The Future of Payments: The Role of Crypto Assets in Shaping Trust

Nina Frausing; Michel Avital

The Future of Payments: The Role of Crypto Assets in Shaping Trust

Institut for Digitalisering

Publikation: Bidrag til bog/antologi/rapport › Konferencebidrag i proceedings › Forskning › peer review

Abstract

Crypto assets are code-based digital assets that are implemented using cryptographic techniques and reside in distributed transactional databases. Crypto assets embed technology-based trust mechanisms that rely on software rather than intermediaries to validate and process transactions. The spread and exponential growth of crypto assets challenge existing institutional frameworks that facilitate trust in payments. This short paper aims to explore how the emergence of crypto assets affects the trust mechanisms in the payment ecosystem. Building on archival data, opinion papers, and participant observation, the preliminary findings show that existing institutional arrangements are incapable of enforcing trust-facilitating measures for crypto assets. Subsequently, we argue that realigning technology-based and institution-based trust mechanisms will provide a better landscape for the future of the retail payments ecosystem.

Originalsprog	Engelsk
Titel	Proceedings of the 42nd International Conference on Information Systems (ICIS)
Redaktører	Anitesh Barua, Ryan Wright, Atreyi Kankanhalli, Xitong Li, Shaila Miranda
Antal sider	9
Udgivelsessted	Atlanta, GA
Forlag	Association for Information Systems. AIS Electronic Library (AISeL)
Publikationsdato	2021
Artikelnummer	2177
ISBN (Elektronisk)	9781733632591
Status	Udgivet - 2021
Begivenhed	The 42nd International Conference on Information Systems: ICIS 2021: Building Sustainability and Resilience with IS: A Call for Action - Austin, USA Varighed: 12 dec. 2021 → 15 dec. 2021 Konferencens nummer: 42 https://icis2021.aisconferences.org/

Konference

Konference	The 42nd International Conference on Information Systems: ICIS 2021
Nummer	42
Land/Område	USA
By	Austin
Periode	12/12/2021 → 15/12/2021
Internetadresse	https://icis2021.aisconferences.org/

Navn	Proceedings of the International Conference on Information Systems
ISSN	0000-0033

Emneord

Crypto assets
Trust
Institution-based trust
Technology-based trust
Distributed ledger technology
Payments

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Citationsformater

Frausing, N., & Avital, M. (2021). The Future of Payments: The Role of Crypto Assets in Shaping Trust. I A. Barua, R. Wright, A. Kankanhalli, X. Li, & S. Miranda (red.), Proceedings of the 42nd International Conference on Information Systems (ICIS) Artikel 2177 Association for Information Systems. AIS Electronic Library (AISeL). https://aisel.aisnet.org/icis2021/fintech/fintech/13/

Frausing, Nina ; Avital, Michel. / The Future of Payments : The Role of Crypto Assets in Shaping Trust. Proceedings of the 42nd International Conference on Information Systems (ICIS). red. / Anitesh Barua ; Ryan Wright ; Atreyi Kankanhalli ; Xitong Li ; Shaila Miranda. Atlanta, GA : Association for Information Systems. AIS Electronic Library (AISeL), 2021. (Proceedings of the International Conference on Information Systems).

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title = "The Future of Payments: The Role of Crypto Assets in Shaping Trust",

abstract = "Crypto assets are code-based digital assets that are implemented using cryptographic techniques and reside in distributed transactional databases. Crypto assets embed technology-based trust mechanisms that rely on software rather than intermediaries to validate and process transactions. The spread and exponential growth of crypto assets challenge existing institutional frameworks that facilitate trust in payments. This short paper aims to explore how the emergence of crypto assets affects the trust mechanisms in the payment ecosystem. Building on archival data, opinion papers, and participant observation, the preliminary findings show that existing institutional arrangements are incapable of enforcing trust-facilitating measures for crypto assets. Subsequently, we argue that realigning technology-based and institution-based trust mechanisms will provide a better landscape for the future of the retail payments ecosystem.",

keywords = "Crypto assets, Trust, Institution-based trust, Technology-based trust, Distributed ledger technology, Payments, Crypto assets, Trust, Institution-based trust, Technology-based trust, Distributed ledger technology, Payments",

author = "Nina Frausing and Michel Avital",

year = "2021",

language = "English",

series = "Proceedings of the International Conference on Information Systems",

editor = "Anitesh Barua and Ryan Wright and Atreyi Kankanhalli and Xitong Li and Shaila Miranda",

booktitle = "Proceedings of the 42nd International Conference on Information Systems (ICIS)",

publisher = "Association for Information Systems. AIS Electronic Library (AISeL)",

note = "The 42nd International Conference on Information Systems: ICIS 2021 : Building Sustainability and Resilience With is: A Call for Action, ICIS 2021 ; Conference date: 12-12-2021 Through 15-12-2021",

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Frausing, N & Avital, M 2021, The Future of Payments: The Role of Crypto Assets in Shaping Trust. i A Barua, R Wright, A Kankanhalli, X Li & S Miranda (red), Proceedings of the 42nd International Conference on Information Systems (ICIS)., 2177, Association for Information Systems. AIS Electronic Library (AISeL), Atlanta, GA, Proceedings of the International Conference on Information Systems, The 42nd International Conference on Information Systems: ICIS 2021, Austin, Texas, USA, 12/12/2021. <https://aisel.aisnet.org/icis2021/fintech/fintech/13/>

The Future of Payments: The Role of Crypto Assets in Shaping Trust. / Frausing, Nina; Avital, Michel.
Proceedings of the 42nd International Conference on Information Systems (ICIS). red. / Anitesh Barua; Ryan Wright; Atreyi Kankanhalli; Xitong Li; Shaila Miranda. Atlanta, GA: Association for Information Systems. AIS Electronic Library (AISeL), 2021. 2177 (Proceedings of the International Conference on Information Systems).

Publikation: Bidrag til bog/antologi/rapport › Konferencebidrag i proceedings › Forskning › peer review

TY - GEN

T1 - The Future of Payments

T2 - The 42nd International Conference on Information Systems: ICIS 2021

AU - Frausing, Nina

AU - Avital, Michel

N1 - Conference code: 42

PY - 2021

Y1 - 2021

N2 - Crypto assets are code-based digital assets that are implemented using cryptographic techniques and reside in distributed transactional databases. Crypto assets embed technology-based trust mechanisms that rely on software rather than intermediaries to validate and process transactions. The spread and exponential growth of crypto assets challenge existing institutional frameworks that facilitate trust in payments. This short paper aims to explore how the emergence of crypto assets affects the trust mechanisms in the payment ecosystem. Building on archival data, opinion papers, and participant observation, the preliminary findings show that existing institutional arrangements are incapable of enforcing trust-facilitating measures for crypto assets. Subsequently, we argue that realigning technology-based and institution-based trust mechanisms will provide a better landscape for the future of the retail payments ecosystem.

AB - Crypto assets are code-based digital assets that are implemented using cryptographic techniques and reside in distributed transactional databases. Crypto assets embed technology-based trust mechanisms that rely on software rather than intermediaries to validate and process transactions. The spread and exponential growth of crypto assets challenge existing institutional frameworks that facilitate trust in payments. This short paper aims to explore how the emergence of crypto assets affects the trust mechanisms in the payment ecosystem. Building on archival data, opinion papers, and participant observation, the preliminary findings show that existing institutional arrangements are incapable of enforcing trust-facilitating measures for crypto assets. Subsequently, we argue that realigning technology-based and institution-based trust mechanisms will provide a better landscape for the future of the retail payments ecosystem.

KW - Crypto assets

KW - Trust

KW - Institution-based trust

KW - Technology-based trust

KW - Distributed ledger technology

KW - Payments

KW - Crypto assets

KW - Trust

KW - Institution-based trust

KW - Technology-based trust

KW - Distributed ledger technology

KW - Payments

M3 - Article in proceedings

T3 - Proceedings of the International Conference on Information Systems

BT - Proceedings of the 42nd International Conference on Information Systems (ICIS)

A2 - Barua, Anitesh

A2 - Wright, Ryan

A2 - Kankanhalli, Atreyi

A2 - Li, Xitong

A2 - Miranda, Shaila

PB - Association for Information Systems. AIS Electronic Library (AISeL)

CY - Atlanta, GA

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Frausing N, Avital M. The Future of Payments: The Role of Crypto Assets in Shaping Trust. I Barua A, Wright R, Kankanhalli A, Li X, Miranda S, red., Proceedings of the 42nd International Conference on Information Systems (ICIS). Atlanta, GA: Association for Information Systems. AIS Electronic Library (AISeL). 2021. 2177. (Proceedings of the International Conference on Information Systems).