The Blockchain Trust Paradox: Engineered Trust vs. Experienced Trust in Decentralized Systems
Scott Keaney, Pierre R. Berthon · Information · 2025
Blockchain is described as a technology of trust. Its design relies on cryptography, decentralization, and immutability to ensure secure and transparent transactions. Yet users frequently report confusion, frustration, and skepticism when engaging with blockchain applications. This tension is the blockchain trust paradox: while trust is engineered into the technology, trust is not always experienced by its users. Our article examines the paradox through three theoretical perspectives. Socio-Technical Systems (STS) theory highlights how trust emerges from the interaction between technical features and social practices; Technology Acceptance models (TAM and UTAUT) emphasize how perceived usefulness and ease of use shape adoption. Ostrom’s commons governance theory explains how legitimacy and accountability affect trust in decentralized networks. Drawing on recent research in experience design, human–computer interaction, and decentralized governance, the article identifies the barriers that undermine user confidence. These include complex key management, unpredictable transaction costs, and unclear processes for decision-making and dispute resolution. The article offers an integrated framework that links engineered trust with experienced trust. Seven propositions are developed to guide future research and practice. The conclusion argues that blockchain technologies will gain traction if design and governance evolve alongside technical protocols to create systems that are both technically secure and trustworthy in experience.