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Blockchain Technology and Trust Relationships in Trade Finance

Kowalski, Michał; Lee, Z.W.Y.; Chan, Tommy K.H.

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Michał Kowalski

Z.W.Y. Lee

Tommy K.H. Chan


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.

Journal Article Type Article
Acceptance Date Jan 22, 2021
Online Publication Date Feb 10, 2021
Publication Date 2021-05
Deposit Date Jan 26, 2021
Publicly Available Date Aug 10, 2022
Journal Technological Forecasting and Social Change
Print ISSN 0040-1625
Publisher Elsevier
Peer Reviewed Peer Reviewed
Volume 166
Article Number 120641
Public URL


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