Toggle Main Menu Toggle Search

Open Access padlockePrints

Blockchain Adoption: A Study of Cognitive Factors Underpinning Decision Making

Lookup NU author(s): Davit Marikyan, Professor Savvas PapagiannidisORCiD, Professor Raj Ranjan



This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License (CC BY-NC-ND).


The literature so far has been focused on technological sophistication rather than the aspects of blockchain adoption that can hinder or facilitate the use of the technology. To address this gap this paper aims to study the cognitive factors underpinning adoption decision-making moderated by user characteristics. Using a cross-sectional research design, the study recruited 506 respondents to participate and test the relationships hypothesised in the research model. The results of the analysis demonstrated that perceived threat vulnerability, response cost, response efficacy and self-efficacy determine adoption intention. These factors have varying effects on intention depending on users’ subjective knowledge, objective knowledge and innovativeness. This evidence contributes to the understanding of users’ perspectives on blockchain adoption, which has been under-researched so far. The findings shed light on the cognitive factors motivating blockchain-based technology use and the individual characteristics of users who are likely to adopt the technology in the context of data privacy and security. In turn, these findings can inform practitioners about the aspects of user behaviour that should be considered while developing and marketing the technology.

Publication metadata

Author(s): Marikyan D, Papagiannidis S, Rana O, Ranjan R

Publication type: Article

Publication status: Published

Journal: Computers in Human Behavior

Year: 2022

Volume: 131


Print publication date: 01/06/2022

Online publication date: 24/01/2022

Acceptance date: 20/01/2022

Date deposited: 21/01/2022

ISSN (print): 0747-5632

ISSN (electronic): 1873-7692

Publisher: Elsevier Ltd


DOI: 10.1016/j.chb.2022.107207

ePrints DOI: 10.57711/h8wh-qx11


Altmetrics provided by Altmetric


Funder referenceFunder name