Stakeholders’ readiness for adopting blockchain in the fashion industry

Abstract

This paper examines the current state of readiness among stakeholders in the fashion industry regarding the adoption of blockchain technology. The main aim of the research paper is to assess the industry's preparedness and identify potential barriers and opportunities associated with implementing blockchain solutions. Recognizing the need for additional investigation in this domain, the paper presents a model that addresses pertinent questions related to blockchain technology. The research focuses on exploring the advantages that blockchain technology can bring to the fashion industry's supply chain. Furthermore, the research paper emphasizes the significance of evaluating stakeholders' readiness levels for embracing blockchain technology. By utilizing the proposed model, the findings of the research paper are examined and analyzed. The paper presents a novel business model specifically designed for implementing blockchain in the fashion industry. The proposed model aims to facilitate the adoption of blockchain technology in the industry's supply chain. To evaluate the readiness of fashion industry stakeholders to adopt blockchain, the research paper employs the TOE model. The collected data from stakeholders will be subjected to analysis using the PLS-SEM with the assistance of the SmartPLS software tool. By utilizing the TOE model and employing rigorous analytical techniques, this research paper intends to provide insights into the readiness of stakeholders in the fashion industry for blockchain adoption. Ultimately, this research aims to contribute to understanding blockchain technology in the fashion industry and pave the way for its successful implementation in the supply chain.