Strategy for implementing blockchain technology in accounting: Perspectives of stakeholders in a developing nation

Abstract

AbstractThis study applies the Unified Theory of Acceptance and Use of Technology model to explore the factors that potential users may prioritize when intending to use blockchain technology in accounting. Primary data was collected through a structured questionnaire from 217 respondents. Both factor analysis and regression models were applied to achieve the study's purposes. The findings indicate that respondents consider privacy, usefulness, cost, and facilitation issues when intending to use blockchain technology in accounting to enhance data reliability and reduce the workload of auditors. Bangladesh, a developing country, has immense opportunities to ensure a transparent society by applying blockchain technology in accounting, with cooperation from stakeholders such as firms, the government, regulatory authorities, and users of accounting information. It is expected that the findings of this study will help the concerned authorities to formulate appropriate strategies for the implementation of blockchain technology in the field of accounting in Bangladesh.