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Blockchain, trust, and trust accounting: can blockchain technology substitute trust created by intermediaries in trust accounting? A theoretical examination

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  • Silvana Secinaro
  • Davide Calandra
  • Paolo Biancone

Abstract

Blockchain technology features such as distributed ledger, decentralisation, smart contracts, and consensus mechanisms promise to trust in transactions. It could be beneficial to trust accounting processes. This paper, using theoretical analysis, reviews these features and examines if they could lead to the substitution or complement the role of trust agents such as legal firms, lawyers, accountants or auditors, and even regulatory authorities. The investigation shows that while blockchain presents novel features that are key to enhancing trust, the technology can only complement that trust accounting process, due to the technical skills required. At the same time, the paper discusses the relationship between trust and intermediaries. Future investigations could analyse the relationship between faith and technology, considering practitioners' view.

Suggested Citation

  • Silvana Secinaro & Davide Calandra & Paolo Biancone, 2021. "Blockchain, trust, and trust accounting: can blockchain technology substitute trust created by intermediaries in trust accounting? A theoretical examination," International Journal of Management Practice, Inderscience Enterprises Ltd, vol. 14(2), pages 129-145.
    • Handle: RePEc:ids:ijmpra:v:14:y:2021:i:2:p:129-145
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    Citations

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    Cited by:

    1. Diego Valentinetti & Michele A. Rea, 2022. "Blockchain e bilancio di esercizio: verso una convergenza di interessi "distribuita"?," MANAGEMENT CONTROL, FrancoAngeli Editore, vol. 2022(2), pages 15-40.
    2. Davide Calandra & Federico Lanzalonga, 2021. "Exploring social exchange theory in Italian cultural heritage. A case study on the Ordine Mauriziano Foundation?s Historical Archives," CONTABILIT? E CULTURA AZIENDALE, FrancoAngeli Editore, vol. 0(2), pages 55-76.
    3. Großmann, Christopher & Merfeld, Katrin & Klein, Jan F. & Föller, Franziska & Henkel, Sven, 2024. "Onto the light side of sharing: Using the force of blockchain," Journal of Business Research, Elsevier, vol. 175(C).

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