Blockchain implementation in the maritime industry: critical success factors and strategy formulation

【Author】 Li, Xue; Zhou, Yusheng; Yuen, Kum Fai

【Source】MARITIME POLICY & MANAGEMENT

【影响因子】3.167

【Abstract】It is critical to identify ways to successfully implement blockchain which can transform the operations of shipping companies in the coming years. In this light, this study aims to explore the critical success factors (CSFs) of blockchain implementation using a comprehensive theory-driven approach, which is largely ignored by previous studies. The theoretical model is grounded on the synthesis of diffusion of innovation, resource-based view, institutional theory, stakeholder theory and technology-organization-environment framework. Correspondingly, five main-criteria and seventeen sub-criteria are identified. Fuzzy analytic hierarchy process is applied to rank the CSFs based on the feedback from experienced managers and directors working in maritime shipping companies. The findings show that in descending order of importance, the top five sub-criteria of blockchain implementation are relative advantage, internal leadership, human resources capability, scalability and ease of use. This study has provided a novel theoretical framework for blockchain CSFs research, offered strategy formulation in relation to marketing, technological skills upgrade, investments and subsidization, and knowledge cluster sharing to support blockchain implementation in the maritime industry.

【Keywords】Blockchain; maritime industry; critical success factors; TOE framework; diffusion of innovation; resource-based view; institutional theory; stakeholder theory

【发表时间】

【收录时间】2022-10-17

【文献类型】理论模型

【主题类别】

区块链应用-实体经济-航运领域