Blockchain Technology: A Case Study from Greek Accountants

While most Blockchain technology seems to be new, applications of this technology, beyond electronic payments, such as supply chains, health care and asset management appear every day. All of them stem from the distinctive advantages of Blockchain technology; volatility, trust, transparency and reliability. Blockchain already affects the banking and accounting sectors, and all its economy-abided activities. Under this context, the purpose of this study is to explore the knowledge and the attitude of Greek accountants towards Blockchain technology and its advantages and disadvantages with regards to the accounting area. For the analysis, a convenient sample of 100 Greek accountants was used. Results reveal that Greek accountants use digital infrastructure and technology, but they report low knowledge on Blockchain technology and lack of trust in using it for their transactions. The questionnaire has been factor analyzed and the following factors emerged: (a) The attitude of the accountants, (b) The need for validated files and reliability of sources, (c) The reliability of Blockchain technology, and (d) The need to eliminate intermediaries. Implications for providing more training through seminars and education for the accounting sector, businesses and employees are discussed.