Blockchain Technology and Trust Relationships in Trade Finance

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

doi:10.1016/j.techfore.2021.120641

Blockchain Technology and Trust Relationships in Trade Finance

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

Authors

Michał Kowalski

Z.W.Y. Lee

Tommy K.H. Chan

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
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

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Publisher Licence URL
http://creativecommons.org/licenses/by-nc-nd/4.0/

Copyright Statement
© 2021 This manuscript version is made available under the CC-BY-NC-ND 4.0 license http://creativecommons.org/licenses/by-nc-nd/4.0/