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To address the complex structure of businesses that have public goods, it is important to develop sustainable blockchain-based business models.<\/jats:p><\/jats:sec><jats:sec><jats:title content-type=\"abstract-subheading\">Design\/methodology\/approach<\/jats:title><jats:p>This study offers the first qualitative research that uses an integrated technological, environmental and organizational (TOE) framework with technology acceptance theory (TAM) to study the adoption of blockchain technology by Spanish firms.<\/jats:p><\/jats:sec><jats:sec><jats:title content-type=\"abstract-subheading\">Findings<\/jats:title><jats:p>The results of the paper discuss how that competitive pressure, competence, top management support and relative advantage have a positive impact on intention to adopt blockchain technology while complexity affects the intention to adopt the technology negatively. 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