This research acknowledges the increasing significance of blockchain technology and emphasizes the importance of countries understanding their preparedness for its adoption. With blockchain evolving in various sectors, it becomes crucial for nations to evaluate their level of blockchain maturity and their suitability for hosting blockchain-based activities. Unfortunately, there is currently a lack of comprehensive tools available for such assessments. To address this gap, the research proposes the design of a Blockchain Readiness Index (BRI). The BRI is a composite index that combines a wide range of indicators from diverse sources, aggregating them into a single score. This quantitative methodology (index) enables the assessment of blockchain adoption on a per- country basis. The index developed in this study differentiates between the most promising and non-hostile countries, serving as a foundation for the professional endeavours, decision-making processes, and operations of organizations, investors, academics, and other stakeholders within the blockchain industry. This research initially presents an overview of the landscape of similar attempts to design such indexes by reviewing and identifying potential gaps and opportunities for improving their methodological design, leading to more relevant conclusions. In addition, the research aims to contribute toward a systematic methodology for building a BRI using techniques from the information retrieval domain to normalize the non-normalized values and a cosine similarity measure to derive an index ranking that assesses countries globally. More specifically, the proposed BRI covers a wide range of blockchain and technological-oriented indicators, which are organized into the following “pillars”: (1) Regulation, (2) Technological Advancement, (3) Blockchain Industry Presence, and (4) Local Users Engagement. The methodology of this tool includes the selection of indicators according to community’s assessment. This process includes assessing indicators of previously established scientific indexes and a survey gathering data from academically qualified participants who are providing the significance of suggested indicators by voting on weights. An additional characteristic which is embedded into the methodology is the flexibility on the weighting of indicators according to the end user’s preferences. Besides relying on the judgment of academically qualified participants to suggest the importance of indicators, the study aims to provide additional flexibility by introducing three different variations of the BRI. Specifically, a) The BRI Standard Version, which assumes equal weighting of indicators, b) The BRI Community-Driven Version, which relies on the judgment of survey participants;