Analyzing the barriers to blockchain adoption in supply chain finance using an integrated interval-valued Fermatean fuzzy RAFSI model

Abstract

Abstract Many attempts have been made to identify barriers to blockchain adoption in supply chain; however, barriers to blockchain adoption in supply chain finance (SCF) are underexplored. This study prioritizes barriers to blockchain adoption in SCF and evaluates the barrier level of each alternative participant. We propose an integrated decision model to prioritize the barriers and evaluate their levels of alternative participants. To determine the barriers, we conducted a literature review. We then introduce an integrated weight calculation method by combining interval-valued Fermatean fuzzy (IVFF)-optimistic-pessimistic-utility values-based and IVFF-RS (ranking sum) methods to determine the barrier weights. To evaluate the barrier level of each alternative participant in SCF, the integrated IVFF-RAFSI (Ranking of Alternatives through Functional Mapping of Criterion Subintervals into a Single Interval) model is presented to rank the barrier, which uses a power-weighted aggregation operator to fuse experts’ opinions. A case study demonstrates the practicality of the integrated IVFF-RAFSI model. The results show that uncertain and competitive markets (weighted at 0.0676) are the most significant barriers. This finding also suggests that small and medium-sized processing enterprises have the highest barriers to blockchain adoption. Sensitivity and comparative analyses validate the steadiness and competency of the proposed model. These results indicate that the proposed methodology provides a systematic technique for analyzing barriers to blockchain applications in SCF.

Keywords

• Blockchain
• RAFSI model
• Supply chain finance
• Interval-valued Fermatean fuzzy