An algorithmic model for blockchain maturity levels: A cross-country perspective

The rapid adoption of blockchain technology and cryptocurrencies has largely occurred in an unstructured manner and without the use of any tools that assess blockchain adoption and maturity. This causes a lot of issues regarding the efficiency of the decision-making process, the development of appropriate regulatory frameworks, as well as the assessment of the measures taken. To address this issue, we designed and introduce the Blockchain Readiness Index (BRI), an innovative tool that evaluates countries" readiness for blockchain adoption. Our solution provides a comprehensive evaluation of blockchain engagement worldwide and is based on four main pillars, namely: regulation, technological advancements, industry activity, and local interest. The proposed BRI tool was tested through a survey. Empirical data was collected from 320 participants with a high level of proficiency in blockchain technology, showing the usability and reliability of BRI. The proposed tool can be used to facilitate informed decision-making in both the public and private sectors.