Barriers to blockchain technology adoption in supply chains: the case of India

Abstract

AbstractIn the era of digitalization, Blockchain is an evolving technology that has the potential to change the shape of numerous industries. Blockchain is considered the transforming technology that has the ability to change the conventional supply chain network by providing additional transparency of transactions in terms of information and physical goods. Additionally, the implementation of blockchain technology in the supply chain is required to accomplish the objectives of industry 4.0. However, there has to date been a scarcity of blockchain implementations due to the numerous barriers associated with it. Therefore, the primary aim of this research is to identify and investigate the major barriers to implementing blockchain technology in supply chains. We identified ten significant barriers to adopting blockchain technology through a literature review and expert opinions. Additionally, the finalized barriers were categorized into an influential and influenced group using the DEMATEL method. The findings of this study show that 'influential group' barriers require more attention from the supply chain partners to mitigate these barriers. The primary influential barriers are 'Lack of information sharing,' 'Trust management issues,' and 'Lack of upgraded technologies’, and these barriers require immediate attention from supply chain stakeholders wishing to use blockchain. These findings contribute to improving managerial decisions and digital strategies regarding blockchain within organisations, and how implementation can effectively be achieved.