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Start Date

16-8-2018 12:00 AM

Description

Blockchain technology, the underpinning of Bitcoin, has been widely acknowledged as the technical innovation of the 21st century. But even after a decade since its inception, Bitcoin is still the only widely known and somewhat mainstream application of the technology. In this study, we conduct an inductive content analysis of archival data to identify 16 barriers inhibiting the mainstream adoption of the blockchain technology. The barriers to the adoption of a technology are not simply the opposites of the enablers. Thus, we advocate that an understanding of the barriers will aid in the recognition of the limitations of the current state of blockchain technology. The barriers identified can guide future work by academics and practitioners and help attain technical maturity.

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Aug 16th, 12:00 AM

Barriers to Adoption of Blockchain Technology

Blockchain technology, the underpinning of Bitcoin, has been widely acknowledged as the technical innovation of the 21st century. But even after a decade since its inception, Bitcoin is still the only widely known and somewhat mainstream application of the technology. In this study, we conduct an inductive content analysis of archival data to identify 16 barriers inhibiting the mainstream adoption of the blockchain technology. The barriers to the adoption of a technology are not simply the opposites of the enablers. Thus, we advocate that an understanding of the barriers will aid in the recognition of the limitations of the current state of blockchain technology. The barriers identified can guide future work by academics and practitioners and help attain technical maturity.