Adoption of blockchain technology in organizations: from morality, ethics and sustainability perspectives

Abstract

Purpose The purpose of this study is to examine how the adoption of blockchain technology can improve organizational sustainability and what are the contributions of morality, ethics and governance in this scenario. Design/methodology/approach This study has used different literature and theories to build a successful theoretical model and then validated it using the partial least squares structural equation modeling approach. Various statistical modeling analyses have been performed to test the robustness of the proposed model, which is found to be effective and unique as it has a high explanatory power. Findings This study has found that adoption of blockchain technology can improve the sustainability performance of organizations. It has also highlighted that organizational sustainability will be further enhanced if the underlying algorithms of blockchain technology are transparent to make the applications moral and ethical. This study has further demonstrated that appropriate governance of blockchain technology can support the organizations to enhance their sustainability performance. Research limitations/implications This study demonstrates the importance of an organization’s governance over blockchain technology and its impact on sustainability. The study provides valuable input to practitioners and policy makers regarding blockchain technology and its governance models. Also, the study provides valuable recommendations to leaders and managers of organizations on how to successfully adopt blockchain technology. Originality/value This study presents a unique theoretical model to explain the influence of the adoption of blockchain technology and an organization’s sustainability. The study also adds value to the overall body of literature in the areas of ethics, governance and blockchain technology along with sustainability.