Table 2 Exploring the critical factors affecting the adoption of blockchain in the banking industry

Technology (T)

Relative advantage (T1)

It is the degree to which using the blockchain is perceived to make one better off than otherwise

Lu et al. (2013); Xu et al. (2019)

Compatibility (T2)

The degree to which the blockchain is perceived to be consistent with internal organizational and information systems environment

Lu et al. (2013); Xu et al. (2019); Hanna et al. (2020)

Complexity (T3)

The degree to which using the blockchain is perceived to be a difficult task

Lu et al. (2013); Hsu and Yeh (2017)

System integration (T4)

The blockchain reduces incompatibility between legacy systems and enhances the responsiveness of information systems

Xu et al. (2019); Aboelmaged (2014)

Organization (O)

Adequate resources (O1)

The capabilities that an organization possesses for future needs or dynamic changes

Rawash (2021); Lian et al. (2014)

Firm size (O2)

Large firms typically have the resources necessary to experiment, pilot, and decide what blockchain they require

Lu et al. (2013); Hanna et al. (2020)

Top management support (O3)

Top management can provide vision, support, and a commitment to create a positive effect on the blockchain adoption process

Xu et al. (2019)

Human (H)

System user (H3)

The system user has sufficient knowledge and the adequate skills to adopt blockchain technology

Mohammad et al. (2022)

IT personnel (H1)

The IT personnel are able to execute their tasks well and demonstrate a sound understanding of the organizations’ needs

Xu and Lu (2022); Nong and Ha (2021)

System consult (H3)

The system consult has the ability to be good consultants and provide world-class support

Spence (2018); Nong and Ha (2021)

Project leader (H4)

The project leader has to be good leader and an undertaking to keep up to date with new techniques and technology

Adel and Younis (2021); Schneider et al. (2022)

Security (S)

Client information (S1)

The degree that Blockchain deals with integrity and confidentiality of the client information

Shi et al. (2020)

Internal information (S2)

The degree to which the blockchain is deemed secure for exchanging data and conducting online transactions

Benatia et al. (2016); Taylor et al. (2020)

System protection (S3)

The degree available in blockchain that helps protect the system and personal files

Liu and Ye (2021); Lu (2021)

Backup mechanism (S4)

The degree of creating a copy of the data and recovery in case original data is lost or corrupted

Liu et al. (2021); Feng et al. (2019)