Blockchain technology and trust relationships in trade finance

Michał Kowalski, Zach W.Y. Lee and Tommy K.H. Chan

Technological Forecasting and Social Change, 2021, vol. 166, issue C

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.

Keywords: Blockchain technology; Trust relationship; Trade finance; FinTech; Distributed ledger (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (24)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:tefoso:v:166:y:2021:i:c:s0040162521000731

DOI: 10.1016/j.techfore.2021.120641

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