Investigating accounting professionals’ intention to adopt blockchain technology

Abstract

Purpose

Blockchain’s potential is so significant that business activities across all industries can be drastically altered. Furthermore, the characteristics of blockchain appear to be well-suited to accounting requirements. However, accounting professionals’ attitude and intention toward blockchain adoption are not clear, particularly in India. Thus, this study aims to investigate and evaluate accountants’ intention to adopt blockchain technology in accounting activities.

Design/methodology/approach

This study examined and assessed accountants’ intention to use blockchain in accounting. To effectively measure usage intention, this study extended the unified theory of acceptance and use of technology (UTAUT) model by including context-specific constructs. To empirically test and validate the proposed model, data were collected from “369” professional accountants in India.

Findings

The findings revealed that facilitating conditions, performance expectancy and initial trust had a significant impact on adoption. Furthermore, the regulatory framework materially moderated the association between usage intention and its predictors.

Originality/value

These findings provide new empirical evidence about the impact of different predictors of usage intention by extending the UTAUT model. Relevant stakeholders can refer to this pioneering study to increase the adoption of blockchain as an efficient and trustworthy system among professional accountants, particularly in developing countries such as India.

Citation

Jena, R.K. (2024), "Investigating accounting professionals’ intention to adopt blockchain technology", Review of Accounting and Finance, Vol. 23 No. 3, pp. 375-393. https://doi.org/10.1108/RAF-06-2023-0185