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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