Blockchain Technology (BCT), introduced with Bitcoin in 2008, has use cases in various organizations such as banking, supply chains, financial markets, cybersecurity, and healthcare. Over time, these use cases have increased due to BCT’s decentralized nature, elimination of third-party intermediaries, immutability, and transparency. This study aimed to investigate the possible synergy between Blockchain and Collaborative Research through the lens of researchers (users) working in collaborative research environments to determine how Blockchain can facilitate research collaboration in their respective organizations by addressing challenges associated with protecting intellectual property rights (IPR) and research data. The study used a qualitative methodology to understand researchers’ perceptions of how BCT can address the identified challenges by providing a secure, transparent, and decentralized framework. The study revealed that most participants understood BCT and perceived it beneficial for resolving collaborative research’s IPR and data challenges. The findings predominantly emphasize the need for increased practical use cases and Blockchain literacy. The study offers valuable insights and recommendations for organizations that intend to adopt BCT for collaborative research.