A Typology of Blockchain Technology Applications and Adoption Among Small and Medium-Sized Enterprises

The article aims to provide a comprehensive examination of how small and medium-sized enterprises (SMEs) apply and adopt blockchain technology. Although blockchain has gained widespread attention for its transformative potential in ensuring transparency, security, and immutability across industries such as finance, healthcare, and supply chain management, its implementation within SMEs remains underexplored. Using a narrative and critical literature review, the study identifies key application areas, as well as the main drivers and barriers influencing blockchain adoption among SMEs. It finds that supply chain and finance are the most prominent sectors adopting blockchain due to their complex, multi-stakeholder environments and issues of information asymmetry. However, challenges such as technological complexity, regulatory uncertainty, and limited digital capabilities hinder broader adoption. The study emphasizes the need for tailored blockchain solutions, particularly through Blockchain-as-a-Service (BaaS), and highlights the role of governments, regulators, and SME associations in improving technological literacy. By presenting a structured classification of blockchain applications, along with an analysis of adoption drivers, barriers, and future research directions, this research contributes valuable insights to advancing the understanding and strategic integration of blockchain technology in SMEs.