A Study on the Factors that are Essential for the Successful Implementation of Blockchain Technology in Sri Lankan University Systems

This Blockchain technology, known for its decentralized and immutable ledger capabilities, has the potential to revolutionize educational processes by enhancing security, transparency, and data integrity. To improve the educational experience for students, the university education industry in developed countries is continuously changing and incorporating blockchain technology into the university systems. When it comes to a developing country like Sri Lanka, the level of blockchain technology used by the university systems is very low. Therefore, as an initial step to implement blockchain technology in the Sri Lankan university system, this research identifies the critical factors that are necessary for the successful implementation of blockchain technology within the university systems in Sri Lanka and investigates how socio-economic factors impact this implementation. Systematic literature has been used to perform the study to identify and confirm key elements from earlier research. Thus, a conceptual framework was created and validated using information gathered through an online questionnaire survey. Partial Least Squares Structural Equation Modeling (PLS-SEM) was used in data analysis to provide accurate insights into the interactions between the identified factors. The findings of this study can serve as a valuable resource for policymakers, decision-makers, and university administrators, empowering them to make informed choices regarding blockchain technology in higher education.