FACTORS INFLUENCING INTENTION TO ADOPT BLOCKCHAIN TECHNOLOGY: CASE STUDY OF FINANCIAL SERVICES IN INDONESIA

• Main Author: Aulia Vitriastuti, Nadya
• Format: Final Project
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/41089
• Institution: Institut Teknologi Bandung

Rapid growth of Digital economy in Indonesia leads to many implementation of technologies. One of the emerging technology is Blockchain. Blockchain is a feature of peer to peer distributed ledger which have no central authority allowing people to trust each other in a form of trustworthy ledger. Blockchain possesses the potential to disrupt and reshape many industries including financial service. Financial service industry is said to be the early adopter and most potential industry to adopt blockchain technology. Meanwhile, the number of Indonesia’s financial service that utilize blockchain on their business is still limited. However, the real value of a technology can be realized when it is being adopted at a broader level. Thus, this study intends to discover what constitutes the drivers of Blockchain adoption on Indonesia’s financial services. The aims of this research are to explain what is the technological, organizational and environmental factors that influence on intention to adopt blockchain on their organization and to find out the relationship between the factors on technological, organizational and environmental context. A multiple case study and qualitative approach is used for this study. Semi structured interview was conducted to 10 top management of financial services technology based companies. Furtherly, coding method was used to analyze the results. The outcome for this study is that all the factors on the proposed model of TOE frameworks is confirmed. All the proposed factors are influencing towards intention to adopt blockchain technology with positive, negative and no influence. In addition, there are some additional factors from each context. Availability, maturity, and observability; hype and image are added to technological context. Business model readiness is added to organizational context. Lastly, no factors added to environmental context.