Evaluation of factors affecting the decision to adopt blockchain technology: A logistics company case study using Fuzzy DEMATEL

Blockchain practices have been attracting attention in industries other than financial services, since blockchain is not only an information technology, but also an institutional technology owing to its new currency economics and distributed structures. Today, supply chains, power, and food/agricult...

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Bibliographic Details
Published in:Journal of intelligent & fuzzy systems 2020-01, Vol.39 (5), p.6279-6291
Main Authors: Maden, Ayça, Alptekin, Emre
Format: Article
Language:English
Subjects:
Agricultural management
Agronomy
Authentication
Blockchain
Cryptography
Data integration
Decision making
Digital currencies
Distributed ledger
Evaluation
Finance
Fleet management
Logistics
Peer to peer computing
Social networks
Supply chains
Technology adoption
Technology utilization
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Summary:Blockchain practices have been attracting attention in industries other than financial services, since blockchain is not only an information technology, but also an institutional technology owing to its new currency economics and distributed structures. Today, supply chains, power, and food/agriculture have emerged as promising areas in terms of their potential to incorporate blockchain technology for improving processes and reducing costs. Logistics corporations, especially, have been concentrating on developing efficiency in integrated data, fleet management, and communication issues, to achieve cost advantages. Experts from a well-known logistics company in Turkey contributed to our study by helping to assess critical factors for successful blockchain technology implementation. Our research topic included determining whether blockchain technology is suitable for this company. Fuzzy decision-making trial and evaluation laboratory (DEMATEL) was used to determine and evaluate the critical factors to encourage blockchain technology adoption, based on the company’s requirements. For the company experts, the factors affecting the decision to adopt blockchain technology were, in order of priority: cryptocurrency, instant money transfer, privacy, real time processing, smart contract, security, authentication, transparency, immutability, traceability, distributed ledger, reduced delays, and peer-to-peer networks.
ISSN:1064-1246
1875-8967
DOI:10.3233/JIFS-189096