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

Nina Frausing, Michel Avital

Research output: Chapter in Book/Report/Conference proceedingArticle in proceedingsResearchpeer-review


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.
Original languageEnglish
Title of host publicationProceedings of the 42nd International Conference on Information Systems (ICIS)
EditorsAnitesh Barua, Ryan Wright, Atreyi Kankanhalli, Xitong Li, Shaila Miranda
Number of pages9
Place of PublicationAtlanta, GA
PublisherAssociation for Information Systems. AIS Electronic Library (AISeL)
Publication date2021
Article number2177
ISBN (Electronic)9781733632591
Publication statusPublished - 2021
EventThe 42nd International Conference on Information Systems: ICIS 2021: Building Sustainability and Resilience With is: A Call for Action - Austin, United States
Duration: 12 Dec 202115 Dec 2021
Conference number: 42


ConferenceThe 42nd International Conference on Information Systems: ICIS 2021
Country/TerritoryUnited States
Internet address
SeriesProceedings of the International Conference on Information Systems


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

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