Advancing Consumer Adoption of Blockchain Applications

TL;DR

This paper models consumer adoption of blockchain applications, emphasizing how abstraction, product planning, and complementaries can accelerate Dapp growth amidst rising blockchain adoption.

Contribution

It introduces a model for consumer adoption of blockchain applications and analyzes factors that can enhance Dapp diffusion.

Findings

Abstraction and product planning can accelerate Dapp adoption.

Supply-side factors significantly influence blockchain technology diffusion.

Strategic use of complementaries boosts consumer acceptance.

Abstract

Blockchain technology as a whole is experiencing a dramatic rise in adoption, in no small part due to the developer-friendly Ethereum network. While the number of smart-contract powered distributed applications (Dapps) continues to rise, they face many of the same challenges all new technologies face as they are introduced to a market. By modeling the consumer adoption of blockchain technology and analyzing scholarly literature on supply-side factors affecting the diffusion of technology, we seek to prove the growth of a Dapp can be accelerated using abstraction, whole product planning, and complementaries.