Blockchain Technology and Trust Relationships in Trade Finance

Michał Kowalski; Zach W. Y. Lee; Kam Ho Chan

doi:10.1016/j.techfore.2021.120641

Blockchain Technology and Trust Relationships in Trade Finance

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

^*Corresponding author for this work

Marketing Operations and Systems Department

Research output: Contribution to journal › Article › peer-review

90 Citations (Scopus)

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Abstract

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 language	English
Article number	120641
Number of pages	9
Journal	Technological Forecasting and Social Change
Volume	166
Early online date	10 Feb 2021
DOIs	https://doi.org/10.1016/j.techfore.2021.120641
Publication status	Published - 1 May 2021

Keywords

Blockchain technology
Distributed ledger
FinTech
Trade finance
Trust relationship

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10.1016/j.techfore.2021.120641

TFSC Blockchain Technology and Trust Relationships in Trade FinanceAccepted author manuscript, 325 KBLicence: CC BY-NC-ND

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Blockchain Technology and Trust Relationships in Trade Finance

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Keywords

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