Barriers Affecting the Use of Blockchain by Freight Forwarders in Ho Chi Minh City

Abstract

Blockchain technology can improve the efficiency and competitiveness of freight forwarding companies. Although blockchain technology is expected to be a solution to help companies build sustainable logistics networks, the adoption rate of this technology is still low. Therefore, this study identifies barriers to blockchain adoption in the freight forwarding industry. Instead of providing more reasons to adopt blockchain technology, the study explores the factors that prevent freight forwarders from adopting blockchain. Findings based on empirical data support the majority of research hypotheses. The study identified factors that impede the adoption of blockchain technology including Perceived complexity of the technology, Perceived risk of vendor lock-in, Perceived effort in collaboration and communication between firms, Perceived constraint on government support and Perceived constraint on existing regulations and legal framework within blockchain. On that basis, the study provides some implications related to the application of blockchain technology in freight forwarding companies in Ho Chi Minh City.