Factors Influencing Blockchain Adoption in Agricultural Supply Chains: Insights from Agricultural Firms and Insurers

This study aims to investigate the factors influencing blockchain adoption in agricultural supply chains by comparing the perspectives of two key stakeholders: agricultural insurance companies and insured agricultural organizations. Anchored in the Institutional theory and Technology Acceptance Model (TAM), it categorizes external environmental variables into policy support and market dynamics, while introducing perceived cost as a moderating factor, to assess the path relationships among these variables concerning blockchain adoption intention. The findings reveal that both policy support and market dynamics enhance blockchain adoption intention via perceived usefulness, with perceived cost significantly moderating the effect of perceived usefulness on adoption intention. Moreover, multi-group analysis, employing the permutation test and Bootstrap-MGA, demonstrates that perceived ease of use exerts varying levels of influence on blockchain adoption intention across different groups, with permutation analysis showing heightened sensitivity in identifying the relationship between policy support and perceived usefulness. These results bridge the gap in empirical research on blockchain adoption intention within the agricultural sector from multiple angles, and offer valuable insights for practitioners and policymakers, while paving the way for future research in this domain.