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Lockl, Jannik ; Stoetzer, Jens-Christian:
Trust-free Banking Missed the Point : The Effect of Distrust in Banks on the Adoption of Decentralized Finance.
In:
Proceedings of the 29th European Conference on Informations Systems (ECIS). -
Marrakech, Morocco
,
2021
Volltext
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Offizieller Projekttitel Projekt-ID Projektgruppe WI Digital Finance Ohne Angabe Projektgruppe WI BLockchain-Labor Ohne Angabe |
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Abstract
During the global financial crisis in 2008, trust in established financial intermediaries declined sharply. In reaction, blockchain technology was developed as an alternative system to facilitate financial transactions. The application of blockchain in the financial sector brought a new paradigm called Decentralized Finance. Employing a modified technology acceptance model, we examine the relationship of distrust in financial intermediaries and consumer’s behavioral intention to use Decentralized Finance. Empirical data from our survey does not support the established paradigm that distrust
in established financial intermediaries positively affects consumer adoption. We, therefore, propose a trust paradox in the financial sector.