Examining the Acceptance of Blockchain by Real Estate Buyers and Sellers

• DOI: 10.1007/s10796-023-10411-8
• Publication Date: 2023-06-01T09:02:29Z
• Authors: William Yeoh; Angela Siew Hoong...; Claudia Ng; Ales Popovic; Yue Han
• Keywords: FOS: Computer and information sciences; Marketing; Information Systems and Management; Machine Learning in Smart Healthcare; Technology Acceptance Model; Blockchain and Internet of Things Integration; Intermediary; Social Sciences; Real estate; Computer science; Article; Decision Sciences; FOS: Economics and business; Blockchain; Artificial Intelligence; Computer security; Computer Science; Physical Sciences; Business; User Acceptance of Information Technology; Finance; Information Systems

AbstractBuying and selling real estate is time consuming and labor intensive, requires many intermediaries, and incurs high fees. Blockchain technology provides the real estate industry with a reliable means of tracking transactions and increases trust between the parties involved. Despite the benefits of blockchain, its adoption in the real estate industry is still in its infancy. Therefore, we investigate the factors that influence the acceptance of blockchain technology by buyers and sellers of real estate. A research model was designed based on the combined strengths of the unified theory of technology acceptance and use model and the technology readiness index model. Data were collected from 301 real estate buyers and sellers and analyzed using the partial least squares method. The study found that real estate stakeholders should focus on psychological factors rather than technological factors when adopting blockchain. This study adds to the existing body of knowledge and provides valuable insights to real estate stakeholders on how to implement blockchain technology.