Investigating the Factors Influencing the Adoption of Blockchain Technology across Different Countries and Industries: A Systematic Literature Review

Abstract

Despite the reported disruptive nature of blockchain technology in the extant literature, its adoption is slower than its potential. This difference between the technology’s promises and its current adoption has sparked interest in understanding the factors impeding widespread adoption. This systematic literature review (SLR), drawn from 1786 studies published between 2008 and May 2023, seeks to address this gap. Specifically, our research explores the influence of factors and their differences and commonalities on blockchain adoption. The SLR, examining individual and organisational perspectives, identifies 152 unique factors influencing 25 industries across 21 countries. This review also highlights distinct commonalities and variations in these factors across industries and countries. For instance, while regulatory issues and costs were universal concerns, the importance of technical understanding diverged between industries. Furthermore, country-specific factors, including local regulations and cultural aspects, emerged as significantly influenced insights that provide a comprehensive perspective on the dynamics of blockchain adoption, offering valuable guidance to industry practitioners and researchers striving to navigate the complexities of blockchain integration.