| Author: | Wong, Chi Cheong |
| Title: | Leveraging TOE framework and DOI theory to tokenisation applications for supply chain financing : a case study of project dynamo in Hong Kong SAR |
| Advisors: | Xu, Xin (MM) Sin, Charleston (MM) |
| Degree: | DFinTech |
| Year: | 2025 |
| Department: | Faculty of Business |
| Pages: | 385 pages : color illustrations |
| Language: | English |
| Abstract: | This research addresses the global liquidity challenges faced by small and medium-sized enterprises (SMEs) in international trade, with a specific focus on facilitating the mass adoption of tokenization in supply chain finance through Project Dynamo. By leveraging the Diffusion of Innovation (DOI) theory and the Technology-Organization-Environment (TOE) framework, the study critically examines the barriers and enablers associated with crossing the chasm from early adoption to mainstream acceptance of digital trade tokens in the context of Hong Kong. The primary objective is to generate actionable insights for policymakers, financial institutions, and other stakeholders to accelerate the widespread adoption of digital trade tokens. The findings highlight the imperative for clear regulatory frameworks, comprehensive stakeholder education, and effective strategies for managing organizational change and mitigating security risks, thereby supporting SMEs in maintaining competitiveness within the global marketplace. A mixed-methods research design is employed, integrating both qualitative and quantitative approaches. Data collection methods include expert interviews, focus groups, case studies, and surveys, providing a comprehensive understanding of the factors influencing the adoption and diffusion of digital trade tokens in supply chain finance. The study identifies several critical challenges confronting banks, enterprises, and regulatory authorities, such as regulatory uncertainty, resistance to change, limited stakeholder knowledge, interoperability issues, and perceived security risks. These challenges are analysed in the context of their impact on the ability of Project Dynamo to achieve mass adoption and successfully cross the chasm. Based on these insights, the research offers targeted recommendations for key stakeholders. For regulatory bodies, the development of clear and consistent policies for digital trade tokens is advocated. For banks and enterprises, the focus is on change management, stakeholder education, enhancing interoperability, and implementing robust security measures. The study also provides strategic guidance for stakeholders seeking to overcome adoption barriers and offers policy recommendations to facilitate the successful scaling of Project Dynamo. Qualitative analysis is utilized to identify the most significant factors influencing the adoption of digital trade tokens, thereby informing the prioritization of interventions and the development of targeted strategies to support mass adoption. The research is anchored in the integration of the TOE framework and DOI theory, offering a comprehensive perspective on the complex dynamics influencing technology adoption and diffusion in this context. Finally, the study situates its findings within the broader landscape of global supply chain management and international trade development, drawing on insights from international forums to enhance the generalizability and practical relevance of its conclusions, with the ultimate aim of supporting Project Dynamo in achieving mass adoption and crossing the chasm to mainstream acceptance. |
| Rights: | All rights reserved |
| Access: | restricted access |
Files in This Item:
| File | Description | Size | Format | |
|---|---|---|---|---|
| 8437.pdf | For All Users (off-campus access for PolyU Staff & Students only) | 5.35 MB | Adobe PDF | View/Open |
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