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Blockchain Readiness: Expert Perspectives From a Developing Economy
Abstract
Blockchain technology is an emerging innovation, and it is viewed as a better approach to help the necessities of people and institutions in terms of record management. Using the Delphi technique and the PERM model, this chapter seeks to present the perspectives of experts in the field of blockchain on the readiness of the institutions in developing economies to adopt and implement it. The findings suggest that the understanding of the technology, knowledge on how to use it, availability of skilled personnel, availability of technical components, risk, capital, management support, business process, policies and regulations, and government initiatives on technology are key influencing factors assessing the readiness to adopt blockchain in a developing economy. It is expected that these findings will enlighten practitioners on the prospects of the application of blockchain in all sectors. The originality of this study lies in the fact that it is a maiden exploratory study that examines the factors that influence the readiness to adopt and implement blockchain technology in a developing economy.
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