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Hierarchical Structuring of Key Factors in Blockchain Adoption: An ISM Approach to Trust Management and Financial Transparency in Digital Banking
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Ameneh Moshtaghi1   , Saeid Baseri *2 , Hassan Ghodrati Ghazani1 , Mohammadreza Mohagheghi1 , Mohammad Esmaeili Joosheghani3 |
1- Department of Accounting, Kas.C., Islamic Azad University, Kashan, Iran
2- Department of Accounting, Kas.C., Islamic Azad University, Kashan, Iran , Sa.baseri@iau.ac.ir
3- Department of Management, Kas.C., Islamic Azad University, Kashan, Iran |
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Abstract: (13 Views) |
This study establishes a hierarchical framework for blockchain adoption in Iran’s banking and financial sectors, focusing on trust management, financial transparency, and reliability within accounting information systems. Adopting an interpretivist philosophy and an applied-fundamental mixed methodology, this research first identified 21 critical components through a systematic literature review and qualitative content analysis. Subsequently, Interpretive Structural Modeling (ISM) and MICMAC analysis were conducted with 16 academic and professional experts to delineate interrelationships and driving-dependence powers.
The findings classify the components into five hierarchical levels. Regulatory oversight, compliance, and institutional factors serve as foundational driving forces at the root level. Technological attributes—such as cryptographic security, data integrity, and ledger immutability—constitute the second tier, followed by organizational preparedness, performance expectancy, and organizational culture at the intermediate level. Operational, financial, and auditing outcomes emerged as the most dependent variables.
The MICMAC analysis confirms that institutional and technical dimensions are autonomous driving forces, while organizational factors act as linkage elements. Conclusively, trust within digital accounting systems is a systemic construct shaped by the interaction of institutional governance and distributed ledger infrastructure. Successfully deploying blockchain requires aligned regulatory policy, robust internal controls, and workforce readiness to ensure reliable, transparent financial reporting in the digital banking ecosystem.
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| Keywords: Blockchain Adoption, Trust Management, Accounting Information Systems (AIS), Financial Transparency, Interpretive Structural Modeling (ISM), MICMAC Analysis. |
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Full-Text [PDF 1177 kb]
(2 Downloads)
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Article type: Research |
Subject:
General
Received: 2026/07/9 | Accepted: 2026/10/10
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