Blockchain Characteristics and Acceptance

Originally conceived as a mechanism to enable a trust-less cryptocurrency – Bitcoin, blockchain has since unbound itself from its original purpose as an increasing number of industries and stakeholders eye the technology as an attractive alternative to solve today’s complex business problems as well as disrupt mature industries. This dissertation explores the uses and application of blockchain in different domains and investigates empirically a theoretical model for its acceptance as the underlying technology for current and future information systems. The research is in three parts/essays: (1) a systematic literature review of blockchain technology to assess the body of research knowledge while also highlighting the major fields of study and areas of its application; (2) exploration of the relevant factors pertaining to blockchain-based information systems Acceptance in order to identify and develop their appropriate measurements; and (3)validation of a theoretical model from consumer decision making which includes trust, and risk but also includes important blockchain related antecedents in order to provide the needed insights for the blockchain consumer adoption/acceptance process. Findings suggest that the exploration of blockchain domains has only begun with Internet of Things, Energy, Finance, Healthcare, and Government as the most promising areas of implementation. Furthermore, perceived usefulness, risk, reputation, intention to transact, familiarity, comfortability, trust, perceived security as well as perceived privacy were identified as critical factors characterising blockchain, and measurements were developed, validated and modeled using a theoretical model. It was found that trust and perceived risk play a major role in driving consumer decisions regarding intention to transact. Furthermore, we find that perceived privacy protection, perceived security protection, reputation, and familiarity strongly influence consumer’s trust and perceived risk in blockchain technology