Exploring blockchain technology adoption in tanker shipping companies: an integrated analysis using the TASC model and PESTLE framework
This study explores the adoption of blockchain technology in the tanker shipping companies, focusing on two primary objectives: assessing the likelihood of adoption using the Technology Adoption in Supply Chains (TASC) model and identifying business opportunities and risks through the PESTLE framewo...
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| Format: | Thesis |
| Language: | English English |
| Published: |
2025
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| Online Access: | http://eprints.utem.edu.my/id/eprint/29424/ |
| Abstract | Abstract here |
| Summary: | This study explores the adoption of blockchain technology in the tanker shipping companies, focusing on two primary objectives: assessing the likelihood of adoption using the Technology Adoption in Supply Chains (TASC) model and identifying business opportunities and risks through the PESTLE framework. The research employs a qualitative approach, conducting semi structured interviews with stakeholders from two Chinese tanker shipping companies one preparing to adopt blockchain technology and the other having no intention to adopt it. Eight participants were purposively selected based on their roles in decision-making, IT, chartering, and operations, representing a comprehensive view of the blockchain adoption process within the companies. The TASC model assessed the likelihood of blockchain adoption by examining factors such as the characteristics of technology, organizational characteristics, and inter-firm relationships. The findings indicate that blockchain adoption is more likely in organizations with advanced digital capabilities and strong management support, though barriers such as integration complexity and high costs persist. Meanwhile, the PESTLE analysis identified opportunities such as cost savings and operational streamlining, while also highlighting risks like regulatory uncertainties, financial constraints, and public misconceptions. Successful adoption will depend on addressing these risks, ensuring technological compatibility, and fostering organizational adaptability. This study provides valuable insights and considerations for decision-makers regarding blockchain adoption in the tanker shipping industry and contributes to the limited literature on blockchain within this industry. Future research can investigate the long term impact of blockchain adoption across different shipping company sizes and geographic locations. |
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