STAKEHOLDERS’ READINESS FOR ADOPTING BLOCKCHAIN IN THE FASHION INDUSTRY

Aleksandra Trpkov, Danica Sovtić, Milica Tomić, Aleksandra Labus, Branka Rodić

DOI Number
https://doi.org/10.2298/FUEE2401001T
First page
001
Last page
028

Abstract


This paper examines the current state of readiness among stakeholders in the fashion industry regarding the adoption of blockchain technology. The main aim of the research paper is to assess the industry's preparedness and identify potential barriers and opportunities associated with implementing blockchain solutions. Recognizing the need for additional investigation in this domain, the paper presents a model that addresses pertinent questions related to blockchain technology. The research focuses on exploring the advantages that blockchain technology can bring to the fashion industry's supply chain. Furthermore, the research paper emphasizes the significance of evaluating stakeholders' readiness levels for embracing blockchain technology. By utilizing the proposed model, the findings of the research paper are examined and analyzed. The paper presents a novel business model specifically designed for implementing blockchain in the fashion industry. The proposed model aims to facilitate the adoption of blockchain technology in the industry's supply chain. To evaluate the readiness of fashion industry stakeholders to adopt blockchain, the research paper employs the TOE model. The collected data from stakeholders will be subjected to analysis using the PLS-SEM with the assistance of the SmartPLS software tool. By utilizing the TOE model and employing rigorous analytical techniques, this research paper intends to provide insights into the readiness of stakeholders in the fashion industry for blockchain adoption. Ultimately, this research aims to contribute to understanding blockchain technology in the fashion industry and pave the way for its successful implementation in the supply chain.


Keywords

Fashion industry, Blockchain, Fashion supply chain, Stakeholders

Full Text:

PDF

References


M. K. Ranisavljev, "Primena računarskih sistema u modnoj industriji", pp. 248–253, 2015.

S. K. Panda, A. K. Jena, S. K. Swain, and S. C. Satapathy, Blockchain technology: applications and challenges, Intelligent Systems Reference Library, vol 203. Springer no. July. 2021.

S. Y. Ravid and G. Monroy, "When Blockchain Meets Fashion Design: Can Smart Contracts Cure Intellectual Property Protection Deficiency? Professor Shlomit Yanisky Ravid and Grace Monroy 1 Abstract : As one of the most creative fields that employ technology, fashion design surprise", pp. 1–38.

B. Waters and I. Waters, "ERP in Fashion : Implementation Issues and Business Benefits", In Proceedings of the 1st Int. Conf. Digit. Technol. Text. Ind., no. September, 2013.

B. Krivokapic and I. C. Law, "Vrste sporova u međunarodnom pravu", no. February, 2021.

M. A. Benzaghta, A. Elwalda, M. Mousa, I. Erkan, and M. Rahman, "SWOT analysis applications: An integrative literature review", J. Glob. Bus. Insights, vol. 6, no. 1, pp. 55–73, 2021.

M. Niranjanamurthy, B. N. Nithya, and S. Jagannatha, "Analysis of Blockchain technology: pros, cons and SWOT", Cluster Comput., vol. 22, no. 2, pp. 14743–14757, 2019.

M. Borse, P. Shendkar, Y. Undre, A. Mahadik, and R. Y. Patil, "A Review of Blockchain Consensus Algorithm", Lect. Notes Networks Syst., vol. 444, pp. 415–426, 2022.

Y. Gilad, S. Hemo, R. Micali, G Vlachos, & N. Zeldovich, "Algorand: Scaling byzantine agreements for cryptocurrencies", In Proceedings of the 26th symposium on operating systems principles, 2017, pp. 51-68.

G. Katten, "Issuing Green Bonds on the Algorand Blockchain", 2021.

G. Varavallo, G. Caragnano, F. Bertone, L. Vernetti-Prot, and O. Terzo, "Traceability Platform Based on Green Blockchain: An Application Case Study in Dairy Supply Chain", Sustain., vol. 14, no. 6, pp. 1–14, 2022.

B. Wang, W. Luo, A. Zhang, Z. Tian, and Z. Li, "Blockchain-enabled circular supply chain management: A system architecture for fast fashion", Comput. Ind., vol. 123, 2020.

W. A. H. Ahmed and B. L. Maccarthy, "Blockchain-enabled supply chain traceability in the textile and apparel supply chain: A case study of the fiber producer, Lenzing", Sustain., vol. 13, no. 19, 2021.

T. K. Agrawal and R. Pal, "Traceability in textile and clothing supply chains: Classifying implementation factors and information sets via Delphi study", Sustain., vol. 11, no. 6, 2019.

T. K. Agrawal, V. Kumar, R. Pal, L. Wang, and Y. Chen, "Blockchain-based framework for supply chain traceability: A case example of textile and clothing industry", Comput. Ind. Eng., vol. 154, no. May 2020, p. 107130, 2021.

Loi Luu, Duc-Hiep Chu, Hrishi Olickel, Prateek Saxena, and Aquinas Hobor, "Making Smart Contracts Smarter", In Proceedings of the ACM SIGSAC Conference on Computer and Communications Security (CCS '16), Association for Computing Machinery, New York, NY, USA, 2016, 254–269.

J. Zahnentferner and H. Kong, "Chimeric Ledgers: Translating and Unifying UTXObased and Account-based Cryptocurrencies", Icar, 2018, Available at: https://eprint.iacr.org/2018/262.pdf

J. D. Bryan and T. Zuva, "A Review on TAM and TOE Framework Progression and How These Models Integrate", Adv. Sci. Technol. Eng. Syst. J., vol. 6, no. 3, pp. 137–145, 2021.

S. Chatterjee, N. P. Rana, Y. K. Dwivedi, and A. M. Baabdullah, "Understanding AI adoption in manufacturing and production firms using an integrated TAM-TOE model", Technol. Forecast. Soc. Change, vol. 170, pp. 1–34, 2021.

A. Purwanto and Y. Sudargini, "Partial Least Squares Structural Equation Modeling (PLS-SEM) Analysis for Social and Management Research : A Literature Review", J. Ind. Eng. Manag. Res., vol. 2, no. 4, pp. 114–123, 2021.

J. Risher, J. & Jr, J. F.. "The robustness of PLS across disciplines", Academy of Business Journal, 1, 47-55, 2017.

Hair Jr, J. F., Matthews, L. M., Matthews, R. L., & Sarstedt, M. PLS-SEM or CB-SEM: updated guidelines on which method to use, International Journal of Multivariate Data Analysis, 1(2), 107-123, 2017.


Refbacks

  • There are currently no refbacks.


ISSN: 0353-3670 (Print)

ISSN: 2217-5997 (Online)

COBISS.SR-ID 12826626