Blockchain technology brings new opportunities and has the ability to solve current flaws with our traditional central systems, still, blockchain is not a common practice. This thesis revolves around vital factors that affect the implementation of blockchain (BC) technology in modern business. By identifying the potential advantages for BC systems, we look at why BC systems are not commonly applied in organizations. There seem to be several factors within three categories; technological, organizational, and environmental (TOE) that serve as obstacles or opportunities for the modern business to adopt blockchain technology despite the apparent advantages that the innovation promotes.

The purpose is to identify what factors from a TOE perspective play a decisive role in the adoption process of innovations, in this case, BC. The aim is to confirm factors from previous research and contribute with new factors within the TOE framework that can assist modern business in the adoption process. Empirical data of this thesis are derived from interviews from various organizations from different industries, which is analyzed by content analysis method. 

The main limitation of this thesis is the lack of knowledge regarding BC technology among employees of organizations. A significant challenge has been to find possible interview participants to collect data necessary for the research question.  Despite that, we succeeded in collecting enough data to be able to answer our research question. This thesis confirms and contributes to new factors in the field of blockchain adoption in modern business.