Designing for Trust in Blockchain Platforms

Trust is a crucial component for successful transactions regardless of whether they are executed in physical or virtual spaces. Blockchain technology is often discussed in the context of trust and referred to as a trust-free, trustless, or trustworthy technology. However, the question of how the trustworthiness of blockchain platforms should be demonstrated and proven to end users still remains open. While there may be some genuine trust in the blockchain technology itself, on an application level trust in an IT artifact needs to be established. In this article, we examine how trust-supporting design elements may be implemented to foster an end user's trust in a blockchain platform. We follow the design science paradigm and suggest a practically useful set of design elements that can help designers of blockchain platforms to build more trustworthy systems.

Automated summary

Trust is essential for successful transactions in both physical and virtual spaces. Although blockchain technology is often described as trust-free or trustworthy, demonstrating and proving its trustworthiness to end users is still a challenge. This article examines how trust-supporting design elements can be implemented to build trust in blockchain platforms. By following the design science paradigm, we propose a practical set of design elements that can assist blockchain platform designers in creating more trustworthy systems.