With the recent growth of the sharing economy, businesses offering shared-kitchen services are expanding rapidly. Due to the communal nature of these kitchens, there is a heightened need for systematic food safety management. However, existing research on blockchain applications has largely overlooked shared kitchens, a complex setting with numerous stakeholders and sensitivity to real-time kitchen conditions. This study addresses this gap by proposing a blockchain-based food safety management system for shared kitchens. The systemâs functional requirements were meticulously outlined based on guidelines from South Koreaâs Ministry of Food and Drug Safety. Key participants were identified as system users, and use cases were crafted in alignment with their responsibilities and roles to ensure effective safety management. Additionally, the blockchain systemâs mechanisms for enhancing safety in shared kitchens were substantiated through specific use cases and detailed data structures, addressing issues related to forgery, alteration, and management challenges. This study also offers practical insights that can facilitate more structured safety management in shared-kitchen environments.
ABSTRACT The exponential growth of the online luxury resale market has spurred a notable shift toward a circular economy, reflecting the increasing consumer preference for preâowned luxury items. Nevertheless, this growth presents challenges related to product authenticity and seller credibility. In response to these concerns, blockchain technology (BT) emerges as a promising solution, leveraging a decentralized ledger to enhance transparency and reduce information asymmetry. This allows for the traceability of preâowned luxury goods, addressing issues of provenance and authenticity in the online resale space. By incorporating regulatory focus theory into the uncertainty reduction theory, this study examines how approach and avoidance motivations impact evaluations of BTâenabled platforms to effectively mitigate consumer uncertainties and influence trust. The collected data (N= 511) was analyzed through partial least squares structural equation modeling (PLSâSEM; study 1), and a complementary qualitative study (study 2) was additionally conducted. Results reveal that distinct motivations coexist, each following separate pathways to build consumer trust. Findings indicate that an approach orientation mindset highly values the reliability of BTâenabled information, while an avoidance orientation focuses on risk mitigation and expresses heightened uncertainty in online transactions. Consequently, BT is found to be instrumental in reducing consumer concerns about purchasing preâowned luxury products. The study contributes to the existing literature by shedding light on the psychological dynamics influencing consumer trust in BTâenabled platforms, has implications for luxury retailers contemplating BT integration, and offers insights into consumer behavior that can inform strategies to enhance perceived trust in online luxury resale.
Cong Doanh Duong, Thi Van Hoa Tran, Thanh Hieu Nguyen, Thi Viet Nga Ngo · 5 authors
Blockchain technology is increasingly recognized as a transformative tool for enhancing clarity and responsibility in the organic food supply chain , where concerns about product authenticity and safety are paramount. By offering provable and translucent information about the origination , production processes, and administration of organic items, blockchain helps to reduce information asymmetry and builds consumer trust, which is critical for purchase decisions in the organic food market. Drawing on insights from the trust theory and the stimulus-organism-response framework, this study uses a moderated mediation model to explore how technology anxiety negatively moderates the direct and indirect influences of blockchain-based food traceability systems on trust in organic food products and organic food purchase intention. Using a targeted sample of 5326 consumers in Vietnam, the PROCESS macro approach (models 8 and 4) is utilized to examine the formulated hypotheses. The results demonstrate that blockchain-based food traceability systems notably enhance consumer trust in organic food products and their intention to buy these products. Trust in organic food products serves as a mediator in the connection between blockchain-based traceability and purchase intention, while technology anxiety weakens the positive impacts of blockchain technology on trust and purchase intention when anxiety levels are high. This research makes crucial contributions to the literature by offering a mechanism-based explanation of how blockchain technology enhances consumer trust in organic food products and integrates technological anxiety as a moderator, providing a deeper understanding of how technological innovations shape consumer behavior. In light of the findings, several critical recommendations have been proposed for practitioners and policymakers.
Manuel Pedro RodrĂguez BolĂvar, Fabiana Sepe, Luana Nanu, Fabiana Roberto
Purpose This study aims to investigate the perceptions of service providers in the travel and hospitality industry toward the adoption of blockchain technology (BCT), focusing on its impact on consumer experiences and expectations, especially in terms of trustworthiness and the management of privacy and security concerns. Design/methodology/approach The research used a quantitative methodology, collecting data from 135 industry practitioners across five tourism sectors (lodging, connected industries, entertainment, FandB, transportation) in Europe. This approach aimed to understand the diverse perspectives on the benefits and challenges of implementing BCT in their opera Findings The results indicate mixed perceptions regarding blockchain adoption. While there are positive views on BCTâs potential to enhance customer experience and service quality, there are significant concerns about its impact on trust and security. A consensus exists between customer and provider perspectives on BCTâs trustworthiness, but significant differences were observed in views on privacy and security enhancement. Originality/value This research contributes to the existing literature by providing insights into the service providersâ and customersâ perspectives on BCT within the travel and hospitality industry. It underscores the complexities of adopting new technologies and calls for more in-depth studies to address the identified concerns, thereby offering a novel viewpoint on the adoption of distributed ledger technologies in enhancing customer experience and service delivery.
Jungkeun Kim, Areum Cho, Daniel Chaein Lee, Jooyoung Park · 7 authors
Non-fungible tokens (NFTs) are increasingly used to safeguard luxury products from counterfeits. Despite their increasing adoption, limited research has investigated how brands should communicate the use of NFTsâa novel and complex concept for consumers to comprehendâto maximize their benefits. This research aims to examine this gap by highlighting that the ease of visualization is critical for effective communication. Study 1A demonstrated that consumers prefer a visualized NFT to a non-visualized one for authenticating a luxury product. Study 1B further demonstrated that consumers place greater trust in a visualized NFT and are willing to pay higher prices for luxury products that utilize it. Study 2 demonstrated that consumers have more favorable attitudes toward a luxury product that features an easy-to-visualize NFT than those with a difficult-to-visualize NFT and that perceived authenticity mediates this effect. Finally, Study 3 demonstrated that the positive impacts of easy-to-visualize NFT cues were more significant for luxury than non-luxury products. Subsequently, this study suggests an effective communication strategy for NFT use and provides managerial implications for luxury brands aiming to maximize the benefits of using NFTs.
Open access
Consumer Behavior in Brand Consumption and Identification
This study navigates the intersection of luxury fashion brands and Non-Fungible Tokens (NFTs) in the digital realm. By examining customer segments within the luxury NFT market, this study unfolds insights into changing market trends, consumer behaviors, and brand strategies. Employing data mining approaches, XPath analysis and the k-means clustering algorithm, this study examines user characteristics and behavior on the OpenSea platform, the largest NFT marketplace, with a specific focus on the SUPERGUCCI NFT collection by Gucci. This study identifies three distinct clusters, namely, speculators, casual collectors, and cryptocurrency natives, as well as their characteristics and behavior. The findings illustrate the significant impact of NFTs on customer segmentation and engagement, offering strategic insights for luxury brands navigating technological advancements. As the luxury sector evolves, this study enhances understanding of NFTs' role in consumer engagement and retail strategy within the digital age.
Open access
Consumer Behavior in Brand Consumption and Identification
ABSTRACT Product quality is essential for companies' success because it is integral to meeting customers' expectations. In this context, blockchain technology (BT) offers potential solutions for tracking products' origins and flows, eliminating or reducing fraudulent activities efficiently and effectively. Drawing upon signaling theory, this study investigates how BT's traceability and transparency attributes can enhance consumers' urge to buy impulsively and impulsive buying behavior. The results reveal that transparency positively affects perceived product quality and trust in BTâenabled eâcommerce platforms. Moreover, traceability positively affects perceived product quality and product affection. The study also identifies that perceived product quality positively affects the urge to buy impulsively and product affection. In addition, product affection and consumers' trust positively affect the urge to buy impulsively and impulsive buying behavior. Furthermore, the urge to buy impulsively positively affects impulsive buying behavior. Finally, consumers' situations moderate the relationship between the urge to buy impulsively and impulsive buying behavior. The findings provide insight for eâcommerce platforms and sellers to refine marketing strategies by providing BTârelated signals.
Non Fungible Token (NFT) yang merupakan salah satu aset digital, kini mulai banyak digunakan oleh brand dalam strategi pemasaran mereka untuk lebih dekat dengan konsumen generasi muda. Teknologi baru ini dapat menjembatani antara dunia digital dengan produk fisik dan membentuk komunitas bagi brand. Popularitas dari NFT sendiri meningkat dalam beberapa tahun terakhir karena trend cryptocurrency dan pembelian NFT oleh celebrity. Tujuan dari penelitian ini yaitu untuk menganalisis hubungan customer knowledge dan product uniqueness terhadap purchase intention pada produk fashion NFT. Penelitian ini dilakukan pada 307 responden di Indonesia yang mengetahui mengenai fashion NFT dan brand yang memiliki produk tersebut. Hipotesis penelitian diuji dengan menggunakan metode Structural Equation Modeling (SEM). Hasil penelitian ini menunjukan hubungan positif dan signifikan antara customer knowledge dan product uniqueness dengan purchase intention. Selain itu, product uniqueness ditemukan dapat memediasi hubungan antara customer knowledge dengan purchase intention. Hasil dari penemuan pada penelitian ini memiliki implikasi untuk mengembangkan NFT dan brand lebih efektif, baik secara teori maupun praktik ke depannya.
Open access
Consumer Retail Behavior Studies
Consumer Behavior in Brand Consumption and Identification
Raâed Masaâdeh, Mustafa Musa Jaber, AbdelâAziz Ahmad Sharabati, Ahmad Yacoub Nasereddin · 5 authors
The goal of this research is to investigate blockchain technologyâs influence on digitizing courier supply chains and advancing Industry 4.0, which leads the digitization revolution by integrating blockchain to digitize processes that would serve the circular economy. It evaluates how blockchain enhances transparency, traceability, and digital processes in logistics, promoting sustainability through waste reduction and improved reuse. The study aims to identify the benefits and challenges of blockchain integration, develop a conceptual framework, and provide actionable insights to improve supply chain management, operational efficiency, and sustainability. This research uses a qualitative research method including a literature review as well as interviews for case studies to explore both the benefits and challenges when applying blockchain technology in courier organizations in Industry 4.0 within the circular economy. The results show that blockchain technology can enhance the security, traceability, and efficiency of courier supply chains, reduce theft, error risk, and fraud, as well as facilitate specific process automation via smart contracts. Blockchain technology can support the digital transformation of logistics organizations and enhance circular economy networks in Industry 4.0 by enabling automation, transparency, traceability, and maintaining responsibility for the environment. This research is an exploration of the effect of blockchain technology on the courier supply chain in the logistics firms in Industry 4.0 within the circular economy and the development of a conceptual framework for usage. In addition, it capitalizes on both coordination and collaboration among players through decentralization to obtain maximum fruitful benefits.
This study examined the role of cryptocurrencies in tourism and their acceptance across EU regions, with particular attention to the digital transformation precipitated by the COVID-19 pandemic. The analysis focuses on the relationship between cryptocurrency acceptance points and the intensity of tourism, highlighting that the acceptance of cryptocurrencies is significantly correlated with tourism services. The literature review highlighted that Web 3.0, especially blockchain technology and decentralized applications, opens new possibilities in tourism, including secure and transparent transactions, and more personalized travel experiences. The research investigated cryptocurrency acceptance points and the intensity of tourism within the EU. The study illuminates that the acceptance of cryptocurrencies significantly correlates with tourism services. The data and methodology demonstrated the analysis methods for examining the relationship between cryptocurrency acceptance points and tourism intensity, including the use of clustering neural networks and Eurostat data utilization. The results showed a positive correlation between the number of cryptocurrency acceptance points and tourism intensity in the EU, affirming the research hypothesis. According to the regression analysis results, each additional cryptocurrency acceptance point is associated with an increase in tourism intensity. The significance of the research lies in highlighting the growing role of digital payment solutions, especially cryptocurrencies, in tourism, and their potential impacts on the EU economy. The analysis supports that the intertwining of tourism and digital financial technologies opens new opportunities in the sector for both providers and tourists.
Purpose This study investigates the factors that lead to the adoption of blockchain technology through payment transactions and how this not only affects real estate (RE) and blockchain transparency but also RE performance. Design/methodology/approach Data gathered across RE firms in the United Arab Emirates (UAE) were employed to test the model. The measurement model and structural equation modeling (SEM) were used to test the items and the hypotheses illustrated in the proposed model. Findings Perceived financial benefits, competitive pressure and top manager support were demonstrated to successfully influence blockchain adoption (BA). Despite blockchainâs early stages of development, its impact on RE operations cannot be ignored and should be more objectively examined in order to gain a better understanding of it. UAE blockchain-based companies could be seen as having a competitive advantage that maximizes resource consumption. Originality/value This study introduces the positive influence of blockchain technology on RE payment transactions and may advance information on how blockchain technology has the potential to change the RE sector. The paper finds its significance in exploring how RE payment systems must change to remain competitive in the market amid emerging digitalization trends.
Although there is not yet a consolidated and shared definition of metaverse, this concept has established itself in recent years within the public debate, in particular within specific markets, such as in the case of fashion. We constantly read in specialized and non-specialized magazines, about brands who landed in the metaverse or opened their first store there, or released their first Non Fungible Tokens (NFTs ). However, the apparent concreteness of these statements corresponds to a widespread confusion from the consumersâ side. The aim of this article is to reflect, starting from the results of a qualitative research on international Millennials and Generation Zed consumers, on the meanings associated with the metaverse, on the overlap between it and the concepts of fashion digitalization and digital clothing; finally on the effective media literacy and expectations of who should be the target of these innovations. In particular, the goal is to investigate the well-known relation between fashion and individual self-presentation within the metaverse.
Blockchain has revolutionized the field of supply chain management, allowing firms to optimize their operations and achieve enhanced levels of efficiency and environmental responsibility. This study investigates the relationships between the functionalities of the blockchain-enabled Internet of Things (IoT) and many aspects of the supply chain, namely, supplier integration, internal integration, customer integration, and sustainable logistic capabilities. It also analyses the impact of these correlations on the supply chain performance and sustainability of firms. This study is grounded in an empirical inquiry carried out using a questionnaire survey of the retail industry in Pakistan. Partial Least Squares Structural Equation Modelling (PLS-SEM) was employed to analyze the data. The findings indicate a direct correlation between the use of BC-enabled Internet of Things (IoT) capabilities and the integration of the supply chain, as well as logistic capabilities. Furthermore, there is a strong and meaningful correlation between blockchain-enabled supply chain integration and sustainable logistic capabilities and firm performance. The research findings indicate that the combined impact of digital innovations results in higher levels of corporate performance and sustainability. By embracing digitization through blockchain technology, business organizations can attain supply chain excellence. This integration enhances the adoption of environmentally beneficial actions, minimizes waste, and decreases carbon emissions across supply chains, thus reinforcing the connection between sustainable firm performance and environmental sustainability. As a result, the enterprises may execute sustainably through improved logistical capabilities and effective integration. The results hold great theoretical and practical significance for improving supply chain management efficacy and accomplishing multiple SDGs, including SDG-8, SDG-9, SDG-11, and SDG-12.
Everyday life depends heavily on the supply chain, and its traceability guarantees the quality and safety of the products. Thus, there is a pressing need for an effective and trustworthy solution to enhance logistic traceability. Traditional traceability systems suffer from low tracking efficiency and inconsistent data. However, the developing blockchain technology promises to improve these issues by being transparent, tamper-proof, and decentralised. This article analyses previous research, highlights problems, and investigates logistic traceability options based on blockchain. First, the conventional traceability approach and stakeholder demands are explained, along with the fundamentals of blockchain technology. Next, a thorough evaluation and analysis of the current publications and enterprise applications is conducted. Lastly, difficulties and potential lines of inquiry are explored. Subsequent studies may concentrate on developing focused consensus processes, creating suitable access controls, examining the function of regulators in the supply chain, etc. This analysis demonstrates that although there are still many obstacles to overcome, blockchain offers a lot of promise to solve traceability problems.
Mengting Yu, Ludovica Principato, Marco Formentini, Giovanni Mattia · 7 authors
Food insecurity and food surplus are two pressing issues that have been exacerbated by the COVID-19 pandemic. This paper presents a novel approach to addressing these problems using blockchain technology. More specifically, data from the Italian Regusto platform are analysed to identify factors that determine the volume and economic value of surplus food redistribution. From a methodological statistical perspective, the performance of Stepwise Multiple Linear Regression and Random Forest are compared in a blockchain data analysis. The effective machine-learning-based analysis reveals that the Regusto platform gives people greater access to the surplus food redistributed by non-profit organisations and suppliers through both donations and sales. The study also highlights the potential effects of redistributing surplus food on the beneficiaries' diets and health and we find that redistributing surplus food can reduce household food insecurity among low-income families and communities measured by food poverty and COVID-19 indexes at different spatial locations. Overall, by offering a unique perspective on these issues through the lens of blockchain technology, our study can inspire further research on how this technology can ensure everyone has enough affordable, nutritious food to lead healthy lives.
Alessandro Petrontino, Michel Frem, Vincenzo Fucilli, Emanuela Tria · 6 authors
Introduction Pasta is a key product in Italyâs agri-food industry, consumed due to its ease of preparation, nutritional richness, and cultural importance. Evolving consumer awareness has prompted adaptations in the pasta market, to address concerns about social, environmental, quality, and food safety issues. This study examines Italian consumersâ willingness to pay (WTP) for pasta in local markets, analysing their behaviours and preferences. Methods For this purpose, we used a discrete choice experiment (DCE) technique combined with a latent variable model. We also collected 397 valid online questionnaires. Results and Discussion The results reveal an interest utility among all respondents to pay a price premium of âŹ1.16, âŹ0.82, âŹ0.62, âŹ0.41, and âŹ0.36 for 500 g of pasta, for the use of blockchain/QR code (BC) technology on the label, providing data on credence attributes such as safety, environmental and social sustainability as well as business innovative practices, respectively. As such, this research has private and public implications. On one hand, this research may bridge the scarcity in studies regarding consumer preferences and WTP for BC in the pasta value chain, preventing agricultural frauds, ensuring the sustainability and quality of agri-food products like pasta, and protecting and educating consumers through clear and transparent information. On the other hand, this research may incentivise pasta businesses to meet social and environmental consumersâ demands while simultaneously enhancing their financial performance.
The use of blockchain technology (BT) is transforming consumer behavior and enhancing business values, but its role in the context of mobile food delivery applications (MFDAs) is underexplored. Therefore, this study utilizes stimulusâorganismâresponse theory to determine consumers' willingness to pay more (WPM) and behavioral intention to use BT-enabled MFDAs. The empirical analysis was conducted using the structural equation modeling approach. The findings establish that traceability, transparency, and privacy assurance positively influence consumers' perceived values. Furthermore, IT knowledge positively moderates the relationships between privacy assurance, traceability, and perceived value. Further, perceived value positively impacts WPM and behavioral intention. Finally, consumers' trust in BT moderates the relationships between perceived value, WPM, and behavioral intention to use BT-enabled MFDAs. MFDA platforms should ensure the applicability of BT on a priority basis and operationalize it to meet consumersâ needs and demands.
Fulya Açikgöz, Nikolaos Stylos, Sophie Lythreatis
Purpose The purpose of this study synthesises the body of research revolving around blockchain technology (BCT) whilst drawing on the technology-organization-environment framework, resource-based theory and theory of constraints, to conceptualize capabilities (enablers) and constraints (barriers) of BCT in the hospitality and tourism (H&T) industry. Design/methodology/approach A systematic literature review of BCT in the hotel and tourism industry has been achieved through two databases, i.e. Scopus and Web of Science. From 544 articles selected between the years 2008 and 2023 (first quarter), a sample of 49 articles was used to structure existing research on this subject. Findings The findings of this systematic literature review of BCT in the H&T literature establish a solid groundwork for assessing the evolution of this research area over time. Findings are classified into two groups: capabilities (enablers) and constraints (barriers) of BCT based on publication year, different research methods, theoretical underpinnings and applicable contexts. Originality/value To the best of the authorsâ knowledge, this is one of the first attempts to synthesize studies related to BCT in H&T research by combining three theoretical approaches. It serves as a foundation to evaluate the development of BCT studies in this field.
Duc Tran, Hans De Steur, Xavier Gellynck, Andreas Papadakis · 5 authors
Purpose This study aims to investigate the impact of consumer ethnocentrism on consumers' evaluation of blockchain-based traceability information. It also examined how the use of quick response (QR) codes for traceability affects consumers' evaluation of traceable food products. Design/methodology/approach An online choice experiment was conducted to determine consumers' evaluation of the blockchain-based traceability of Feta cheese with a quota sample of 715 Greek consumers. Pearson bivariate correlation and mean comparison were used to examine the relationship between consumer ethnocentrism and QR use behaviour. Random parameter logit models were employed to examine consumersâ valuation of the examined attributes and interaction terms. Findings The results show that ethnocentric consumers are willing to pay more for blockchain-based traceability information. Ethnocentric consumers tend to scan QR codes with traceability information. Spending more time reading traceability information embedded in QR codes does not lead to a higher willingness-to-pay (WTP) for traceable food products. Practical implications The findings suggest that patriotic marketing messages can draw consumers' attention to blockchain-based traceability information. The modest WTP for and low familiarity with blockchain-based traceability systems raise the need for educating consumers regarding the benefits of blockchain in traceability systems. Originality/value This is the first study to provide timely empirical evidence of a positive WTP for blockchain-based traceability information for a processed dairy product. This study is the first to attempt to distinguish the effects of the intention to scan QR codes and reading information embedded in QR codes on consumersâ valuation of food attributes.
Open access
Consumer Behavior in Brand Consumption and Identification
Purpose This study aims to investigate the integration of blockchain technology into the food supply chain within the restaurant industry. It focuses on how blockchain can be applied to enhance transparency and trust in tracking food sources, ultimately impacting customer satisfaction. Design/methodology/approach A service design workshop (Study 1) and three between-subjects experiments (Studies 2â4) were conducted. Findings Results indicate that blockchain adoption significantly improves traceability and trust in the food supply chain. This improvement in turn enhances customer satisfaction through perceived improvements in food safety, quality and naturalness. This study also notes that the effects of blockchain technology vary depending on the type of restaurant (casual or fine dining) and its location (tourist destinations or residential areas). Practical implications The findings offer practical insights for restaurant owners, technology developers and policymakers. Emphasizing the benefits of blockchain adoption, this study guides decision-making regarding technology investments for enhancing customer service and satisfaction in the hospitality sector. Originality/value This research contributes novel insights to the field of technology innovation in the hospitality industry. It extends the understanding of signaling theory by exploring how blockchain technology can serve as a tool for signal transmission in restaurant food supply chains.
Open access
Consumer Retail Behavior Studies
Customer Service Quality and Loyalty
Consumer Behavior in Brand Consumption and Identification
Christopher GroĂmann, Katrin Merfeld, Jan F. Klein, Franziska Föller · 5 authors
While the sharing economy has promised to solve a range of problems associated with traditional consumption, the reality is more akin to its inability or even exacerbation of economic and societal issues. We propose that blockchain technology could address these issues. To this end, we explain its potential by elaborating on how blockchain-based sharing services can help solve exploitation, data abuse, financial and legal risks, and the limited accessibility of current sharing practices. Moreover, we conduct a meansâend chain analysis to provide a customerâs perspective on the motivations and fears related to blockchain-based sharing solutions. We find four motives (trust, self-determination, quality of life, and security) and two fears (mistrust and economic interest) related to blockchain-based sharing. By juxtaposing the potential benefits of blockchain-based shared services with customer insights, we provide an outline of research avenues for promoting blockchain-based sharing to overcome the current dark side of sharing practices.
Abstract Internet of Things (IoT)âbased financial systems leverage the capabilities of blockchain and artificial intelligence (AI) to enable seamless transactions and data exchange between devices. IoTâbased financial systems involve interconnected devices and services, such as payment terminals, wearables, and smart appliances, which collect, transmit, and process sensitive financial information. The study explores security methods incorporated in the financial systems designed using IoT and blockchain technologies to improve the background features. The study data were gathered from Complaint Data from the Consumer Financial Protection Bureau 2018â2022, and dataâbased analysis is used in this study for detecting illegitimate interrupted transactions. Propensity Score Matching (PSM) is used for the robustness and endogeneity test; descriptive statistics is utilized in this study. Financial security systems are introduced to reduce the forging and breaching of intruders amid transactions. This study offers a novel contribution to the field of blockchain technology by furnishing a comprehensive analysis of the features of IoTâbased financial security systems from the perspective of the transaction, broadening the understanding of the feature focusing on financial security, and providing practical recommendations to address the features of IoTâbased financial security systems in blockchain technology. The study highlights how IoT devices can securely record and verify financial transactions by leveraging the blockchain's distributed ledger, preventing tampering or unauthorized access. The results of the study identify that the TS3 program relies on the transaction gaps between financial sessions, security requests between successive transactions, and sessions saved depending on the time delay. The study finds that sessions were analyzed for violations and fraud using information stored on the blockchain. The study suggests the design and building of devices and sensors in an IoT in financial security systems. Transparency should contribute to setting data privacy and safety problems in financial security systems.