Significant pathways for consumer’s use of blockchain based application – the role of trust, risk & intentions

Challenges to consumer use of blockchain-based applications persist because of the inherent difficulties associated with its integration, and implications. We do not fully understand user’s knowledge of blockchain-based applications safety, uncertainty, and perceptions. This study explores consumers’ perceptions of trust and risk, their antecedents, and their influence on the intention to use applications built on a blockchain framework. We adopted a consumer-based conceptual model that includes reputation, familiarity, security, and privacy as antecedents of trust and risk. Following a case-based scenario, a survey was conducted to assess the model hypotheses. We conducted exploratory factor analysis to validate the conceptual model, followed by structural equation modeling to test the model’s nineteen hypotheses. Results of the conceptual model helped better understand consumers’ intentions. We interpret and discuss the findings in relation to research and practice. We conclude by elaborating on the practical implications, suggestions for future research, and limitations of the study.