Looking beyond the hype: The challenges of blockchain adoption in accounting

Mohsina Akter, Tyge-F. Kummer and Ogan Yigitbasioglu

International Journal of Accounting Information Systems, 2024, vol. 53, issue C

Abstract: Blockchain has been hyped and considered a potential game-changer for the recording of accounting transactions as it enables triple-entry accounting and real-time reporting. However, there is very little knowledge of the uptake of blockchain in accounting, and most blockchain accounting research is conceptual, lacking empirical evidence. This study addresses this gap and examines the organisational factors that drive and hinder the adoption of blockchain in accounting, as well as the perceived benefits. Using the technology-organisation-environment (TOE) framework, we analyse interview data collected from blockchain experts and accountants (N = 19). The findings confirm the influence of nine context-specific factors, highlighting the challenges and lack of knowledge in understanding the usage and benefits of blockchain in accounting, its complex integration with existing accounting systems, and the increased costs associated with the adoption intention. This study provides novel empirical evidence of the factors by adequately contextualising an established theoretical framework in the context of accounting. The findings are useful for practitioners and the broader accounting information systems research community as they provide empirical insights into how context-specific factors influence blockchain adoption in accounting.

Keywords: Blockchain; Adoption; Blockchain accounting; Interviews; Technology-Organisation-Environment framework (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ijoais:v:53:y:2024:i:c:s1467089524000149

DOI: 10.1016/j.accinf.2024.100681

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