Abstract
This study aims to examine blockchain technology's impact on transparency and trust within the context of the buyer-supplier relationship of vendors and P2P (peer-to-peer) platforms. This research employs a scenario-based experimental design and an online dataset comprised of 243 vendors on an online P2P platform to empirically test the effect of blockchain features. The findings indicate that the relationship between blockchain features and the vendors' willingness to continue selling is fully mediated by the vendors' perceptions of transparency of the P2P platform and their trust in it. Moreover, switching costs moderate the relationship between trust and willingness to continue selling on the P2P platform, but not the one between transparency and willingness. Unlike the previous research, this study examines the relationship with online platforms from the perspective of vendors (B2B), rather than end customers (B2C). This research contributes to social exchange theory and resource dependence theory, as well as to the emerging research at the intersection of business relationships in P2P online platforms, microenterprises, and emergent technologies. Further, we augment supply chain literature on buyer-supplier trust by offering insights into the impact of blockchain.
•The study focuses on vendors' perspectives, offering new insights into B2B relationships on P2P platforms.•Blockchain technology enhances trust and transparency in vendor-platform relationships on P2P marketplaces.•Transparency and trust mediate the effect of blockchain features on vendors' willingness to continue selling.•Switching costs moderates the relationship between trust and vendors' willingness to stay on the platform.•The research contributes to social exchange theory, resource dependence theory, and literature on buyer-supplier trust.