December 2025 Edition

Effect of Blockchain Technology on Transparency in Business Practices

Ayankola Ayansola , Raji Ali Tobi & Fakilede Ngozi Ruby

Abstract

Blockchain technology has a transformative impact on business practices through enhanced
transparency in marketing operations. As marketing evolves in response to digital advancements,
blockchain offers unique opportunities to improve trust, security, and transparency in customer
interactions and data management. This study aimed to assess the effect of blockchain technology
on transparency within business practices. Blockchain technology was represented by public
blockchain and private blockchain, while business practices transparency were analyzed through
information accessibility and stakeholder engagement. A descriptive survey approach was
adopted, targeting marketing and IT staff from three purposively selected firms employing
blockchain in their operations. The population of the study was 400, comprising staff from retail,
financial services, and e-commerce sectors. A total sample size of 150 was drawn from this
population. The formulated hypotheses were tested using z-test statistics. The findings revealed that
public blockchain significantly affect information accessibility in marketing operations, also,
private blockchain impact on stakeholder engagement significantly. Consequently, blockchain
technology was found to have a positive effect on business administration practices in marketing.
The study recommends that businesses leverage public blockchain for enhanced information
accessibility and also utilize private blockchain to improve stakeholder engagement.

Keywords

Blockchain Technology, Business Transparency, Information Accessibility Marketing, Public and Private Blockchains, Stakeholder Engagement

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