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Trust in blockchain-enabled exchanges: Future directions in blockchain marketing

Author

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  • Teck Ming Tan

    (University of Oulu)

  • Saila Saraniemi

    (University of Oulu)

Abstract

Prior research typically positions blockchain technology as enabling a trustless exchange environment without specifically investigating how blockchain technology provides trust and what makes the data in a blockchain “tamperproof” and “immutable.” This article serves to address these research gaps by conducting semi-structured interviews with 18 informants who have had at least three years of project experience with blockchain-enabled exchanges. Our findings uncover three unique aspects of blockchain that enable trust in exchange vs. a traditional exchange: (1) trust in exchange actors: mathematics and cryptography vs. human guardians within institutions, (2) trust in exchange actions: information transparency enabling tamperproof and immutable data vs. information asymmetry, and (3) trust in exchange assets: digital vs. manual escrows for verifying ownership of valuable goods. This research is vital for marketing scholars and practitioners who seek to understand the rise of threats to trust regarding online advertising, customer trust, privacy, and digital rights.

Suggested Citation

  • Teck Ming Tan & Saila Saraniemi, 2023. "Trust in blockchain-enabled exchanges: Future directions in blockchain marketing," Journal of the Academy of Marketing Science, Springer, vol. 51(4), pages 914-939, July.
    • Handle: RePEc:spr:joamsc:v:51:y:2023:i:4:d:10.1007_s11747-022-00889-0
    DOI: 10.1007/s11747-022-00889-0
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    7. Tan, Teck Ming & Salo, Jari & Aspara, Jaakko, 2024. "You fooled me, so I’ll tell you about myself! personnel-related brand betrayal experiences and disclosure of personal information," Journal of Business Research, Elsevier, vol. 171(C).

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