The Impact of Block Chain-Enabled Traceability on Perceived Product Authenticity and Willingness to Pay in the Canadian Biotechnology Industry

Sabine Lukas
Department of Molecular Genetics, Faculty of Medicine, University of Toronto, Canada
Silvana Olivier
Department of Biochemistry and Molecular Biology, Dalhousie University ‑ Nova Scotia, Canada

Abstract:

The present study has analyzed the perceived product authenticity through block-chain enabled traceability. The mediating role of brand familiarity and perceived product quality have also been assessed by the researcher. Based on the aims and objectives of this study, the researcher implemented a quantitative research design to assess the causal association among variables. Questionnaires were disbursed among target audience and data was analyzed through Smart-PLS. Results indicated that Block Chain enabled technology significantly impacts the products perceived authenticity. Similarly, the Block Chain technology significantly impacts the willingness to pay. The results of mediation were also significant as brand familiarity and product’s perceived quality significantly mediates in the research model. This research theoretically provides novelty in the emerging literature of block-chain enabled traceability that have not been analyzed before in the similar research model. Practically this study enlightens the importance of Block Chain technology, product’s authenticity, and the brand familiarity to influence the consumer’s purchase behavior. Research limitations and future research indications have also been addressed in the study.