Modeling cost saving and innovativeness for blockchain technology adoption by energy management

Nazir Ullah; Waleed S. Alnumay; Waleed Mugahed Al-Rahmi; Ahmed Ibrahim Alzahrani; Hosam Al-Samarraie

doi:10.3390/en13184783

Modeling cost saving and innovativeness for blockchain technology adoption by energy management

Nazir Ullah
, Waleed S. Alnumay
, Waleed Mugahed Al-Rahmi
, Ahmed Ibrahim Alzahrani
, Hosam Al-Samarraie

Research output: Contribution to journal › Article › peer-review

51 Citations (Scopus)

111 Downloads (Pure)

Abstract

In developed nations, the advent of distributed ledger technology is emerging as a new instrument for improving the traditional system in developing nations. Indeed, adopting blockchain technology is a necessary condition for the coming future of organizations. The distributed ledger technology provides better transparency and visibility. This study investigated the features that may influence the behavioral intention of energy experts to implement the distributed ledger technology for the energy management of developing countries. The proposed model is based on the Technology Acceptance Model construct and the diffusion of the innovation construct. Based on a survey of 178 experts working in the energy sector, the proposed model was tested using structural equation modeling. The findings showed that perceived ease of use, perceived usefulness, attitude, and cost saving had a positive and significant impact during the blockchain technology adoption. However, innovativeness showed a positive effect on the perceived ease of use whereas an insignificant impact on the perceived usefulness. The present study offers a holistic model for the implementation of innovative technologies. For the developers, it suggest rising disruptive technology solutions.

Original language	English
Article number	4783
Number of pages	22
Journal	Energies
Volume	13
Issue number	18
DOIs	https://doi.org/10.3390/en13184783
Publication status	Published - 14 Sept 2020

Bibliographical note

This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

Funder

This work was funded by the Researcher Supporting Project (RSP-2020/250), King Saud University, Riyadh, Saudi Arabia.

Funding

Funding: This work was funded by the Researcher Supporting Project (RSP-2020/250), King Saud University, Riyadh, Saudi Arabia. Acknowledgments: This work was funded by the Researcher Supporting Project (RSP-2020/250), King Saud University, Riyadh, Saudi Arabia.

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 7 Affordable and Clean Energy

Keywords

Adoption theories
Blockchain
DLT
Energy sector
TAM

ASJC Scopus subject areas

Renewable Energy, Sustainability and the Environment
Energy Engineering and Power Technology
Energy (miscellaneous)
Control and Optimization
Electrical and Electronic Engineering

Access to Document

10.3390/en13184783Licence: CC BY

PublishedFinal published version, 1.05 MBLicence: CC BY

Cite this

@article{afcb15c7b78e4193b4184e774db6caf3,

title = "Modeling cost saving and innovativeness for blockchain technology adoption by energy management",

abstract = "In developed nations, the advent of distributed ledger technology is emerging as a new instrument for improving the traditional system in developing nations. Indeed, adopting blockchain technology is a necessary condition for the coming future of organizations. The distributed ledger technology provides better transparency and visibility. This study investigated the features that may influence the behavioral intention of energy experts to implement the distributed ledger technology for the energy management of developing countries. The proposed model is based on the Technology Acceptance Model construct and the diffusion of the innovation construct. Based on a survey of 178 experts working in the energy sector, the proposed model was tested using structural equation modeling. The findings showed that perceived ease of use, perceived usefulness, attitude, and cost saving had a positive and significant impact during the blockchain technology adoption. However, innovativeness showed a positive effect on the perceived ease of use whereas an insignificant impact on the perceived usefulness. The present study offers a holistic model for the implementation of innovative technologies. For the developers, it suggest rising disruptive technology solutions.",

keywords = "Adoption theories, Blockchain, DLT, Energy sector, TAM",

author = "Nazir Ullah and Alnumay, \{Waleed S.\} and Al-Rahmi, \{Waleed Mugahed\} and Alzahrani, \{Ahmed Ibrahim\} and Hosam Al-Samarraie",

note = "This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.",

year = "2020",

month = sep,

day = "14",

doi = "10.3390/en13184783",

language = "English",

volume = "13",

journal = "Energies",

issn = "1996-1073",

publisher = "Multidisciplinary Digital Publishing Institute",

number = "18",

}

TY - JOUR

T1 - Modeling cost saving and innovativeness for blockchain technology adoption by energy management

AU - Ullah, Nazir

AU - Alnumay, Waleed S.

AU - Al-Rahmi, Waleed Mugahed

AU - Alzahrani, Ahmed Ibrahim

AU - Al-Samarraie, Hosam

N1 - This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

PY - 2020/9/14

Y1 - 2020/9/14

N2 - In developed nations, the advent of distributed ledger technology is emerging as a new instrument for improving the traditional system in developing nations. Indeed, adopting blockchain technology is a necessary condition for the coming future of organizations. The distributed ledger technology provides better transparency and visibility. This study investigated the features that may influence the behavioral intention of energy experts to implement the distributed ledger technology for the energy management of developing countries. The proposed model is based on the Technology Acceptance Model construct and the diffusion of the innovation construct. Based on a survey of 178 experts working in the energy sector, the proposed model was tested using structural equation modeling. The findings showed that perceived ease of use, perceived usefulness, attitude, and cost saving had a positive and significant impact during the blockchain technology adoption. However, innovativeness showed a positive effect on the perceived ease of use whereas an insignificant impact on the perceived usefulness. The present study offers a holistic model for the implementation of innovative technologies. For the developers, it suggest rising disruptive technology solutions.

AB - In developed nations, the advent of distributed ledger technology is emerging as a new instrument for improving the traditional system in developing nations. Indeed, adopting blockchain technology is a necessary condition for the coming future of organizations. The distributed ledger technology provides better transparency and visibility. This study investigated the features that may influence the behavioral intention of energy experts to implement the distributed ledger technology for the energy management of developing countries. The proposed model is based on the Technology Acceptance Model construct and the diffusion of the innovation construct. Based on a survey of 178 experts working in the energy sector, the proposed model was tested using structural equation modeling. The findings showed that perceived ease of use, perceived usefulness, attitude, and cost saving had a positive and significant impact during the blockchain technology adoption. However, innovativeness showed a positive effect on the perceived ease of use whereas an insignificant impact on the perceived usefulness. The present study offers a holistic model for the implementation of innovative technologies. For the developers, it suggest rising disruptive technology solutions.

KW - Adoption theories

KW - Blockchain

KW - DLT

KW - Energy sector

KW - TAM

UR - https://www.scopus.com/pages/publications/85092338336

U2 - 10.3390/en13184783

DO - 10.3390/en13184783

M3 - Article

AN - SCOPUS:85092338336

SN - 1996-1073

VL - 13

JO - Energies

JF - Energies

IS - 18

M1 - 4783

ER -

Modeling cost saving and innovativeness for blockchain technology adoption by energy management

Abstract

Bibliographical note

Funder

Funding

UN SDGs

Keywords

ASJC Scopus subject areas

Access to Document

Other files and links

Fingerprint

Cite this