Providing a Model of Opportunities for Leveraging Blockchain Technology in Public Sector Accounting

Abstract

This research aims to provide a model of opportunities for leveraging blockchain technology in public sector accounting. The study adopts an applied research orientation and, from a research philosophy perspective, employs a mixed-method approach. In terms of objective, it falls under exploratory research. In the qualitative section, based on a content analysis approach, influential components were identified, coded, and categorized. In the quantitative part, a survey of 15 experts in this field was conducted using the fuzzy Delphi method to screen the identified components, and the final model was presented. Subsequently, the Fuzzy DEMATEL method was used to examine the influence and susceptibility of factors and determine the internal relationships. Finally, using the Fuzzy ANP method and pairwise comparisons, the most important opportunities were prioritized. The results indicate that the final model of blockchain opportunities in public sector accounting consists of six dimensions and thirty-two components. Improved control and accountability are the most influential dimensions and have the highest interaction with other studied factors. Among the opportunity components, fraud reduction in auditing is the most influential, and increasing the efficiency, effectiveness, and reliability of auditing has the highest interaction with other studied factors. In prioritizing the opportunities, improved control and accountability, followed by increased efficiency, effectiveness, and reliability of auditing, hold the highest priority in the dimensions and components, in accordance with expert opinions. Public accountants and government institutions, as major producers and consumers of information and holders of extensive information resources across various domains, have significant capacity for applying this innovation and benefiting from its advantages. Considering the goals of public sector accounting in public accountability responsibility and the importance of agility and quality in meeting the information needs of various stakeholders, as well as the necessity to focus on the sub-systems of public sector accounting composed of financial accounting, auditing, and managerial accounting, these results demonstrate that the opportunities created by this innovation can be extensive and simultaneously impact other branches of accounting. Therefore, the findings of this study are important in identifying the potential of this technology to improve public accounting and its role in macroeconomics, enhancing the democratic process for countries, reducing corruption, improving accountability responsibility, and ultimately enhancing the financial performance of companies and government organizations. Given the breadth of this field, which includes a wide range of services related to commercial and banking institutions, consulting, taxation, etc., the results can be utilized by practitioners in this domain.