Abstract Purpose This research introduces a decentralized method for handling real estate transactions through the utilization of private blockchain technology. The authors pinpoint the primary challenges within the prevailing transaction procedures in India and advocate for the integration of blockchain technology as a solution. Ultimately, the study concludes that the proposed system has the potential to optimize transaction processes within Indian government offices, fostering heightened efficiency, transparency, and a reduction in corrupt practices. Methods/design/methodology The current transaction process and the centralized technology are investigated using a physical observation approach at the government office. Following that, numerous parties are questioned to identify the main pain areas in the process. The outcomes of the interviews are used to create a blockchain solution that addresses the identified pain points. Following the design, interviewees are requested to validate the suggested model. Findings Some of the primary pain areas found in the real estate transaction procedure include that it is impossible to avoid single-point failure due to the present centralized transaction process, the possibility of corruption at any point, and the lack of data available at each node. Using blockchain techniques, the suggested decentralized application enhances the way transactions are processed and ensures the quality of data availability, transparency, and the elimination of single points of failure. Practical implications and simulation process A private blockchain application is created to improve the real estate transaction procedure at the Indian government office. One complex front end is created to receive information about the seller, the buyerâs property, and the payment, and a suitable database is employed to hold the sensitive data. Data is moved to the private blockchain for final execution when the smart business logic has been applied to the necessary information. One artificial utility is created that places a heavy load on the proposed system and measures the load trashing to validate it. It generates an enormous amount of sample data to verify the suggested system. Originality/value According to recent research, blockchain technology has the potential to get better efficiency, transparency, security, data accessibility, and thus trust in the transaction process. As a result, the suggested application is beneficial to the future of the Indian real estate transaction process.
Nwamaka A. Anaza, Bhaskar Upadhyaya, Delancy Bennett, Cecilia Ruvalcaba
Abstract Why do consumers invest in cryptocurrency despite its sharp increases and decreases in value? While it seems rational that such volatility should increase consumers' fear of investment, we posit that the fear of missing out (FOMO) on the possible positive returns negates such. Further, this study explores the impact that consumers personality traits, using the big five model, has on FOMO when predicting consumers purchase intentions of cryptocurrencies. Additionally, while consumer behaviorists theorize that information search is an important aspect of the consumer decision making process, marketers have yet to integrate consumers degree of cryptocurrency knowledge as a conditional factor that influences their cryptocurrency purchase behavior. Grounded in trait and prospect theory, we employ a repeated crossâsectional sampling design to investigate these relationships in a bear and bull market. An analysis of the data from 444 and 250 respondents suggests that FOMO predicts the likelihood of investing in cryptocurrencies for certain personality traits. The findings of this study are novel as we observe that FOMO is a driving force behind cryptocurrency's consumption for agreeable and neurotic consumers. However, FOMO negatively mediates cryptocurrency investment likelihood for consumers with high openness to experience and conscientiousness in a bear market, but not in a bull market.
Open access
2 source records
Digital Marketing and Social Media
Consumer Behavior in Brand Consumption and Identification
Quan Xie, Sidharth Muralidharan, Steven M. Edwards, Carrie La Ferle
Non-fungible tokens (NFTs) have garnered attention among marketers; however, their utilization in branding campaigns remains largely underexplored. The present study examines the perceptions of Gen Zers and millennials toward branded NFTs and the impact of these perceptions on their attitudes and behaviors toward both the NFTs and the brand. The study proposes and tests a model based on the technology acceptance model and the theory of reasoned action to explain how NFT perceptions (perceived usefulness, ease of use, playfulness, risk, and scarcity) influence their evaluations of branded NFTs, willingness to purchase branded NFTs, brand attitude, and ultimately brand loyalty and purchase intentions, via a quasi-experiment. Findings showed that the perceived usefulness, playfulness, and scarcity of NFTs, as well as NFTs as a low-risk purchase, helped strengthen brand purchase intentions. More important, attitudes toward branded NFTs, willingness to purchase NFTs, brand attitudes, and brand loyalty positively mediated this relationship. Also, perceived descriptive norms of NFTs positively related to willingness to purchase branded NFTs. These findings advance both theory and practice in NFT marketing, representing one of the first empirical studies in this area.
Consumer Behavior in Brand Consumption and Identification
In recent years, investing in cryptocurrencies has become a fad worldwide. However, fewer studies have explored the intention of using cryptocurrencies. Different from traditional financial commodities, cryptocurrencies have a unique appeal. Therefore, this study uses technology mindfulness, technology readiness, and financial literacy, and through perceived trust and perceived risk, to understand usersâ intentions to use cryptocurrencies. The respondents to this study were cryptocurrency owners or those having financial investment experience. A total of 337 valid samples were obtained and analyzed by the partial least square-structural equation model (PLS-SEM) method. The results showed that technology mindfulness and negative technology readiness significantly impacted perceived trust and perceived risk. On the other hand, perceived trust and perceived risk significantly impacted the intention to use. Finally, this study proposes theoretical and practical implications which can help cryptocurrency trading platforms understand the motivations of potential and existing users. Finally, this study can also serve as a reference for cryptocurrency trading service providers to develop marketing strategies.
Abstract Disrupting the concept of ownership in the digital space, nonâfungible tokens (NFTs) have created unprecedented market opportunities and captivated millions of investors. Characterized by artificial scarcity and ensured authenticity, the technical implementation establishes novel parameters for digital ownership and collecting, underscoring a research gap where the determinants of consumer behavior are yet to be studied. This paper presents a research model based on the StimulusâOrganismâResponse (SOR) model to investigate consumers' purchase intention of NFTâbased collectibles (NFTC) for the first time. To develop our model, we identified distinctive NFTC features (functionality, scarcity, aesthetics, and price value) and blockchain characteristics (security and privacy) affecting the utilitarian and hedonic attitude towards NFTC and finally shape NFTC purchase intention. For empirical validation, we conducted an online survey among an NFTâinterested target group ( N = 356) and analyzed the results by structural equation modeling with SPSS Amos. Findings indicate that the utilitarian attitude toward NFTC is affected by perceived functionality and price value from the product side, and perceived blockchain security and privacy from the technology side. The hedonistic attitude toward NFTC is shaped by perceived functionality, scarcity, and aesthetics. Both attitudes, utilitarian and hedonistic, demonstrate a significant impact on purchase intention. A subsequent mediation analysis confirms that NFTC and blockchain characteristics have an indirect effect on purchase intention. In the underâinvestigated interface of blockchain technology, digital ownership, and consumer behavior, this work enriches the digital ownership discourse by demonstrating how NFTC create consumer value through product and technology features.
Open access
Digital Marketing and Social Media
Consumer Behavior in Brand Consumption and Identification
Purpose The study aims to explore the digital fashion trend within the Metaverse, characterized by non-fungible tokens (NFTs), across Twitter networks. Integrating theories of diffusion of innovation, two-step flow of communication and self-efficacy, the authors aimed to uncover the diffusion structure and the influencer's social roles undertaken by social entities in fostering communication and collaboration for the advancement of Metaverse fashion. Design/methodology/approach Social network analysis examined the critical graph metrics to profile, visualize, and cluster the unstructured network data. The authors used the NodeXL program to analyze two hashtag keyword networks, â#metaverse fashionâ and â#metawear,â using Twitter API data. Cluster, semantic, and time series analyses were performed to visualize the contents and contexts of communication and collaboration in the diffusion of Metaverse fashion. Findings The results unraveled the âbroadcast networkâ structure and the influencers' social roles of opinion leaders and market mavens within Twitter's â#metaverse fashionâ diffusion. The roles of innovators and early adopters among influencers were comparable in collaborating within the competition venues, promoting awareness and participation in digital fashion diffusion during specific âfadâ periods, particularly when digital fashion NFTs and cryptocurrencies became intertwined with the competition in the Metaverse. Originality/value The study contributed to theory building by integrating three theories, emphasizing effective communication and collaboration among influencers, organizations, and competition venues in broadcasting digital fashion within shared networks. The validation of multi-faceted Social Network Analysis was crucial for timely insights, highlighting the critical digital fashion equity in capturing consumers' attention and driving engagement and ownership of Metaverse fashion.
Digital Marketing and Social Media
Consumer Behavior in Brand Consumption and Identification
Vandana Kumari, Pradip Kumar Bala, Shibashish Chakraborty
The study aims to investigate how an individualâs technology awareness, subjective financial literacy and personal innovativeness characteristics impact the intention to use blockchain-based digital currencies such as cryptocurrency. The UTAUT 2 (Unified Theory of Acceptance and Use of Technology 2) model is extended with crucial constructs to develop the conceptual model. A total of 312 responses are analysed using Covariance-Based Structural Equation Modelling (CB-SEM). The moderation effects are assessed using multi-group analysis. The findings show a significant moderating effect of technology awareness and subjective financial literacy on the relationship between performance expectancy (PE) and behavioural intention to use cryptocurrency (BI). It further identified that performance expectancy (PE) mediates personal innovativeness (PI) and usage intentions (BI). The study adds to the growing literature of digital currency adoption by focusing on individual innovativeness, technology awareness and financial literacy. It also proposes a research model that can be generalised for new-age consumer-based financial technology adoption.
William Davin D. Perez, Yogi Tri Prasetyo, Maela Madel L. Cahigas, Satria Fadil Persada ¡ 6 authors
The prominent form of Non-Fungible Token (NFT) is found in the gaming industry. NFT games received immense attention during the COVID-19 pandemic because of their play-to-earn model. NFT gamers can enjoy and increase their finances in their spare time. Hence, the researchers utilized Structural Equation Modeling (SEM) to investigate the intention and immersive behaviors of 1082 respondents. The modified framework from the Theory of Planned Behavior (TPB) and Hedonic Motivation System Adoption Model (HMSAM) underwent SEM tests. These theories and methods were used to analyze relationships among hypotheses and assess factors influencing NFT game engagement. The results showed that hedonic motivation produced positive and significant influences on perceived usefulness, curiosity, joy, attitude, subjective norms, and perceived behavioral control. Subjective norms significantly influenced perceived ease of use. In due course, perceived ease of use yielded positive and significant effects on perceived usefulness, joy, attitude, and perceived behavioral control. Moreover, perceived usefulness, curiosity, joy, attitude, and perceived behavioral control had significant positive effects on behavioral intention. In addition, perceived usefulness, curiosity, joy, and attitude significantly and positively affected immersion. Meanwhile, only four hypotheses were not supported by the study. These findings were translated into theoretical and managerial implications to contribute to the academe given the strong the change of behavior of users towards NFT games during the pandemic; gaming industry since they will be able to develop, improve and create a new ecosystem in the gaming space, and NFT stakeholders since they will benefit from the development that will influence this study.
This chapter explores the intersection of finance, art, and marketing in the new frontier of digital assets, specifically focusing on cryptocurrencies, NFTs, and the metaverse. The authors analyze the potential impact of these innovative technologies on traditional financial systems, art markets, and advertising strategies. Through a comprehensive examination of the concepts of blockchain, virtual reality, and decentralization, this chapter aims to provide insight into how these emerging digital assets can reshape the way people perceive and interact with financial, artistic, and marketing landscapes.
Purpose This research aims to extract Industry 4.0 technological building blocks (TBBs) capable of value generation in collaborative consumption (CC) and the sharing economy (SE). Furthermore, by employing a mixed methodology, this research strives to analyse the relationship amongst TBBs and classify them based on their impact on CC. Design/methodology/approach Due to the importance of technology for the survival of collaborative consumption in the future, this study suggests a classification of the auxiliary and fundamental Industry 4.0 technologies and their current upgrades, such as the metaverse or non-fungible tokens (NFT). First, by applying a systematic literature review and thematic analysis (SLR-TA), the authors extracted the TBBs that impact on collaborative consumption and SE. Then, using the Bayesian best-worst method (BBWM), TBBs are weighted and classified using expertsâ opinions. Eventually, a score function is proposed to measure organisationsâ readiness level to adopt Industry 4.0 technologies. Findings The findings illustrated that virtual reality (VR) plays a vital role in CC and SE. Of the 11 TBBs identified in the CC and SE, VR was selected as the most determinant TBB and metaverse was recognised as the least important. Furthermore, digital twins, big data and VR were labelled as âfundamentalâ, and metaverse, augmented reality (AR), and additive manufacturing were stamped as âdiscretionalâ. Moreover, cyber-physical systems (CPSs) and artificial intelligence (AI) were classified as âauxiliaryâ technologies. Originality/value With an in-depth investigation, this research identifies TBBs of Industry 4.0 with the capability of value generation in CC and SE. To the authorsâ knowledge, this is the first research that identifies and examines the TBBs of Industry 4.0 in the CC and SE sectors and examines them. Furthermore, a novel mixed method has identified, weighted and classified pertinent technologies. The score function that measures the readiness level of each company to adopt TBBs in CC and SE is a unique contribution.
Purpose Cryptocurrency has emerged as a significant component on the surface of the financial industry. With its growing popularity and blockchain as an underlying technology, cryptocurrency has the potential to disrupt the digital payments market. In light of this, this study aims to identify and empirically validate factors that influence the continuous intention of customers toward the adoption of cryptocurrency. Design/methodology/approach The study extends consumption value theory by incorporating additional variables â monetary value, perceived trust and perceived risk â to enhance the predictive power of the proposed model. The data were analyzed using the partial least square technique on the sample of 285 customers. Findings The results indicate that trust is the most significant factor to influence customersâ intention to use cryptocurrency, followed by conditional value, epistemic value, emotional value and monetary value. The authors also found the significant moderating effect of personal innovativeness on behavioral intention and actual usage of cryptocurrency. Practical implications The analysis of the study gives policymakers valuable information for the establishment of the regulatory framework that supports innovation while protecting the rights of the consumer. Originality/value The study embeds great theoretical and practical significance by generating a new technical thread that will facilitate multiple players to use their resources optimally.
Conspicuous and inconspicuous consumption of luxury goods in a digital world: implications for advertisers this special issue focuses on the very intriguing types of luxury consumption that are shaping industry paradigms and trends, especially given the digital marketing revolution that is impacting the way luxury firms create and implement strategies to engage customers and drive sales.luxury brands communicate style, exclusivity, identity, uniqueness, superior quality, and hedonic value, all of which signal status to extended networks (Shukla and Purani 2012;Pangarkar, Patel, and Kumar 2023).While recent events, such as the CoVid-19 pandemic and the economic recession have impacted economic conditions, as per a Euromonitor international report, the luxury industry continued its impressive growth to reach USd 1.2 trillion in 2022, with a steady growth rate of around 6% (roberts 2022).according to a Kearney (2022), Chinese luxury consumers were at the forefront of this recovery, followed by US and German consumers, which led to many luxury brands such as Kering, lVMH, and Herms experiencing resurgence after a temporary setback.Most luxury brands were skeptical initially as the digital landscape started evolving and social media surge transformations were observed (Heine and Berghaus 2014).However, through being flexible and adaptive, luxury brands have employed a number of most advanced digital tools and techniques to target, attract, engage, and retain customers through digital marketing strategies and technologies such as phygital, artificial intelligence, virtual reality, augmented reality, influencer advertising, and non-fungible tokens (NFts).For instance, Gucci has created a virtual world on roblox, a popular game among young generation and also develop Gucci Vault which is an experimental online concept space that holds its NFts and other Web3 projects.Similarly, Balenciaga, made a pioneering move by unveiling their 2020 collection through a video game fashion show and dressed Fortnite game characters in the new Fall 2021 collection, which demonstrates their readiness to adopt themselves in the metaverse.against the backdrop of this digital marketing revolution, luxury advertisers need to create, adapt, and introduce innovative new strategies targeted at the various segments of luxury consumers.While luxury has long been associated with conspicuous consumption reflecting ostentatious behavior targeted at earning social recognition and signaling of wealth (Shukla 2012;Pangarkar, arora, and Shukla 2022), there are other types of consumers, such as inconspicuous consumption consumers (Berger and Ward 2010) and inconspicuous minimalism consumers (Pangarkar, Shukla, and taylor 2021) that are rapidly gaining attention, experiencing growth, and therefore warranting further exploration.in particular, the focus of such luxury consumers is on muted designs, subtle logos, discreet styles and fashions, and simple cuts, all of which signal distinction and differentiation to insiders or those in the know (Han, Nunes, and drze 2010; Pangarkar, Shukla, and taylor 2021).While luxury scholars have conducted research in these areas, it is important to explore, investigate, and analyze the impact of these different types of consumption on
Open access
Consumer Retail Behavior Studies
Consumer Behavior in Brand Consumption and Identification
The metaverse represents now one of the most promising innovations that lie under the umbrella of Web3-powered technologies. Its societal impact has important repercussions both on social good and on social computing. Among the technologies that are driving the metaverse, we find cryptocurrencies and Non-Fungible Tokens (NFTs) that are used to represent the property of goods and assets in the virtual worlds. In particular, NFTs are used to represent the parcels in which the metaverse is divided, with unknown consequences on the metaverse economy. In this paper, we explore the social impact of employing NFTs in the metaverse and propose an analysis of parcel sales taking Decentraland and The Sandbox as a case study. Our analysis uncovers that prices of the metaverse parcels are increasing over time and that acquiring parcels is becoming prohibitive. Additionally, we identify that the factors that drive the price of sales in the metaverse are the proximity to specific landmarks, like roads, squares, districts, or parcels owned by influencers or enterprises. We argue that this could be a factor in reducing the social good of the metaverse because it fuels a speculative market similar to the one of the physical estate.
Purpose Access to media is more available now than ever before, both physically and digitally. This study was used to investigate the underlying personality traits that influence the decision to purchase either physical or digital books, and extend theory on access to art and provide a unique lens through which marketers can sell digital media. Design/methodology/approach Study 1 is a field study in which data were collected from several comic book readers and collectors to look at the role that psychological ownership plays in influencing the likelihood of buying physical or digital comics. Specifically, study 1 includes consumers' need for uniqueness and tech savviness as potential influencers. Study 2 extends the findings of study into a new context and manipulates, rather than measures, the identity of the participants. Study 2 looks at the effects of turning a digital object into a non-fungible token (NFT). Findings This paper demonstrates that consumers who have a high consumer need for uniqueness (CNFU) are more likely to prefer physical media to digital media. Further, it is shown that preference for physical media leads, on average, to more purchases and that the consumer's psychological ownership mediates the effects of CNFU. In addition, this paper shows that higher degrees of tech savviness led to a preference for digital media. Finally, this paper shows that when consumers identify with a collector identity, turning a digital item into an NFT increases their preference for that object. Originality/value This work builds off recent research into physical and digital media and is one of the first to examine the specific personality types that prefer each.
Digital Marketing and Social Media
Consumer Behavior in Brand Consumption and Identification
Blockchain technology has the potential to completely transform the hospitality sector by offering a safe, open, and effective method of payment. Increased customer utilisation efficiency may result from this. This study looks into how blockchain payment methods affect hotel customersâ intentions to stay loyal by devising four hypotheses. A questionnaire was specifically created and self-administered for this study as a data-gathering tool and distributed to hotel customers. The I.B.M. SPSS and Amos software packages were used to analyse the data of the 301 valid responses. Findings show that hospitality customers may use blockchain payment services if the customer is satisfied with the data security of this payment system. The study also highlighted that customer data security mediated the association between utilisation efficiency and blockchain payment systems. Blockchain payment services can affect visitorsâ intentions to stay loyal by impacting data security and consumer happiness. Results suggest that blockchain payment systems can be useful for hospitality firms looking to increase client utilisation efficiency. Blockchain can simplify visitor booking and payment processes by providing a safe, open, and effective transacting method. This may result in a satisfying encounter that visitors are more inclined to recall and repeat.
V. Krishna Prasad, Meta Dev Prasad Murthy, Joshy Joseph, Atanu Adhikari
Abstract This pioneering study wishes to advance our knowledge regarding consumers' motivating, inhibiting, and trust factors influencing their purchase of nonâfungible tokens (NFTs). Employing an extended valence framework (EVF), the authors investigate the role of the marketplace trust, marketplace reputation, and perceived regulatory support in addition to the benefits and risks of the new NFT technology; in eliciting a purchase intention for NFTs. A survey of 358 NFT enthusiasts is conducted to empirically test the EVF using the structural equation modeling (SEM) technique (study 1). Further, an experimental inquiry using a 3 Ă 3 betweenâsubjects design (study 2) is performed on actual NFT consumers to investigate the relative effectiveness of the focused benefits (value appreciation vs. exclusivity vs. enjoyment) and the brand extension (original product vs. nearâextension product vs. farâextension product) in leading to positive outcomes like purchase intention and the price willing to pay for the NFTs. In addition to suggesting a comprehensive and useful framework for examining the psychological determinants of an individual's purchase intention for NFTs (study 1), the study 2 outcomes contribute significantly to future scholars and marketers by guiding them in designing effective benefits message appeals to the buyers in promoting their NFTs for original as well as brand extension products. The results recommend that NFT marketers focus on the exclusivity benefits of the NFTs for higher willingness to pay among the users while signaling value appreciation benefits shall evoke the highest purchase intention among the three benefit message appeals.
Customer Service Quality and Loyalty
Consumer Behavior in Brand Consumption and Identification
Jun Wu, Ping Zhang, Xianglin Bao, Wenhan Li ¡ 6 authors
The technologies associated with the Internet of Things (IoT) have great potential for application in the domain of agriculture to increase production and reduce energy consumption. This paper builds a integrated vegetable supply system which integrates planting, storage, logistics and consumption through IoT technology. Using blockchain and Web development technology, this system creates traceable smart contract to ensure food safety. Environment data collected by sensors are used to predict the growth requirements of the plants by Long Short-Term Memory (LSTM) neural network. A prototype system is created to prove the feasibility of the system.
Many goods require certain conditions for their storage, such as temperature, humidity and arrangement, which are strictly specific. These include dangerous goods, medicines and goods with a limited shelf life. Servicing them in warehouses is an important task in order to be able to establish and monitor the flow of their transportation from the manufacturerâs warehouse to the end user. In this context, the use of modern technologies, such as IoT, makes it possible to facilitate the activity of logistics centers on the storage, receipt and loading of goods, tracking their location and condition, as well as the inventory of their availability. This paper proposes an integration model of blockchain technology and IoT for logistics business. This model uses smart contracts on the blockchain, and it is suitable for managing cross-docking warehouses and transportation.
Abstract The COVIDâ19 pandemic opened a market for omnichannel healthcare. While some patients trusted the hybrid mode of consultancy, others lacked trust in the online mode of consultancy. The purpose of the study is to understand the extent to which blockchain can influence the swift trust of stakeholders and the usage intention of omnichannel healthcare systems (OHS). We used a quantitative approach by surveying 250 patients that rendered services from OHS by drawing upon the lens of organizational information processing theory (OIPT) and swift trust theory (STT). We test the hypotheses using the PLSâSEM technique. The results show blockchain technology can significantly affect the adoption of omnichannel healthcare by reinforcing swift trust in OHS and its continued usage.
Purpose Non-fungible tokens (NFTs) are gaining popularity as investments and personal indulgences, prompting brands to integrate them into marketing campaigns. Thus, understanding consumer personality traits toward NFTs is essential for success. This study presents a model that explores how social comparison orientation (SCO) influences perceived exclusivity and financial benefits of NFT marketing, subsequently impacting experiential evaluations, willingness to purchase NFTs and brand loyalty. Design/methodology/approach We conducted two experiments to test our model. Study 1 used a quasi-experiment with 1,053 participants and tested the model using partial least squaresâbased structural equation modeling. In Study 2, we aimed to investigate the causal influence of SCO on NFT marketing effectiveness. We employed a one-factor experiment (social comparison prime: high SCO vs. control) with 123 participants. Findings NFT users frequently engage in social comparisons and prefer branded NFTs that offer exclusivity (social value) and financial benefits (economic value). Social and financial superiority derived from NFTs enhances branded NFT experiences, leading to a stronger willingness to purchase NFTs and building brand loyalty. Perceived exclusivity, financial benefits and experiential evaluation mediate the effects of SCO on willingness to purchase NFTs and brand loyalty. Originality/value This study explores the effectiveness of NFT marketing through the lens of social comparison theory. In doing so, we examined the relationship between SCO and NFT marketing outcomes, revealed the causal influence of SCO on perceived exclusivity and perceived benefits in NFT marketing and shed light on the serial mediation of value- and experience-related constructs.
Consumer Behavior in Brand Consumption and Identification
The sharing economy has shown significant growth in recent years, reinforced by the emergence and success of companies like Uber, Airbnb, eBay, etc. Consistently, it is attracting more and more attention from both the business and academic communities, which in turn are driving the development and adoption of new technologies in the sharing economy, such as smart contracts. However, which attributes of sharing economy business model would be most effectively modified by smart contracts and what would the qualitative effect? To answer these questions in this paper, we conducted a four-part study. First, we presented a description of the sharing economy and smart contract technology. Second, we considered the previously proposed generalized business model of a sharing economy company. Third, we identified the attributes of this business model to which smart contracts can be most effectively applied. Fourth, we qualitatively presented the effect of using smart contracts for each attribute.
Purpose This research attempted to establish the underlying dimensions of supply chain management practices, blockchain technology and supply chain performance in the Indian dairy industry. Additionally, the study proposes a conceptual model that shows the mediating effects of blockchain technology in the relationship between supply chain management practices and supply chain performance. Design/methodology/approach Structural equation modelling (SEM) is incorporated to examine the proposed model using SPSS and AMOS version 24. The study population includes 119 registered Indian dairy processing units operating in Uttar Pradesh and New Delhi ( source: Dairy â India ). Individual registered dairy processing unit's top four executives, that is Head of the Dairy Processing Plant, Supply Chain head and Marketing Head, and IT head are chosen as the respondents of the study, which renders the sample size of 476. Judgmental sampling based on the organisation's market position and plant production capacity (i.e. one lakh litre per day) has been set as the benchmark for selecting the dairy processing units. The executives are selected as respondents as they are well-versed in the phenomenon of supply chain management practices, blockchain technology and supply chain performance compared to other staff working in the dairy industry. The data was collected from December 2021 to March 2022 through judgmental sampling. The target sample size was 476, but only 286 questionnaires were received in a completed state and were further used for analysis. Findings Manufacturing practices, information sharing, distribution management, inventory management and blockchain technology have a significant and positive impact on supply chain performance in the Indian dairy industry. Furthermore, the research demonstrates that blockchain technology partially mediates the relationship between supply chain management practices and supply chain performance in the context of the Indian dairy industry. Research limitations/implications This research is focused on the Indian dairy industry operating in only two states, namely New Delhi and Uttar Pradesh. More research is needed to determine whether SCM practices and the prospects for blockchain technology among channel members are universally applicable to merchants in non-dairy products. Similar investigations should be carried out on dairy industry operating in various formats and in numerous geographic locations. Further, case studies can be conducted by future researchers to learn how supply chain management methods are deployed, what precisely these practices entail and what costs and time demands are required by these practices in context of small independent retailers across different germane expanse. Originality/value While the available literature on the research area is spread out, the influence of blockchain technology in the Indian dairy industry has not yet been sufficiently analysed. Therefore, the research article focused on exploring underlying dimensions of the constructs of supply chain management practices, blockchain technology adoption and supply chain performance in the context of the Indian dairy industry.