Essays on Blockchain Technology

Abstract

This dissertation consists of two essays on blockchain technology adoption and application. The first essay empirically examines the factors affecting the adoption of cryptocurrency at the individual level using the theoretical lenses of the Theory of Technological, Personal, and Environmental factors and Diffusion of Innovation Theory. The existing literature emphasizes the need for broader adoption by individuals. Therefore, in this large-scale, theory-driven study, I investigate the factors influencing the intention to adopt cryptocurrencies at an individual level. The findings show that the main technological factors impacting the intention to adopt cryptocurrency are complexity, perceived benefits, and trialability. The main personal factors are compatibility, individual risk propensity, and trust. Finally, it reveals the role of positive market sentiments as the main environmental factor. The second essay uses the Dynamic Capabilities View as a theoretical lens to empirically investigate the impact of blockchain technology usage on a firm’s resilience to supply chain disruptions and operational performance. Witnessing the negative impacts of disruptions such as COVID-19 on supply chain performance, this research addresses this gap. While prior studies present blockchain chain technology as a potential solution a firm can use to enhance resilience, not one study has shed light on how blockchain usage can impact firms' resilience and operational performance. The findings provide empirical evidence of the relationship between blockchain technology usage and supply chain capabilities. Second, it also provides empirical evidence of the indirect relationship between blockchain technology usage and a firm's resilience and operational performance in the face of environmental uncertainty.