Research Papers

Abstract

The initial excitement and low adoption of blockchain technology in the Financial Services industry provide insights into how the technological features of distributed ledger can be applied to organizations within an interconnected industry. This study uses grounded theory methodology to provide context and practical considerations into how multiple firms in connected industries can evaluate an “industry technology” that could change the ecosystem in which they operate. The study validates common technological, organizational, and environmental factors of adoption and introduces new factors such as networking and internet-like technology characteristics, industry interconnectedness, inter-organizational use cases, and consortiums to explain how firms are adapting to the transformational characteristics of blockchain technology.

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