Blockchain technology and trust relationships in trade finance
•Blockchain improves the security of transactions and data exchanges.•Blockchain enhances the efficiency and the quality of communication.•Blockchain facilitates the expression of benevolence.•Blockchain increases the predictability of trading partners.•Hyperledger technologies offer configurational...
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| Veröffentlicht in: | Technological forecasting & social change 2021-05, Vol.166, p.120641, Article 120641 |
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| container_title | Technological forecasting & social change |
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| creator | Kowalski, Michał Lee, Zach W.Y. Chan, Tommy K.H. |
| description | •Blockchain improves the security of transactions and data exchanges.•Blockchain enhances the efficiency and the quality of communication.•Blockchain facilitates the expression of benevolence.•Blockchain increases the predictability of trading partners.•Hyperledger technologies offer configurational flexibility to businesses.
Blockchain technology has been advocated as a possible solution to enduring trust issues among trading partners in trade finance. We conducted in-depth interviews with industry experts to examine how blockchain technology influences the trust relationships among trading partners. Our results show that the technology enhances trust relationships by (1) improving the security of transactions and data exchanges, (2) facilitating the expression of benevolence, (3) enhancing the efficiency and the quality of communication, and (4) increasing the predictability of trading partners. The paper concludes with implications for both research and practice. |
| doi_str_mv | 10.1016/j.techfore.2021.120641 |
| format | Article |
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| ispartof | Technological forecasting & social change, 2021-05, Vol.166, p.120641, Article 120641 |
| issn | 0040-1625 1873-5509 |
| language | eng |
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| source | Elsevier ScienceDirect Journals Complete; Sociological Abstracts |
| subjects | Blockchain Blockchain technology Business schools Cryptography Data exchange Distributed ledger Finance FinTech Technology Trade finance Trust Trust relationship |
| title | Blockchain technology and trust relationships in trade finance |
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