Blockchain adoption: A study of cognitive factors underpinning decision making

• Published in: Computers in human behavior 2022-06, Vol.131, p.107207, Article 107207
• Main Authors: Marikyan, Davit, Papagiannidis, Savvas, Rana, Omer F., Ranjan, Rajiv
• Format: Article
• Language: English
• Subjects: Blockchain; Cost analysis; Cryptography; Decision making; Protection motivation theory; Technology adoption; Technology utilization; User behavior
• ISSN: 0747-5632; 1873-7692
• DOI: 10.1016/j.chb.2022.107207

The literature so far has been focused on technological sophistication rather than the aspects of blockchain adoption that can hinder or facilitate the use of the technology. To address this gap this paper aims to study the cognitive factors underpinning adoption decision-making moderated by user characteristics. Using a cross-sectional research design, the study recruited 506 respondents to participate and test the relationships hypothesised in the research model. The results of the analysis demonstrated that perceived threat vulnerability, response cost, response efficacy and self-efficacy determine adoption intention. These factors have varying effects on intention depending on users' subjective knowledge, objective knowledge and innovativeness. This evidence contributes to the understanding of users’ perspectives on blockchain adoption, which has been under-researched so far. The findings shed light on the cognitive factors motivating blockchain-based technology use and the individual characteristics of users who are likely to adopt the technology in the context of data privacy and security. In turn, these findings can inform practitioners about the aspects of user behaviour that should be considered while developing and marketing the technology. •The study provides an individual's perspective on blockchain-enabled technologies.•The study explores cognitive factors underpinning adoption decision-making.•Perceived threat and coping appraisal induce intention to use blockchain-enabled services.