Adoption of blockchain technology in banking sector: Extending the technology acceptance model with trust and security in the context of Bangladesh

Abstract

This study is conducted based on the intention to use blockchain technology (IU) in the banking sector in Bangladesh, extending the Technology Acceptance Model (TAM) by incorporating perceived usefulness (PU), perceived ease of use (PEU), relative advantage (RA), perceived security (SE), and attitude (ATT) as key constructs. Data were collected from banking professionals through offline and online surveys. Using structural equation modelling and mediation analysis, this study tested the direct and mediated relationships between constructs that influence their intentions to use blockchain technology (BCT). The results indicate that relative advantage and perceived security have significant positive direct effects on the intention to use blockchain technology. Perceived usefulness and ease of use indirectly affect intention through attitude. Attitude plays a mediating role between all antecedent variables and intention, highlighting the importance of cognitive and affective evaluations in shaping user intentions in the pre-adoption stage. The model goodness of fit shows an R-squared value of 0.55. This study contributes to the technological acceptance model by offering empirical evidence of intention towards raising blockchain technology in the banking sector of Bangladesh.

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