Of the nine smes our study identified that three

This preview shows page 20 - 22 out of 35 pages.

Of the nine SMEs, our study identified that three adopted blockchain, but the other six did not. In comparison to the larger organizations who had adopted multiple instances of blockchain and who were actively trialing other applications, these SMEs had adopted single instances of blockchain applications. While the interviewees in these SMEs identified various reasons for adopting blockchain, there was a consensus that their organizations had primarily made the decision to adopt for the new innovative functionality that blockchain technology could provide, as evidenced by the following: For me blockchain is all about identity management and protection. Our blockchain product enables citizens to transform their physical identities into virtual ones that are wrapped around smart contracts. Blockchain will enable citizens to forge self-sovereign identities. (A9) [ ] we also created a secure cryptocurrency payment wallet, underpinned by blockchain technology, to enable our customers to pay us in bitcoin. We are only one of a handful of companies here in Ireland to do so. (A8) Specific technological and business use case issues were outlined by interviewees from two non-adopting SMEs: We are looking at blockchain as a means of adding a further layer of security for protecting transactional data within our SaaS CRM. However, the only use cases for businesses our size are 1476 IMDS 119,7
only to be found in large corporations. Our clients are still trying to get their heads around cloud computing. Blockchain is adding to the confusion and therefore we are resistant to make the move now. (A13) We have created a cloud-based data market platform where fish farmers can manage their farms and share data. We are interested in underpinning this platform with blockchain technologies to digitize farming stock such as oysters. The farmers will then have a transparent method of stock management. However, we will not adopt blockchain until (i) specific technological issues (e.g. scaling, tokenization, securitization) are resolved and (ii) smart contracts which are specific to the fishing industry have reached maturity. (A16) Based on the findings presented here, we can conclude that organizational size is generally positively related to blockchain adoption. Considering the number of blockchain instances adopted and the prevalence of ongoing blockchain research and development activities, our data suggest that large enterprises are more likely to adopt blockchain than SMEs. 4.3.4 Organizational readiness . For the purposes of this study, organizational readiness with regards to adopting new IT innovations was examined in terms of three categories of organizational resources which encompassed the availability of employees with the requisite IT knowledge and skills; financial resources for adopting IT innovations (e.g. IT budget) and infrastructure on which blockchain applications can be built. According to existing research (Lacovou et al. , 1995; Wang et al. , 2010), the absence of one or more of these resources is likely to constrain an organization s ability to adopt an IT innovation.

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture