Publication Details
Abstract
This study discusses the integration of blockchain technology into government accounting systems in Iraq, focusing on its impact on key performance indicators related to efficiency, transparency, and security. The core area of concern in this paper will be focused on certain key performance indicators that make efficiency, transparency, and security. Descriptive quantitative research used a questionnaire with (10) items responded to by 86 respondents made up of accountants, auditors, and financial managers working in the Ministry of Finance in Iraq. The responses were coded and keyed into the SPSS version (22) to establish how far there could be a similarity in the perception of respondents on whether or not blockchain is effective in improving transparency, reducing fraud, and the process in which records are kept. The stratified sampling guaranteed a fair degree of representation in the composition of respondents. A Likert scale was also applied to measure the attitudes of respondents regarding the capabilities of blockchain. Findings indicate that, in many ways, the integration of blockchain positively optimizes efficiency by automating certain processes and reducing the burden of running those processes, optimizes transparency by unchangeable records available to all parties, and optimizes security by the lowest risk of fraud and data insecurity. The study applied Everett M. Rogers' Diffusion of Innovation Theory (1992) to understand the adoption dynamics, highlighting blockchain's relative advantages and compatibility with existing systems as key drivers for its implementation. These results underscore the potential transformative results of implementing blockchain technology in modernizing the government accounting systems of Iraq and, thus, it provides useful information for the formulation of related policies.