Understanding the Determinants of Blockchain Adoption in the Engineering-Construction Industry: Multi-Stakeholders' Analyses

Abstract

Blockchain technology is promising toward transforming conventional construction practices to improve collaboration and integration management in engineering-construction projects. The factors affecting the adoption of blockchain technology from the different stakeholder perspectives, however, have not been thoroughly investigated. Following the theory of planned behavior (TPB) and regulatory focus theory (RFT), this study explores the formation mechanisms underlying blockchain adoption from a multi-stakeholder perspective. The model was tested through partial least squares-structural equation modeling (PLS-SEM) and the fuzzy-set qualitative comparative analysis (fsQCA) method using data collected from Chinese construction practitioners. PLS-SEM results indicate that institutional pressures, perceived functional benefits, and behavioral control can directly drive blockchain adoption. Although perceived symbolic benefits do not directly affect blockchain adoption, their indirect effects on adoption are fully mediated by adoption intention. The PLS multi-group analysis found multiple path differences among stakeholders. The fsQCA results show that no single factor or its negation is the necessary condition to trigger blockchain adoption. The configuration analysis results show four new configurations that trigger the adoption of blockchain technology by owners, contractors, and consultants. This first multi-stakeholders research in the field of technology adoption contributes to the explanatory context of TPB and provides new insights into the effective blockchain technology adoption via the identified configurations that suit the project stakeholders.