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1 – 10 of 46John Aliu, Ayodeji Emmanuel Oke, Isaac I. Akinwumi, Rislan Abdulazeez Kanya and Lydia Uyi Ehiosun
This study aimed to investigate and analyze the level of awareness and adoption of distributed ledger technologies (DLTs) within the Nigerian construction industry. The focus was…
Abstract
Purpose
This study aimed to investigate and analyze the level of awareness and adoption of distributed ledger technologies (DLTs) within the Nigerian construction industry. The focus was on addressing the current state of DLT utilization, identifying challenges and opportunities and proposing strategies to enhance the integration of DLTs into the construction processes and practices of Nigerian professionals and organizations.
Design/methodology/approach
The research was underpinned by a robust theoretical and conceptual framework, drawing from established theories of technology adoption. A comprehensive literature review guided the identification of various DLT types. This informed the development of a well-structured questionnaire, which was then distributed to Nigerian construction professionals. The collected data underwent analysis using percentages, frequencies, mean scores, the Kruskal–Wallis H-test and the Shapiro–Wilk test.
Findings
A significant finding of this study reveals a generally low awareness and implementation of DLT among construction professionals in Nigeria. These findings emphasize the urgent need for comprehensive strategies to bridge the gap between awareness and adoption of DLT within the Nigerian construction industry.
Practical implications
Industry associations, regulatory bodies and educational institutions can collaborate to develop specialized programs aimed at familiarizing professionals with the benefits and applications of DLTs. Additionally, technology providers and policymakers can leverage these findings to design user-friendly interfaces and guidelines for seamless DLT integration into construction processes.
Originality/value
This study contributes to the existing body of knowledge by providing a comprehensive assessment of the awareness and adoption of DLTs specifically within the Nigerian construction industry. While the global recognition of DLT’s potential in construction is acknowledged, this research delves into a regional context, shedding light on the specific opportunities within Nigeria. Furthermore, the study’s identification of a gap between awareness and implementation highlights a critical area for future exploration and development in the field of construction technology adoption.
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Ayodeji Emmanuel Oke, John Aliu, Lydia Uyi Ehiosun, Andrew Ebekozien and Akinrolade Ayowole Rotimi
The emergence of distributed ledger technology (DLT) has transformed the way construction industries approach data management, ushering in an era of increased transparency…
Abstract
Purpose
The emergence of distributed ledger technology (DLT) has transformed the way construction industries approach data management, ushering in an era of increased transparency, security and efficiency. The purpose of this study is to investigate the strategies to promote the adoption of DLT in the Nigerian construction sector. This was done to address the challenges that hinder the widespread adoption of DLT within the Nigerian construction sector.
Design/methodology/approach
A comprehensive literature review informed the design of a structured questionnaire for data collection. The questionnaire was distributed among diverse construction professionals to explore their perceptions of potential strategies. The collected data were analyzed using the Shapiro–Wilk test for data distribution, while mean values and standard deviations were used to facilitate the ranking of strategies. The Kruskal–Wallis H-test was used to assess opinion differences, and exploratory factor analysis was applied to uncover underlying dimensions.
Findings
The findings revealed the top five strategies for DLT adoption as conducting workshops and seminars to educate professionals, collaborating with universities for DLT courses, encouraging joint projects for shared insights, forming consortia for DLT standards and allocating funding for DLT research in construction. Through factor analysis, the strategies identified were categorized into four principal clusters: awareness and education advancements, government support and incentives, industry collaboration and standards and pilot projects and demonstrations.
Originality/value
While prior studies have identified barriers to DLT adoption and offering recommendations, this research advances the field by empirically investigating and assessing several of these strategies proposed in various studies. This approach provides valuable insights that go beyond existing research, offering a deeper understanding of the practical and contextual dynamics influencing DLT adoption in the construction sector.
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Ayodeji Emmanuel Oke, John Aliu, Lydia Uyi Ehiosun, Ahmed Farouk Kineber and Seyi Segun Stephen
The construction industry in Nigeria, like many others worldwide, grapples with increasing demands for enhanced efficiency, transparency and security. While distributed ledger…
Abstract
Purpose
The construction industry in Nigeria, like many others worldwide, grapples with increasing demands for enhanced efficiency, transparency and security. While distributed ledger technology (DLT) offers substantial potential in tackling these issues, its implementation faces numerous obstacles. This study aims to investigate the challenges hindering the adoption of DLT within the Nigerian construction sector, capitalizing on a recognized research gap in this field.
Design/methodology/approach
A comprehensive literature review identified 20 challenges to DLT adoption. A structured questionnaire was developed and distributed to 98 construction professionals selected from a pool of 5,330 members using purposive and snowball sampling. Background information was assessed using frequency and percentage, data normality with the Shapiro–Wilk test and nonparametric data compared using the Kruskal–Wallis H-test. Factor analysis was then used to reduce the challenges into a more coherent set.
Findings
Findings revealed the top five challenges: power supply issues, data privacy and compliance, an uncertain legal framework, insufficient training and education and a lack of skilled workforce. Further analysis revealed four clusters of challenges, namely, technical and infrastructure barriers, organizational and cultural challenges, financial and economic challenges and regulatory and legal challenges.
Practical implications
Through the evaluation of challenges and potential strategies to overcome them, this study aims to lay a foundation that assists construction entities in effectively harnessing the benefits of DLT while navigating the obstacles inherent in its adoption.
Originality/value
This study contributes to the existing body of knowledge by offering insights into the challenges surrounding the adoption of DLT, specifically within the Nigerian construction sector. By juxtaposing the findings from this study with existing research conducted in other countries such as India, South Africa and the USA, a more comprehensive understanding of the challenges unique to the Nigerian context can be gained.
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Gifty Kenetey and Boris Popesko
This study aimed to examine the adoption of consortium blockchain technology to ensure interoperability for the transparency of budgetary control in Ghanaian local government.
Abstract
Purpose
This study aimed to examine the adoption of consortium blockchain technology to ensure interoperability for the transparency of budgetary control in Ghanaian local government.
Design/methodology/approach
This study is based on the design science research (DSR) observational technique for developing a consortium blockchain budgetary control system for Ghana's local government.
Findings
The study resulted in the design of a consortium blockchain monitoring and evaluation system to set up a mechanism to monitor various budget projects, processes and transactions for Ghana's local government. The findings also proved Ghana is ideally positioned to gain an advantage from designed artefacts such as ours, given its digital financial service (DFS) policy. In addition, the evaluation of the designed artefact proves there will be a positive impact on budgetary processes by addressing transparency concerns; however, the success of this concern depends on how the local government organisation embraces the artefact.
Research limitations/implications
The study sheds light on budget monitoring and evaluation tied to peer-to-peer (P2P) participation in the public sector via an advanced administrative digitalised networking and communication algorithm (A Distributed Ledger Technology - blockchain). The difference between the designed artefact and the traditional M&E system is argued. The study is limited by the paradoxes and inefficiencies of the integration of blockchain into the Ghanaian local government but, at the same time, presents a high level of certainty and possibility.
Practical implications
The proposed artefact has presented relevance because it is a new solution to existing concerns like trust, transparency, accountability and compliance, thereby improving local government budget administration.
Originality/value
The study has offered unique and new methods, guidelines and designs for tracking various budget projects and processes beyond the conventional technology-driven approach via DSR, exhibiting a unique solution for solving budget transparency, trust, accountability, compliance and data accessibility concerns.
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Know your customer (KYC), accounting standards, issuance, clearing, and trade settlement became the major barrier to implement accounting, accountability and assurance process in…
Abstract
Purpose
Know your customer (KYC), accounting standards, issuance, clearing, and trade settlement became the major barrier to implement accounting, accountability and assurance process in supply chain finance (SCF). Blockchain technology features have the potential to solve accounting problems. This research focuses on exploring how blockchain technology provides solutions to overcome the barriers of accounting process in SCF. The benefits, opportunities, costs and risks related to blockchain adoption are also explored.
Design/methodology/approach
Multi-case study and qualitative methods are used with a framework based on blockchain role to overcome the accounting process barriers. Ten blockchain projects in SCF and 29 interviews of participants as a unit of analysis are considered.
Findings
The findings indicate that blockchain technology offers solutions to solve accounting, accountability and assurance problems in SCF. Validity, verification, smart contracts, automation and enduring data on trade transactions potentially solve those barriers. However, it is also necessary to consider costs such as implementation, technology, education and integration costs. Then there are possible risks such as regulatory compliance, operational, code development and scalability risk. This finding reflects the current status of blockchain technology roles in SCF.
Research limitations/implications
This study unveils blockchain's SCF accounting potential, emphasizing multi-case method limitations and future research prospects. Diverse contexts challenge findings' applicability, warranting cross-industry studies for deeper insights. Addressing selection bias and integrating quantitative measures can enhance understanding of blockchain's accounting impact.
Practical implications
Accounting professionals can get an idea of the future direction and impact of blockchain technology on accounting, accountability and assurance processes.
Originality/value
This study provides initial findings on the potential, costs and risks of blockchain that is beneficial for parties involved in SCF, especially for banks and insurance underwriters. In addition, the findings also provide direction for the contribution of blockchain technology to accounting theory in the future.
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Soraya González-Mendes, Sara Alonso-Muñoz, Fernando E. García-Muiña and Rocío González-Sánchez
This paper aims to provide an overview of the application of blockchain to agri-food supply chains, including key issues and trends. It examines the state of the art and…
Abstract
Purpose
This paper aims to provide an overview of the application of blockchain to agri-food supply chains, including key issues and trends. It examines the state of the art and conceptual structure of the field and proposes an agenda to guide future research.
Design/methodology/approach
This article performs a bibliometric analysis using VOSviewer software on a sample of 205 articles from the WoS database to identify research trend topics.
Findings
The number of publications in this area has increased since 2020, which shows a growing research interest. The research hotspots are related to the integration of blockchain technology in the agri-food supply chain for traceability, coordination between all actors involved, transparency of operations and improvement of food safety. Furthermore, this is linked to sustainability and the achievement of the sustainable development gtoals (SDGs), while addressing key challenges in the implementation of blockchain-based technologies in the agri-food supply chain.
Practical implications
The application of blockchain in the agri-food supply chain may consider four key aspects. Firstly, the implementation of blockchain can improve the traceability of food products. Secondly, this technology supports sustainability issues and could avoid disruptions in the agri-food supply chain. Third, blockchain improves food quality and safety control throughout the supply chain. Fourthly, the findings show that regulation is needed to improve trust between stakeholders.
Originality/value
The paper provides a comprehensive overview of the blockchain phenomenon in the agri-food supply chain by optimising the search criteria. Moreover, it serves to bridge to future research by identifying gaps in the field.
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Devid Jegerson and Charilaos Mertzanis
In the evolving landscape of global remittances, this study systematically explores cryptocurrency's transformative impact on remittance services through a comprehensive…
Abstract
Purpose
In the evolving landscape of global remittances, this study systematically explores cryptocurrency's transformative impact on remittance services through a comprehensive literature review and bibliometric analysis.
Design/methodology/approach
Through meticulous PRISMA-guided analysis, the research identifies cryptocurrency technology as a pivotal force in enhancing remittance efficiency, reducing costs and broadening access contributing significantly to financial inclusion.
Findings
Findings revealed that cryptocurrency technology could significantly enhance remittance services, offering improved efficiency, reduced costs and increased accessibility. This suggests a transformative potential for financial inclusion, presenting a compelling case for broader adoption and regulatory support to leverage these benefits effectively.
Research limitations/implications
By integrating recent research, this work underlines the urgent need for broader adoption and regulatory support to leverage these benefits effectively. It offers novel insights for institutions and policymakers, highlighting the potential for technology adoption in remittances to enhance financial inclusivity.
Originality/value
More cryptocurrency studies are needed to concentrate on remittance markets. Thus, this investigation constitutes a unique addition to the field. Additional investigation in this domain presents significant possibilities for future exploration and progress.
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Yahya Marei, Adel Almasarwah, Mohammad Al Bahloul and Malik Abu Afifa
This study aims to investigate the extent to which newly certified public accountants (CPAs) and accounting graduate students possess a comprehensive understanding of…
Abstract
Purpose
This study aims to investigate the extent to which newly certified public accountants (CPAs) and accounting graduate students possess a comprehensive understanding of cryptocurrencies and the skills they have acquired throughout their education.
Design/methodology/approach
A qualitative analysis was used through semi-structured interviews to obtain an in-depth insight into cryptocurrencies, which could not be investigated easily through quantitative methods, and to provide an understanding of the context for cryptocurrencies from CPA and non-CPA students' points of view. This was in addition to focusing on understanding the differences between the students' thoughts.
Findings
This study found that recent accounting graduates and CPA members have the least awareness of cryptocurrencies, likely due to a lack of professors' comprehension or exposure to the concept. However, students involved in forensic courses provided more information about cryptocurrencies compared with other students.
Research limitations/implications
The data are limited to only a single country. Given that cryptocurrencies are a relatively new notion in accounting, there is an alarming lack of legislation. Further, the authors found that recent accounting graduates and CPAs had the same level of knowledge of cryptocurrencies, most probably due to a lack of exposure during their education and academics' limited understanding of the concept.
Practical implications
The students' differing answers about cryptocurrencies show differences in their current level of understanding of cryptocurrencies.
Originality/value
This study has identified that the vast majority of accounting graduates lack adequate knowledge about cryptocurrencies or access to adequate resources, despite understanding the fundamental concepts of cryptocurrency.
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Komeil Ali Taghavi and Mohammadreza Mashayekh
The description of “blockchain banking”, the determination of “the sub-processes” of “blockchain banking” as a “business process”, and the assessment of “maturity level” in…
Abstract
Purpose
The description of “blockchain banking”, the determination of “the sub-processes” of “blockchain banking” as a “business process”, and the assessment of “maturity level” in Parsian Bank.
Design/methodology/approach
Theoretical sources on “blockchain banking” were initially investigated. Then the “sub-processes” of “blockchain banking” as a “business process” were extracted by Parsian Bank's experts through the “Delphi method”. Next, the “sequence” of the “sub-processes” was determined by means of the “AHP”. Eventually, Parsian Bank's maturity levels for all the sub-processes as well as the overall maturity level were specified on the basis of the “CMMI” V1.3 in order for Business Process Management (BPM).
Findings
Blockchain banking’ combines traditional banking with cryptocurrencies, which can be provided by merging “hybrid e-wallet” with “bank account” and “bank card” – all together as “crypto bank account”. Plus, “hybrid e-wallet” is a form of mobile e-wallet on blockchain that supports both cryptocurrencies and traditional currencies in the same platform by which the purchase and sale of cryptocurrencies are possible. Besides, “Blockchain banking service” can also be offered within the framework of “open banking” aligned with “open innovation” through a FinTech (or a beta bank) in collaboration with a licensed bank via “open API”, which is called “blockchain banking based on FinTech”. At last, the eight sub-processes of “blockchain banking” were determined and Parsian Bank's “maturity level” was specified.
Originality/value
This is the very first practical guide to “blockchain banking service”.
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Elena Isabel Vazquez Melendez, Paul Bergey and Brett Smith
This study aims to examine the blockchain landscape in supply chain management by drawing insights from academic and industry literature. It identifies the key drivers…
Abstract
Purpose
This study aims to examine the blockchain landscape in supply chain management by drawing insights from academic and industry literature. It identifies the key drivers, categorizes the products involved and highlights the business values achieved by early adopters of blockchain technology within the supply chain domain. Additionally, it explores fingerprinting techniques to establish a robust connection between physical products and the blockchain ledger.
Design/methodology/approach
The authors combined the interpretive sensemaking systematic literature review to offer insights into how organizations interpreted their business challenges and adopted blockchain technology in their specific supply chain context; content analysis (using Leximancer automated text mining software) for concept mapping visualization, facilitating the identification of key themes, trends and relationships, and qualitative thematic analysis (NVivo) for data organization, coding and enhancing the depth and efficiency of analysis.
Findings
The findings highlight the transformative potential of blockchain technology and offer valuable insights into its implementation in optimizing supply chain operations. Furthermore, it emphasizes the importance of product provenance information to consumers, with blockchain technology offering certainty and increasing customer loyalty toward brands that prioritize transparency.
Research limitations/implications
This research has several limitations that should be acknowledged. First, there is a possibility that some relevant investigations may have been missed or omitted, which could impact the findings. In addition, the limited availability of literature on blockchain adoption in supply chains may restrict the scope of the conclusions. The evolving nature of blockchain adoption in supply chains also poses a limitation. As the technology is in its infancy, the authors expect that a rapidly emerging body of literature will provide more extensive evidence-based general conclusions in the future. Another limitation is the lack of information contrasting academic and industry research, which could have provided more balanced insights into the technology’s advancement. The authors attributed this limitation to the narrow collaborations between academia and industry in the field of blockchain for supply chain management.
Practical implications
Practitioners recognize the potential of blockchain in addressing industry-specific challenges, such as ensuring transparency and data provenance. Understanding the benefits achieved by early adopters can serve as a starting point for companies considering blockchain adoption. Blockchain technology can verify product origin, enable truthful certifications and comply with established standards, reinforcing trust among stakeholders and customers. Thus, implementing blockchain solutions can enhance brand reputation and consumer confidence by ensuring product authenticity and quality. Based on the results, companies can align their strategies and initiatives with their needs and expectations.
Social implications
In essence, the integration of blockchain technology within supply chain provenance initiatives not only influences economic aspects but also brings substantial social impacts by reinforcing consumer trust, encouraging sustainable and ethical practices, combating product counterfeiting, empowering stakeholders and contributing to a more responsible, transparent and progressive socioeconomic environment.
Originality/value
This study consolidates current knowledge on blockchain’s capacity and identifies the specific drivers and business values associated with early blockchain adoption in supply chain provenance. Furthermore, it underscores the critical role of product fingerprinting techniques in supporting blockchain for supply chain provenance, facilitating more robust and efficient supply chain operations.
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