Purpose
The purpose of this study is to use an extended Unified Theory of Acceptance and Use of Technology (UTAUT) model to investigate the intention to use blockchain from the accountant's point of view. The proposed model is expected to provide the necessary incentives for accountants to adopt blockchain. The authors build external constructs based on discussions of blockchain properties for accounting such as accounting information quality, job relevance and trust. In addition, the study also considers computer self-efficacy and compatibility as factors related to practitioners’ blockchain acceptance.
Design/methodology/approach
By using the developed online-questionnaire, the data is collected from the responses of 317 accountants working in listed enterprises in Vietnam. The main analyzes are performed by Smart partial least squares structural equation modeling technique to present both direct and indirect effects on the intention to use blockchain.
Findings
Experimental results provide many interesting and valuable things. First, performance and effort expectancy have a positive influence on intention to use blockchain, while social influence has a lower influence. Second, trust has a direct and positive effect on effort and performance expectancy, as well as intention to use blockchain. Quite surprisingly, accounting information quality has a positive effect on performance expectancy, while job relevance has a negative effect. Fourth, computer self-efficacy and compatibility have a positive effect on effort expectancy. It is more interesting that the intention to use blockchain has nothing to do with compatibility. The results of this study also show that performance and effort expectancy play a mediating role in the indirect effects of trust, computer self-efficacy and compatibility on intention to use blockchain.
Research limitations/implications
The study shows that accountants in Vietnam have a high intention to use blockchain. This implies that the Vietnamese Government and the professional association should design training programs or open training sessions on blockchain. Accountants can clearly understand the importance of blockchain in their work as well as the positive effect of blockchain on performance. They are consulted on how to use blockchain. They also perceive that using blockchain is not too difficult, and the acceptance of this technology will be higher. Additionally, universities should put triple-entry accounting into their teaching, so accounting students can improve their skills and knowledge relevant to blockchain to meet their career needs in the future.
Originality/value
The study proposes an extended UTAUT model with external constructs built on blockchain's effects on accounting. The model makes more sense in promoting the use of blockchain in accounting.