The Role of Supply Chain Transparency and Supplier Trust in the Impact of Blockchain Technology Adoption on New Product Development ^†

Abstract

This study aims to determine the effect of blockchain technology adoption on new product development. In line with this purpose, the effect of blockchain technology adoption intention, blockchain technology adoption, and blockchain technology adoption on new product development was determined. In addition, it was determined whether supply chain transparency and supplier trust variables have mediating roles in the relationship between blockchain technology adoption and new product development. For these purposes, an application was carried out on ISO 1000 companies. According to the results of the research, it was determined that the intention to adopt blockchain technology is effective for blockchain technology adoption, and blockchain technology adoption is effective for new product development. In addition, supply chain transparency and supplier trust were found to have a mediating effect.

1. Introduction

The supply chain consists of independent organizations involved in the flow of products, services, or information from a source to the consumer [1]. Supply chain management means the harmonious management of products, services, and information, which significantly affects the competitiveness of enterprises in terms of production costs, speed of bringing the product to the market, capital needs of enterprises, and profitability. In this direction, the purpose of supply chain management is to create a seamless supply chain where regional borders are eliminated to respond to consumer demands, offer quality products and services to the market, reduce production costs, and gain a competitive advantage [2]. However, managing today’s globalized supply chain has a complex structure due to uncertainties in economic and technological fields [3]. The increasing scale of enterprises, diversified product portfolio, changes in the product life cycle, increasing consumer demands, the presence of many geographical locations to be served, and the large number of intermediaries cause this complexity to increase [4]. Eliminating complexity and solving existing problems is possible with the transition from traditional understanding to digitalisation, which is a modern, global, smart, and sustainable understanding [5]. In recent years, advanced technologies such as big data, artificial intelligence, the Internet of Things (IoT), and blockchain technology have been actively used in supply chain management with digitalization [6]. Among these technologies, blockchain technology stands out as a promising technology [7].

The combination of supply chain management and blockchain technology enables the exchange of information among supply chain members by optimizing supply chain activities. In this context, supply chain processes are accelerated and strengthened thanks to shared transactional and strategically important information [8]. Integrating blockchain technology into the supply chain is a reliable approach to support and reorganize supply chain models and improve the quality of service provided. In short, adapting the blockchain to the supply chain ensures supply chain sustainability [9]. With the use of blockchain in the supply chain, it is possible to monitor every stage of the supply chain and identify the sources that cause insecurity. In this way, it becomes easier to track where the product offered to the market goes within the supply chain network [10]. At the same time, the fact that the blockchain does not belong to any person allows the digital records kept to be followed by everyone [8]. Blockchain technology shortens transaction costs and times by removing unnecessary steps in the supply chain network [11]. Blockchain technology plays a vital role in supply chain management thanks to its features, such as unalterability of data, traceability, and transparency [12]. Due to its high level of applicability, blockchain technology provides benefits for businesses in business relationships in almost every supply network. It ensures cooperation with stakeholders in the supply network and increases process-added value [13].

The new product development process consists of various interrelated activities, such as the emergence of a new product idea, designing, testing, and launching the product. The last stage of this process is the commercialization of the product. This process is a complex process that is costly, time-consuming, and requires working together with internal and external stakeholders [14]. At this point, blockchain technology emerges as a modern form of integration that businesses can use in new product development strategies [15]. Blockchain enables the storage of information required in the new product development process and simultaneously sharing it with other interested parties [6]. This situation paves the way for the formation of trust between stakeholders. This technology, which enables easier communication and cooperation with suppliers, enables businesses to easily access the additional information required to develop new products [16]. In short, during the new product development process, it ensures that the processes such as collecting, tracking, and storing the data of the supply chain proceed reliably and transparently [15].

Blockchain technology is a developing technology. Although blockchain technology, which was born with the concept of cryptocurrency, has only recently started to be applied in the world within the scope of supply chain management, some examples of companies that use blockchain technology in supply chain management are Walmart, Nestlé, Foxconn, IBM-Food Trust Food Trust, Carrefour, Migros, and TOGG. According to the comprehensive research report prepared by Market Research Future, the blockchain market in supply chain management will show great development from 2022 to 2030 and will reach a value of approximately USD 17.15 billion by the end of 2030 [17].

The use of blockchain technology, the importance of which is mentioned above, in supply chain management will bring many benefits. Within the scope of this study, it was tried to determine in which direction the use of blockchain technology in supply chain management affects new product development. At the same time, the opinions of purchasing managers about the supply chain process, process knowledge, and the effect of blockchain on the new product development process were obtained. It is thought that these views will guide other company managers who have not yet used blockchain technology or are new to it. In line with the main question of the research, which is the effect of the use of blockchain technology in supply chain management on new product development, the mediating role of supply chain transparency and supplier trust in the relationship between the adoption of blockchain technology and new product development variables has been tried to be determined. In this context, by selecting ISO 1000 companies as the main mass, it is one of the first studies conducted in Türkiye in this context. The fact that the studies on this subject are generally qualitative, address the difficulties and benefits of using blockchain technology in supply chain management, and that there are few studies on the adoption of blockchain technology and new product development differentiates this study from other studies. In addition, it is thought that it will contribute to the literature by combining the technology, environment, organization, and technology acceptance models, which are among the technology acceptance models for the adoption of blockchain technology, and the model created due to literature reviews. In addition to this information, companies will decide how to adapt to blockchain, which factors to pay attention to, and how to position blockchain by seeing the effect of blockchain on new product production. In line with the results obtained, the importance of technology, especially blockchain technology, will be understood, and it will be seen that it is a usable variable not only in the field of new product development but also in other production areas.

2. Literature Review

2.1. Concepts of Supply Chain Transparency and Supplier Trust

The concept of supply chain transparency has become quite important recently. Both companies and consumers want to know the steps taking place in the supply chain. This increasing demand for transparency has caused companies to review their supply chain practices [18]. Supply chain transparency is the provision of comprehensive information about the transactions taking place within the supply chain network by a company to its stakeholders, such as investors and consumers. The fact that stakeholders can easily access this information provides an overall increase in business performance [19]. In this context, the benefits of supply chain transparency are listed below.

• Increases corporate reputation: Building and improving a company’s reputation largely depends on the transparency of the supply chain. Companies openly sharing information about the origins of products and production processes create a sense of trust in consumers. The establishment of trust also strengthens brand reputation and increases company performance [20].
• Reduces potential risks: Ensuring supply chain transparency is also a policy that serves companies’ risk reduction strategies. Since the transparency of the supply chain enables businesses to be sensitive about human rights violations and environmental issues and take precautions about interruptions in the supply network, the risks that will occur in this direction are reduced [21].
• Strengthens relations with other stakeholders: Since supply chain transparency is based on the principle of sharing the information occurring within the supply network with stakeholders, the formation of question marks in the minds of stakeholders in this direction is prevented [22].
• Increases operational efficiency: Ensuring supply chain transparency facilitates obtaining clearer information about the supply chain network. Monitoring product movement from suppliers to manufacturers and distributors facilitates the identification of areas that need improvement. Making improvements in the identified areas increases operational efficiency [23].
• Enables managers to make the right decisions: Supply chain transparency assures that the information is accurate and reliable, helping managers to make the right decisions. Thanks to the transparency provided, managers will be able to see where products are in the supply chain network and determine when to re-supply activities, or they will be able to see where a defective product is in the supply chain network, thus reducing recall costs [24].

The concept of supply chain transparency, which is becoming more and more important every day in line with legal regulations and consumer demands and provides companies with a competitive advantage, needs to be well understood and implemented. Blockchain technology, which is a new and developing concept, is one of the tools that increases supply chain transparency. The amount of supply chain management based on blockchain technology is increasing day by day in the world, thus making supply chains more transparent [25]. In addition to supply chain transparency, the increase in competition today pushes companies to find creative and flexible ways to eliminate the competition. Many companies are trying to keep up with this change by developing their relationships with consumers and suppliers in line with common goals. The concept of trust, which is mostly used in daily life, plays an important role in establishing a successful supply chain network and maintaining relationships with supply chain members [26]. The relationship between supply chain members contains certain risks of fragility and opportunism, and trust is needed to combine these relationships and manage risks. Establishing trust strengthens the communication between supply chain members and leads to a desire to invest more [27].

In this context, trust in the supply chain is defined as the desire to believe in business partners who are considered reliable. In other words, trust refers to the belief in the honesty of a business partner. As can be seen from the definition, trust occurs between two parties. The first party is the trustor, who is in a vulnerable position due to risks and mutual dependency, and the second party is the trusted party, who must fulfill the expectations of the trusting person. The most important reason for entering into a partnership relationship based on the element of trust is the desire of both parties to minimize the risks and damages that may arise from each other commercially. By minimizing the risk and damage, supply chain members behave more openly toward each other, and their relationships develop [28].

Many studies show that the concept of trust is a key dimension in business relationships and plays an important role in long-term collaborations. In businesses where a sense of trust is established, business relationships are long-lasting, while in businesses where trust is violated, buyers avoid purchasing products from the same supplier. The formation of high trust among supply chain members brings the following benefits:

• The decision-making processes of supply chain members become easier.
• The competitiveness levels of companies increase.
• The development of a sense of mutual satisfaction among supply chain members is ensured.
• Increase in business performance.
• Management costs decrease.
• The possibility of conflict between supply chain members decreases.
• The supply chain process progresses more easily.
• Disputes are easily resolved [29].

2.2. Using Blockchain Technology in Supply Chain Management

Supply chain management is critical for the functioning of the industry chain. Businesses that manage supply chain management efficiently stand out from their competition [30]. Supply chains are systems that enable the tracking and management of the processes that raw materials required for the production of products or services offered to consumers go through from the beginning until they are transformed into products or services. The classical supply chain includes many intermediaries. Intermediaries progress in a chain and increase their costs exponentially until they reach the final consumer. In addition, the fact that information processes occur throughout the classical supply chain causes a further increase in complexity [31]. In fact, the main difficulty of the classical supply chain is the lack of a clear and reliable information channel throughout the supply chain. Customers have difficulty both receiving sufficient information about the supply process and transparently monitoring the stages that products go through [32]. In addition, transactions in the classical supply chain are carried out using physical documents and labor. This situation causes both human-related errors and cost increases. Blockchain technologies are seen as a way to overcome these difficulties experienced in the classical supply chain. With the help of blockchain technology, it is planned to complete the points where the classical supply chain falls short and provide a more effective supply chain management. With the use of blockchain technology in the supply chain, information flow and physical flows are made with the help of blocks. These blocks are connected and transform all processes, stakeholders, and private information that take place throughout the supply chain into chains in a reliable way [33]. In addition, blockchain technology enables the complex structure of supply chain management, which involves procuring products from many different suppliers, to be transformed into a more understandable structure [34]. Various transactions, such as supply, production, storage, transportation, distribution, control, invoicing, and payment, take place in every supply chain network, regardless of the sector. Since consumers want to track every transaction, it is necessary to create an information record for each transaction and transfer it forward quickly and transparently. Due to the distributed structure of blockchain technology, the transfer process takes place simultaneously [35]. Today, the main theme of blockchain technology is cooperation. In this way, competitiveness also increases [36]. Blockchain-based supply chain management is shown in detail in Figure 1 (adapted from Sinha/Chowdhury and Rodrigue).

As seen in Figure 1, blockchain technology is used as a whole in supply chain management. In other words, the parties actively play a role in the same chain in the entire process, from the production stage of the product to its delivery to the final consumer, and all transactions are recorded in the blockchain network. However, there are many benefits of using blockchain technology in supply chain management. The benefits of using blockchain technology in supply chain management are explained below.

• Blockchain technology allows tracking of the dates and locations of products, ensuring timely deliveries and payments [38].
• Blockchain technology eliminates intermediaries and inspectors by enabling identity management. Eliminating intermediaries and inspectors reduces costs and increases efficiency [39]. Moreover, the implementation of this technology improves product quality management as well as optimization and reduction of errors in inventory management [40].
• Since blockchain technology does not require paper documents in transactions and the transactions are transparent, situations such as a lack of documents or forgery of documents are prevented [41].
• Since it is difficult to determine the originality of high-value products (medicines, watches, bags, etc.) in supply chain management, determining product originality becomes easier thanks to the traceability and transparency features of blockchain technology [42].
• Thanks to blockchain technology, the traceability of the product increases the trust that consumers have in sellers. It also ensures the trust of stakeholders in supply chain management.
• Blockchain technology enables the use of high amounts of data in supply chain management. It also makes it possible to ensure the security and immutability of this data [43].

Blockchain is a constantly evolving technology. It has undertaken a very important task in terms of managing the large amounts of data that are constantly produced. At the same time, this technology has the potential to revolutionize supply chain management and other industry sectors [44].

Although blockchain technology is a tool that provides so many benefits to supply chain management processes, businesses should definitely start using this technology after a good feasibility study. It is seen that many businesses today conduct a pilot application before starting to use this technology in their businesses. The current blockchain technology should be analyzed well, and the rates at which it will be included in the supply chain management processes should be determined correctly. Correctly determining at which points the use of blockchain technology in businesses will bring more benefits is an important decision that businesses should make. Businesses should internalize blockchain technology well and adapt it to their businesses [35].

2.3. New Product Development

Reasons such as changing consumer preferences, faster technological advances than ever, easier access to information compared to the past, and changing ways of doing business put pressure on businesses to produce new products. New product development is considered one of the survival strategies that businesses should not neglect [45]. Existing products alone are not enough for businesses to sustain their existence. Because on the one hand, the life of existing products is shortening, and on the other hand, product value decreases due to technological advances. In addition, consumers who are aware of their own importance demand products that are personalized, higher quality, cheaper, and faster to access [46]. For all these reasons, businesses need to produce new products. When developing new products, businesses are in a race against time because products developed before their competitors provide an effective competitive advantage in the current market. New product development refers to a long and risky process that businesses embark on with the aim of introducing a new product. This challenging process is affected by both external environmental conditions that businesses cannot control and internal factors of businesses [47]. Although developing a new product and introducing it to the market involves a long, difficult, and costly process, it is a necessity for businesses.

A new product is defined as everything that consumers perceive as new and different. A new product is defined as an object dominated by change, innovation, and diversity, including concepts such as real products, designed products, and technological products [48]. New product development, on the other hand, is historically defined as the introduction of a new product, service, or method [49]. New products are classified as new products in the sense of invention, new products for the market, and changes to existing products.

New products in the sense of invention: Technological devices such as smartwatches, smartphones, cleaning robots, and hybrid cars, which are actively used today, have an important place in our lives. Although the use of these products does not date back much to the past, these products have entered our lives with technology. These products, which do not exist in the past but exist today, are products that have never been seen before and have not been launched on the market. Although they are completely new, they are not an extension of old products. In this context, such products fall into the category of new products in terms of invention [50]. As can be seen, new products, in terms of invention, require high knowledge and technology. In addition, since they are new, serious expenses are required, along with design costs. Therefore, the production of these products is generally carried out by countries with high levels of welfare and large enterprises. The products are pilot regions in terms of the country where they are invented. After the product is tested in this pilot region, the product is first used in developed countries, neighboring countries, and eventually all over the world [51]. New Product for the Market: Although the product has its own market, it covers products that are new to the business. The biggest risk of producing new products for businesses is that there are established companies selling these products in the market. In addition, before the product is launched on the market, the market may be saturated. Therefore, before making a decision on this issue, the product life cycle should be evaluated correctly, and the market should be entered [52].

Improvements and Changes Made to the Existing Product: Such products are neither the first of their kind for the market nor for the business. The business does not need a different production line for the production of these products. Product renewal is made by making changes to existing products. In order for the newly developed product to be successful in the market, customer demands and needs, business goals, and the profitability and sales volumes that the product will provide after it is introduced to the market must be analyzed and determined correctly [53].

Many organizations are increasingly investing in new product development to improve firm performance and gain a competitive advantage. New products play an important role in gaining competitive advantage and significantly enhancing corporate performance. In recent years, many enterprises have been trying to achieve significant growth in their market share through new product development, while new products are rapidly introduced to the market. The use of blockchain technology at the firm level helps to effectively use the firm’s resources and capabilities to gain a competitive advantage [54].

Supply chain management refers to the processes that take place from raw material production to the delivery of products to consumers [55]. This process takes place on a wide network consisting of manufacturers, consumers, retailers, transporters, storage facilities, and service providers [56]. Supply chain management has taken on a complex structure with globalization and has brought about various demands with the development of technology and the formation of the concept of Industry 4.0. At the forefront of these demands is that supply chain members demand that all transactions carried out proceed safely and be transparent [57]. This demand necessitates that all transactions carried out in the flow be recorded and shared with all supply chain members in order to ensure transparency within the system [55]. Blockchain technology, which emerged with this perspective, has increasingly increased its importance in recent days [1]. Blockchain technology is defined as a decentralized distributed system that uses various algorithms to produce and distribute data and verifies and stores data with a chained structure. In this direction, blockchain technology ensures that transactions are carried out transparently and reliably without the need for a third party [58]. Similarly, the use of blockchain technology in supply chain management brings many benefits. Blockchain technology enables more effective inventory management. It helps distribute risk due to its distributed structure [59]. By ensuring that the flow of materials is tracked throughout the supply chain, it positively affects basic supply parameters such as cost, quality, and speed [60]. By ensuring that transactions within the supply network are seen and tracked by all network members, it prevents errors and frauds that will occur on the network [61]. At the same time, the use of blockchain technology in supply chain management facilitates the new product development process [62]. Blockchain technology, the benefits of which are mentioned, is a new technology that is considered revolutionary. Although the use of blockchain technology, which is used in many areas, in the supply chain is a new structure, it is said that the situation is in the development stage [63]. In this context, some studies covering the last five years that include the use of blockchain technology in supply chain management are presented in

Table 1. Studies involving the use of blockchain technology in supply chain management.

Author	Year	Objectıve	Method	Conclusion
Babaei et al. [64]	2025	Developing a decision support tool for the adoption of blockchain technology in supply chain management	Mixed-Integer Linear Programming (MILP)	We find that link-based and component-tracking models are cost-effective and that the cost/objective function of green product tracking is more sensitive to the number of blocks than component tracking. In conclusion, this study offers great opportunities for decision-makers and managers to understand how to adopt blockchain in terms of supply chain network characteristics, cost, transparency, and service.
Purwaningsih et al. [65]	2024	To determine the effects of using blockchain technology in supply chain management on supply chain efficiency, export performance, and financial performance of SMEs	Structural Equation Modeling	Adoption of blockchain technology significantly improves supply chain efficiency, and the technology has no direct impact on SME financial performance.
Latan et al. [19]	2024	Assess the impact of adopting blockchain technology on supply chain performance	Structural Equation Modeling	It found that the adoption of blockchain technology in supply chain management can indirectly improve supply chain performance through improvements in agility, adaptability, transparency, and coordination.
Hashimy et al. [66]	2023	To identify the factors affecting the adoption of blockchain technologies by Spanish firms	A qualitative study	Competitive pressure, competence, top management support, and relative advantage have a positive effect on the intention to adopt blockchain technology, while complexity has a negative effect. Contrary to many adoption studies, adoption intention has a negative impact on adoption.
Iranmanesh et al. [58]	2023	To examine the role of supply chain parameters affecting SMEs’ blockchain adoption	Partial least squares technique	Supply chain transparency and agility have an impact on SMEs’ adoption of blockchain technology.
Jum’ a [67]	2023	To identify the direct and indirect impact of blockchain technology adoption on developing innovation capabilities to achieve supply chain competitive advantage and supply chain performance	Partial least squares technique	Investing in blockchain-enabled supply chain applications has been found to increase productivity levels, shorten lead times, improve customer service, and have a positive impact on innovative activities.
Lee and Zhang [68]	2023	To determine the impact of adopting blockchain technology in supply chain management on supply chain performance	Partial least squares technique	Blockchain technology has the potential to positively impact supply chain performance by increasing transparency, leading to reduced inefficiencies and increased customer satisfaction.
Agi and Jha [1]	2022	Identify the factors that drive the adoption of blockchain technology in the supply chain and provide insights to increase the adoption of blockchain in the supply chain	DEMATEL method	Twenty factors that enable the adoption of blockchain technology in the supply chain were identified. Among the identified factors, the external pressures variable was found to be the most effective in the adoption of the blockchain.
Külahlı and Çağlıyan [69]	2022	Systematic examination of the studies on the use of blockchain technologies in supply chain management.	Literature review	It has been determined that the use of blockchain technology in supply chain management has been increasing in recent years, and this increase has paved the way for radical changes in business models.
Liu et al. [70]	2022	Investigating the factors affecting collaborative product innovation performance and blockchain in supply chain	Structural Equation Modeling	There is a positive linear chain relationship between blockchain and supply chain collaborative innovation capability and supply chain performance.
Taherdoost [71]	2022	To identify the determinants of the adoption of blockchain technology and to determine in which sectors the identified adoption determinants are used the most	Literature review	In light of the reviewed articles, it has been determined that technology acceptance theory and technology, organization, and environment theory models are the most used models in industry, finance, supply chain, and cryptocurrency sectors.
Wan et al. [72]	2022	Examining the impact of social trust and blockchain technology implementation on firms’ collaborative innovation	Observation, survey, frequency analysis, and calculations	Blockchain implementation improves collaborative innovation, and social trust has a positive effect on collaborative innovation.
Yavuz and Avunduk [73]	2022	To explain the development and infrastructure of blockchain technology and to explain the advantages of using blockchain technology in the supply chain	A qualitative study	The use of blockchain technology in supply chain management is inevitable and will accelerate the transition to an integrated supply chain.
Alazab et al. [74]	2021	Identify the key factors that influence the adoption of blockchain technology in supply chain management in the Australian context	Partial least squares technique	Social influence factor has no significant impact on the intention to adopt blockchain technology, but inter-organizational trust has a significant impact.
Kamble et al. [75]	2021	Providing a decision support system for managers to predict the probability of an organization’s successful blockchain adoption using a machine learning technique	Structural Equation Modeling	Competitor and partner pressure, perceived usefulness, and perceived ease of use were found to be the most influential factors for blockchain adoption.
Park and Li [76]	2021	The study focuses on blockchain-based supply chain management and its sustainability performance in the areas of environmental protection, social equity, and governance efficiency	Literature review	It has been determined that blockchain technology positively affects supply chain performance, and the use of blockchain technology in supply chain management is increasing.
Paul et al. [8]	2021	Determining the impact of the use of blockchain technology on the tea supply chain	Structural Equation Modeling	It has been found that the use of blockchain technology has a significant positive impact on the tea supply chain, and transparency and reliability, in particular, are parameters of sustainable performance.
Queiroz et al. [77]	2021	Investigating blockchain technology adoption behavior and possible barriers in businesses in Brazil	Partial least squares technique	It has been found that facilitating conditions, trust, social influence, and effort expectations are the most important factors that directly affect the adoption of blockchain technology. It has also been found that performance expectation is not a determinant in predicting the adoption of blockchain technology.
Sivula et al. [78]	2021	Exploring potential opportunities and potential challenges for using blockchain technology in supply chain management and logistics	A qualitative study	It has been found that the use of blockchain in supply chain management is necessary to provide better service and transparency, and all three companies examined in the study are very keen to use blockchain in supply chain management.
Cankül and Kızıltaş [79]	2020	To determine the benefits of using blockchain technology-based supply chain management in food and beverage businesses	A qualitative study	It has been determined that the use of blockchain technology in the supply chain will provide benefits such as transparency, reliability, and efficiency.
Wong et al. [80]	2020	Examining behavioral intention to adopt blockchain technology for supply chain management	Partial least squares technique	It was found that facilitating conditions, technology readiness, and technology proximity have a positive effect on the intention to use blockchain technology in supply chain management.

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In addition to the literature data summarized in Table 1, Han and Fang [81] examined studies conducted between 2017 and 2023 in their study on the use of blockchain technology in supply chain management. A literature review was conducted using Scopus, Google Scholar, and Web of Science databases. As a result of the review, the top three countries that wrote the most articles in this direction were China, India, and the USA. Again, as a result of the search conducted by Happy et al. [82] using Scopus, Google Scholar, ProQuest ABI/INFORM Collection, and Web of Science databases between 2016 and 2022, the number of articles reached was two hundred and eleven; one article was identified between 2016 and 2017, eighteen in 2018, fifty-one in 2019, ninety-four in 2020, twenty-eight in 2021, and eighteen in 2022. When evaluated in terms of the methods used, it was seen that sixty-five of the two hundred and eleven articles used quantitative methods, one hundred and forty used qualitative methods, and six used both methods.

Based on this information, it can be said that the history of using blockchain technology in supply chain management dates back to 2016. In other words, it can be said that the use of blockchain technology in supply chain management has a history of nine years based on the accessible literature. In addition, as seen in the literature reviewed, the studies conducted mostly include qualitative studies on the adoption of blockchain technology, barriers to adoption, and supply chain management performance.

When evaluated from this perspective, it is thought that the fact that there have not been many studies on this subject in the national and international literature, the fact that blockchain technology is a newly used technology, companies always want to secure and share information and documents and therefore need to invest in higher security technologies, the need for collaborative supply chains in terms of the usefulness of the resources mobilized for the successful development of new products, and the determination of purchasing managers’ views on supply chain integration, process information, and the role of blockchain in new product development will contribute to the literature. In addition, this study provides originality by being the first quantitative study conducted in this direction on ISO 1000 companies in Turkey. In line with these objectives, the results of the study contribute to the literature and guide other researchers and companies in this direction.

3. Materials and Methodology

3.1. Sampling Process

The main body of this research consists of businesses that are engaged in new product development activities and have the opportunity to benefit from blockchain technologies in their supply chains. Based on this idea, the latest published ISO 1000 list, which lists Turkey’s largest industrial organizations, was considered the main body of the research. The complete count method was used as the sampling method in the research, and data were collected through a survey. The survey was conducted in Turkey and was created in Turkish. In this context, some businesses are on the ISO 1000 list, but their names are not included. Companies that are on the list but did not agree to conduct the survey were excluded from the research. Out of the 766 surveys conducted in total, 650 survey forms were evaluated after the incomplete and incorrectly filled surveys were eliminated and preliminary analyses were conducted.

3.2. Research Model and Variables

The Technology, Organization, and Environment model (TOE) is a technology adoption model proposed by Tornatzky and his colleagues in 1990. This model, commonly known as “Tornatzky and Fleischer”, was developed based on the diffusion innovation theory. The TOE model examines technology adoption at the firm level by taking into account external and internal factors. As a result, it provides a comprehensive picture of the factors that affect a firm’s technology adoption [66]. The TOE model consists of three dimensions: technological, organizational, and environmental. The technology acceptance model (TAM) is a model developed by Fred Davis in 1989 to explain the adoption of a new technology. This model, which is based on the theory of rational action and the theory of planned behavior, has a very widespread use due to its clarity and understandability [83]. The model helps to understand the factors that affect users’ decision to accept a new technology and how they manage this process [84]. This model consists of perceived ease of use, perceived benefit, perceived risk, intention to adopt, and adoption variables. The first three variables express the technological dimension [66].

On the other hand, TAM is widely used to measure the impact of the intention to use a technology on its actual usage, while TOE considers not only technological aspects but also organizational and environmental factors that affect technology acceptance and adoption at the corporate level. Some scholars suggest integrating TAM and TOE to create a holistic view, increase the level of understanding, enhance the predictive capacity of the resulting model, and overcome some of its limitations. By combining the benefits of TAM and TOE, both internal and external factors affecting the intention to use blockchain technology among Turkish firms can be captured.

An example is the work of Gangwar et al. [85], who combined the TAM and TOE frameworks to explore the adoption of new technologies at the corporate level. In addition to this information, some studies on the use of TOE and TAM models in supply chain management are presented in

Table 2. Examples of technology adoption models used in supply chain management.

Author and Year	Models Used
Hashimy et al. [66]	TAM and TOE
Taherdoost [71]	TAM and TOE
Wan et al. [72]	TAM and TOE
Kamble et al. [75]	TAM and TOE
Wong et al. [80]	TOE
Gökalp et al. [86]	TOE
Azmi et al. [87]	TOE

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A research model was created by integrating the TOE and TAM models based on the information from the literature review mentioned above. The research model created in line with this information is shown in Figure 2.

In the research model, technological dimension, organizational dimension, environmental dimension, intention to adopt blockchain technology, adoption of blockchain technology, supply chain transparency, supplier trust, and new product development variables were used.

The scales belonging to the research model, the number of sub-dimensions of the scales, and the sources from which the scales were taken are shown in

Table 3. Scales and sources of the research model.

Scale Name	Number of Sub-Dimensions	Source
Technological Dimension	11	Agi and Jhan [1]
Organizational Dimension	9	Agi and Jhan [1], Hashimy et al. [66], Azmi et al. [87],
Environmental Dimension	7	Hashimy et al. [66], Azmi et al. [87], Wamba et al. [88]
Intention to Adopt Blockchain Technology	3	Iranmanesh et al. [58]
Adoption of Block Chain Technology	3	Wamba et al. [88]
Supply Chain Transparency	5	Wamba et al. [88]
Supplier Trust	4	Rashid et al. [61]
New Product Development	3	Benzidia et al. [6]

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3.3. Hypotheses of Research

The hypotheses developed within the scope of the purpose and model of this research are as follows:

3.3.1. Hypotheses for Input Variables

The intention to adopt blockchain technology develops depending on many factors. One of these factors is technology. Technology is an important factor for firms to keep up with competitive conditions. These technologies include technologies that firms have adopted or technologies that they do not currently use but have the opportunity to obtain. The technology owned affects the technological development speed of firms. Firms compare their existing technologies with the proposed new technologies and adopt the new technology if the perceived benefit is high [1,55,66]. New technologies also require new skills. Acquiring these skills and making the organization ready for this technology can be difficult and complex. The fact that blockchain technology is a new and complex technology makes it difficult for firms to adopt this technology [71]. Apart from this, the previous applications of the companies that will adopt blockchain technology should be integrated with their existing features and current needs. The higher the integration, the higher the intention to adopt blockchain technology [89]. To summarize, technological factors affect the intention to adopt blockchain technology. In the light of this information, hypothesis H₁ was formed.

Hypothesis 1 (H1).

The technological dimension positively affects the intention to adopt blockchain technology.

The organizational dimension, which is the second of these factors, refers to the resources of the firms and the tangible and intangible values within the firm [90]. The organizational dimension includes many factors, such as the structure, functioning, employees, and top management of the organization. An organizational preparation for blockchain technology is necessary. Organizational readiness refers to the financial and technological capacities of organizations that are effective in the use of new technology [91]. In addition, the role and contributions of company employees are very important in the adoption of blockchain technologies. The fact that company employees have the necessary knowledge and skills in the field of technology increases their competence in this direction. The intention of the firm to adopt blockchain technology is positively affected by employees who are familiar with blockchain technology and have knowledge and competence in this field [66]. In addition, senior management support is needed for the adoption of blockchain technology. Senior management plays an important role in resource allocation, service integration, and process reorganization for the adoption of a new technology [90]. At the same time, the influence of top management in allocating human and financial resources for new technology adoption and integrating the infrastructure of the new technology into the firm is indisputable [55,60,80]. All these factors have a certain impact on the intention to adopt new technologies [66]. In this direction, hypothesis H₂ was formed.

Hypothesis 2 (H2).

The organizational dimensionpositively influences the intention to adopt blockchain technology.

The third of these factors is the environmental dimension. The environment of firms is divided into two: the micro and macro environment. The micro environment refers to the immediate environment of the firms, and the macro environment refers to the distant environment. The firm’s commercial partners and competitors are among the elements of the firm’s environment. The environmental dimension actually refers to the environment in which the firm is located. Requests and pressures from the firm’s environment to adopt new technology push firms to adopt new technologies [60]. Competition describes the struggle between firms operating in the same sector to take their firms one step ahead. Competitive pressure represents the pressure felt in this direction. With the use of new technologies in the supply chain, this pressure will give way to an advantage [92]. Most companies want to take advantage of such advantages in an increasingly competitive market. Adopting blockchain technology enables organizations to outperform competitors by changing the rules of competition. The intention to adopt blockchain technology is increasing for firms that want to take advantage of this competitive pressure to adopt blockchain technology [55,60,65,75]. The pressure from trading partners represents the pressure from the firms’ business partners. The pressure from trading partners pushes firms to adopt new technologies [92]. Supply chain management is a very complex system. Blockchain technology is used to minimize the complexity of this system and to ensure reliability and transparency. The trading partners of the companies want to get rid of this complexity and to be informed about every transaction transparently. In this direction, they put pressure on companies to use blockchain technology. The pressure of trading partners plays an important role in the intention to adopt blockchain technology [88]. As can be seen, the intention of firms under pressure to adopt new technologies such as blockchain is shaped in parallel with these pressures. In line with this information, hypothesis H₃ was developed.

Hypothesis 3 (H3).

The environmental dimension positively affects the intention to adopt blockchain technology.

Adoption intention is based on the positive or negative perceptions of firms towards the new technology. Adoption intention is considered an important factor in the adoption of a new technology. Firms with an intention to adopt accept, i.e., adopt, new technologies such as blockchain technology, while firms that do not intend to adopt do not accept, i.e., do not adopt new technologies. In short, the intention to adopt blockchain technology affects the adoption of blockchain technology [66]. This information provides the formation of the H₄ hypothesis.

Hypothesis 4 (H4).

The intention to adopt blockchain technology positively affects the adoption of blockchain technology.

Changing consumer behaviors and management mechanisms direct firms to digital technologies in terms of ensuring sustainability. In recent years, firms have been using advanced technologies such as artificial intelligence, the Internet of Things, and blockchain technology in new product development, taking into account the challenges of sustainability in their supply chains [93]. It is especially emphasized that blockchain technology has a strong impact on new product development [94]. In addition, it is thought that adopting blockchain technology is effective in new product development [72]. Based on these thoughts, the H₅ hypothesis was created.

Hypothesis 5 (H5).

Adopting blockchain technology positively affects new product development.

3.3.2. Hypotheses Regarding Mediator Variables

Supply chain transparency is a proactive communication that a company establishes with its stakeholders to create visibility and traceability in the transactions taking place in the supply chain network. In other words, supply chain transparency is the degree to which supply chain members can track current and past activities of products in the entire chain. Since it allows product tracking, it reduces the complexity experienced in supply processes [58]. At the same time, it extends beyond visibility within the supply chain, reduces company expenses, and provides better service to customers [57]. One of the ways to ensure transparency in the supply chain is to use blockchain technology. Thanks to the blockchain technology used, the supply chain becomes more transparent [58,95]. It is assumed that the visibility of all transactions taking place within the supply network will increase with the provision of transparency in the supply chain, costs will decrease due to the principle of disintermediation, transaction speed will increase, and new product development will be affected by this situation. For these reasons, it is assumed that the supply chain transparency variable is both involved in the adoption of blockchain technology and plays a mediating role in the relationship between these variables, considering that it affects new product development. In light of the information provided, the H₆ hypothesis was developed.

Hypothesis 6 (H6).

The supply chain transparency variable has a mediating role in the relationship between the adoption of blockchain technology and new product development.

Trust is a concept that expresses the desire to be vulnerable to others. In relationships based on high trust, there is a deep commitment between buyers and suppliers. Blockchain-based technology meets important trust priorities and requirements at every level of the supply chain [61]. In other words, with the use of blockchain technology in supply chain management, the sense of trust in the supplier develops positively. With the transparency provided between trading partners, the level of trust provided increases [28]. Trust in the supplier supports all innovations made by the company by providing long-term cooperation. Supplier trust is a positive factor in all improvements to be made in the organization [61]. In line with these explanations, it is assumed that the supplier trust variable is both involved in the adoption of blockchain technology and plays a mediating role in the relationship between these variables, considering that it affects new product development. In the light of the information given, the H₇ hypothesis was developed.

Hypothesis 7 (H7).

The supplier trust variable has a mediating role in the relationship between the adoption of blockchain technology and new product development.

4. Results

A questionnaire form was used to test the hypotheses and the proposed theoretical model. Before conducting the field study in its entirety, the questionnaire was tested by applying it to the target audience (within the scope of the pilot study) to verify its validity and make the necessary changes. Only minor changes were made after the pilot application by checking whether the survey questions were easily understood. Then, the entire survey application was conducted.

The data obtained as a result of the survey application was analyzed with the help of SPSS 26.0 and AMOS 22.0 statistical programs. Before conducting the necessary analyses, a normality test was performed to determine whether the sample showed a normal distribution, and it was determined that the data showed a normal distribution. Descriptive statistics, explanatory factor analysis, confirmatory factor analysis, and structural equation modeling were used in the analysis of the data. Since the research model is a model that examines cause/effect relationships, the structural equation model was preferred.

4.1. Demographic Characteristics of the Participants/Descriptive Statistics

Frequency analysis was performed to determine the demographic characteristics of the participants, and the findings are shown in

Table 4. Demographic characteristics of the participant.

Feature	Dimension	Frequency (F)	Percentage (%)
Educational Status	Primary and Secondary	2	0.3
	High School Graduate	6	0.9
	Associate Degree Graduate	118	18.2
	Bachelor’s Degree Graduate	363	55.8
	Master’s Degree Graduate	121	18.6
	Doctorate Graduate	40	6.2
Gender	Male	392	60.3
	Female	258	39.7
Age group	20–29	12	1.8
	30–39	144	22.2
	40–49	280	43.1
	50–59	176	27.1
	60–69	36	5.5
	70 and above	2	0.3
Position Status in the Business	Business Owner	2	0.3
	General Manager	31	4.8
	Senior Manager	25	3.8
	Production Department Manager	147	22.6
	Supply Chain Management Department Manager	155	23.8
	Marketing Department Manager	128	19.7
	R&D Department Manager	127	19.5
	Quality Department Manager	35	5.4
Total		650	100

.

As seen in the table, the frequency distribution of demographic characteristics of 650 participants is as follows: Most of the participants are undergraduate graduates, 55.8%, male 60.3%, 43.1% are between the ages of 40 and 49, and 23.8% are supply chain management department managers.

4.2. Participating in Business Characteristics/Descriptive Statistics

Frequency analysis was used to determine the characteristics of participating businesses, and the findings are shown in

Table 5. Partıcıpating business characteristics.

Feature	Dimension	Frequency (F)	Percentage (%)
Business Fields of Activity	Food and Beverage	85	13.1
	Textiles, Textiles, Leather, and Shoes	102	15.7
	Forest Products and Furniture	89	13.7
	Automotive	176	27.1
	Petroleum, Chemicals, Rubber, and Plastic Products	78	12.0
	Metal Industry	70	10.8
	Cement Industry	50	7.7
Business Operating Periods	1–10 years	18	2.8
	11–20 years	128	19.7
	21–30 years	186	28.6
	31–40 years	122	18.8
	41–50 years	166	25.5
	51 years and above	30	4.6
Legal Structures of the Business	Collective Company	18	2.8
	Limited Company	221	34.0
	Joint Stock Company	411	63.2
Number of Employees in the Business	250–1250	47	7.2
	1251–2250	147	22.6
	2251–3250	411	63.2
	3251–4250	39	6.0
	4251 and above	6	0.9
Working Periods with the Same Supplier	1–5 years	44	6.8
	6–10 years	97	14.9
	11–15 years	168	25.8
	16–20 years	202	31.1
	21–25 years	74	11.4
	26 years and above	65	10.0
Business Capital Structures	Completely Domestic Capital	183	28.2
	Completely Foreign Capital	83	12.8
	Capital with Foreign Partnership	384	59.1
Business Market Structures	Domestic Market	208	32,0
	Only Foreign Market	3	0,5
	Both Markets	439	67,5
Annual Sales Revenue of the Business	10 million TRY–100 million TRY	141	21,7
	101 million TRY–500 million TRY	278	42,8
	501 million TRY–999 million TRY	194	29,8
	1 billion and above	37	5,7
Total		650	100

.

As seen in the table, the frequency distribution of findings regarding the characteristics of the participating enterprises is as follows: The field of activity of most of the participating enterprises is automotive with a rate of 27.1%, the duration of activity is 21–30 years with a rate of 28.6%, the legal structure is joint stock company with a rate of 63.2%, the number of employees is 2251–3250 with a rate of 63.2%, the duration of working with the same supplier is 16–20 years with a rate of 31.1%, the capital structure is foreign partnership with a rate of 59.1%, the market structure is both markets (domestic and international) with a rate of 67.5%, and the annual net sales revenue is between 101 million TRY and 500 million TRY with a rate of 42.8%.

4.3. Participants’ Evaluations of the Variables Forming the Research Model

The mean and standard deviation values resulting from the evaluation of the technological dimension, organizational dimension, environmental dimension, intention to adopt blockchain technology, adoption of blockchain technology, supply chain transparency, supplier trust, and new product development variables forming the research model by the participants are presented below.

The statement with the highest mean for the technological dimension variable is, “The main feature of blockchain technology is that it makes all recorded data available to all network participants almost continuously”, with a mean of 3.99. Again, the statement under the same variable, “To share data over the blockchain, supply chain members must agree on the standard processes, types and levels of detail of the data to be shared”, stands out with a mean of 3.86. In line with these two statements, it is possible to say that the participants attach importance to sharing data continuously over the blockchain network within the framework of predetermined rules in a way that all participants can see. The two statements with the highest mean for the organizational dimension variable are, “Adoption and implementation of blockchain technology requires extensive technological investments. Your company’s sufficient financial resources support such investments”, with an average of 3.89, and “Senior management is willing to allocate a budget for the implementation of blockchain technology”, with an average of 3.88, respectively. In line with these two statements with similar means, it is possible to say that the participating companies support investments in this direction by allocating a budget for investments in the adoption and implementation of blockchain technology. The two statements with the highest and the same mean for the environmental dimension variable are, “Your company needs to implement blockchain technology to become a leader in its sector”, and “Your company’s major partners demand that the company implement blockchain technologies”, with an average of 3.82. In line with these two statements, it is possible to say that the participating companies need to implement blockchain technologies to become leaders in the sector and meet the demands of their major partners in this direction. The statement with the highest mean for the intention to adopt blockchain technology variable is, “Your company plans to digitally transform its supply chain management through blockchain technologies”, with an average of 3.85. In line with this statement, it is possible to say that the participant companies plan to adopt blockchain technologies to supply chain management. The statement with the highest mean for the blockchain technology adoption variable is, “Your company’s commercial activities invest resources in blockchain-enabled supply chain applications”, with an average of 3.88. In line with this statement, it is possible to say that the participant companies invest resources in blockchain-enabled supply chain applications. The two statements with the highest mean for the supply chain transparency variable are, respectively, “Blockchain technology enables information sharing with suppliers and vendors about production, assembly, delivery, and maintenance processes”, with an average of 3.88, and “Blockchain technology enables verification and certification of product characteristics, such as indicating whether a food product is organic”, with an average of 3.87. In line with these two statements, it is possible to say that the blockchain technology of the participating companies enables the sharing of information between suppliers and sellers about the processes and the verification and certification of the features of the products. The two statements with the highest average for the supplier trust variable are “Trust is necessary for technological success”, with an average of 3.88, and “You develop good relationships with your suppliers and/or buyers by using blockchain technologies”, with an average of 3.84, respectively. In line with these two statements, it is possible to say that the participating companies can develop trust-based relationships with suppliers with the help of blockchain technology. The statement with the highest average for the new product development variable is, “Your company is rapidly developing a new product for the market by using blockchain technology in its supply chain”, with an average of 3.84. In line with this statement, it is possible to say that the participating companies can quickly introduce new products to the market with the help of blockchain technology.

4.4. Reliability Analysis Results

In order to determine the reliability levels of the scales used in the research, the necessary analyses were performed; Cronbach’s Alpha values were determined, and the results are shown in

Table 6. Reliability analysis results of the research scales.

Scale Name	Reliability Coefficient (Cronbach’s Alpha)
Technological Dimension	0.954
Organisational Dimension	0.958
Environmental Dimension	0.944
Intention to Adopt Blockchain Technology	0.874
Adoption of Blockchain Technology	0.870
Supply Chain Transparency	0.910
Supplier Trust	0.906
New Product Development	0.905

.

It is accepted that the Cronbach Alpha values of the scales are at least 0.70 and above. Cronbach Alpha values of 0.70 and above prove that the reliability of the scales used in the study is at an acceptable level [51]. In this study, reliability analysis was conducted for each scale in the research model. As a result of the analysis, it was seen that the reliability levels of the scales varied between 0.87 and 0.95, and it was concluded that the scales used were reliable. Confirmatory factor analysis was used to test the validity of the scales whose reliability levels were determined. Confirmatory factor analysis for the scales is included in the following section of the study.

4.5. Path Analysis Results Regarding Interactions Between Model Variables

After the reliability and validity analyses of the variables forming the research model were conducted, confirmatory factor analysis was applied to the variables. As a result of confirmatory factor analysis, questions four, five, seven, and eight were removed from the technological dimension variable, question eight from the organizational dimension variable, and question one from the environmental dimension variable. Subsequently, structural equation modeling was conducted for the research model, and the path diagram is presented in Figure 3.

The fit indices for the path analysis performed to test the hypotheses proposed are shown in

Table 7. Research model fit values.

Compatibility Index	Before Modification	After Modification	Acceptable Compliance
Absolute Compatibility Value
Chi-Square ($X^2$)	2439.540	1971.814
Degree of Freedom	690	685
Chi-Square/sd	3.536	2.879	1–5
GFI	0.818	0.850	0.85 ≤ GFI ≤ 0.95
AGFI	0.794	0.829	0.80 ≤ AGFI ≤ 0.90
RMSEA	0.063	0.054	0.0 5 ≤ RMSEA ≤ 0.08
Incremental Compatibility Value
CFI	0.945	0.959	0.85 ≤ CFI ≤ 0.95
NFI	0.924	0.939	0.85 ≤ NFI ≤ 0.95
NNFI	0.940	0.956	0.85 ≤ NNFI ≤ 0.95

, both before and after modification.

When the fit index values of the research model were examined, it was seen that the variables in the model did not have acceptable fit values (Chi-Square/sd: 3.536 GFI: 0.818 AGFI: 0.794 RMSEA:0.063), and modifications were made by establishing a covariance connection between the first and second questions of the organizational dimension variable, as well as between the fifth and sixth questions of the organizational dimension variable, between the fourth and sixth questions of the environmental dimension variable, between the first and second questions of the intention to adopt blockchain technology variable, and between the first and second questions of the new product development variable.

After the necessary modifications were completed, it was seen that the Chi-Square/sd ratio was 2.879 below the reference value, the RMSEA value was 0.054, the GFI value was 0.850, the AGFI value was 0.829, the CFI value was 0.959, the NFI value was 0.939, and the NNFI(TLI) value was 0.956, and these values were at an acceptable level of fit. In addition, the results obtained show that the research model as a whole is statistically significant.

In order to test the hypotheses developed in line with the research purpose, the standardized coefficients, error variances, t-values, and significance levels (p-values) for the relationships between the variables are shown in

Table 8. Coefficients and significance levels between the research model variables.

Hypotheses	Structural Relationship	Standard Value	Error Variance	t-Value	p-Value
H1	Technological Dimension → Intention to Adopt	1.873	1.331	1.407	0.160
H2	Organizational Dimension → Intention to Adopt	−0.164	1.457	−0.112	0.911
H3	Environmental Dimension → Intention to Adopt	−0.538	0.369	−1.456	0.146
H4	Intention to Adopt → Adoption	0.961	0.033	28.749	***
H5	Adoption → New Product Development	0.536	0.200	2.681	0.007
H6	Adoption → Supply Chain Transparency	1.064	0.036	29.554	***
H7	Supply Chain Transparency → New Product Development	0.227	0.094	2.413	0.016
H8	Adoption → Supplier Trust	1.029	0.036	28.868	***
H9	Supplier Trust → New Product Development	0.280	0.138	2.030	0.042

***: p ≤ 0.0001.

.

According to the results of the structural equation model analysis, the H₁ hypothesis was rejected because the “Technological dimension positively affects the intention to adopt blockchain technology” hypothesis was p ≥ 0.05.

Hypothesis H₂ was rejected because the hypothesis “Organizational dimension positively affects the intention to adopt blockchain technology” was p ≥ 0.05.

Similarly, hypothesis H₃ was also rejected because the hypothesis “Environmental dimension positively affects the intention to adopt blockchain technology” was p ≥ 0.05.

The intention to adopt blockchain technology has a statistically significant effect on the adoption of blockchain technology. In line with this result, hypothesis H₄ was accepted (p ≤ 0.05). In other words, when the intention to adopt blockchain technology increases, the adoption of blockchain technology will also increase positively.

Adopting blockchain technology has a statistically significant effect on new product development. In line with this result, hypothesis H₅ was accepted (p ≤ 0.05). In other words, when the adoption of blockchain technology increases, new product development will also increase positively.

In addition to this information, the adoption of blockchain technology has a statistically significant effect on supply chain transparency and supplier trust. Accordingly, hypotheses H₆ and H₈ were accepted (p ≤ 0.05). In other words, as the adoption of blockchain technology increases, supply chain transparency and supplier trust will also increase positively.

At the same time, supply chain transparency and supplier trust also have a statistically significant effect on new product development. Accordingly, hypotheses H₇ and H₉ were accepted (p ≤ 0.05). In other words, as supply chain transparency and supplier trust increase, new product development will also increase positively.

Accordingly, the acceptance and rejection statuses of the hypotheses of the research model are shown in

Table 9. Acceptance and rejection statuses of the hypotheses of the research model.

Hypotheses	Acceptance and Rejection Status
H1: Technological dimension positively affects the intention to adopt blockchain technology.	Reject
H2: Organizational dimension positively affects the intention to adopt blockchain technology.	Reject
H3: Environmental dimension positively affects the intention to adopt blockchain technology.	Reject
H4: Intention to adopt blockchain technology positively affects blockchain technology adoption.	Accept
H5: Adoption of blockchain technology positively affects new product development.	Accept

.

4.6. Testing the Madiation Effect

Mediation analysis is a widely used estimation method in research conducted in the field of social sciences. This method defines the indirect relationship between dependent and independent variables. In other words, it allows analyzing the relationship between the independent variable and the mediator variable. At this point, the mediator variable is in the position of a variable that is estimated with the independent variable and acts as the dependent variable.

In the relationship between variables, it is desired for the independent variables to have a high correlation with the dependent variables and for the independent variables to have a low correlation with each other [96]. In line with the mediation approach of Baron and Kenny, which is called the causal steps approach, the existence of the mediator effect develops depending on 4 conditions. These conditions are as follows [97]:

• The total effect of the independent variable on the dependent variable must be statistically significant.
• The independent variable must affect the mediator variable statistically significantly.
• The mediator variable must affect the dependent variable statistically significantly.
• If the effect of the independent variable on the dependent variable decreases in the last regression, the mediation is expressed as “partial mediation”; if it disappears completely, it is expressed as “full mediation”.

4.6.1. Examining the Mediating Effect of the Supply Chain Transparency Variable

To determine the mediating role of supply chain transparency in the effect of blockchain technology adoption on new product development, Model 4 in the process macro add-on in the SPSS package program was selected, and hierarchical regression analysis was performed. The results obtained from the study are shown in

Table 10. The mediating role of supply chain transparency in the effect of blockchain technology adoption on new product development.

Hypothesis	Stages	β	SH	F	t	p	LLCI	ULCI	R2
H6 BZTB > TZS > YUG	1 BZTB > YUG	0.95	0.01	2878.71	53.65	0.00	0.92	0.99	0.81
	2 BZTB > TZS	0.88	0.01	4025.64	63.44	0.00	0.85	0.90	0.86
	3 TZS > YUG	0.65	0.04	2059.25	15.12	0.00	0.57	0.74	0.86
Mediator Effect		Effect		BootSH		BootLLCI		BootULCI
		0.546		0.046		0.455		0.638
Sobel Test		p = 0.000		Z (Test Statistic Value) = 4.805

BZTB: Blockchain Technology Adoption, TZS: Supply Chain Transparency, YUG: New Product Development.

.

As seen in the table, according to the mediation effect results, in the first stage, adopting blockchain technology has a positive effect on new product development (β = 0.957); in the second stage, adopting blockchain technology has a positive effect on supply chain transparency (β = 0.882); in the third stage, supply chain transparency has a positive effect on new product development (β = 0.655). According to the mediation effect results, since the condition of not being zero between the BootLLCI values indicating a low reliability interval and the BootULCI values indicating a high reliability interval (0.455–0.638) is provided, it is seen that there is a mediation effect of supply chain transparency between adopting blockchain technology and new product development (β = 0.546). To decide on the type of mediation effect, the p-value was examined, and it was seen that the p-value was less than 0.05. Thus, it was understood that this effect was a partial mediation effect. In addition to this analysis, the existence of the mediation effect was questioned again with the Sobel test. According to the Sobel test results (p = 0.000 < 0.05), since the Z scores are greater than 1.96 (4.805 > 1.96), it has been proven again that there is a mediation effect. Based on this finding, the H6 hypothesis (Supply chain transparency variable has a mediating role in the relationship between blockchain technology adoption and new product development) has been accepted. In other words, supply chain transparency has a partial mediating role by reducing the effect of blockchain technology adoption on new product development.

4.6.2. Examining the Mediating Effect of the Supplier Trust Variable

In order to determine the mediating role of supplier trust in the effect of adopting blockchain technology on new product development, Model 4 in the Process Macro add-on in the SPSS package program was selected, and hierarchical regression analysis was performed. The results obtained from the study are shown in

Table 11. The mediating role of supplier trust in the effect of adopting blockchain technology on new product development.

Hypothesis	Stages	β	SH	F		t	p	LLCI	ULCI	R2
H7 BZTB > TG > YUG	1 BZTB > YUG	0.95	0.01	2878.71		53.65	0.00	0.92	0.99	0.81
	2 BZTB > TG	0.92	0.01	4145.95		64.38	0.00	0.89	0.95	0.86
	3 TG > YUG	0.59	0.04	1959.31		13.85	0.00	0.50	0.67	0.85
Mediator Effect		Effect		BootSH	BootLLCI				BootULCI
		0.546		0.046	0.455				0.638
Sobel Test		p = 0.000		Z (Test Statistic Value) = 5.222

BZTB: Blockchain Technology Adoption, TG: Supplier Trust, YUG: New Product Development.

.

As seen in the table, according to the mediation effect results, it was seen that in the first stage, adopting blockchain technology had a positive effect on new product development (β = 0.957); in the second stage, adopting blockchain technology had a positive effect on supplier trust (β = 0.927); in the third stage, supplier trust had a positive effect on new product development (β = 0.592). According to the mediation effect results, since the condition of not being zero between the BootLLCI values indicating low reliability interval and the BootULCI values indicating high reliability interval (0.431–0.606) was provided, it was seen that there was a mediation effect of supplier trust between adopting blockchain technology and new product development (β = 0.518). To decide on the type of mediation effect, the p-value was examined, and it was seen that the p-value was less than 0.05. Thus, it was understood that this effect was a partial mediation effect. In addition to this analysis, the existence of the mediation effect was questioned again with the Sobel test.

According to the Sobel test results (p = 0.000 < 0.05), since the Z scores were greater than 1.96 (5.222 > 1.96), it was proven again that there was a mediation effect. Based on this finding, hypothesis H7 (Supplier trust variable has a mediating role in the relationship between blockchain technology adoption and new product development) was accepted. In other words, supplier trust played a partial mediating role by reducing the effect of blockchain technology adoption on new product development. The acceptance and rejection status of the hypotheses for the mediating variable analysis are shown in

Table 12. Hypothesis Acceptance and Rejection Statuses of Mediator Variable Analysis.

Hypotheses	Acceptance and Rejection Status
H6: Supply chain transparency variable has a mediating role in the relationship between blockchain technology adoption and new product development	Accepted
H7: Supplier trust variable has a mediating role in the relationship between blockchain technology adoption and new product development	Accepted

.

5. Conclusions

In the competitive global environment, the diversity of consumer demands and the rapid change of technology push businesses to catch up with change and even innovate to survive. In this environment where competition is intense, and change is developing very quickly, achieving success in the market becomes possible by developing unique, high-quality, new features, high value-in-use, long product life cycles, and difficult-to-imitate products. Businesses catch up with the change in the market through the supply chain, respond to innovations, and transform this situation into business opportunities. In this process, many businesses benefit from information technologies to compete with their competitors by reducing costs and producing in line with consumer demands. Blockchain technology, one of the information technologies, is a promising technology used by many businesses. In this context, the blockchain technology used provides simultaneous sharing, tracking, and immutability of data among supply chain members. By using blockchain technology in supply chain management, transparency is ensured, and a sense of trust develops among stakeholders. In this way, the new product development process becomes more effective and easier for businesses. In light of this information, the purpose of the research is to determine the impact of adopting blockchain technology in supply chain management on new product development, to determine the opinions of purchasing managers on supply chain integration, process knowledge, and the role of blockchain in new product development, and to determine the mediating role of supply chain transparency and supplier trust in the relationship between blockchain technology adoption and new product development variables. The following results were obtained from the research conducted for this purpose.

The majority of the participants are male undergraduate graduates and supply chain management department managers between the ages of 40 and 49. It was determined that the field of activity of most of the participating enterprises is automotive, the duration of activity is 21–30 years, the legal structure is a joint-stock company, the number of employees is 2251–3250, the duration of working with the same supplier is 16–20 years, the capital structure is foreign partnership, the market structure is both markets (domestic and international) and the annual net sales revenue is between 101 million TRY and500 million TRY. Participants’ perceptions of the technological dimension, organizational dimension, environmental dimension, intention to adopt blockchain technology, blockchain technology adoption, supply chain transparency, supplier trust, and new product development were measured, and the statements with the highest levels of agreement are listed below.

“The main feature of blockchain technology is that it makes all recorded data available to all network participants almost continuously”.

“Adoption and implementation of blockchain technology require extensive technological investments. Your company’s sufficient financial resources support such investments”.

“Your company needs to implement blockchain technology to become a leader in its sector”.

“Your company plans to digitally transform its supply chain management through blockchain technologies”.

“Commercial activities in your company invest resources in blockchain-enabled supply chain applications”.

“Blockchain technology enables information sharing with suppliers and vendors about production, assembly, delivery, and maintenance processes”.

“Trust is necessary for technological success”.

“Your company is rapidly developing a new product for the market by using blockchain technology in its supply chain”.

It can be deduced from the above statements that the participants think that by using blockchain technology in supply chain management, data can be used in all supply processes and by all network participants and that new products can be quickly introduced to the market. In addition, the participants believe that digital transformation should be realized by having financial resources for the use of blockchain technology and by supporting such investments. At this point, the importance of trust among stakeholders for technological success is emphasized.

Validity and reliability analyses of the model created within the scope of the research were conducted. As a result of the analyses, the reliability levels of the scales belonging to the eight variables in the model were found to be high. In addition, explanatory and confirmatory factor analyses were conducted to reveal the validity of the scale. Necessary modifications were made in the confirmatory factor analysis, scale expressions not included in the fit values were removed, and structural equation analysis was used to test the hypotheses. When the research examined whether the technological dimension affects the intention to adopt blockchain technology, it was seen that the technological dimension does not affect the intention to adopt blockchain technology. Accordingly, the research’s H₁ hypothesis (H₁: Technological dimension positively affects the intention to adopt blockchain technology) was rejected. When the organizational dimension affects the intention to adopt blockchain technology, it was seen that the organizational dimension does not affect the intention to adopt blockchain technology. Accordingly, the research’s H₂ hypothesis (H₂: Organizational dimension positively affects the intention to adopt blockchain technology) was rejected. When the environmental dimension affects the intention to adopt blockchain technology, it was seen that the environmental dimension does not affect the intention to adopt blockchain technology. Accordingly, the research’s H₃ hypothesis (H₃: Environmental dimension positively affects the intention to adopt blockchain technology) was rejected. These results differ from the studies conducted by Mishra et al. [98], Chittipaka et al. [55], Shahzad et al. [12], Hashimy et al. [66], and Kumar Bhardwaj et al. [4], which were obtained by scanning the theory.

In other words, these dimensions mentioned do not affect the intention to adopt blockchain technology. It can be thought that the reason for this situation is the technology acceptance models used. There is a possibility that different results may be obtained in the use of different technology models. From a different perspective, since blockchain technology is a very new technology in Turkey, the necessity of blockchain technology may be understood, but the enterprise may not be ready for this technology in terms of technological, organizational, and environmental dimensions. The same results can be encountered not only in terms of blockchain technology but also in studies conducted within the scope of the adoption of other elements of Industry 4.0. In this direction, researchers who study these topics may encounter the same results. At this point, this study can provide theoretical support to those who conduct research. In addition, the reason why the hypotheses of other studies were accepted may be because they were conducted in countries where the level of development of blockchain technology is high.

When it was examined whether the intention to adopt blockchain technology affects the adoption of blockchain technology, it was seen that the intention to adopt blockchain technology affects the adoption of blockchain technology. In this direction, the H₄ hypothesis of the research (H₄: The intention to adopt blockchain technology positively affects the adoption of blockchain technology) was accepted. This result is compatible with the studies conducted by Shahazad et al. [12], Kamble et al. [5], and Hashimy et al. [66]. Adoption intention expresses the desire of businesses to use new technologies. When businesses are willing to use technology, their use of that technology is positively affected [12].

When it was examined whether the adoption of blockchain technology affects new product development, it was seen that the adoption of blockchain technology affects new product development. In this direction, the H₅ hypothesis of the research (H₅: Adoption of blockchain technology positively affects new product development) was accepted. This result is compatible with the studies conducted by Benzidia et al. [6], Wan et al. [72], and Mishra et al. [98]. The adoption of blockchain technology and its use by businesses improve innovation activities [6]. Blockchain technology has a strong impact on new product development [94]. The fact that studies on innovation generally concern computer science, while this research adapts innovation to production, creates originality. The adoption of blockchain by businesses positively affects new product development.

Within the scope of the research model, it was investigated whether the supply chain transparency variable has a mediating role in the relationship between blockchain technology adoption and new product development. As a result of the mediation test, it was observed that supply chain transparency has a partial mediating effect. In other words, supply chain transparency played a partial mediating role by reducing the effect of blockchain technology adoption on new product development. In this direction, the H₆ hypothesis (H₆: The supply chain transparency variable has a mediating role in the relationship between blockchain technology adoption and new product development) was accepted. This result shows that blockchain technology adoption influences supply chain transparency, and supply chain transparency has an effect on new product development. These results are consistent with the studies conducted by Rashid et al. [61] and Yunlin [99]. Uncertainty in supply chains is not a desired situation for businesses that are members of the chain. The importance that businesses attach to transparency affects the decisions they make. Thus, ensuring transparency in the supply chain both strengthens the relationships established with suppliers and becomes an important element in new product development [97]. To summarize, supply chain transparency facilitates the adoption of blockchain technology and makes new product development more likely. Therefore, ensuring supply chain transparency affects the effectiveness of the blockchain technology adoption process in providing supply chain transparency and the optimal increase in new product development. Within the scope of the research model, it was examined whether the supplier trust variable has a mediating role in the relationship between blockchain technology adoption and new product development. As a result of the mediation test, it was seen that supplier trust has a partial mediating effect. In other words, supplier trust played a partial mediating role by reducing the effect of blockchain technology adoption on new product development. In this direction, the H₇ hypothesis (H₇: Supplier trust variable has a mediating role in the relationship between blockchain technology adoption and new product development) was accepted. This result shows that adopting blockchain technology affects supplier trust and supplier trust in new product development. These results are consistent with the studies conducted by Rashid et al. [61] and Alsmadi et al. [100].

When businesses trust their suppliers, it makes it easier for them to adopt blockchain technology and makes new product development more likely. Therefore, ensuring supplier trust affects the blockchain technology adoption process’ impact on supplier trust and the optimal increase in new product development.

6. Discussion and Suggestions

This research differs from the existing literature in that most of the previous studies on the subject are qualitative, focus on the barriers to adopting blockchain technology and the effect of adopting blockchain technology on supply chain performance, and focus on studies in the field of computer science. Thus, the gaps in the literature were filled, and a significant contribution was made to theoretical knowledge.

6.1. Theoretical Implications

The research measured the perceptions of business managers toward adopting blockchain technology. As a result of the measurement, it was determined that a digital transformation through blockchain technology, technological and organizational preparation for the adoption of blockchain technology, financial support for the business, and the development of mutual trust with suppliers are necessary. In this period of the Industry 4.0 era, digital transformation is effective at every point. It is becoming mandatory to use it, especially in supply chain management. The fact that blockchain technology is an increasingly developing technology has transformed the supply chain from a traditional to a modern structure. Having sufficient financing for the adoption of blockchain technology, the suitability of the company’s technological infrastructure, and the preparations made as an organization increase the possibility of adopting blockchain technology [12]. At the same time, ensuring supply chain transparency and a sense of mutual trust with suppliers improves cooperation between businesses, increases productivity, facilitates new product development, and is effective in the decisions of businesses regarding supply chain management [8]. At this point, it offers ideas to other business managers and policymakers for adopting blockchain technology. It emphasizes which points managers should focus on in adopting technology. It is guiding in this context.

The research focused not only on technological, organizational, and environmental factors but also on supply chain transparency, supplier trust, and new product development. The results obtained contribute to the literature and try to fill the information gap. It was determined that adopting blockchain technology is effective in new product development and the role of blockchain technology in new product development.

As a result, it is thought that the research will contribute to managers in supply chain management and new product development of blockchain technology, to understanding the importance of blockchain technology, and to businesses that are undecided about implementing blockchain technology.

6.2. Suggestions

ISO 1000 companies were selected as the main mass in the research. In other studies to be conducted, the main mass can be selected from different companies. Changing the population will also create changes in the research results. In research, technology, organization, environment, and technology acceptance models were combined and used for adopting blockchain technology. Different models can be used in future studies. The qualitative nature of the studies conducted can ensure that future studies are quantitative and concrete data is presented. It is recommended that managers who benefit from this research adopt new technologies and support their employees in this regard by showing the importance of using blockchain technology in the supply chain. In addition, the model created is a model aimed at testing the mediating effect based on a linear causality relationship. In future studies, the causality relationship can be established between different variables, and analysis can be made within the scope of not only the mediating effect but also the regulatory effect. At the same time, different analyses can be made by establishing the direction of the relationships in the model as bidirectional rather than unidirectional.