Uncovering the Strategic Potential of Blockchain Technology Adoption: A Systematic Literature Review

ABSTRACT Blockchain technology adoption has gained significant attention from researchers due to its potential transformative impacts across various industries. This study aims to provide a comprehensive understanding of the adoption of blockchain technology and its strategic implications for firms. This paper uses bibliometric analysis to identify influential articles, journals, authors, countries, and the thematic focus of articles. Further, this paper uses the TCCM framework to identify frequently used theories, characteristics, contexts, and methodologies of blockchain adoption. The most popular research areas are supply chain, finance, banking, agriculture, and health care. This study has provided a novel understanding of the antecedents for adopting blockchain technology including technology‐specific, organization‐specific, environment‐specific, and psychological factors and its strategic outcomes. Blockchain adoption results in the achievement of competitive advantage, sustainable and superior performance, and the creation of new value for customers. Future researchers can gain an understanding of the existing trends and knowledge related to blockchain adoption with a strategic perspective. Specific research questions are framed to advance knowledge in this domain by future researchers. Further, a unique conceptual model a from strategic perspective is proposed, that can serve as a foundation for future empirical and theoretical analysis. Managers and practitioners should consider strategic antecedents associated with blockchain technology adoption to gain a competitive advantage.