Factors Affecting Blockchain Adoption in the Intellectual Property Transaction

Challenges such as information opacity, information security concerns, and the high costs associated with intellectual property transactions can impede their smooth progression. Blockchain technology offers innovative solutions to these issues, presenting new avenues for conducting intellectual property transactions. Despite its potential, the integration of blockchain in intellectual property transactions remains limited. To elucidate the factors influencing the adoption of blockchain in this context, this study constructs a research model grounded in the Technology-Organization-Environment (TOE) framework. Employing Structural Equation Modeling (SEM) and Fuzzy-Set Qualitative Comparative Analysis (fsQCA), we conducted an empirical analysis based on 456 online survey responses. The SEM findings indicate that relative technological advantage, managerial support, organizational readiness, regulatory support, and competitive pressure exert positive influences on the adoption of blockchain technology in intellectual property transactions, while complexity has a detrimental effect. Additionally, relative advantage and regulatory support were identified as significant indirect forces affecting blockchain adoption. The fsQCA uncovered two pathways for advancing blockchain adoption: one driven by organizational factors and predominantly influenced by technology and environmental considerations, and another steered by organizational dynamics within a technology-environment context. This study contributes to the literature by enhancing the understanding of blockchain adoption through the lenses of TOE theory and innovation diffusion theory. It also provides actionable insights for intellectual property trading enterprises on the strategic adoption of blockchain technology.