Absence of blockchain adoption in the accounting domain
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2023-07-13
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en
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Blockchain technology has accumulated significant attention in various fields, including the accounting field, due to the immense potential and broad applicability of the technology. Despite all this attention, no real progress regarding blockchain adoption in the accounting industry has been made. Therefore, this thesis aims to answer the following question: “Why is blockchain technology not widely adopted in the accounting profession?”. Blockchain technology is a decentralized peer-to-peer network where entities communicate with each other and validate transactions. To answer the research question, a survey is used. The survey is designed using the framework created by Mahmoudian et al. (2018). The results can be summed up as follow: it seems that there is no need for the technology. The validation capabilities are currently not needed, and the capability for transaction confirmation between entities is currently not applicable. Additionally, the knowledge level regarding blockchain technology is not high enough for adoption to occur. The opportunities blockchain offers are perceived as less positive and the challenges are perceived as less negative with a majority of the survey respondents stating that the opportunities and challenges are even.
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Faculteit der Managementwetenschappen