International Journal of Blockchains and Cryptocurrencies (5 papers in press)

Regular Issues

• Crypto-curious or crypto-cautious? Behavioural insights from Indias retail equity investors  
  by Madhu Bala Sharma, Pooja Yadav 
  Abstract: In India’s rapidly evolving capital market, cryptocurrencies have sparked significant interest among retail equity investors, particularly younger males under 35 years of age. This study makes a novel theoretical contribution by extending the technology acceptance model (TAM)theory of planned behaviour (TPB) through the integration of three constructs namely, usability confidence, utilitarian value and perceived risk, which capture behavioural and market characteristics unique to emerging economies such as India. Using SPSS 25 and partial least squares structural equation modelling (PLS-SEM) on a sample of 278 crypto-aware but non-investing investors, the findings show utilitarian value as the most influential driver of adoption, while perceived risk functions both as a deterrent and as a behavioural filter reflecting cautious curiosity. By integrating these factors specifically for India, the study expands the applicability of TAMTPB to emerging markets, advances understanding of the psychology of retail investors and offers insights for regulators, financial institutions, and policymakers to promote secure and informed cryptocurrency participation in India.
  Keywords: cryptocurrency adoption; retail equity investors; attitude; TAM; technology acceptance model; TPB; theory of planned behaviour; risk perception; utilitarian value; India.
  DOI: 10.1504/IJBC.2025.10073685
   
  
• Blockchain technology-based futuristic accounting system: an exploratory study  
  by Gourav Surana, Shurveer S. Bhanawat 
  Abstract: Blockchain technology offers a transformative approach to accounting by enabling a transparent, secure, and efficient system for recording and verifying transactions. This exploratory study addresses gaps in the literature by examining the potential benefits and challenges of blockchain adoption in accounting and auditing. It traces the historical evolution from double-entry accounting, originating in ancient India’s Bahi-khata system, to the modern concept of triple-entry accounting enabled by blockchain. A proposed model uses blockchain as the accounting information system, decentralising transaction verification, storage, and management across a distributed network. Each transaction is recorded on a shared ledger, ensuring real-time, verifiable, and tamper-proof updates to the company’s financial records. The study demonstrates the advantages of blockchain-based accounting systems over traditional methods, providing critical insights for practitioners and regulators interested in adopting this innovative technology.
  Keywords: blockchain technology; triple-entry accounting; double-entry accounting; auditing; distributed ledger; transaction verification; financial transparency; decentralised systems; accounting information system.
  DOI: 10.1504/IJBC.2025.10073808
   
  
• Industry experience over academic credentials: VC investment patterns in early ICO markets (2017-2018)  
  by Hye Rin Shim  
  Abstract: This study examines how founder characteristics influence venture capital investment decisions and ICO performance during blockchain’s foundational period (2017-2018). Analysing 514 successfully listed ICO projects on Binance, we investigate which founder attributes drive institutional investment and exchange listing outcomes using human capital and signalling theories. Our findings reveal that venture capitalists prioritise founders’ industry-specific experience and functional backgrounds over traditional educational credentials when evaluating blockchain ventures. Founders with related industry experience demonstrate significantly higher likelihood of attracting VC investment (β = 1.301; OR = 3.673; p < 0.01) and achieve more efficient market preparation processes evidenced by reduced time-to-listing (β = 0.622; HR = 0.537; p < 0.01). Mediation analysis indicates that venture capital investment partially mediates the relationship between founders related industry experience and ICO listing time, with the indirect effect accounting for 15.9% of the total effect. These results extend human capital theory to digital entrepreneurship contexts.
  Keywords: blockchain entrepreneurship; venture capital; human capital; signalling theory; initial coin offerings; founder characteristics.
  DOI: 10.1504/IJBC.2025.10073904
   
  
• Secure online voting system using blockchain  
  by Sanjeev Kumar 
  Abstract: Blockchain technology, which underpins the world's first cryptocurrency, Bitcoin, has garnered considerable global attention today. Because of the distributed ledger's immutability and trustlessness can be a game-changer in the electronic payment industry and in many other areas where people need to trust each other. In centralised systems, the outcomes of voting events have historically been suspect and untrustworthy to voters. The Voters aren't even sure whether their vote is cast to the proper entity or not. There are tons of other problems that arise when using a centralised Voting system. Modifying digital voting technologies to make the public political process more affordable, faster, and more accessible is tempting in contemporary culture. The performance takes advantage of Ethereum smart contracts. The Truffle framework is used in this article to design, test, and deploy smart contracts. Our proposed system is better than other schemes.
  Keywords: blockchain; ethereum; voting system; cryptocurrency; secure.
  DOI: 10.1504/IJBC.2025.10074145
   
  
• Exploring blockchain adoption drivers in Nigerian journalism through an integrated UTAUT-TOE framework  
  by Ogemdi Uchenna Eze, Alozie Christian Ogbonna 
  Abstract: Background: Blockchain technology offers a significant opportunity for journalism by enhancing trust and transparency. This study investigates the key factors that influence its adoption within the Nigerian media sector, a resource-constrained context. Methods: A quantitative research design was employed, utilising survey data collected from 327 journalists in Southeast Nigeria. The data were analysed using hierarchical regression analysis to determine the predictive power of individual, organisational, and environmental factors on adoption intentions. Results: The model explained 43.9% of the variance in adoption intentions. Performance expectancy (β = 0.313, p = 0.001) and competitive pressure (β = 0.387, p = 0.001) were the strongest positive predictors. Complexity (β = 0.256, p = 0.001) was a significant barrier. Organisational leadership and technological partnerships were pivotal, while regulatory support showed no significant effect. Implications: Theoretically, the study demonstrates the utility of integrating adoption models to analyse complex, resource-constrained contexts.
  Keywords: blockchain adoption; competitive pressure; journalism; Nigeria; trust deficit: UTAUT-TOE framework.
  DOI: 10.1504/IJBC.2025.10074146