The Indian economy, driven by multiple digital initiatives in the past couple of years, is considered as a fast-growing economy among developing countries. In digital initiatives, Blockchain is one of the promising technologies with potential to transform organizations in particular public sector organizations. There are concerns related to the nature of Blockchain technology and benefits offered by the same in organizational settings. This study attempts to identify critical factors influencing Blockchain technology adoption in public sector organizations. This research attempts to develop a theoretical framework for value based Blockchain technology adoption by integrating task-technology-fit theory, transaction cost theory, and the unified theory of acceptance and use of technology (UTAUT) in Indian public sector organizations. The proposed research framework may provide insights to public sector organizations, technology service providers, academicians and researchers. Researchers may collect data from public sector organizations to test the proposed research framework using structural equation modeling or other statistical models. This is a working paper and intends to further test the proposed theoretical model as the ongoing work.