A Study of Blockchain and Its development in Taiwan Financial Industry with Grounded theory

• Main Authors: Hsiang-Chi Chou, 周湘錡
• Other Authors: 曹承礎
• Format: Others
• Language: zh-TW
• Published: 2018
• Online Access: http://ndltd.ncl.edu.tw/handle/vv77vq

碩士 === 國立臺灣大學 === 資訊管理學研究所 === 106 === In recent years, under the wave of Fintech and bitcoin, blockchain technology has become a hot topic and a buzzword across industries. Because of its transparency, immutability ,decentralization and other characteristics, blockchain technology is even considered to have the potential to disrupt the existing financial system and eliminate the high cost and inefficiency of financial intermediaries. Are Taiwan''s financial industries ready to respond to this innovative technology? Or are they still confused about this new technology without knowing their own positioning? Whether information technology is properly utilized will affect the performance and development of the organization and even change the business model of the enterprise. Therefore, it is necessary to conduct a prospective research on the current situation of the blockchain in Taiwan''s financial industry as soon as possible, and examine the problems and challenges that may be faced. This thesis aims to study the current situation and application scenarios of the blockchain of Taiwan''s financial industry, and try to construct factors that affect the adoption of blockchain. This thesis adopts the Grounded Theory as a qualitative research method. We combines Rogers'' Diffusion of Innovations theory and O''Connor''s D-I-A model as the theoretical basis, and divide organizations'' adoption phases for blockchain technology into four stages: knowledge, persuasion, incubation, and acceleration. We use this theoretical framework as the infrastructure for data collection. Based on theoretical sampling, we conducted in-depth interviews with 11 companies in the Taipei area, including financial institutions, startups, and information technology companies that help financial institutions adopting blockchain. By personally interacting with the business executives, we want to understand the challenges and bottlenecks encountered by these companies in the blockchain adoption process. These interviews yielded approximately 17 hours of audio recordings, which was transcribed into verbatim as our raw data to analysis. This research generalizes a total of fifty-six open codes and gradually merged into fourteen axial codes. Finally, in the selective coding process, we found that the factors affecting the adoption of the blockchain can be aggregated into three levels: “Technology Characteristics”, “Environmental Characteristics”, and “Organizational Characteristics”. In the end of this research, we construct a "Blockchain Adoption Process and Impact Factors Model". Based on the research results, suggestions are made for reference to financial institutions that may adopt blockchain in the future. We hope this thesis will help the development of Taiwan''s blockchain ecosystem.