Blockchain Papers

Ho Thanh Tri, Le Hoang Minh Khue, Le Dinh Van, Tran Gia Linh · 6 authors

As the digital economy rapidly develops, quick access to capital has become a critical survival factor for individuals intending to start a new business. However, under traditional bank lending systems, these aspiring entrepreneurs face significant barriers due to complex financial documentation requirements and stringent credit history checks. Drawing on the Technology Acceptance Model (TAM), this study investigates factors influencing users’ adoption of blockchain-enabled digital lending platforms among individual customers with startup intentions in Vietnam. The empirical model examines the effects of Perceived Ease of Use and Perceived Usefulness on Attitude Toward Using, and the effect of Attitude on Behavioral Intention to Use. The results show that both perceived ease of use and perceived usefulness positively influence users’ attitudes, while attitude strongly affects behavioral intention. Blockchain-related characteristics, including decentralization, data immutability, and smart contracts, are discussed as technological mechanisms that may improve lending efficiency, transparency, and users’ confidence in digital lending systems. The study provides practical implications for banks and FinTech firms seeking to design user-friendly and secure digital lending platforms for underserved entrepreneurial users.

Halek Mu’min, Denny Bernardus Kurnia Wahyudono, Thomas Stefanus Kaihatu

This investigation develops and validates Blockchain Utilization Capability as a novel construct fundamentally reconceptualizing complex enterprise technology adoption by addressing critical limitations in conventional frameworks assuming direct antecedent-intention relationships. Through cross-sectional survey methodology examining 300 Indonesian SMEs actively engaged with blockchain platforms, we integrate Technology-Organization-Environment Framework with Technology Acceptance Model, positioning capability as central mediating mechanism analyzed using PLS-SEM with bootstrapping procedures. Results reveal complete mediation configurations wherein organizational infrastructure, environmental pressures, technological features, perceived usefulness, and perceived ease of use operate exclusively through capability development rather than directly influencing adoption intentions. Organizational dimensions demonstrate substantial effects on capability formation, while perceived ease of use exhibits paradoxical negative associations through suppression mechanisms, with the construct achieving superior predictive performance explaining considerable variance in adoption intentions. We introduce Capability-Mediated TAM, demonstrating perceptual beliefs require translation into organizational capabilities preceding complex technology adoption influence, bridging previously disconnected frameworks by revealing common capability-building pathways through which diverse antecedents operate, transforming TOE from descriptive taxonomy into dynamic process architecture. Findings establish that organizations should prioritize systematic capability development through phased approaches emphasizing organizational readiness, formal governance, and cross-functional integration preceding production implementations, recognizing capability building as essential rather than optional pathway toward blockchain adoption success.

Zaid Tahat, Ahmad Alomari, Ibrahim Al-Radaideh, Adham Taher Alessa · 7 authors

This study examines the mediating role of investor trust in the relationship between perceived blockchain integration and perceived stock market efficiency within the Amman Stock Exchange (ASE). The Amman Stock Exchange (ASE), established in 1999, is the sole securities exchange in Jordan and one of the leading emerging markets in the Middle East and North Africa (MENA) region. Drawing on technology acceptance theory, trust theory, and market efficiency theory, the research develops and tests a dual-pathway model wherein perceived blockchain integration relates to perceived market efficiency both directly and indirectly through investor trust. Using structural equation modeling with data collected from 400 market participants, the findings reveal that perceived blockchain integration is significantly and positively associated with investor trust (β = 0.849, p < 0.001) and with perceived stock market efficiency (β = 0.448, p < 0.001). Importantly, investor trust partially mediates this relationship (β = 0.380, p < 0.001), confirming the dual-pathway impact. Among blockchain dimensions, security demonstrates the strongest effect on both investor trust and market efficiency. The study contributes to the emerging literature on blockchain in financial markets by empirically validating the psychological mechanisms through which technological innovations translate into more favorable perceptions of market functioning. For market regulators and exchange administrators, the findings suggest that comprehensive blockchain implementation strategies should address both technological deployment and trust-building initiatives to strengthen favorable investor perceptions of market efficiency in emerging markets.

Jing Du, Sabri Boubaker, Riadh Manita, Ling Ye

Purpose This study examines how auditors respond to firms' disclosed blockchain engagement. While the technology offers potential efficiency gains, it also introduces new risks and complexity. We investigate whether and how auditors use audit pricing and auditor resignation as their strategies to manage blockchain-related risks. Design/methodology/approach This study uses a large sample of Chinese A-share listed companies spanning 2016 to 2022. We extract data regarding corporate blockchain engagement by conducting textual analysis on firms’ publicly disclosed reports. Regression analysis is applied to verify the research hypotheses, followed by a series of robustness tests. In addition, we carry out cross-sectional tests and examine auditors’ responses to distinct categories of blockchain-related activities. We further investigate the relative priority of auditors’ risk management strategies and identify potential channels. Findings There is a positive relation between firms’ disclosed blockchain engagement and audit fees. This relation is more pronounced among larger audit firms, auditors without an information technology (IT) background and those with shorter tenures. Both audit effort and audit risk serve as two plausible channels linking companies’ engagement in blockchain to increased audit fees. Firms engaging in blockchain to facilitate management processes, rather than provide blockchain-related products or services, are associated with elevated audit fees. Although blockchain engagement is also related to a higher likelihood of auditor resignation, we observe a hierarchical pattern in auditor responses, with fee adjustments being the more prevalent initial reaction relative to resignation. Research limitations/implications Our disclosure-based measure may not fully distinguish the depth of adoption, investor-facing signaling or strategic narrative because doing so would require obtaining in-depth blockchain data from the sample firms. This is highly challenging as such data are not subject to mandatory disclosure by regulators and may constitute corporate confidential information. Our findings should be interpreted as auditors’ responses to “perceived blockchain-related risks” rather than a direct response to “the adoption of blockchain technology.” Practical implications First, for audit firms, our results underscore the importance of investing in technological training and developing firm-level expertise in emerging technologies such as blockchain. The finding that the fee premium is concentrated among auditors without IT backgrounds suggests that audit firms that proactively build technological competence may be better positioned to serve clients engaging with new technologies while managing their own costs. Second, for corporate managers, our findings alert them that public blockchain engagement, even when disclosed for strategic signaling purposes, may carry tangible costs in the form of higher audit fees, particularly when blockchain is deployed for internal management processes. This cost should be factored into firms’ cost–benefit analyses when making blockchain investment decisions. Third, for regulators and standard-setters, the heterogeneity in auditor responses documented in our study highlights the need for clearer accounting and auditing guidance for blockchain-based transactions, which would reduce the uncertainty that currently drives elevated audit pricing. Originality/value This study provides evidence consistent with auditors strategically adapting to technological disruptions in their risk management practices. The study offers timely and practical insights for auditors, regulators and corporate managers as blockchain applications continue to proliferate.

Satyam Prakash Srivastava, Rupa Khanna Malhotra, Priyanshu Sagar

The blockchain technology in the banking sector is a decentralized ledger system and has been more commonly known by it being the basis of cryptocurrencies, such as Bitcoin. However, blockchain is to Bitcoin, as email is to internet; the possible areas of examination with the use of blockchain technology are gigantic. One of such areas is the banking sector, which has certain ambiguities, which needs to be spoken about proximately, such as the lack of distinct accountability, disorganization in deliverance on time, deficiency of transparency, and “too big to operate effectively” kind of attitude. This research work is based on the careful exploration, examination, and evaluation of the possible methods of applying blockchain technology in the banking sector.

Anjali Shishodia, Rohit Sharma, Angappa Gunasekaran, Prikshat Verma

No abstract is available for this record.