Blockchain technology and supply chain performance: The role of trust and relational capabilities

Blockchain technology (BCT) has become a focal point of attention within the field of supply chain management (SCM), characterized as a transformative and disruptive technology capable of instilling transparency and trust. While parallels between BCT and the internet have been drawn, its practical application in SCM remains in an early stage, resulting in a limited body of literature and a pronounced debate with divergent perspectives concerning its impact in this SCM domain. Drawing upon the Relational View (RV) and Dynamic Capabilities View (DCV), this study aims to address this debate by investigating the role of BCT in enhancing supply chain performance. The study utilizes semi-structured interviews with 31 industry experts, followed by thematic analysis, to unveil the underlying mechanisms through which BCT influences supply chain performance. Our findings underscore the pivotal role of trust, facilitated by BCT features, in enhancing SC performance, emphasizing the interdependence of trust in technology, platforms, and SC members. Moreover, our study uncovers the substantial influence of supply chain uncertainty on the association between BCT and trust, acknowledging its pertinence in the modern business landscape. Additionally, we present a conceptual model that elucidates the relationships among BCT, trust, relational capabilities, and supply chain performance. Our qualitative investigation suggests that trust, relational capabilities, and dynamic capabilities sequentially mediate the association between BCT and supply chain performance. This research, while reaffirming the applicability of the original RV model in the context of BCT, contributes to a nuanced perspective by identifying additional associations within the relational view. Specifically, we identify knowledge sharing, effective governance, and resource complementarity as mediating factors in the relationship between relation-specific assets and relational rent. Our study provides practical advice to managers and practitioners. It stresses the need to understand how BCT impacts supply chain performance and the crucial role of trust. We also recommend nurturing relational capabilities in supply chain networks and considering the context-specific benefits of BCT, especially in uncertain environments. This understanding enables informed decision-making to tackle challenges and leverage opportunities.