An integrative model of trust toward crypto-tokens applications: A customer perspective approach

Abstract

Trust is a key driver of consumers' acceptance and adoption of innovations. The purpose of the paper is to explore and understand the factors that facilitate the creation of trust in crypto-tokens decentralized applications (DApp) from the perspective of the consumer. A qualitative research design has been used and forty-five participants were interviewed for the study. Based on a theory-driven approach of qualitative data analysis, a multidimensional, holistic conceptual framework of trust has been proposed. The model captures the core categories that affect consumer's trust toward crypto-tokens applications. It highlights the need to understand the individual, technological, environmental and use-case features which shape the way blockchain-based applications can be trusted. The framework can be used by policymakers, educators, exchange platforms, DApp developers, and entrepreneurs to develop strategies that cultivate on the drivers of trust, and create value with crypto-tokens and Web3.0 economies. Higher trust ultimately promotes acceptance and adoption of blockchain applications.