Blockchain Technology and Trust Relationships in Trade Finance

Kowalski, Michał, Lee, Zach W. Y. and Chan, Tommy (2021) Blockchain Technology and Trust Relationships in Trade Finance. Technological Forecasting and Social Change, 166. p. 120641. ISSN 0040-1625

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Official URL: https://doi.org/10.1016/j.techfore.2021.120641

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.

Item Type: Article
Uncontrolled Keywords: blockchain technology, trust relationship, trade finance, FinTech, distributed ledger
Subjects: G400 Computer Science
N100 Business studies
N300 Finance
Department: Faculties > Business and Law > Newcastle Business School
Depositing User: John Coen
Date Deposited: 26 Jan 2021 09:32
Last Modified: 23 Feb 2021 16:30
URI: http://nrl.northumbria.ac.uk/id/eprint/45304

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