Blockchain technology holds significant promise for driving innovations across diverse industries, businesses, and applications. Recognized as a crucial source of competitive advantage in a fast-evolving environment, blockchain is anticipated to contribute substantially to sustainable economic and social development. Despite these high expectations, many blockchain projects currently face high failure rates, leading to negative impacts on various aspects of economic and social sustainability, including corporate governance, risk management, financial management, human resources, culture management, and competitiveness. This paper evaluates adoption models, identifying both risk and success factors. It introduces an integrated adoption model designed to operationalize, measure, and manage blockchain-driven business innovation sustainably. An empirical study involving 20 industry sectors and 125 business leaders was conducted to assess the model’s applicability. The findings indicate that the adoption model has the potential to support the sustainable implementation of blockchain technology for business innovations across various industries and applications. Future research and industry activities should continue validating this model through further case studies.
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