Blockchain Technology and Trust Relationships in Trade Finance

Michał Kowalski, Zach W. Y. Lee*, Kam Ho Chan

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

79 Citations (Scopus)
190 Downloads (Pure)


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.
Original languageEnglish
Article number120641
Number of pages9
JournalTechnological Forecasting and Social Change
Early online date10 Feb 2021
Publication statusPublished - 1 May 2021


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