Digitalization and its impact on the economy in wake of blockchain technology

Abstract

As being one of the most recent digital technologies, the Blockchain (BC) technology has a profoundly transformative and empowering role in economic activities in terms of production and consumption choices and marketing activities. However, the consumers familiarity and perception of BC technologies is not a well studied issue in the literature. In this thesis, research is conducted to determine the usability and familiarity of the BC technologies by the consumers. Reviewing the related literature, a model is designed to analyze the effects of BC technologies in consumer behavior. The probable effects are identified in four dimensions in the model; dimension of uncertainty removal, dimension of being a solution tool and reliability, dimension of mediation, creativity and innovation and dimension of data management, ecology and digital economy dimension. A questionnaire is formed to test the effects of BC technologies on consumers in these dimensions. Findings of the study shows that in terms of gender, age, education and seniority of the participants; there is no significant differentiation in practicing BC-based technologies in any dimension. However, the results justify the literature that the job positions of the participants and their knowledge on BC technologies are significant on their use of BC technologies. The companies and the public authorities should design technology policies taking the technology diffusion of the society into consideration. As the society’s technology-friendliness increase, the use of BC technologies will be more effectively used especially in certain sectors. In this regard, the thesis supports the use of BC technologies in economic activities.