Blockchain Technology and Trust Relationships in Trade Finance

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

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.

Citation

Kowalski, M., Lee, Z., & Chan, T. K. (2021). Blockchain Technology and Trust Relationships in Trade Finance. Technological Forecasting and Social Change, 166, Article 120641. https://doi.org/10.1016/j.techfore.2021.120641

• 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
• Electronic ISSN: 1873-5509
• Publisher: Elsevier
• Peer Reviewed: Peer Reviewed
• Volume: 166
• Article Number: 120641
• DOI: https://doi.org/10.1016/j.techfore.2021.120641
• Public URL: https://durham-repository.worktribe.com/output/1253150