The intention of adopting blockchain technology in supply chains - evidence from Viet Nam SMES

Abstract

Blockchain technology is acknowledged as an innovative breakthrough that enhances transparency, efficiency, and trust within supply chain management. However, its adoption among Small and Medium Enterprises (SMEs) in Vietnam remains limited due to various barriers, such as organizational preparedness, financial constraints, and technological challenges. This research utilizes the Technology-Organization-Environment (TOE) framework to examine key factors that influence SMEs' willingness to integrate blockchain into their supply chain operations. Data was gathered through online surveys targeting SMEs, students, and professionals in Ho Chi Minh City. To ensure the research model’s validity and reliability, SmartPLS software was employed, and the Partial Least Squares Structural Equation Modeling (PLS-SEM) method was applied. The findings introduce a framework that identifies key determinants influencing blockchain adoption intentions, including relative advantage, organizational readiness, and cost-performance dynamics. Additionally, competitive pressure and perceived benefits are highlighted as major drivers of adoption, while regulatory support and top management involvement show minimal influence. This research provides actionable recommendations for decision-makers to address cost barriers and enhance organizational preparedness for blockchain integration in SMEs. It also contributes to the theoretical understanding of technology adoption in Vietnam’s supply chain sector. Lastly, future research directions are suggested to further explore contextual factors and develop strategies for optimizing blockchain adoption, offering valuable insights for policymakers, researchers, and business leaders