A CRITICAL SUCCESS FACTORS MODEL FOR ADOPTING AND IMPLEMENTING SMART CONTRACTS

Faculty Computer Science Year: 2023
Type of Publication: ZU Hosted Pages:
Authors:
Journal: Journal of Theoretical and Applied Information Technology Journal of Theoretical and Applied Information Technology Volume:
Keywords : , CRITICAL SUCCESS FACTORS MODEL , ADOPTING AND IMPLEMENTING    
Abstract:
Recently, smart contracts (SCs) have flourished and have become a mainstream research topic because smart contracts drive the new wave of innovation in business processes. SCs transform real-world contract terms into digital promises of the virtual world. But, the adoption of SCs' technologies in various industries and services is a challenging task. Therefore, this study articulated twenty-one critical success factors for SCs adoption in different applications based on the previous researches and classified them into three categories. These factors are analyzed for each stage of the SCs' lifecycle using the Hierarchical Decision- Making Trial and Evaluation Laboratory (Hierarchical-DEMATEL) technique. At the early stage of SC creation, mature technology, and complexity are the top critical success factors. Then, at the deployment stage, the infrastructural facility and the correctness and immutability of the contract represent the success cornerstones. Finally, having the appropriate infrastructural facility is vital to execute SCs successfully. Based on these results, the authors proposed a smart contract adoption success model based on the implementation life cycle of SCs. The proposed success model was validated by creating a smart contract platform for Egypt's subsidized social housing land program. As a result, the framework managed the project successfully through its early life stages.
   
     
 
       

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