Exploring SME Intentions Toward Blockchain-Secured Marketplaces: A Grounded Theory Approach

This study investigates how Small and Medium Enterprises (SMEs) in Biringkanaya District perceive and intend to adopt blockchain secured marketplace platforms for their digital commercial activities. Using a grounded theory methodology, in depth interviews were conducted with ten SME proprietors to explore their motivations, perceptions, and concerns regarding the implementation of blockchain technology within marketplace ecosystems. The analysis identified four principal categories: navigating digital transformation challenges, trust and security expectations, perceived benefits of blockchain integration, and barriers to blockchain adoption. The emergent core category, seeking secure digital commerce pathways, encapsulates how SME owners aspire to strengthen the safety of their transactions while simultaneously confronting technological, financial, and knowledge related constraints. The findings indicate that blockchain is generally perceived as a promising tool to enhance data integrity, transparency, and protection against fraud, yet its adoption is hindered by limited understanding, perceived complexity, and uncertainty about costs and institutional support. This research addresses a gap in the existing literature on blockchain adoption among SMEs in developing market contexts and offers practical implications for marketplace platform designers, technology providers, and policymakers seeking to promote inclusive and secure digital transformation for SMEs.