Title: FACTORS AFFECTING THE ADOPTION OF BLOCKCHAIN TECHNOLOGY IN THE BANKING SECTOR IN VIETNAM
Author:
Thuy Linh Do
Abstract:
This study aims to identify and measure the impact of factors influencing the adoption of Blockchain technology in Vietnamese commercial banks amidst the rapid digital transformation. The research model is developed based on an integration of the Technology Acceptance Model (TAM) and specific characteristics of the financial industry. A quantitative research method was employed, using data collected from a survey of 199 respondents, including officers, employees, and interns working in the banking sector. Regression analysis results indicate that four key factors significantly influence the intention to use Blockchain: (1) Legal Framework, (2) Application Risks, (3) Technical Proficiency, and (4) Technology. Among these, the Legal Framework is the most significant driver, while Application Risks (pertaining to security and costs) represent the primary barrier. Based on these findings, the study proposes managerial implications for banks and policy recommendations for establishing a regulatory sandbox to facilitate effective Blockchain implementation in Vietnam.
Keywords: Blockchain, Banking, Digital transformation, Legal framework, Vietnam.
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