Blockchain Security and Corporate Governance

Abstract

Economic globalization is a new challenge, especially for developing countries like Indonesia, because everything is interrelated and has a special impact such as the occurrence of a crisis that is evenly distributed in every country. For this reason, improving corporate governance is important. This study aims to determine the attitude of Indonesian investors in adopting Blockchain Technology as an effort to improve corporate governance in public companies in Indonesia. This study involved 170 investors and businesspeople who directly interacted with the benefits of corporate governance in a company. The data analysis of this research uses a structural equation model with SmartPLS software. The result is Perceived ease of use, Perceived usefulness, and Security have a significant influence on attitude in adopting blockchain in corporate governance, but if examined more deeply it can be seen that the coefficient and t-statistic value of security have the greatest results, so it can be said one of the important elements of blockchain adoption in the implementation of corporate governance must emphasize the high security factor, because agency theory and agency conflict which are classic problems in corporate governance are the main problems that can be solved with the presence of blockchain to reduce fraud, earnings manipulation, and earnings management.