Blockchain Adoption in Supply Chains: A Relational Governance Model of Power, Dependency, and Inter-Firm Trust

Abstract

Blockchain technology has gained growing attention for its potential to enhance transparency, traceability, and coordination across supply chains. However, its adoption remains uneven, particularly because it requires collaborative investment and alignment among multiple members. This study investigates the structural and relational drivers of blockchainadoption from an inter-firm perspective, grounded in Resource Dependency Theory (RDT) and relational governance. Accordingly, a new conceptual model, incorporating top management support and market pressure as antecedents of dependency and inter-firm power, as well as inter-firm trust as a moderator, is developed. The resulting model also provides six propositions. The paper's originality resides in conceptualizing inter-firm trust as a contingent moderator that alters the influence of dependency and power on blockchain adoption. Contrary to previous research analyzing these constructs at the organizational level, the new methodology synthesizes RDT with relational governance to elucidate the circumstances under which dependency transforms into collaborative leverage and power transitions from coercive control to facilitative leadership in blockchain-enabled supply chains. This study also suggests a detailed research agenda.