Examining Customers’ Readiness to Adopt E-commerce Services Based on Blockchain

Abstract

E-commerce is a rapidly growing industry that stands to gain the most from emerging technologies. Online shopping and trading have become the preferred activities for customers and other stakeholders in the e-commerce value chain. The primary issues stakeholders face include trust, secure payments, transaction costs, and transparency in supply chains and financial transactions. Blockchain technology has the potential to solve all of these issues, providing a robust framework for a more secure and efficient e-commerce ecosystem. This research delves into the potential applications of blockchain in e-commerce and presents a new model of an e-commerce ecosystem based on blockchain. In addition, a survey was conducted to gauge customers’ readiness to adopt blockchain-based e-commerce services. The acceptance study used the UTAUT2 model, and data analysis was performed with SmartPLS. The study results suggest that blockchain significantly enhances consumer trust and satisfaction. Furthermore, the analysis revealed that the statistically significant variables affecting the adoption of blockchain in e-commerce are Effort expectancy, Perceived efficiency, Price value, and Trust. It is crucial to educate individuals about the effort and trust required when implementing new technologies. The research provides a theoretical contribution by refining the UTAUT2 model and proposing a blockchain-based e-commerce ecosystem model. Its practical implications offer businesses and policymakers strategies to enhance trust, improve usability, and establish regulatory clarity for real-world blockchain adoption.

Keywords

E-commerce / blockchain / product traceability and authenticity / customer trust / UTAUT2

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