International Journal of

ADVANCED AND APPLIED SCIENCES

EISSN: 2313-3724, Print ISSN: 2313-626X

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 Volume 10, Issue 9 (September 2023), Pages: 196-206

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 Original Research Paper

Adoption of blockchain as an open accounting information system in Vietnam: A triple-entry accounting approach

 Author(s): 

 Ha Thi Thu Hoang 1, Linh Ha Nguyen 2, *, Dung Thuy Dinh 1

 Affiliation(s):

 1Faculty of Investment, National Economics University, Hanoi, Vietnam
 2School of Accounting and Auditing, National Economics University, Hanoi, Vietnam

  Full Text - PDF          XML

 * Corresponding Author. 

  Corresponding author's ORCID profile: https://orcid.org/0000-0002-1626-6167

 Digital Object Identifier: 

 https://doi.org/10.21833/ijaas.2023.09.022

 Abstract:

Blockchain technology has emerged as an indispensable force driving economic development across various sectors in Vietnam. However, prior research in the realm of blockchain technology has predominantly focused on areas such as logistics, journalism, and banking, neglecting the pivotal domains of accounting and auditing. Recognizing this theoretical gap and the significant role played by accounting and auditing in economic systems, this paper endeavors to augment our understanding of blockchain technology through the lens of a novel "triple-entry accounting method." Additionally, it seeks to assess the level of acceptance of this potentially transformative innovation within the Vietnamese business landscape. Blockchain, renowned for its decentralized architecture and distributed data system, represents a fundamental departure from conventional accounting practices. It functions as an open accounting information system, wherein data is distributed among multiple computers with identical copies, devoid of central administration but validated by a network of participants. Drawing upon responses from a sample of 225 participants and employing statistical analysis with SPSS, this study investigates attitudes and intentions regarding the adoption of blockchain technology in the field of accounting in Vietnam. The results of this analysis reveal a positive correlation between four variables-perceived usefulness, perceived ease of use, comparability, and complexity-and the attitude toward blockchain application, further positively influencing the intention to use it. However, the variable of Perceived Risk does not exhibit statistical significance. These findings underscore the necessity of establishing intelligent accounting procedures through blockchain adoption and underscore the importance of understanding factors influencing attitudes and intentions to enhance the widespread acceptance of this innovation in the Vietnamese business context.

 © 2023 The Authors. Published by IASE.

 This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/).

 Keywords: Blockchain technology, Triple-entry accounting, Acceptance, Accounting innovation, Vietnamese economy

 Article History: Received 3 March 2023, Received in revised form 8 July 2023, Accepted 9 September 2023

 Acknowledgment 

The authors thank anonymous reviewers for their useful comments and the National Economics University (NEU), Vietnam for funding this research.

 Compliance with ethical standards

 Conflict of interest: The author(s) declared no potential conflicts of interest with respect to the research, authorship, and/or publication of this article.

 Citation:

 Hoang HTT, Nguyen LH, and Dinh DT (2023). Adoption of blockchain as an open accounting information system in Vietnam: A triple-entry accounting approach. International Journal of Advanced and Applied Sciences, 10(9): 196-206

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 Figures

 Fig. 1 Fig. 2  

 Tables

 Table 1 Table 2 Table 3 Table 4 Table 5 Table 6 Table 7 Table 8 Table 9 Table 10 Table 11 Table 12 

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