Determinants of user's behavioural intention to use blockchain technology in the digital banking services

Abstract

The growing popularity of blockchain applications in various sectors has widely been renowned as a pioneering technological innovation that can speed up many bursts of creativity and bring out an exceptional level of digital innovation. The adoption of IT, automation, and technological advancement has shown lethargy in the implementation of new technologies in developing economies. The objective is to examine users' behavioural intention to use blockchain technology for enlightening digital banking services. A conceptual framework for blockchain adoption is developed with the technology acceptance models of a UTAUT by incorporating financial literacy and perceived risk factors. PLS-SEM using SmartPLS 3.0 results show that social influence, financial literacy, and perceived risk have significantly influenced the behavioural intention to use blockchain technology in digital banking services. The social significance of this study recommends that financial institutions and decision-makers must design a blockchain application that facilitates users to accept in the banking sector.