Adoption and Market Development of Blockchain and Distributed Ledger Technologies

Project overview

First, this research project aims at contributing to a better understanding of how personal factors reflect and moderate the individual adoption of information systems technologies such as blockchain and distributed ledger technologies (DLTs). We seek to provide evidence that personal values impact individual decision-making towards technology adoption in the context of public blockchains. In other words, the link between personal factors, public blockchain characteristics, and adoption intention is assessed.

Second, the research project aims to investigate the development and drivers of the global token market underpinned by DLT. More precisely, we demonstrate how insights into the role of different aspects such as legal certainty and its impact on market development are reflected in the emergence of the global market for blockchain-based tokens.



The method for the first investigation will be based on a metric conjoint experiment. The developed research model will be validated by literature in the domain of IS adoption and social psychology. Specifically, we draw upon conceptualizations in social psychology to theorize about how personal values manifest at the individual level of analysis and impact individual adoption behavior. We thus respond to calls for incorporating values and attitudinal factors into models of individual decision-making towards technology adoption.


Project Team

Constantin Lichti, M.Sc.

Prof. Dr. Andranik Tumasjan