RESEARCH OF FACTORS INFLUENCE ON THE IMPLEMENTATION OF BLOCKCHAIN TECHNOLOGIES IN THE LOGISTICS SECTOR
Abstract
The study aims to highlight the factors that influence the implementation of blockchain technologies in relation to the technological, organizational, and institutional (external environmental) aspects of the freight logistics sector. Most existing digital resources (e.g., servers, databases, services, or even smart objects, from smartwatches to the latest generation of cars) are connected to the Internet due to the ever-increasing demand for ICT. The phenomenon of digitalization is driving new models of relationships throughout the supply chain network. Business operations in the supply chain network have been transformed from manual operations to electronic communications and processing through information and communication technology systems. In addition, the freight transportation logistics industry is changing to a decentralized and digitized freight transportation logistics system. The digitized freight logistics system is built on interconnected hardware systems and requires new technologies that support the exchange of financial transactions and related data. Blockchains can help freight logistics companies track material flows in real-time, improve transportation, and accurately manage risks. Freight logistics can also be one of the most promising applications for combining the Internet of Things and blockchains. The study proposes critical factors of blockchain in freight logistics as an important aspect of implementing blockchain technologies. From a theoretical point of view, the implementation of blockchain technologies in the freight logistics sector is influenced by factors related to the technology, organization, and institutional environment of the firm (TOI). Using the TOI framework as a basis, this study has formulated a new typology of critical factors that influence the successful implementation of blockchain technologies in the freight logistics industry. These constructs can serve as a useful basis for further and deeper theoretical studies on the critical factors of blockchain technology implementation in the freight logistics industry, especially in developing economies.
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