Role of Transparency, Traceability, Compatibility, and Relative Advantage towards Raising Blockchain Technology Adaptation in Banking Sector of Bangladesh: The Mediating Role of Perceived Value

Abstract Blockchain technology has emerged as a transformative innovation in the Banking sector. Despite its promise, there is a lack of understanding about its value and usefulness, which makes it difficult to get people to use blockchain technology on a broader scale. This research provides a framework and compares the effects of Perceived Transparency, Perceived Traceability, Relative Advantage, and Perceived Compatibility on Perceived Value, and explores how Perceived Value influences Intention to Adopt Blockchain Technology. The data were analyzed by Partial Least Squares Structural Equation Modeling (PLS-SEM) approach. The results of the measurement model indicate satisfactory reliability and validity, with all indicator loadings being greater than the recommended value. The results of the structural model indicate that perceived transparency, traceability, relative advantage and perceived compatibility are significant and positively associated with perceived value. The findings also confirm that the perceived value significantly influences intention to use blockchain technology. The model has strong explanatory power, accounting for 66.6% of variance in PV and 75.1% of variance in AI. The results show that users are more likely to adopt blockchain technology if they are aware of its advantages of providing transparency in information, reliability in tracking, better advantages than current technology, and suitability for their operations. The purpose of this research is to add to the adoption of blockchain literature by proving the mediating role of perceived value, and to provide some practical guidance for organizations looking to facilitate the adoption of the blockchain in Banking sector.