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

Authors: Silvana Secinaro; Davide Calandra; Paolo Biancone

Addresses: Department of Management, University of Turin, Corso Unione Sovietica 218, Bis – 10134 – Turin, Italy ' Department of Management, University of Turin, Corso Unione Sovietica 218, Bis – 10134 – Turin, Italy ' Department of Management, University of Turin, Corso Unione Sovietica 218, Bis – 10134 – Turin, Italy

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.

Keywords: trust; trust accounting; blockchain technology; immutability.

DOI: 10.1504/IJMP.2021.113824

International Journal of Management Practice, 2021 Vol.14 No.2, pp.129 - 145

Received: 28 Jan 2020
Accepted: 21 May 2020

Published online: 12 Mar 2021 *

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