Blockchain accounting: Trailblazers' response to a changing paradigm

Abstract

Blockchain is a secure distributed ledger promising to change the principles of centuries-old double entry based accounting. Practitioners worldwide have embraced this concept and an immense funds and effort has been invested into mastering new features of blockchains and its use in day-to-day transaction recording. On the other side, scholars are not keeping the pace with the practice. The phenomenon of blockchain technology has been out of the research radars by now. This paper aims to explore the drivers of blockchain technology use in accounting. Based on the Unified Theory of Acceptance and Use of Technology, we developed a questionnaire to examine the tech-savvy accountants (trailblazers). In total 85 respondents indicated that the future use of the technology will mostly depend on the performance expectancy and social influence.