| dc.description.abstract | This research focuses on the utilization of blockchain as an emerging technology in the oil and gas industry with the aim to advance the understanding of blockchain technology adoption in this industry. Through conducting qualitative research based on semi-structured interviews with managers and decision makers in the oil and gas industry and by overviewing the literature, the current opportunities, challenges, and adoption barriers of this technology were investigated. Findings indicated that despite the rapid progress of digital technologies, the adoption of blockchain technology in the oil and gas industry is a slow process due to the conservative and inherently resistant nature of the industry. Although there is evidence proving that the technology is capable of increasing the efficiency and operational transparency in the industry, there are still challenges mainly due to lack of business and managerial support, awareness, and expertise about blockchain technology within the oil and gas industry or immaturity and complexity of the technology. Different categories of blockchain adoption barriers were detected together with the presentation of some solutions to overcoming these barriers. Additionally, the drivers and influential factors in the adoption of the technology were discussed. The future of blockchain technology in the oil and gas industry is considered to be promising based on the participants’ opinions and the evidence from successful use cases. | |
