Motivation to this research
In recent years, blockchain has been heralded as a disruptive force with the potential to transform entire industries—from finance and logistics to supply chain and governance. However, the promise of blockchain stands in sharp contrast to its adoption rate, particularly in areas where it could arguably offer the most value: international trade.
This gap between potential and practice was the driving force behind a study I co-authored with Professor Thomas Schlechter, titled “An Analytical Study of Barriers to Blockchain Adoption in International Trade,” published by IEEE and presented at the 11th International Conference on Web Research (ICWR 2025).
The study investigates why, despite widespread enthusiasm and massive projected value—up to $3.1 trillion in economic benefits by 2030, according to the World Economic Forum—blockchain remains underutilized, especially among small and medium-sized enterprises (SMEs) involved in global trade.
How the Idea Emerged
At the time of this research, I was serving as Technical Product Manager at Coimex, a company focused on enabling trust in B2B trade through digital platforms. My professional responsibilities placed me at the intersection of technology, logistics, and finance, and I had regular exposure to the very operational frictions that blockchain promised to solve—payment delays, document fraud, audit inefficiencies, and opaque supply chains.
But while working on these digital solutions, a recurring question began to surface: If blockchain is so well-suited to these challenges, why aren’t more companies adopting it?
Rather than speculating, I decided to explore this question systematically. Through an academic collaboration with Prof. Schlechter, the idea developed into a structured empirical study.
Research Design and Key Insights
The paper applies a survey-based empirical methodology targeting senior professionals in supply chain management, IT, and finance—individuals who either influence or directly make decisions regarding technology adoption. We surveyed 22 businesses across sectors that are highly active in international trade, including retail, logistics, manufacturing, and commodities trading.
To ensure both validity and applicability, we cross-verified survey responses with publicly available information about the companies' technology investments. This helped ground the analysis in practical reality, rather than mere self-reporting.
The results were revealing:
Only 14% of respondents had successfully implemented blockchain in their operations.
A striking 68% admitted to having limited or no knowledge of how blockchain works.
The major barriers cited were:
High initial implementation costs
Regulatory uncertainty, especially in cross-border scenarios
Technical knowledge gaps within the organization
Interestingly, the findings also reflected a curious tension: while most participants acknowledged the theoretical value of blockchain in increasing transparency and reducing fraud, they remained reluctant to pursue practical implementation due to structural and cognitive barriers.
Practical Outcomes and Policy Implications
Beyond identifying obstacles, the paper also presents several pragmatic recommendations to enable adoption:
The development of executive education programs tailored to blockchain use in trade
The creation of modular, plug-and-play integration frameworks that reduce technical entry costs
The harmonization of international regulations to remove legal ambiguity in cross-border smart contract enforcement
These suggestions aim to lower the threshold for adoption, particularly for SMEs, which often operate under stricter cost and compliance constraints.
A Turning Point Toward Deeper Blockchain Research
Although the paper’s focus is limited to international trade, the process of conducting this study had a much broader impact on my academic and professional trajectory.
It acted as a catalyst—clarifying not just the barriers to blockchain adoption, but also the research gaps and opportunities that remain open in areas like:
Web3 UX design
Blockchain sustainability and energy modeling
Zero-knowledge proofs for supply chain transparency
Tokenization of carbon markets and green finance
The intersection of technological possibility and organizational readiness continues to fascinate me. This study reaffirmed my commitment to exploring blockchain not just as a technology, but as an enabler of systemic change, particularly in contexts where transparency, verifiability, and trust are essential.
Where to Read the Full Paper
If you're interested in the full methodology, data interpretation, and policy recommendations, the paper is available on IEEE Xplore under the following citation:
Farahani, J.V., & Schlechter, T. (2025). An Analytical Study of Barriers to Blockchain Adoption in International Trade. 2025 11th International Conference on Web Research (ICWR).
DOI: 10.1109/ICWR65219.2025.11006191
Final Thoughts
This project began with a simple industry observation, evolved through academic collaboration, and became a springboard into much deeper blockchain research. While it only scratches the surface of what blockchain can do for global commerce, it reinforced my belief in evidence-based inquiry and the importance of bridging the gap between research and real-world application.
The work continues—and so does the exploration.