Blockchain: the Paradox of Consumer Trust in a Trustless System - a Systematic Review

Abstract

This systematic review investigates consumer trust in blockchain applications and makes recommendations for future research. The review targeted papers focusing on blockchain applications, collecting data from a consumer perspective, and examining trust as an outcome variable. We excluded non-peer-reviewed papers written before 2008 or in languages other than English. Our search in 5 databases yielded 704 studies. 29 studies were retained for the full-text review and 5 studies were included after conflict resolution. The small number of studies retained for analysis highlights the need for further empirical research on consumer trust in blockchain technology. While blockchain remained a mysterious term for most consumers, trust was the main factor determining the use of blockchain applications. Additionally, interface design, service, and information quality, together with the platform's ability to allow consumers to investigate products using blockchain applications. Trust remains the central issue for blockchain as trust in this “trustless” system appears to be a prerequisite for actual use, creating a “trust paradox”. This systematic review on consumer trust in blockchain technology is the first to provide a preliminary synthesis of consumers' needs and expectations for blockchain developers and provides important directions for future research on blockchain applications.