cost Saving and Innovativeness for Blockchain Technology Adoption by Energy Management

Author

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  • Nazir Ullah

    (School of Management and Engineering, Department of Management Science and Engineering, Nanjing University, Nanjing 210093, China)

  • Waleed S. Alnumay

    (Computer Science Department, King Saud University, Riyadh 11437, Saudi Arabia)

  • Waleed Mugahed Al-Rahmi

    (Faculty of Social Sciences and Humanities, School of Education, Universiti Teknologi Malaysia, Johor Bahru 81310, Malaysia)

  • Ahmed Ibrahim Alzahrani

    (Computer Science Department, King Saud University, Riyadh 11437, Saudi Arabia)

  • Hosam Al-Samarraie

    (School of Media and Performing Arts, Coventry University, Coventry CV1 5FB, UK)

Abstract

In developed nations, the advent of distributed ledger technology is emerging as a new instrument for improving the traditional system in developing nations. Indeed, adopting blockchain technology is a necessary condition for the coming future of organizations. The distributed ledger technology provides better transparency and visibility. This study investigated the features that may influence the behavioral intention of energy experts to implement the distributed ledger technology for the energy management of developing countries. The proposed model is based on the Technology Acceptance Model construct and the diffusion of the innovation construct. Based on a survey of 178 experts working in the energy sector, the proposed model was tested using structural equation modeling. The findings showed that perceived ease of use, perceived usefulness, attitude, and cost saving had a positive and significant impact during the blockchain technology adoption. However, innovativeness showed a positive effect on the perceived ease of use whereas an insignificant impact on the perceived usefulness. The present study offers a holistic model for the implementation of innovative technologies. For the developers, it suggest rising disruptive technology solutions.

Suggested Citation

  • Nazir Ullah & Waleed S. Alnumay & Waleed Mugahed Al-Rahmi & Ahmed Ibrahim Alzahrani & Hosam Al-Samarraie, 2020. "Modeling Cost Saving and Innovativeness for Blockchain Technology Adoption by Energy Management," Energies, MDPI, vol. 13(18), pages 1-22, September.
    • Handle: RePEc:gam:jeners:v:13:y:2020:i:18:p:4783-:d:413153
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    6. Ammar AL-Ashmori & Gunasekar Thangarasu & P. D. D. Dominic & Al-Baraa Abdulrahman Al-Mekhlafi, 2023. "A Readiness Model and Factors Influencing Blockchain Adoption in Malaysia’s Software Sector: A Survey Study," Sustainability, MDPI, vol. 15(16), pages 1-28, August.
    7. Ammar AL-Ashmori & Shuib Bin Basri & P. D. D. Dominic & Luiz Fernando Capretz & Amgad Muneer & Abdullateef Oluwagbemiga Balogun & Abdul Rehman Gilal & Rao Faizan Ali, 2022. "Classifications of Sustainable Factors in Blockchain Adoption: A Literature Review and Bibliometric Analysis," Sustainability, MDPI, vol. 14(9), pages 1-30, April.
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