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Using extended complexity theory to test SMEs' adoption of Blockchain-based loan system
Wei Sun1, Alisher Tohirovich Dedahanov2, Ho Young Shin2
1School of Economic, Anyang Normal University, Anyang City, Henan Province, China.
Plos One
|February 5, 2021
Summary
Blockchain loan systems can reduce financing costs for small and medium-sized enterprises (SMEs). Complexity, risk, fairness, and reward sensitivity significantly impact SME adoption of these blockchain-based financial systems.
Area of Science:
- Financial Technology
- Information Systems
- Blockchain Technology
Background:
- Small and medium-sized enterprises (SMEs) face high financing costs.
- Blockchain technology offers potential solutions for information exchange and loan monitoring.
- Current adoption barriers for blockchain loan systems among SMEs are not fully understood.
Purpose of the Study:
- To investigate the factors influencing the adoption of blockchain-based loan systems by SMEs.
- To extend complexity theory to analyze SME adoption of financial technologies.
- To identify key determinants of usage intention for blockchain loan systems.
Main Methods:
- Utilized complexity theory as a framework for analysis.
- Examined factors including perceived complexity, risk, fairness, and reward sensitivity.
- Assessed the impact of these factors on SMEs' intention to use blockchain loan systems.
Main Results:
- Perceived complexity, perceived risk, perceived fairness, and reward sensitivity significantly affect usage intention.
- Perceived complexity was found to have a moderating effect on other relationships.
- Blockchain systems facilitate information exchange between government, enterprises, and financial institutions.
Conclusions:
- Blockchain loan systems have the potential to reduce financing costs for SMEs.
- Understanding user perceptions (complexity, risk, fairness) is crucial for successful adoption.
- This technology can enhance transparency and create equal opportunities for SMEs and investors globally.
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