Trust as the catalyst: Transforming perceived to created value in blockchain traceability

Abstract

Configuring and maintaining blockchain traceability systems incurs significant costs. Thus, understanding how firms can derive value from consumers through blockchain traceability is essential. We present a model that demonstrates how consumer-perceived technology value transforms into created value for firms, with trust acting as a catalyst. Our evaluation of the perceived value of blockchain traceability focuses on the sacrifices and benefits recognized by consumers. Analysis of 501 survey responses reveals that perceived price and the risk of data falsification are sacrifices that negatively impact perceived technology value. In contrast, the perceived quality of agri-food serves as a perceived benefit that enhances this perception. Furthermore, perceived value influences consumers’ intentions to repurchase and recommend, technology trust and brand trust are key enablers, highlighting a trust transfer effect from technology to brand. This study contributes to understanding technology adoption and customer relationship management in agricultural enterprises. By emphasizing trust as the catalyst, it provides valuable insights into leveraging blockchain traceability to create sustainable value for businesses.