What is it about?
This study examines how blockchain technology affects transparency and trust in buyer-supplier relationships on peer-to-peer (P2P) platforms. Through a scenario-based experimental design with data from 243 vendors, we find that vendors' willingness to continue selling is fully mediated by their perceptions of the platform's transparency and trust. Additionally, switching costs moderate the relationship between trust and willingness but not between transparency and willingness. Unlike previous research focusing on end customers, this vendor-centric (B2B) perspective contributes to social exchange theory, resource dependence theory, and understanding buyer-supplier trust in online P2P environments.
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Why is it important?
It explores how blockchain technology can enhance trust and transparency in peer-to-peer (P2P) platforms, addressing challenges in vendor relationships. The study provides empirical evidence on the effectiveness of blockchain in mitigating information asymmetry and improving dispute resolution mechanisms. It offers actionable insights for P2P platforms to foster better vendor relationships, ultimately improving financial performance and long-term benefits.
Perspectives
Blockchain technology positively affects vendors' perceptions of transparency and trust in P2P platforms, which mediates their willingness to continue selling. By providing tamper-proof records and traceability, blockchain reduces transaction uncertainties, making vendors feel more secure in their business relationships. The reliance on blockchain features can create higher switching costs, further encouraging vendors to remain on the platform due to the investments made in adapting to its requirements.
Dr. Seock-Jin Hong
Read the Original
This page is a summary of: Blockchain technology for building buyer-supplier trust and transparency in supply chains: An experimental study on P2P online marketplace vendors, Industrial Marketing Management, January 2025, Elsevier,
DOI: 10.1016/j.indmarman.2024.12.004.
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