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An Integrated Adoption Model to Manage Blockchain-Driven Business Innovation in a Sustainable Way

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  • Nusi Drljevic

    (Department of Business and Economics, University of Granada, 18071 Granada, Spain)

  • Daniel Arias Aranda

    (Department of Business and Economics, University of Granada, 18071 Granada, Spain)

  • Vladimir Stantchev

    (Institute of Information Systems, SRH University Berlin, 10587 Berlin, Germany)

Abstract

Blockchain technology has the potential to drive innovations across various industries, businesses, and use cases. It is broadly recognized that innovation is a vital source of competitive advantage in a rapidly changing environment. High expectations surround blockchain’s potential for contributing to sustainable economic and social development. However, current blockchain projects still show high failure rates. The associated side effects of such failure rates generate a negative impact on economic and social sustainability performances such as corporate governance, risk management, finance management, human resources and culture management, and competitiveness. This paper assesses adoption models and their risk and success factors. Building on a novel, integrated adoption model to operationalize, measure and manage blockchain-driven business innovation in a sustainable way, we assessed its applicability with an empirical study across 20 industry sectors and 125 business leaders. The results reveal that the developed adoption model holds the potential to support the sustainable usage of blockchain technology for business innovations, not limited to a specific industry or use case. Further case studies and industry activities can be carried out to continue its validation in future works.

Suggested Citation

  • Nusi Drljevic & Daniel Arias Aranda & Vladimir Stantchev, 2022. "An Integrated Adoption Model to Manage Blockchain-Driven Business Innovation in a Sustainable Way," Sustainability, MDPI, vol. 14(5), pages 1-21, March.
    • Handle: RePEc:gam:jsusta:v:14:y:2022:i:5:p:2873-:d:762005
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    References listed on IDEAS

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    5. Balci, Gökcay & Surucu-Balci, Ebru, 2021. "Blockchain adoption in the maritime supply chain: Examining barriers and salient stakeholders in containerized international trade," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 156(C).
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    Cited by:

    1. Magdalena Roszczyńska-Kurasińska & Nina Wróblewska, 2023. "Technological Innovations for Citizen Environmental Participation: Case of Poland," Sustainability, MDPI, vol. 15(6), pages 1-19, March.
    2. Shafaq Khan & Mohammed Shael & Munir Majdalawieh & Nishara Nizamuddin & Mathew Nicho, 2022. "Blockchain for Governments: The Case of the Dubai Government," Sustainability, MDPI, vol. 14(11), pages 1-22, May.

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