Understanding blockchain by digital natives: innovation, trust and psychological factors

Abstract

Blockchain and digital technologies are transforming innovation and knowledge creation by reshaping how users interact with services, make decisions, and engage with digital ecosystems, particularly in the digital sector. This study examines the psychological and behavioural factors shaping the adoption of blockchain and digital technologies among digital natives. Drawing on the Technology Acceptance Model, Trust Theory, the Unified Theory of Acceptance and Use of Technology, the Diffusion of Innovations Theory, the Mobile Payments Technology Acceptance Model, and the Experience Paradox theory, this study develops and tests a comprehensive framework using Partial Least Squares Structural Equation Modelling (PLS-SEM). The findings highlight the central roles of trust, perceived utility, and perceived risk in adoption behaviour. On the other hand, previous digital experience is configured as a moderating factor in the relationship between perceived usefulness and adoption intention. More experienced users have a more critical attitude towards blockchain, demanding clearer advantages from such technology. This study seeks to contribute to the existing literature by refining technology adoption models. Practical recommendations are offered for businesses and policymakers, who seek to foster innovation processes through actions that build trust, address perceived risks, and help tailor strategies to the user experience.