Re-establishment and Regarding Trust and Transparency, Blockchain’s Contribution to the Solution of a Thousand-Year Problem

Abstract

Trust is the most important key element in the history of humanity and its success. We see and witness an emerging and exciting technology called Blockchain, eliminating losses caused by anti-trust and relieves pain in our socialbuild environment. Although the atmosphere in business, management, and society today has been heavily altered and involved, trust stays the same. This requirement leads companies in various industries to use new techniques to ensure their customer's business is in safe hands. Unfortunately, most of the current research is heavily based on the Bitcoin currency rather than its underlying technology, which focuses on revealing and improving Blockchain's limitations from managerial value perspectives. Many of the proposed solutions lack a concrete evaluation of their effectiveness. Many other Blockchain scalability related challenges, including throughput and latency, have been left unstudied. In this study, enabling functions is studied, and Blockchain's contribution to organisations' management is discussed. Besides, applicability in today's economic environment in various industries is studied. It is understood that after the development of technologies that eliminate centralised structures such as Blockchain, the business world is keen to adapt to this change. In this context, it is concluded that including new technologies such as Blockchain increased trust in various industries, and in the majority of the studies, Blockhain considered being an element to reduce costs and create a more transparent environment. It can be said that this technology contributes to the development and better understanding of the application area of the industries mentioned in the study.

Deciphering trust mechanisms in blockchain platforms: A multifaceted experimental exploration

“…This adds to the theoretical rigor and extends the understanding of trust dynamics in blockchain, positioning this research as a critical step in translating theoretical concepts into quantifiable insights.Moreover, this study goes beyond the broad strokes of trust in blockchain to uncover the nuanced mechanisms by which transparency and immutability can enhance trust. While the importance of transparency and immutability has been acknowledged in previous studies such asAdigüzel and Krasnokutska (2021), this research delves into specific interactions between these factors and user trust, offering a more detailed and multifaceted view. By elucidating how access to transaction history, details, and the unchangeable nature of records influence trust, it adds depth and complexity to relevant literature.…”